Mexico: Epoxide Resin Market 2024

Epoxide Resin Market Size in Mexico

The Mexican epoxide resin market skyrocketed to $X in 2021, surging by 30% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +3.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Epoxide Resin Exports

Exports from Mexico

In 2021, overseas shipments of epoxide resins decreased by -9.7% to X tons, falling for the eighth year in a row after two years of growth. In general, exports showed a deep setback. The growth pace was the most rapid in 2013 with an increase of 33%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, epoxide resin exports soared to $X in 2021. Over the period under review, exports continue to indicate a pronounced descent. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for epoxide resin exports from Mexico, with a 69% share of total exports. Moreover, epoxide resin exports to the United States exceeded the volume sent to the second major destination, Colombia (X tons), ninefold. The third position in this ranking was held by Guatemala (X tons), with a 5.8% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at -4.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-12.7% per year) and Guatemala (+5.7% per year).

In value terms, the United States ($X) remains the key foreign market for epoxide resins exports from Mexico, comprising 75% of total exports. The second position in the ranking was held by Colombia ($X), with a 5.8% share of total exports. It was followed by Guatemala, with a 5.3% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +13.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-3.1% per year) and Guatemala (+5.6% per year).

Export Prices by Country

In 2021, the average epoxide resin export price amounted to $X per ton, rising by 56% against the previous year. Overall, the export price showed a resilient expansion. The pace of growth was the most pronounced in 2015 when the average export price increased by 59%. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the immediate term.

Average prices varied somewhat for the major overseas markets. In 2021, amid the top suppliers, the highest price was recorded for prices to the United States ($X per ton) and Costa Rica ($X per ton), while the average price for exports to Peru ($X per ton) and Panama ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+17.8%), while the prices for the other major destinations experienced more modest paces of growth.

Epoxide Resin Imports

Imports into Mexico

In 2021, approx. X tons of epoxide resins were imported into Mexico; increasing by 24% on the previous year. In general, imports continue to indicate a relatively flat trend pattern. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, epoxide resin imports surged to $X in 2021. The total import value increased at an average annual rate of +2.3% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) constituted the largest epoxide resin supplier to Mexico, with a 73% share of total imports. Moreover, epoxide resin imports from the United States exceeded the figures recorded by the second-largest supplier, South Korea (X tons), more than tenfold. The third position in this ranking was held by Germany (X tons), with a 5.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+13.0% per year) and Germany (+4.6% per year).

In value terms, the United States ($X) constituted the largest supplier of epoxide resins to Mexico, comprising 73% of total imports. The second position in the ranking was taken by Japan ($X), with a 5.9% share of total imports. It was followed by South Korea, with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States stood at +2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+4.3% per year) and South Korea (+14.3% per year).

Import Prices by Country

In 2021, the average epoxide resin import price amounted to $X per ton, picking up by 5.7% against the previous year. Over the last nine years, it increased at an average annual rate of +1.4%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+2.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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