Norway: Epoxide Resin Market 2024

Epoxide Resin Market Size in Norway

For the sixth year in a row, the Norwegian epoxide resin market recorded growth in sales value, which increased by 30% to $X in 2021. Over the period under review, the total consumption indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +84.1% against 2015 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Epoxide Resin Exports

Exports from Norway

In 2021, approx. X tons of epoxide resins were exported from Norway; growing by 44% compared with the year before. Overall, exports saw a resilient increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, epoxide resin exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Sweden (X tons), Denmark (X tons) and Finland (X tons) were the main destinations of epoxide resin exports from Norway, with a combined 61% share of total exports. Singapore, Belgium, Latvia, Lithuania, Canada, Poland and the Czech Republic lagged somewhat behind, together comprising a further 27%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belgium (with a CAGR of +93.3%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Sweden ($X) and Denmark ($X) were the largest markets for epoxide resin exported from Norway worldwide, together accounting for 66% of total exports. Finland, Latvia, Lithuania, Belgium, Canada, Poland and the Czech Republic lagged somewhat behind, together accounting for a further 16%.

In terms of the main countries of destination, Belgium, with a CAGR of +79.3%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average epoxide resin export price stood at $X per ton in 2021, growing by 94% against the previous year. In general, export price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the average export prices attained the maximum at $X per ton in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+18.7%), while the prices for the other major destinations experienced more modest paces of growth.

Epoxide Resin Imports

Imports into Norway

For the fourth consecutive year, Norway recorded growth in supplies from abroad of epoxide resins, which increased by 5.2% to X tons in 2021. The total import volume increased at an average annual rate of +4.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 when imports increased by 22%. Imports peaked in 2021 and are likely to continue growth in years to come.

In value terms, epoxide resin imports skyrocketed to $X in 2021. In general, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +113.9% against 2015 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), Spain (X tons) and Italy (X tons) were the main suppliers of epoxide resin imports to Norway, with a combined 72% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of +38.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of epoxide resins to Norway, comprising 44% of total imports. The second position in the ranking was held by Spain ($X), with an 18% share of total imports. It was followed by the Netherlands, with a 7.1% share.

From 2012 to 2021, the average annual growth rate of value from Germany stood at +4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+43.5% per year) and the Netherlands (-0.7% per year).

Import Prices by Country

In 2021, the average epoxide resin import price amounted to $X per ton, rising by 42% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.1%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sweden ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+15.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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