Norway: Resinoids Market 2022

Resinoids Market Size in Norway

The Norwegian resinoids market rose markedly to $X in 2021, with an increase of 12% against the previous year. In general, consumption continues to indicate moderate growth. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Resinoids Production in Norway

In value terms, resinoids production contracted to $X in 2021 estimated in export price. Over the period under review, production saw strong growth. The most prominent rate of growth was recorded in 2018 with an increase of 47%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Resinoids Exports

Exports from Norway

In 2021, overseas shipments of resinoids decreased by -24.9% to X kg, falling for the second year in a row after two years of growth. Overall, exports, however, posted buoyant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 10,919% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, resinoids exports contracted significantly to $X in 2021. In general, exports, however, showed a strong increase. The most prominent rate of growth was recorded in 2016 with an increase of 10,488% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Sweden (X kg), Indonesia (X kg) and Finland (X kg) were the main destinations of resinoids exports from Norway, with a combined 94% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Finland (with a CAGR of +14.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for resinoids exported from Norway were Sweden ($X), Indonesia ($X) and Germany ($X), with a combined 91% share of total exports. These countries were followed by the UK and Finland, which together accounted for a further 9.2%.

Among the main countries of destination, Finland, with a CAGR of +12.4%, saw the highest growth rate of 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

In 2021, the average resinoids export price amounted to $X per ton, with a decrease of -9.4% against the previous year. Over the period under review, the export price, however, saw a strong increase. The most prominent rate of growth was recorded in 2020 an increase of 178% against the previous year. As a result, the export price attained the peak level of $X per ton, and then contracted in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Germany ($X per ton), while the average price for exports to Sweden ($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 the UK (+22.1%), while the prices for the other major destinations experienced mixed trend patterns.

Resinoids Imports

Imports into Norway

In 2021, approx. X tons of resinoids were imported into Norway; which is down by -35.5% on the previous year. Overall, imports showed a precipitous decrease. The growth pace was the most rapid in 2015 when imports increased by 290%. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports failed to regain momentum.

In value terms, resinoids imports fell dramatically to $X in 2021. In general, imports faced a deep slump. The growth pace was the most rapid in 2015 when imports increased by 1,101%. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Spain (X kg), the UK (X kg) and Germany (X kg) were the main suppliers of resinoids imports to Norway, together accounting for 63% of total imports. China, Sweden, Italy, France, Denmark and Belgium lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +34.7%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the UK ($X) constituted the largest supplier of resinoids to Norway, comprising 26% of total imports. The second position in the ranking was taken by Spain ($X), with an 11% share of total imports. It was followed by Italy, with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the UK stood at +11.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-3.8% per year) and Italy (-16.4% per year).

Import Prices by Country

In 2021, the average resinoids import price amounted to $X per ton, with a decrease of -14.7% against the previous year. Over the period under review, the import price, however, continues to indicate a resilient expansion. The pace of growth appeared the most rapid in 2015 when the average import price increased by 208%. Over the period under review, average import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Belgium ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+31.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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