Portugal: Alkyd Resins Market 2024

Alkyd Resins Market Size in Portugal

The Portuguese alkyd resins market skyrocketed to $X in 2022, growing by 122% against the previous year. Over the period under review, consumption enjoyed a buoyant expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Alkyd Resins Production in Portugal

In value terms, alkyd resins production soared to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. Alkyd resins production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Alkyd Resins Exports

Exports from Portugal

In 2022, overseas shipments of alkyd resins in primary forms decreased by -35.5% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports recorded a pronounced reduction. The growth pace was the most rapid in 2014 with an increase of 26%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, alkyd resins exports fell to $X in 2022. In general, exports showed a noticeable contraction. The growth pace was the most rapid in 2021 with an increase of 21%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Spain (X tons) was the main destination for alkyd resins exports from Portugal, accounting for a 71% share of total exports. Moreover, alkyd resins exports to Spain exceeded the volume sent to the second major destination, France (X tons), fourfold. Angola (X tons) ranked third in terms of total exports with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Spain stood at +1.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-8.2% per year) and Angola (-12.2% per year).

In value terms, Spain ($X) remains the key foreign market for alkyd resins in primary forms exports from Portugal, comprising 71% of total exports. The second position in the ranking was held by France ($X), with a 16% share of total exports. It was followed by Angola, with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Spain amounted to +2.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-8.3% per year) and Angola (-7.6% per year).

Export Prices by Country

In 2022, the average alkyd resins export price amounted to $X per ton, with an increase of 32% against the previous year. Overall, the export price showed a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Angola ($X per ton), while the average price for exports to Morocco ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Angola (+5.3%), while the prices for the other major destinations experienced more modest paces of growth.

Alkyd Resins Imports

Imports into Portugal

In 2022, after two years of growth, there was significant decline in supplies from abroad of alkyd resins in primary forms, when their volume decreased by -11.5% to X tons. The total import volume increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 28%. As a result, imports reached the peak of X tons, and then shrank in the following year.

In value terms, alkyd resins imports shrank slightly to $X in 2022. Overall, total imports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +83.2% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 52%. As a result, imports reached the peak of $X, and then shrank modestly in the following year.

Imports by Country

Spain (X tons), Italy (X tons) and France (X tons) were the main suppliers of alkyd resins imports to Portugal, together accounting for 82% of total imports.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +21.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Italy ($X) and France ($X) constituted the largest alkyd resins suppliers to Portugal, with a combined 80% share of total imports.

France, with a CAGR of +20.6%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average alkyd resins import price stood at $X per ton in 2022, picking up by 11% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 19%. The import price peaked in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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