Romania: Market for Urea Resins And Thiourea Resins In Primary Forms 2024

Market Size for Urea Resins And Thiourea Resins In Primary Forms in Romania

In 2022, the Romanian urea and thiourea resins market decreased by -2.7% to $X, falling for the fourth consecutive year after two years of growth. Over the period under review, consumption, however, saw a abrupt decline. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Production of Urea Resins And Thiourea Resins In Primary Forms in Romania

In value terms, urea and thiourea resins production shrank markedly to $X in 2022 estimated in export price. Overall, production recorded a deep setback. The most prominent rate of growth was recorded in 2021 with an increase of 89%. Urea and thiourea resins production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Exports of Urea Resins And Thiourea Resins In Primary Forms

Exports from Romania

In 2022, shipments abroad of urea resins and thiourea resins in primary forms decreased by -28.6% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports showed a mild curtailment. The growth pace was the most rapid in 2021 when exports increased by 38% against the previous year. As a result, the exports attained the peak of X tons, and then dropped sharply in the following year.

In value terms, urea and thiourea resins exports rose remarkably to $X in 2022. Over the period under review, exports, however, continue to indicate a perceptible expansion. The growth pace was the most rapid in 2021 with an increase of 116%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Hungary (X tons), Bulgaria (X tons) and Serbia (X tons) were the main destinations of urea and thiourea resins exports from Romania, together comprising 92% of total exports. These countries were followed by Ukraine, which accounted for a further 4.5%.

From 2012 to 2022, the biggest increases were recorded for Ukraine (with a CAGR of +7.6%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for urea and thiourea resins exported from Romania were Hungary ($X), Bulgaria ($X) and Serbia ($X), together accounting for 93% of total exports. These countries were followed by Ukraine, which accounted for a further 4.3%.

Ukraine, with a CAGR of +13.2%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average urea and thiourea resins export price amounted to $X per ton, growing by 49% against the previous year. Overall, the export price enjoyed a prominent increase. The growth pace was the most rapid in 2021 when the average export price increased by 56%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in years to come.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Serbia ($X per ton) and Hungary ($X per ton), while the average price for exports to Ukraine ($X per ton) and Bulgaria ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Serbia (+5.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Urea Resins And Thiourea Resins In Primary Forms

Imports into Romania

In 2022, purchases abroad of urea resins and thiourea resins in primary forms decreased by -6.1% to X tons, falling for the second year in a row after seven years of growth. In general, imports, however, posted significant growth. The pace of growth appeared the most rapid in 2019 with an increase of 153%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, urea and thiourea resins imports skyrocketed to $X in 2022. Overall, imports, however, saw a significant increase. The growth pace was the most rapid in 2017 with an increase of 108%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

Hungary (X tons), Turkey (X tons) and Bulgaria (X tons) were the main suppliers of urea and thiourea resins imports to Romania, with a combined 87% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Bulgaria (with a CAGR of +101.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Hungary ($X), Turkey ($X) and Bulgaria ($X) were the largest urea and thiourea resins suppliers to Romania, together comprising 84% of total imports.

Bulgaria, with a CAGR of +96.9%, 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 urea and thiourea resins import price stood at $X per ton in 2022, picking up by 36% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average import price increased by 77%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :