Russian Federation: Alkyd Resins Market 2024

Alkyd Resins Market Size in the Russian Federation

The Russian alkyd resins market contracted to $X in 2022, with a decrease of -12.7% against the previous year. Overall, consumption saw a abrupt downturn. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Alkyd Resins Production in the Russian Federation

In value terms, alkyd resins production shrank to $X in 2022 estimated in export price. Overall, production recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 18% against the previous year. Alkyd resins production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Alkyd Resins Exports

Exports from the Russian Federation

In 2022, shipments abroad of alkyd resins in primary forms was finally on the rise to reach X tons after two years of decline. Overall, total exports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -17.6% against 2019 indices. The pace of growth appeared the most rapid in 2016 with an increase of 67%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, alkyd resins exports expanded modestly to $X in 2022. In general, total exports indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -17.6% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of 45%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Uzbekistan (X tons) and Belarus (X tons) were the main destinations of alkyd resins exports from Russia.

From 2012 to 2022, the biggest increases were recorded for Belarus (with a CAGR of +9.7%).

In value terms, the largest markets for alkyd resins exported from Russia were Uzbekistan ($X) and Belarus ($X).

In terms of the main countries of destination, Belarus, with a CAGR of +8.7%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2022, the average alkyd resins export price amounted to $X per ton, shrinking by -16.1% against the previous year. Over the period under review, the export price recorded a perceptible shrinkage. The pace of growth was the most pronounced in 2021 when the average export price increased by 37%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Belarus ($X per ton), while the average price for exports to Uzbekistan totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ukraine (+1.6%), while the prices for the other major destinations experienced a decline.

Alkyd Resins Imports

Imports into the Russian Federation

In 2022, supplies from abroad of alkyd resins in primary forms decreased by -1.2% to X tons, falling for the fourth year in a row after three years of growth. Over the period under review, imports recorded a perceptible descent. The pace of growth appeared the most rapid in 2013 with an increase of 13% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, alkyd resins imports dropped to $X in 2022. In general, imports showed a perceptible descent. The most prominent rate of growth was recorded in 2021 when imports increased by 34%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Belarus (X tons) constituted the largest supplier of alkyd resins to Russia, accounting for a 56% share of total imports. Moreover, alkyd resins imports from Belarus exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. Italy (X tons) ranked third in terms of total imports with a 9.5% share.

From 2012 to 2022, the average annual growth rate of volume from Belarus totaled -7.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+53.1% per year) and Italy (+32.8% per year).

In value terms, the largest alkyd resins suppliers to Russia were China ($X), Belarus ($X) and Italy ($X), together comprising 71% of total imports. Germany, Bulgaria, Austria, Poland and Slovenia lagged somewhat behind, together comprising a further 24%.

Bulgaria, with a CAGR of +90.4%, recorded the highest rates of growth with regard to 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, which is down by -11.6% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 34%. As a result, import price attained the peak level of $X per ton, and then declined in the following year.

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 ($X per ton), while the price for Belarus ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (+3.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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