Russian Federation: Amino Resin Market 2024

Amino Resin Market Size in the Russian Federation

The Russian amino resin market shrank to $X in 2022, which is down by -11.1% against the previous year. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. As a result, consumption attained the peak level of $X, and then shrank in the following year.

Amino Resin Production in the Russian Federation

In value terms, amino resin production fell slightly to $X in 2022 estimated in export price. Overall, production continues to indicate a noticeable decrease. The pace of growth appeared the most rapid in 2018 with an increase of 18%. Amino resin production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Amino Resin Exports

Exports from the Russian Federation

Amino resin exports from Russia fell to X tons in 2022, which is down by -7.5% against the year before. In general, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 470% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then dropped in the following year.

In value terms, amino resin exports shrank dramatically to $X in 2022. Overall, exports, however, posted a significant expansion. The growth pace was the most rapid in 2013 when exports increased by 525%. Over the period under review, the exports hit record highs at $X in 2021, and then declined dramatically in the following year.

Exports by Country

Belarus (X tons), Uzbekistan (X tons) and Kazakhstan (X tons) were the main destinations of amino resin exports from Russia, with a combined 95% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Uzbekistan (with a CAGR of +182.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for amino resin exported from Russia were Belarus ($X), Uzbekistan ($X) and Kazakhstan ($X), together comprising 95% of total exports.

In terms of the main countries of destination, Uzbekistan, with a CAGR of +172.1%, 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

In 2022, the average amino resin export price amounted to $X per ton, waning by -17.8% against the previous year. Over the period under review, the export price recorded a mild descent. The pace of growth was the most pronounced in 2021 an increase of 63%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Belarus ($X per ton) and Uzbekistan ($X per ton), while the average price for exports to Kazakhstan ($X per ton) and Azerbaijan ($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 Azerbaijan (+4.1%), while the prices for the other major destinations experienced a decline.

Amino Resin Imports

Imports into the Russian Federation

In 2022, supplies from abroad of amino resins decreased by -18.7% to X tons for the first time since 2011, thus ending a ten-year rising trend. Overall, imports, however, continue to indicate prominent growth. The pace of growth appeared the most rapid in 2013 with an increase of 150%. Imports peaked at X tons in 2021, and then shrank rapidly in the following year.

In value terms, amino resin imports fell notably to $X in 2022. Over the period under review, imports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 148% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then dropped remarkably in the following year.

Imports by Country

China (X tons), Germany (X tons) and the Netherlands (X tons) were the main suppliers of amino resin imports to Russia, together accounting for 65% of total imports. Saudi Arabia, Belgium, Portugal, South Korea and Hungary lagged somewhat behind, together comprising a further 33%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Saudi Arabia (with a CAGR of +109.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest amino resin suppliers to Russia were China ($X), Germany ($X) and the Netherlands ($X), together accounting for 64% of total imports. Saudi Arabia, Belgium, Portugal, South Korea and Hungary lagged somewhat behind, together accounting for a further 34%.

In terms of the main suppliers, Saudi Arabia, with a CAGR of +98.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average amino resin import price amounted to $X per ton, falling by -8.9% against the previous year. Overall, the import price showed a slight slump. The pace of growth was the most pronounced in 2021 an increase of 55%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from South Korea ($X per ton) and Belgium ($X per ton), while the price for the Netherlands ($X per ton) and Portugal ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+0.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :