Russian Federation: Epoxide Resin Market 2024

Epoxide Resin Market Size in the Russian Federation

After two years of decline, the Russian epoxide resin market increased by 53% to $X in 2021. Overall, the total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +11.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Epoxide Resin Production in the Russian Federation

In value terms, epoxide resin production totaled $X in 2021 estimated in export price. Overall, production, however, showed a prominent increase. The most prominent rate of growth was recorded in 2013 when the production volume increased by 151%. Epoxide resin production peaked at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Epoxide Resin Exports

Exports from the Russian Federation

In 2021, after two years of decline, there was significant growth in shipments abroad of epoxide resins, when their volume increased by 35% to X tons. Overall, exports saw a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, epoxide resin exports skyrocketed to $X in 2021. Over the period under review, exports saw a buoyant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Belarus (X tons), Kazakhstan (X tons) and Uzbekistan (X tons) were the main destinations of epoxide resin exports from Russia, together accounting for 89% of total exports. Moldova, Ukraine and Armenia lagged somewhat behind, together accounting for a further 5.7%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Armenia (with a CAGR of +42.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for epoxide resin exported from Russia were Belarus ($X), Kazakhstan ($X) and Uzbekistan ($X), with a combined 86% share of total exports. Moldova, Ukraine and Armenia lagged somewhat behind, together accounting for a further 5.5%.

Moldova, with a CAGR of +49.7%, saw the highest growth rate of the value of exports, in terms of 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 2021, the average epoxide resin export price amounted to $X per ton, jumping by 40% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Ukraine ($X per ton), while the average price for exports to Armenia ($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 Moldova (+5.4%), while the prices for the other major destinations experienced more modest paces of growth.

Epoxide Resin Imports

Imports into the Russian Federation

In 2021, the amount of epoxide resins imported into Russia surged to X tons, growing by 16% on the previous year's figure. Over the period under review, total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +7.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +88.9% against 2012 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 32% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, epoxide resin imports surged to $X in 2021. Overall, imports saw prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

South Korea (X tons), Germany (X tons) and China (X tons) were the main suppliers of epoxide resin imports to Russia, with a combined 67% share of total imports.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +20.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Germany ($X) and China ($X) were the largest epoxide resin suppliers to Russia, together comprising 64% of total imports.

South Korea, with a CAGR of +26.5%, recorded 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 epoxide resin import price stood at $X per ton in 2021, with an increase of 54% against the previous year. Over the period under review, import price indicated perceptible growth from 2012 to 2021: its price increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, epoxide resin import price increased by +36.4% against 2018 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from the Czech Republic ($X per ton) and Taiwan (Chinese) ($X per ton), while the price for Austria ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+11.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :