Russian Federation: Imines Market 2024

Imines Market Size in the Russian Federation

In 2021, the Russian imines market decreased by -31% to $X for the first time since 2016, thus ending a four-year rising trend. Overall, consumption, however, continues to indicate a significant expansion. Imines consumption peaked at $X in 2020, and then reduced sharply in the following year.

Imines Production in the Russian Federation

In value terms, imines production soared to $X in 2021 estimated in export price. Overall, production saw a mild expansion. The most prominent rate of growth was recorded in 2019 when the production volume increased by 33%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Imines Exports

Exports from the Russian Federation

In 2021, shipments abroad of imines and their derivatives and salts thereof increased by 27% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, exports, however, continue to indicate a pronounced decrease. The pace of growth was the most pronounced in 2016 with an increase of 35%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, imines exports soared to $X in 2021. Over the period under review, exports, however, showed a perceptible slump. The pace of growth appeared the most rapid in 2019 when exports increased by 42% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Poland (X tons), Lithuania (X tons) and India (X tons) were the main destinations of imines exports from Russia, together accounting for 66% of total exports. Turkey, China, Italy, South Korea, the United States and Slovakia lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of +95.3%), while the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Lithuania ($X) and India ($X) were the largest markets for imines exported from Russia worldwide, together accounting for 62% of total exports. These countries were followed by Turkey, South Korea, Italy, China, the United States and Slovakia, which together accounted for a further 28%.

In terms of the main countries of destination, South Korea, with a CAGR of +92.8%, recorded the highest growth rate of 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 2021, the average imines export price amounted to $X per ton, with an increase of 7% against the previous year. Over the period under review, the export price, however, recorded a mild shrinkage. The most prominent rate of growth was recorded in 2019 when the average export price increased by 58% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per ton), while the average price for exports to China ($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 Canada (+9.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imines Imports

Imports into the Russian Federation

After six years of growth, purchases abroad of imines and their derivatives and salts thereof decreased by -25.1% to X tons in 2021. Over the period under review, imports, however, showed a significant increase. The growth pace was the most rapid in 2013 with an increase of 162%. Imports peaked at X tons in 2020, and then reduced markedly in the following year.

In value terms, imines imports dropped significantly to $X in 2021. In general, imports, however, saw significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 100% against the previous year. Imports peaked at $X in 2020, and then dropped remarkably in the following year.

Imports by Country

In 2021, India (X tons) constituted the largest imines supplier to Russia, with a 57% share of total imports. Moreover, imines imports from India exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was held by France (X tons), with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from India stood at +35.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+30.1% per year) and France (+234.5% per year).

In value terms, France ($X), India ($X) and China ($X) constituted the largest imines suppliers to Russia, together accounting for 92% of total imports.

France, with a CAGR of +280.7%, saw 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

In 2021, the average imines import price amounted to $X per ton, which is down by -3.5% against the previous year. In general, the import price, however, enjoyed a moderate increase. The pace of growth was the most pronounced in 2019 an increase of 53% against the previous year. The import price peaked at $X per ton in 2020, and then reduced modestly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was France ($X per ton), while the price for Belarus ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+16.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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