Scandinavia: Alkyd Resins Market 2024

Alkyd Resins Market Size in Scandinavia

The Scandinavia alkyd resins market reduced modestly to $X in 2022, waning by -3.2% against the previous year. In general, consumption showed a perceptible descent. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Alkyd Resins Production in Scandinavia

In value terms, alkyd resins production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production, however, saw a deep setback. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Alkyd Resins Exports

Exports in Scandinavia

In 2022, overseas shipments of alkyd resins in primary forms decreased by -66% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports faced a deep setback. The most prominent rate of growth was recorded in 2020 when exports increased by 11%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, alkyd resins exports shrank notably to $X in 2022. In general, exports saw a deep slump. The pace of growth appeared the most rapid in 2021 with an increase of 15% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Sweden (X tons) and Norway (X tons) dominates exports structure, together achieving 91% of total exports. It was distantly followed by Finland (X tons), mixing up a 9.4% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Finland (with a CAGR of -4.6%), while the other leaders experienced a decline in the exports figures.

In value terms, Sweden ($X) emerged as the largest alkyd resins supplier in Scandinavia, comprising 66% of total exports. The second position in the ranking was taken by Norway ($X), with a 25% share of total exports.

In Sweden, alkyd resins exports shrank by an average annual rate of -9.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Norway (-20.6% per year) and Finland (-4.4% per year).

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per ton, picking up by 45% against the previous year. Export price indicated modest growth from 2012 to 2022: its price 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, alkyd resins export price increased by +50.7% against 2020 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sweden ($X per ton), while Norway ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+3.2%), while the other leaders experienced mixed trends in the export price figures.

Alkyd Resins Imports

Imports in Scandinavia

Alkyd resins imports declined remarkably to X tons in 2022, which is down by -21.3% compared with 2021 figures. In general, imports saw a perceptible contraction. The pace of growth was the most pronounced in 2021 with an increase of 6.7% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, alkyd resins imports reduced to $X in 2022. Overall, imports continue to indicate a perceptible decrease. The pace of growth appeared the most rapid in 2021 when imports increased by 20% against the previous year. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Finland (X tons) and Sweden (X tons) were the key importers of alkyd resins in primary forms in 2022, reaching near 35% and 35% of total imports, respectively. It was followed by Norway (X tons), achieving a 30% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Norway (with a CAGR of -1.0%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, Sweden ($X), Norway ($X) and Finland ($X) were the countries with the highest levels of imports in 2022.

Norway, with a CAGR of +0.8%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2022, increasing by 17% against the previous year. Over the period under review, the import price saw modest growth. 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 importing countries. In 2022, amid the top importers, the country with the highest price was Norway ($X per ton), while Finland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+1.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform