Scandinavia: Melamine Resins Market 2024

Melamine Resins Market Size in Scandinavia

After two years of decline, the Scandinavia melamine resins market increased by 29% to $X in 2021. In general, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Melamine Resins Production in Scandinavia

In value terms, melamine resins production rose significantly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when the production volume increased by 34% against the previous year. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Melamine Resins Exports

Exports in Scandinavia

Melamine resins exports rose remarkably to X tons in 2021, picking up by 8% compared with the previous year. Total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +7.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +92.6% against 2012 indices. The most prominent rate of growth was recorded in 2014 with an increase of 16%. The volume of export peaked in 2021 and is likely to continue growth in years to come.

In value terms, melamine resins exports soared to $X in 2021. Total exports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +73.4% against 2015 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Norway was the key exporter of melamine resins in primary forms in Scandinavia, with the volume of exports finishing at X tons, which was approx. 61% of total exports in 2021. Sweden (X tons) held the second position in the ranking, distantly followed by Finland (X tons). All these countries together held approx. 39% share of total exports.

Exports from Norway increased at an average annual rate of +9.4% from 2012 to 2021. At the same time, Finland (+26.8%) and Sweden (+11.6%) displayed positive paces of growth. Moreover, Finland emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +26.8% from 2012-2021. From 2012 to 2021, the share of Finland, Norway and Sweden increased by +9.3, +8.4 and +7.7 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Norway ($X) remains the largest melamine resins supplier in Scandinavia, comprising 69% of total exports. The second position in the ranking was taken by Sweden ($X), with a 26% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Norway stood at +9.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Sweden (+12.1% per year) and Finland (+29.2% per year).

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per ton, rising by 23% against the previous year. Overall, the export price, however, recorded a mild decrease. Over the period under review, the export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Norway ($X per ton), while Finland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+1.9%), while the other leaders experienced mixed trends in the export price figures.

Melamine Resins Imports

Imports in Scandinavia

In 2021, approx. X tons of melamine resins in primary forms were imported in Scandinavia; growing by 2.7% against the previous year's figure. Overall, imports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2015 with an increase of 40%. The volume of import peaked in 2021 and is likely to see gradual growth in the near future.

In value terms, melamine resins imports surged to $X in 2021. Over the period under review, imports posted a strong expansion. The most prominent rate of growth was recorded in 2020 with an increase of 45% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

Imports by Country

Sweden dominates imports structure, amounting to X tons, which was near 93% of total imports in 2021. It was distantly followed by Finland (X tons), generating a 5.2% share of total imports.

Sweden was also the fastest-growing in terms of the melamine resins in primary forms imports, with a CAGR of +9.6% from 2012 to 2021. Finland (-4.5%) illustrated a downward trend over the same period. While the share of Sweden (+15 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Finland (-9.9 p.p.) displayed negative dynamics.

In value terms, Sweden ($X) constitutes the largest market for imported melamine resins in primary forms in Scandinavia, comprising 91% of total imports. The second position in the ranking was held by Finland ($X), with a 6.8% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in Sweden amounted to +10.1%.

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2021, jumping by 26% against the previous year. Import price indicated a slight increase from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, melamine resins import price increased by +67.5% against 2016 indices. Over the period under review, import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Finland ($X per ton), while Sweden totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+7.1%).

Source: IndexBox Platform