Slovakia: Epoxide Resin Market 2024

Epoxide Resin Market Size in Slovakia

After two years of decline, the Slovak epoxide resin market increased by 41% to $X in 2021. In general, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Epoxide resin consumption peaked in 2021 and is expected to retain growth in years to come.

Epoxide Resin Exports

Exports from Slovakia

In 2021, overseas shipments of epoxide resins increased by 53% to X tons, rising for the second year in a row after three years of decline. In general, exports, however, saw a abrupt descent. The pace of growth was the most pronounced in 2014 with an increase of 86%. Over the period under review, the exports reached the maximum at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, epoxide resin exports surged to $X in 2021. Over the period under review, exports, however, showed a abrupt curtailment. The most prominent rate of growth was recorded in 2016 when exports increased by 133% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The Czech Republic (X tons), the United States (X tons) and Hungary (X tons) were the main destinations of epoxide resin exports from Slovakia, together comprising 58% of total exports. These countries were followed by Austria, the UK, India, Turkey, Greece, Germany, Poland and France, which together accounted for a further 33%.

From 2012 to 2021, the biggest increases were recorded for Greece (with a CAGR of +262.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for epoxide resin exported from Slovakia were the Czech Republic ($X), the United States ($X) and Austria ($X), together accounting for 56% of total exports. These countries were followed by the UK, Hungary, India, Turkey, Greece, Germany, Poland and France, which together accounted for a further 32%.

In terms of the main countries of destination, Greece, with a CAGR of +251.6%, saw 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

The average epoxide resin export price stood at $X per ton in 2021, surging by 2.8% against the previous year. Overall, the export price, however, recorded a slight descent. The most prominent rate of growth was recorded in 2016 when the average export price increased by 60%. Over the period under review, the average export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

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 Poland ($X per ton), while the average price for exports to France ($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 the United States (+14.4%), while the prices for the other major destinations experienced more modest paces of growth.

Epoxide Resin Imports

Imports into Slovakia

In 2021, the amount of epoxide resins imported into Slovakia skyrocketed to X tons, rising by 18% compared with the year before. In general, total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 101%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, epoxide resin imports skyrocketed to $X in 2021. Over the period under review, total imports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of epoxide resin to Slovakia, with a 54% share of total imports. Moreover, epoxide resin imports from Germany exceeded the figures recorded by the second-largest supplier, Slovenia (X tons), fourfold. The Czech Republic (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany stood at +12.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovenia (+14.6% per year) and the Czech Republic (+8.4% per year).

In value terms, Germany ($X) constituted the largest supplier of epoxide resins to Slovakia, comprising 44% of total imports. The second position in the ranking was taken by the Czech Republic ($X), with a 21% share of total imports. It was followed by Slovenia, with a 17% share.

From 2012 to 2021, the average annual growth rate of value from Germany totaled +11.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+21.6% per year) and Slovenia (+38.6% per year).

Import Prices by Country

The average epoxide resin import price stood at $X per ton in 2021, growing by 29% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Czech Republic ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovenia (+21.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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