Slovakia: Market for Urea Resins And Thiourea Resins In Primary Forms 2024

Market Size for Urea Resins And Thiourea Resins In Primary Forms in Slovakia

In 2022, after two years of growth, there was significant decline in the Slovak urea and thiourea resins market, when its value decreased by -14.9% to $X. Over the period under review, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then contracted in the following year.

Production of Urea Resins And Thiourea Resins In Primary Forms in Slovakia

In value terms, urea and thiourea resins production contracted to $X in 2022 estimated in export price. Overall, production showed a abrupt descent. The pace of growth appeared the most rapid in 2014 when the production volume increased by 14%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Urea Resins And Thiourea Resins In Primary Forms

Exports from Slovakia

Urea and thiourea resins exports from Slovakia plummeted to X tons in 2022, dropping by -15.9% against 2021 figures. Overall, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 59% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, urea and thiourea resins exports skyrocketed to $X in 2022. In general, total exports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +119.1% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 67% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

Poland (X tons), Ukraine (X tons) and Croatia (X tons) were the main destinations of urea and thiourea resins exports from Slovakia, together accounting for 96% of total exports.

From 2012 to 2022, the biggest increases were recorded for Ukraine (with a CAGR of +64.1%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for urea and thiourea resins exported from Slovakia were Poland ($X), Ukraine ($X) and Croatia ($X), together accounting for 95% of total exports.

Ukraine, with a CAGR of +74.1%, saw the highest growth rate of the value of exports, among 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 2022, the average urea and thiourea resins export price amounted to $X per ton, rising by 56% against the previous year. In general, the export price saw a resilient expansion. The growth pace was the most rapid in 2021 an increase of 61% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the near future.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the Czech Republic ($X per ton) and Ukraine ($X per ton), while the average price for exports to Poland ($X per ton) and Croatia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ukraine (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Urea Resins And Thiourea Resins In Primary Forms

Imports into Slovakia

In 2022, approx. X tons of urea resins and thiourea resins in primary forms were imported into Slovakia; waning by -27.3% on the previous year. In general, imports, however, continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2015 with an increase of 201%. Over the period under review, imports reached the peak figure at X tons in 2021, and then declined significantly in the following year.

In value terms, urea and thiourea resins imports expanded modestly to $X in 2022. Overall, imports, however, showed prominent growth. The most prominent rate of growth was recorded in 2015 with an increase of 135%. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, Austria (X tons) constituted the largest supplier of urea and thiourea resins to Slovakia, accounting for a 88% share of total imports. Moreover, urea and thiourea resins imports from Austria exceeded the figures recorded by the second-largest supplier, Hungary (X tons), more than tenfold. Sweden (X tons) ranked third in terms of total imports with a 2.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Austria amounted to +10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+27.7% per year) and Sweden (+25.1% per year).

In value terms, Austria ($X) constituted the largest supplier of urea resins and thiourea resins in primary forms to Slovakia, comprising 77% of total imports. The second position in the ranking was taken by Hungary ($X), with a 9.8% share of total imports. It was followed by Sweden, with a 4.2% share.

From 2012 to 2022, the average annual growth rate of value from Austria amounted to +15.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+41.0% per year) and Sweden (+33.3% per year).

Import Prices by Country

The average urea and thiourea resins import price stood at $X per ton in 2022, jumping by 43% against the previous year. Overall, the import price recorded temperate growth. The growth pace was the most rapid in 2021 when the average import price increased by 43%. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+10.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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