South-Eastern Asia: Epoxide Resin Market 2024

Epoxide Resin Market Size in South-Eastern Asia

The Southeast Asian epoxide resin market rose remarkably to $X in 2021, growing by 8.1% against the previous year. The market value increased at an average annual rate of +1.5% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. Over the period under review, the market reached the maximum level in 2021 and is likely to see steady growth in years to come.

Epoxide Resin Production in South-Eastern Asia

In value terms, epoxide resin production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of 35%. As a result, production attained the peak level of $X, and then shrank in the following year.

Epoxide Resin Exports

Exports in South-Eastern Asia

In 2021, epoxide resin exports in South-Eastern Asia rose remarkably to X tons, surging by 8.7% compared with 2020 figures. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 17%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, epoxide resin exports soared to $X in 2021. The total export value increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Thailand represented the largest exporting country with an export of about X tons, which reached 58% of total exports. Singapore (X tons) took a 22% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (14%). The following exporters - the Philippines (X tons) and Indonesia (X tons) - each reached a 5.7% share of total exports.

Exports from Thailand increased at an average annual rate of +1.1% from 2012 to 2021. At the same time, the Philippines (+7.0%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +7.0% from 2012-2021. By contrast, Malaysia (-2.1%), Singapore (-3.4%) and Indonesia (-7.2%) illustrated a downward trend over the same period. Thailand (+8.6 p.p.) and the Philippines (+1.5 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia, Indonesia and Singapore saw its share reduced by -2%, -2.2% and -6.1% from 2012 to 2021, respectively.

In value terms, the largest epoxide resin supplying countries in South-Eastern Asia were Thailand ($X), Singapore ($X) and Malaysia ($X), together accounting for 97% of total exports.

Thailand, with a CAGR of +3.9%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, jumping by 30% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.1%. As a result, the export price attained 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 2021, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+4.0%), while the other leaders experienced more modest paces of growth.

Epoxide Resin Imports

Imports in South-Eastern Asia

In 2021, overseas purchases of epoxide resins were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when imports increased by 9.2% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, epoxide resin imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.5% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Thailand (X tons), Indonesia (X tons) and Malaysia (X tons) represented roughly 60% of total imports in 2021. It was distantly followed by Vietnam (X tons), the Philippines (X tons) and Singapore (X tons), together creating a 36% share of total imports. Cambodia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Cambodia (with a CAGR of +54.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Malaysia ($X) and Indonesia ($X) constituted the countries with the highest levels of imports in 2021, together comprising 62% of total imports. The Philippines, Singapore, Vietnam and Cambodia lagged somewhat behind, together comprising a further 38%.

In terms of the main importing countries, Cambodia, with a CAGR of +46.1%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2021, surging by 29% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.8%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Thailand ($X per ton), while Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+3.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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