South-Eastern Asia: Resinoids Market 2024

Resinoids Market Size in South-Eastern Asia

In 2022, the Southeast Asian resinoids market decreased by -5.1% to $X, falling for the seventh year in a row after four years of growth. Overall, consumption recorded a abrupt decrease. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Resinoids Production in South-Eastern Asia

In value terms, resinoids production contracted to $X in 2022 estimated in export price. Over the period under review, production recorded a abrupt setback. The most prominent rate of growth was recorded in 2015 when the production volume increased by 27% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Resinoids Exports

Exports in South-Eastern Asia

In 2022, overseas shipments of resinoids increased by 0.5% to X tons, rising for the second consecutive year after five years of decline. Over the period under review, exports, however, recorded a abrupt shrinkage. The growth pace was the most rapid in 2015 when exports increased by 41% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, resinoids exports rose significantly to $X in 2022. In general, exports, however, showed a abrupt descent. The growth pace was the most rapid in 2015 with an increase of 29% against the previous year. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Indonesia was the largest exporter of resinoids in South-Eastern Asia, with the volume of exports recording X tons, which was approx. 61% of total exports in 2022. It was distantly followed by Malaysia (X tons), Singapore (X tons) and Thailand (X tons), together achieving a 38% share of total exports.

Indonesia experienced a relatively flat trend pattern with regard to volume of exports of resinoids. At the same time, Thailand (+30.9%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +30.9% from 2012-2022. By contrast, Malaysia (-6.9%) and Singapore (-24.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Indonesia, Thailand and Malaysia increased by +41, +8.2 and +5.5 percentage points, respectively.

In value terms, Indonesia ($X) remains the largest resinoids supplier in South-Eastern Asia, comprising 56% of total exports. The second position in the ranking was held by Singapore ($X), with a 22% share of total exports. It was followed by Malaysia, with a 10% share.

In Indonesia, resinoids exports shrank by an average annual rate of -4.3% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (-13.9% per year) and Malaysia (-5.7% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, increasing by 8.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.0%. The pace of growth appeared the most rapid in 2014 when the export price increased by 23% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is likely to continue growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+13.9%), while the other leaders experienced mixed trends in the export price figures.

Resinoids Imports

Imports in South-Eastern Asia

In 2022, after three years of decline, there was significant growth in purchases abroad of resinoids, when their volume increased by 36% to X tons. In general, imports showed a mild increase. The growth pace was the most rapid in 2015 with an increase of 163% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, resinoids imports surged to $X in 2022. Over the period under review, imports, however, continue to indicate a mild descent. The most prominent rate of growth was recorded in 2015 with an increase of 61% against the previous year. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of resinoids imports in 2022 were Indonesia (X tons), Malaysia (X tons) and Singapore (X tons), together reaching 80% of total import. It was distantly followed by Vietnam (X tons), mixing up a 10% share of total imports. The Philippines (X tons), Cambodia (X tons) and Thailand (X tons) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Vietnam (with a CAGR of +39.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest resinoids importing markets in South-Eastern Asia were Indonesia ($X), Singapore ($X) and Malaysia ($X), together accounting for 91% of total imports.

In terms of the main importing countries, Malaysia, with a CAGR of +18.3%, 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 2022, which is down by -15.5% against the previous year. Overall, the import price recorded a noticeable setback. The pace of growth was the most pronounced in 2021 when the import price increased by 15% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cambodia (+3.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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