Southern Asia: Alkyd Resins Market 2024

Alkyd Resins Market Size in Southern Asia

The South Asian alkyd resins market contracted modestly to $X in 2022, flattening at the previous year. The market value increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of 5.5%. Over the period under review, the market attained the peak level at $X in 2021, and then shrank modestly in the following year.

Alkyd Resins Production in Southern Asia

In value terms, alkyd resins production declined modestly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 5.6%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Alkyd Resins Exports

Exports in Southern Asia

In 2022, exports of alkyd resins in primary forms in Southern Asia dropped rapidly to X tons, shrinking by -17.8% on 2021 figures. In general, exports showed a abrupt setback. The most prominent rate of growth was recorded in 2016 when exports increased by 44% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, alkyd resins exports shrank slightly to $X in 2022. Over the period under review, exports recorded a deep contraction. The most prominent rate of growth was recorded in 2021 with an increase of 30% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

India dominates exports structure, reaching X tons, which was approx. 97% of total exports in 2022. Sri Lanka (X tons) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to alkyd resins exports from India stood at -19.4%. At the same time, Sri Lanka (+31.8%) displayed positive paces of growth. Moreover, Sri Lanka emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +31.8% from 2012-2022. Sri Lanka (+2.1 p.p.) significantly strengthened its position in terms of the total exports, while India saw its share reduced by -2.7% from 2012 to 2022, respectively.

In value terms, India ($X) remains the largest alkyd resins supplier in Southern Asia, comprising 99% of total exports. The second position in the ranking was taken by Sri Lanka ($X), with a 0.7% share of total exports.

In India, alkyd resins exports plunged by an average annual rate of -18.2% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, jumping by 17% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2021 when the export price increased by 27%. The level of export peaked in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while Sri Lanka stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+1.5%).

Alkyd Resins Imports

Imports in Southern Asia

Alkyd resins imports plummeted to X tons in 2022, with a decrease of -28.9% against the previous year. Overall, imports, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of 92% against the previous year. As a result, imports attained the peak of X tons, and then declined markedly in the following year.

In value terms, alkyd resins imports reduced to $X in 2022. In general, imports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of 107%. As a result, imports reached the peak of $X, and then dropped in the following year.

Imports by Country

The countries with the highest levels of alkyd resins imports in 2022 were Bangladesh (X tons), Nepal (X tons), India (X tons) and Sri Lanka (X tons), together amounting to 91% of total import. It was distantly followed by Pakistan (X tons), creating an 8.5% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Bangladesh (with a CAGR of +21.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Pakistan ($X) and Bangladesh ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 74% of total imports.

India, with a CAGR of +21.6%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, growing by 21% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. As a result, import 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 importing countries. In 2022, amid the top importers, the country with the highest price was Pakistan ($X per ton), while Nepal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+4.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :