Southern Asia: Epoxide Resin Market 2024

Epoxide Resin Market Size in Southern Asia

In 2021, the South Asian epoxide resin market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +3.0% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Epoxide Resin Production in Southern Asia

In value terms, epoxide resin production reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 28% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Epoxide Resin Exports

Exports in Southern Asia

In 2021, after two years of decline, there was significant growth in shipments abroad of epoxide resins, when their volume increased by 51% to X tons. Over the period under review, exports recorded a buoyant increase. The pace of growth was the most pronounced in 2015 when exports increased by 122%. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, epoxide resin exports skyrocketed to $X in 2021. In general, exports saw a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The shipments of the one major exporters of epoxide resins, namely India, represented more than two-thirds of total export.

India was also the fastest-growing in terms of the epoxide resins exports, with a CAGR of +17.4% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest epoxide resin supplier in Southern Asia.

From 2012 to 2021, the average annual rate of growth in terms of value in India amounted to +19.9%.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, with an increase of 62% against the previous year. Export price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +2.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2021, the rate of growth in terms of prices for India amounted to +2.1% per year.

Epoxide Resin Imports

Imports in Southern Asia

In 2021, the amount of epoxide resins imported in Southern Asia surged to X tons, picking up by 37% on the previous year. The total import volume increased at an average annual rate of +5.5% over the period from 2012 to 2021; however, 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.

In value terms, epoxide resin imports soared to $X in 2021. Total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +7.3% 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

India dominates imports structure, reaching X tons, which was approx. 86% of total imports in 2021. Bangladesh (X tons) held a 5.6% share (based on physical terms) of total imports, which put it in second place, followed by Pakistan (5.4%). Sri Lanka (X tons) followed a long way behind the leaders.

Imports into India increased at an average annual rate of +5.0% from 2012 to 2021. At the same time, Bangladesh (+22.9%), Sri Lanka (+8.9%) and Pakistan (+1.6%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +22.9% from 2012-2021. Bangladesh (+4.1 p.p.) significantly strengthened its position in terms of the total imports, while Pakistan and India saw its share reduced by -2.2% and -3.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported epoxide resins in Southern Asia, comprising 88% of total imports. The second position in the ranking was held by Bangladesh ($X), with a 4.8% share of total imports. It was followed by Pakistan, with a 4.6% share.

In India, epoxide resin imports increased at an average annual rate of +6.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Bangladesh (+26.1% per year) and Pakistan (+4.9% per year).

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per ton, growing by 42% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.7%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in India ($X per ton) and Sri Lanka ($X per ton), while Pakistan ($X per ton) and Bangladesh ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+3.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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