United Arab Emirates: Alkyd Resins Market 2024

Alkyd Resins Market Size in the United Arab Emirates

In 2022, the alkyd resins market in the United Arab Emirates was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. In general, consumption, however, saw a abrupt curtailment. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Alkyd Resins Production in the United Arab Emirates

In value terms, alkyd resins production totaled $X in 2022 estimated in export price. In general, production, however, enjoyed a measured expansion. The pace of growth appeared the most rapid in 2019 when the production volume increased by 77%. Alkyd resins production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Alkyd Resins Exports

Exports from the United Arab Emirates

In 2022, shipments abroad of alkyd resins in primary forms decreased by -8.7% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, enjoyed buoyant growth. The pace of growth was the most pronounced in 2019 with an increase of 93% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then reduced in the following year.

In value terms, alkyd resins exports plummeted to $X in 2022. Overall, exports, however, posted a buoyant expansion. The growth pace was the most rapid in 2019 when exports increased by 55%. The exports peaked at $X in 2021, and then shrank notably in the following year.

Exports by Country

India (X tons) was the main destination for alkyd resins exports from the United Arab Emirates, with a 27% share of total exports. Moreover, alkyd resins exports to India exceeded the volume sent to the second major destination, Tanzania (X tons), twofold. Jordan (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to India totaled +37.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tanzania (+90.3% per year) and Jordan (+18.6% per year).

In value terms, Jordan ($X), Tanzania ($X) and India ($X) were the largest markets for alkyd resins exported from the United Arab Emirates worldwide, together accounting for 43% of total exports. Singapore, Rwanda, Zimbabwe, Bahrain, Sri Lanka, Australia and South Africa lagged somewhat behind, together comprising a further 33%.

Australia, with a CAGR of +462.2%, recorded the highest rates of growth with regard to 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 alkyd resins export price amounted to $X per ton, dropping by -8.8% against the previous year. Over the period under review, the export price showed a slight descent. The most prominent rate of growth was recorded in 2021 an increase of 24% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Jordan ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Tanzania (+7.8%), while the prices for the other major destinations experienced more modest paces of growth.

Alkyd Resins Imports

Imports into the United Arab Emirates

In 2022, after two years of growth, there was significant decline in purchases abroad of alkyd resins in primary forms, when their volume decreased by -19.8% to X tons. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 44%. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, alkyd resins imports fell notably to $X in 2022. In general, imports continue to indicate a mild descent. The growth pace was the most rapid in 2021 when imports increased by 43%. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, India (X tons) constituted the largest alkyd resins supplier to the United Arab Emirates, with a 41% share of total imports. Moreover, alkyd resins imports from India exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. Jordan (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from India totaled -4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+92.7% per year) and Jordan (+17.4% per year).

In value terms, India ($X) constituted the largest supplier of alkyd resins in primary forms to the United Arab Emirates, comprising 28% of total imports. The second position in the ranking was held by Jordan ($X), with a 12% share of total imports. It was followed by Italy, with a 7.5% share.

From 2012 to 2022, the average annual growth rate of value from India amounted to -7.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Jordan (+14.3% per year) and Italy (-3.1% per year).

Import Prices by Country

In 2022, the average alkyd resins import price amounted to $X per ton, increasing by 5.8% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by 24% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+1.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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