Global Epoxide Resin Market 2024

Epoxide Resin Market Size

In 2021, the global epoxide resin market increased by 19% to $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +1.7% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Epoxide Resin Production

In value terms, epoxide resin production rose markedly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.2% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when the production volume increased by 10% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, global production growth failed to regain momentum.

Epoxide Resin Exports

Exports

In 2021, the amount of epoxide resins exported worldwide expanded remarkably to X tons, growing by 8.5% compared with the previous year. The total export volume increased at an average annual rate of +2.1% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 8.8%. Over the period under review, the global exports attained the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, epoxide resin exports surged to $X in 2021. Over the period under review, total exports indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, 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

In 2021, South Korea (X tons), Germany (X tons) and Taiwan (Chinese) (X tons) represented the main exporter of epoxide resins in the world, making up 50% of total export. The United States (X tons) held an 8.2% share (based on physical terms) of total exports, which put it in second place, followed by China (6.9%) and the Netherlands (6%). The Czech Republic (X tons), Thailand (X tons), Switzerland (X tons), Japan (X tons), Italy (X tons) and India (X tons) took a little share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by India (with a CAGR of +17.4%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest epoxide resin supplying countries worldwide were South Korea ($X), Germany ($X) and Taiwan (Chinese) ($X), with a combined 48% share of global exports. The United States, Japan, the Netherlands, China, Switzerland, Thailand, the Czech Republic, Italy and India lagged somewhat behind, together comprising a further 38%.

Among the main exporting countries, India, with a CAGR of +19.9%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average epoxide resin export price stood at $X per ton in 2021, surging by 41% against the previous year. Over the last nine years, 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.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+3.5%), while the other global leaders experienced more modest paces of growth.

Epoxide Resin Imports

Imports

In 2021, overseas purchases of epoxide resins increased by 8.7% to X tons for the first time since 2017, thus ending a three-year declining trend. The total import volume increased at an average annual rate of +2.3% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, epoxide resin imports surged to $X in 2021. The total import value increased at an average annual rate of +4.1% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons), distantly followed by Germany (X tons) and the United States (X tons) were the major importers of epoxide resins, together achieving 33% of total imports. Turkey (X tons), Italy (X tons), the Netherlands (X tons), India (X tons), the UK (X tons), Russia (X tons), France (X tons), the United Arab Emirates (X tons), Japan (X tons) and Brazil (X tons) held a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to epoxide resin imports into China stood at +5.2%. At the same time, Turkey (+13.0%), Russia (+7.3%), the United Arab Emirates (+6.0%), the Netherlands (+5.8%), India (+5.0%), the United States (+4.9%), Italy (+4.7%), Japan (+2.9%), France (+1.6%) and the UK (+1.4%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing importer imported in the world, with a CAGR of +13.0% from 2012-2021. Brazil and Germany experienced a relatively flat trend pattern. China (+3.8 p.p.), Turkey (+2.6 p.p.) and the United States (+1.5 p.p.) significantly strengthened its position in terms of the global imports, while Germany saw its share reduced by -2.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported epoxide resins worldwide, comprising 16% of global imports. The second position in the ranking was taken by Germany ($X), with an 8% share of global imports. It was followed by the United States, with a 7.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China amounted to +6.2%. In the other countries, the average annual rates were as follows: Germany (+2.2% per year) and the United States (+5.7% per year).

Import Prices by Country

In 2021, the average epoxide resin import price amounted to $X per ton, with an increase of 39% 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 somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in the UK ($X per ton) and Russia ($X per ton), while the United Arab Emirates ($X per ton) and India ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+4.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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