Overview of the Global Market for Urea Resins And Thiourea Resins In Primary Forms

Market Size for Urea Resins And Thiourea Resins In Primary Forms

The global urea and thiourea resins market reduced slightly to $X in 2022, remaining constant against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. Over the period under review, the global market reached the maximum level at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Production of Urea Resins And Thiourea Resins In Primary Forms

In value terms, urea and thiourea resins production fell modestly to $X in 2022 estimated in export price. Overall, production continues to indicate a mild reduction. The pace of growth was the most pronounced in 2014 when the production volume increased by 11%. Global production peaked at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Exports of Urea Resins And Thiourea Resins In Primary Forms

Exports

In 2022, approx. X tons of urea resins and thiourea resins in primary forms were exported worldwide; dropping by -8.5% against the previous year's figure. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when exports increased by 6.6%. Over the period under review, the global exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, urea and thiourea resins exports surged to $X in 2022. In general, total exports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +75.4% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 48% against the previous year. Over the period under review, the global exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The biggest shipments were from Poland (X tons), Germany (X tons) and Belgium (X tons), together finishing at 42% of total export. Russia (X tons) took a 6.8% share (based on physical terms) of total exports, which put it in second place, followed by Portugal (5.3%) and the Netherlands (4.6%). Turkey (X tons), Malaysia (X tons), Romania (X tons), China (X tons), the Czech Republic (X tons), the United States (X tons) and Slovakia (X tons) took a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +10.0%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest urea and thiourea resins supplying countries worldwide were Germany ($X), Poland ($X) and Belgium ($X), together accounting for 42% of global exports. China, Portugal, Turkey, the Netherlands, the United States, Romania, Russia, the Czech Republic, Malaysia and Slovakia lagged somewhat behind, together comprising a further 33%.

In terms of the main exporting countries, Turkey, with a CAGR of +12.3%, recorded the highest growth rate of 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 urea and thiourea resins export price stood at $X per ton in 2022, growing by 30% against the previous year. In general, export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, urea and thiourea resins export price increased by +81.1% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average export price increased by 40%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+6.2%), while the other global leaders experienced more modest paces of growth.

Imports of Urea Resins And Thiourea Resins In Primary Forms

Imports

In 2022, the amount of urea resins and thiourea resins in primary forms imported worldwide contracted to X tons, which is down by -10.8% compared with 2021 figures. The total import volume increased at an average annual rate of +1.0% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 16%. As a result, imports attained the peak of X tons, and then dropped in the following year.

In value terms, urea and thiourea resins imports skyrocketed to $X in 2022. In general, total imports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +90.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 60% against the previous year. Over the period under review, global imports reached the maximum in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, Germany (X tons), distantly followed by France (X tons), Poland (X tons), Belarus (X tons) and Ukraine (X tons) were the main importers of urea resins and thiourea resins in primary forms, together generating 53% of total imports. Austria (X tons), Spain (X tons), Italy (X tons), Switzerland (X tons), Nigeria (X tons), Bulgaria (X tons), Thailand (X tons) and Canada (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to urea and thiourea resins imports into Germany stood at +3.7%. At the same time, Nigeria (+38.8%), Canada (+16.0%), Poland (+14.0%), Belarus (+12.5%), Ukraine (+4.6%), Italy (+1.3%) and Thailand (+1.3%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing importer imported in the world, with a CAGR of +38.8% from 2012-2022. Bulgaria experienced a relatively flat trend pattern. By contrast, Switzerland (-1.6%), Spain (-2.8%), Austria (-5.2%) and France (-5.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Poland, Germany, Belarus, Nigeria and Canada increased by +5.7, +5.5, +3.7, +2.6 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) constitutes the largest market for imported urea resins and thiourea resins in primary forms worldwide, comprising 21% of global imports. The second position in the ranking was held by France ($X), with a 10% share of global imports. It was followed by Poland, with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Germany totaled +8.4%. In the other countries, the average annual rates were as follows: France (+0.1% per year) and Poland (+15.3% per year).

Import Prices by Country

The average urea and thiourea resins import price stood at $X per ton in 2022, surging by 34% against the previous year. Overall, import price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, urea and thiourea resins import price increased by +83.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 37%. Global import price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Canada ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+6.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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