China - Amino Resins - Market Analysis, Forecast, Size, Trends And Insights
China's Amino Resin Price Drops to $1,660 per Ton in 2023, Exhibiting Unstable Fluctuation
China Amino Resin Export Price in February 2023
In February 2023, the amino resin price amounted to $1,660 per ton (FOB, China), dropping by -5.8% against the previous month. In general, the export price recorded a noticeable descent. The pace of growth was the most pronounced in July 2022 when the average export price increased by 8% m-o-m. Over the period under review, the average export prices hit record highs at $2,300 per ton in May 2022; however, from June 2022 to February 2023, the export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was the United Arab Emirates ($2,197 per ton), while the average price for exports to the Netherlands ($1,458 per ton) was amongst the lowest.
From February 2022 to February 2023, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (-1.5%), while the prices for the other major destinations experienced a decline.
China Amino Resin Exports
In February 2023, the amount of amino resins exported from China soared to 116K tons, rising by 27% against January 2023. Over the period under review, exports recorded strong growth. The pace of growth was the most pronounced in January 2023 with an increase of 73% against the previous month. Over the period under review, the exports reached the peak figure at 117K tons in June 2022; however, from July 2022 to February 2023, the exports stood at a somewhat lower figure.
In value terms, amino resin exports skyrocketed to $193M (IndexBox estimates) in February 2023. In general, exports recorded a pronounced increase. The growth pace was the most rapid in March 2022 when exports increased by 74% month-to-month. Over the period under review, the exports attained the maximum at 263K tons in May 2022; however, from June 2022 to February 2023, the exports stood at a somewhat lower figure.
China Amino Resin Exports by Country
The United States (26K tons), the Netherlands (23K tons) and Turkey (8.9K tons) were the main destinations of amino resin exports from China, together accounting for 49% of total exports.
From February 2022 to February 2023, the biggest increases were in the Netherlands (with a CAGR of +18.5%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, the United States ($40M), the Netherlands ($33M) and Russia ($15M) were the largest markets for amino resin exported from China worldwide, together comprising 46% of total exports.
the Netherlands, with a CAGR of +15.1%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Fluctuations in Amino Resin Prices Impact China's Economy as Global Production Surges and Environmental Regulations Change
Amino resins are widely used in the production of adhesives, foams, coatings, and other products across the world. In China, the production and usage of amino resin are also high, making it one of the significant contributors to the country's economy. However, over the past year, the price of amino resin in China has seen wild fluctuations.
Several factors have contributed to these fluctuations. Firstly, increased production in China as well as globally has resulted in a surplus of supply. As a result, prices of amino resin have dropped as suppliers compete for a share of the market. Secondly, changing environmental regulations in China have impacted the cost of production due to increased compliance costs. In addition, rising raw material costs for amino resin production in China have also contributed to the price fluctuations.
The decline in amino resin prices has been a significant relief for companies that rely heavily on the product. However, it has also put a strain on suppliers in China who have had to adapt to the changing market conditions. Going forward, analysts predict that price fluctuations in amino resin will continue to be volatile, with factors such as global supply and demand, environmental regulations, and raw material costs having significant impacts.
This report provides an in-depth analysis of the amino resin market in China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
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