EU Epoxide Resins Market - German Output Posted Solid Gains for the Fifth Consecutive Year, Driven by Expanding Exports

IndexBox has just published a new report: 'EU - Epoxide Resins In Primary Forms - Market Analysis, Forecast, Size, Trends And Insights'. Here is a summary of the report's key findings.

The revenue of the epoxide resins market in the European Union amounted to $1.9B in 2018, waning by -1.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, epoxide resins consumption continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the market value increased by 15% year-to-year. Over the period under review, the epoxide resins market attained its maximum level at $2B in 2008; however, from 2009 to 2018, consumption failed to regain its momentum.

Consumption By Country in the EU

The countries with the highest volumes of epoxide resins consumption in 2018 were Germany (116K tonnes), Italy (68K tonnes) and the UK (51K tonnes), with a combined 50% share of total consumption. These countries were followed by Poland, Spain, the Netherlands, France, Portugal, Denmark, the Czech Republic, Sweden and Belgium, which together accounted for a further 40%.

From 2007 to 2018, the most notable rate of growth in terms of epoxide resins consumption, amongst the main consuming countries, was attained by the Czech Republic, while the other leaders experienced more modest paces of growth.

In value terms, the UK ($333M), France ($287M) and Germany ($248M) constituted the countries with the highest levels of market value in 2018, together accounting for 46% of the total market. Italy, Spain, Denmark, Poland, Belgium, Portugal, the Czech Republic, the Netherlands and Sweden lagged somewhat behind, together accounting for a further 41%.

The countries with the highest levels of epoxide resins per capita consumption in 2018 were Denmark (2,466 kg per 1000 persons), the Netherlands (1,687 kg per 1000 persons) and Germany (1,416 kg per 1000 persons).

From 2007 to 2018, the most notable rate of growth in terms of epoxide resins per capita consumption, amongst the main consuming countries, was attained by the Czech Republic, while the other leaders experienced more modest paces of growth.

Production in the EU

The epoxide resins production totaled 518K tonnes in 2018, remaining stable against the previous year. Overall, epoxide resins production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 with an increase of 15% y-o-y. In that year, epoxide resins production reached its peak volume of 607K tonnes. From 2009 to 2018, epoxide resins production growth remained at a lower figure.

In value terms, epoxide resins production stood at $1.3B in 2018 estimated in export prices. Over the period under review, epoxide resins production continues to indicate a slight decline. The growth pace was the most rapid in 2011 with an increase of 13% y-o-y. The level of epoxide resins production peaked at $1.5B in 2007; however, from 2008 to 2018, production failed to regain its momentum.

Production By Country in the EU

Germany (232K tonnes) remains the largest epoxide resins producing country in the European Union, accounting for 45% of total production. Moreover, epoxide resins production in Germany exceeded the figures recorded by the region's second-largest producer, the Netherlands (114K tonnes), twofold. The Czech Republic (57K tonnes) ranked third in terms of total production with a 11% share.

In Germany, epoxide resins production increased at an average annual rate of +4.4% over the period from 2007-2018. The remaining producing countries recorded the following average annual rates of production growth: the Netherlands (-1.5% per year) and the Czech Republic (+8.3% per year).

Exports in the EU

In 2018, the amount of epoxide resins in primary forms exported in the European Union stood at 628K tonnes, remaining constant against the previous year. Over the period under review, epoxide resins exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2010 when exports increased by 26% against the previous year. The volume of exports peaked in 2018 and are likely to continue its growth in the near future.

In value terms, epoxide resins exports totaled $2.4B (IndexBox estimates) in 2018. In general, epoxide resins exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2010 with an increase of 23% year-to-year. The level of exports peaked at $2.5B in 2008; however, from 2009 to 2018, exports remained at a lower figure.

Exports by Country

Germany was the major exporting country with an export of around 284K tonnes, which amounted to 45% of total exports. It was distantly followed by the Netherlands (133K tonnes), the Czech Republic (54K tonnes) and Italy (38K tonnes), together making up a 36% share of total exports. France (22K tonnes), Austria (19K tonnes) and Spain (19K tonnes) held a little share of total exports.

From 2007 to 2018, average annual rates of growth with regard to epoxide resins exports from Germany stood at +1.4%. At the same time, Austria (+6.4%), the Czech Republic (+4.6%) and Spain (+1.5%) displayed positive paces of growth. Moreover, Austria emerged as the fastest-growing exporter in the European Union, with a CAGR of +6.4% from 2007-2018. Italy and France experienced a relatively flat trend pattern. By contrast, the Netherlands (-1.4%) illustrated a downward trend over the same period. While the share of Germany (+6.6 p.p.), the Czech Republic (+3.4 p.p.) and Austria (+1.5 p.p.) increased significantly in terms of the total exports from 2007-2018, the share of the Netherlands (-3.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($1.2B) remains the largest epoxide resins supplier in the European Union, comprising 49% of total epoxide resins exports. The second position in the ranking was occupied by the Netherlands ($376M), with a 16% share of total exports. It was followed by the Czech Republic, with a 6.7% share.

From 2007 to 2018, the average annual growth rate of value in Germany totaled +1.4%. In the other countries, the average annual rates were as follows: the Netherlands (-0.9% per year) and the Czech Republic (+3.0% per year).

Export Prices by Country

The epoxide resins export price in the European Union stood at $3,802 per tonne in 2018, rising by 12% against the previous year. Over the period under review, the epoxide resins export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2011 an increase of 14% against the previous year. In that year, the export prices for epoxide resins in primary forms reached their peak level of $4,389 per tonne. From 2012 to 2018, the growth in terms of the export prices for epoxide resins in primary forms failed to regain its momentum.

Prices varied noticeably by the country of origin; the country with the highest price was France ($4,678 per tonne), while the Netherlands ($2,834 per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by France, while the other leaders experienced more modest paces of growth.

Imports in the EU

The imports stood at 579K tonnes in 2018, dropping by -2.3% against the previous year. Overall, epoxide resins imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2010 when imports increased by 20% year-to-year. The volume of imports peaked at 600K tonnes in 2007; however, from 2008 to 2018, imports failed to regain their momentum.

In value terms, epoxide resins imports amounted to $2.2B (IndexBox estimates) in 2018. Overall, epoxide resins imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2010 when imports increased by 27% year-to-year. Over the period under review, epoxide resins imports attained their peak figure at $2.4B in 2008; however, from 2009 to 2018, imports failed to regain their momentum.

Imports by Country

Germany represented the main importer of epoxide resins in primary forms in the European Union, with the volume of imports amounting to 168K tonnes, which was near 29% of total imports in 2018. Italy (66K tonnes) took an 11% share (based on tonnes) of total imports, which put it in second place, followed by the UK (9.3%), the Netherlands (8.2%), France (7.3%) and Spain (7%). Poland (23K tonnes), Belgium (22K tonnes), Austria (21K tonnes), Denmark (16K tonnes), Portugal (15K tonnes) and Sweden (14K tonnes) occupied a minor share of total imports.

Germany experienced a relatively flat trend pattern of epoxide resins in primary forms imports. At the same time, Denmark (+7.0%), Poland (+6.7%), Portugal (+3.9%) and Italy (+2.6%) displayed positive paces of growth. Moreover, Denmark emerged as the fastest-growing importer in the European Union, with a CAGR of +7.0% from 2007-2018. Sweden experienced a relatively flat trend pattern. By contrast, the Netherlands (-1.2%), the UK (-1.4%), Belgium (-2.0%), France (-2.8%), Spain (-2.8%) and Austria (-3.6%) illustrated a downward trend over the same period. Italy (+2.8 p.p.) and Poland (+2 p.p.) significantly strengthened its position in terms of the total imports, while the UK, Austria, Spain and France saw its share reduced by -1.6%, -1.8%, -2.6% and -2.7% from 2007 to 2018, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($669M) constitutes the largest market for imported epoxide resins in primary forms in the European Union, comprising 30% of total epoxide resins imports. The second position in the ranking was occupied by the UK ($230M), with a 10% share of total imports. It was followed by Italy, with a 9.8% share.

From 2007 to 2018, the average annual rate of growth in terms of value in Germany was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: the UK (-0.3% per year) and Italy (+0.6% per year).

Import Prices by Country

The epoxide resins import price in the European Union stood at $3,856 per tonne in 2018, rising by 16% against the previous year. In general, the epoxide resins import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 16% against the previous year. Over the period under review, the import prices for epoxide resins in primary forms reached their maximum at $4,406 per tonne in 2011; however, from 2012 to 2018, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2018, major importing countries recorded the following prices: in Austria ($4,563 per tonne) and Portugal ($4,283 per tonne), while the Netherlands ($3,123 per tonne) and Italy ($3,304 per tonne) were amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Austria, while the other leaders experienced more modest paces of growth.

Source: IndexBox AI Platform