Asia: Market for Urea Resins And Thiourea Resins In Primary Forms 2024

Market Size for Urea Resins And Thiourea Resins In Primary Forms in Asia

The Asian urea and thiourea resins market shrank slightly to $X in 2022, approximately mirroring the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Production of Urea Resins And Thiourea Resins In Primary Forms in Asia

In value terms, urea and thiourea resins production declined slightly to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Exports of Urea Resins And Thiourea Resins In Primary Forms

Exports in Asia

Urea and thiourea resins exports rose remarkably to X tons in 2022, surging by X% compared with the year before. Total exports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2013 indices. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, urea and thiourea resins exports surged to $X in 2022. Total exports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

Exports by Country

The biggest shipments were from Turkey (X tons), Malaysia (X tons) and China (X tons), together accounting for X% of total export. Oman (X tons) held an X% share (based on physical terms) of total exports, which put it in second place, followed by India (X%) and Saudi Arabia (X%). Indonesia (X tons) followed a long way behind the leaders.

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

In value terms, the largest urea and thiourea resins supplying countries in Asia were China ($X), Turkey ($X) and Malaysia ($X), together comprising X% of total exports. Oman, Indonesia, Saudi Arabia and India lagged somewhat behind, together accounting for a further X%.

Among the main exporting countries, Oman, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, growing by X% against the previous year. In general, the export price, however, saw a mild setback. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while India ($X per ton) was amongst the lowest.

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

Imports of Urea Resins And Thiourea Resins In Primary Forms

Imports in Asia

In 2022, after two years of growth, there was significant decline in purchases abroad of urea resins and thiourea resins in primary forms, when their volume decreased by X% to X tons. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when imports increased by X%. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, urea and thiourea resins imports expanded slightly to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Thailand (X tons) represented the major importer of urea resins and thiourea resins in primary forms, mixing up X% of total imports. Bangladesh (X tons) took the second position in the ranking, followed by Turkmenistan (X tons), the United Arab Emirates (X tons), Indonesia (X tons), Vietnam (X tons) and the Philippines (X tons). All these countries together held approx. X% share of total imports. China (X tons), Nepal (X tons), Brunei Darussalam (X tons), Malaysia (X tons), India (X tons) and Azerbaijan (X tons) followed a long way behind the leaders.

Imports into Thailand increased at an average annual rate of X% from 2012 to 2022. At the same time, Brunei Darussalam (X%), Azerbaijan (X%), the United Arab Emirates (X%), Turkmenistan (X%), the Philippines (X%), Vietnam (X%), Nepal (X%), India (X%) and Bangladesh (X%) displayed positive paces of growth. Moreover, Brunei Darussalam emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2022. By contrast, Indonesia (X%), Malaysia (X%) and China (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkmenistan, the United Arab Emirates, the Philippines, Vietnam, Brunei Darussalam, Nepal, Bangladesh and Azerbaijan increased by X, X, X, X, X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest urea and thiourea resins importing markets in Asia were Thailand ($X), Indonesia ($X) and China ($X), with a combined X% share of total imports. The Philippines, Vietnam, Malaysia, Bangladesh, India, the United Arab Emirates, Turkmenistan, Brunei Darussalam, Nepal and Azerbaijan lagged somewhat behind, together comprising a further X%.

Brunei Darussalam, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, rising by X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform