China: Resinoids Market 2022

Resinoids Market Size in China

The Chinese resinoids market was finally on the rise to reach $X in 2021, after four years of decline. In general, the total consumption indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -29.8% against 2016 indices. Resinoids consumption peaked at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Resinoids Production in China

In value terms, resinoids production rose markedly to $X in 2021 estimated in export price. Over the period under review, the total production indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -26.0% against 2016 indices. The growth pace was the most rapid in 2013 when the production volume increased by 75% against the previous year. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

Resinoids Exports

Exports from China

Resinoids exports from China skyrocketed to X tons in 2021, rising by 33% against the previous year's figure. In general, exports recorded prominent growth. The most prominent rate of growth was recorded in 2013 when exports increased by 674% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, resinoids exports soared to $X in 2021. Overall, exports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2013 with an increase of 1,103% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Haiti (X tons), Thailand (X tons) and Iraq (X tons) were the main destinations of resinoids exports from China, together accounting for 54% of total exports. Malaysia, Saudi Arabia, Yemen, Indonesia, Nigeria, Germany, Jamaica, the United States, Chile and Morocco lagged somewhat behind, together comprising a further 35%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Indonesia (with a CAGR of +141.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for resinoids exported from China were Haiti ($X), Germany ($X) and Thailand ($X), with a combined 52% share of total exports. Malaysia, Nigeria, Saudi Arabia, the United States, Indonesia, Iraq, Yemen, Jamaica, Morocco and Chile lagged somewhat behind, together comprising a further 25%.

Indonesia, with a CAGR of +143.9%, saw the highest rates of growth with regard to 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.

Export Prices by Country

The average resinoids export price stood at $X per ton in 2021, growing by 44% against the previous year. Over the period under review, the export price posted a pronounced increase. The most prominent rate of growth was recorded in 2013 an increase of 55% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Germany ($X per ton), while the average price for exports to Iraq ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+24.2%), while the prices for the other major destinations experienced more modest paces of growth.

Resinoids Imports

Imports into China

In 2021, imports of resinoids into China skyrocketed to X tons, with an increase of 53% compared with 2020. Over the period under review, imports enjoyed strong growth. The most prominent rate of growth was recorded in 2018 with an increase of 82%. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, resinoids imports declined to $X in 2021. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 134%. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest resinoids supplier to China, accounting for a 56% share of total imports. Moreover, resinoids imports from Germany exceeded the figures recorded by the second-largest supplier, the UK (X tons), fourfold. The third position in this ranking was held by the United States (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from Germany amounted to +64.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+18.0% per year) and the United States (+22.9% per year).

In value terms, France ($X) constituted the largest supplier of resinoids to China, comprising 36% of total imports. The second position in the ranking was taken by Germany ($X), with a 16% share of total imports. It was followed by the UK, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from France amounted to -8.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+36.4% per year) and the UK (+22.7% per year).

Import Prices by Country

The average resinoids import price stood at $X per ton in 2021, which is down by -40.3% against the previous year. Overall, the import price showed a deep downturn. The pace of growth appeared the most rapid in 2014 when the average import price increased by 38% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was France ($X per ton), while the price for Germany ($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 United Arab Emirates (+33.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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