Eastern Asia: Resinoids Market 2022

Resinoids Market Size in Eastern Asia

The East Asian resinoids market rose notably to $X in 2021, picking up by 12% against the previous year. The total consumption indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +2.3% 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 -36.0% against 2016 indices. The level of consumption peaked at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Resinoids Production in Eastern Asia

In value terms, resinoids production rose rapidly to $X in 2021 estimated in export price. The total production indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +2.6% 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 -11.1% against 2019 indices. The pace of growth was the most pronounced in 2013 with an increase of 48%. Over the period under review, production attained the maximum level at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Resinoids Exports

Exports in Eastern Asia

In 2021, after two years of decline, there was significant growth in overseas shipments of resinoids, when their volume increased by 25% to X tons. In general, exports, however, showed a slight contraction. The most prominent rate of growth was recorded in 2013 with an increase of 227% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, resinoids exports surged to $X in 2021. Overall, exports recorded noticeable growth. The growth pace was the most rapid in 2013 when exports increased by 428%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

China was the key exporter of resinoids in Eastern Asia, with the volume of exports resulting at X tons, which was near 79% of total exports in 2021. It was distantly followed by Taiwan (Chinese) (X tons), making up a 20% share of total exports.

China was also the fastest-growing in terms of the resinoids exports, with a CAGR of +7.6% from 2012 to 2021. Taiwan (Chinese) (-11.6%) illustrated a downward trend over the same period. China (+45 p.p.) significantly strengthened its position in terms of the total exports, while Taiwan (Chinese) saw its share reduced by -31.3% from 2012 to 2021, respectively.

In value terms, China ($X) remains the largest resinoids supplier in Eastern Asia, comprising 89% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 9.3% share of total exports.

In China, resinoids exports increased at an average annual rate of +12.0% over the period from 2012-2021.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, growing by 39% against the previous year. In general, the export price recorded noticeable growth. The most prominent rate of growth was recorded in 2013 when the export price increased by 62%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was China ($X per ton), while Taiwan (Chinese) stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.1%).

Resinoids Imports

Imports in Eastern Asia

In 2021, overseas purchases of resinoids decreased by -7.9% to X tons for the first time since 2016, thus ending a four-year rising trend. Over the period under review, imports recorded a abrupt descent. The pace of growth was the most pronounced in 2013 with an increase of 29%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, resinoids imports shrank rapidly to $X in 2021. In general, imports saw a abrupt decline. The pace of growth appeared the most rapid in 2019 with an increase of 62%. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Hong Kong SAR (X tons) and China (X tons) prevails in imports structure, together mixing up 88% of total imports. It was distantly followed by Taiwan (Chinese) (X tons), achieving a 5.2% share of total imports. The following importers - South Korea (X tons) and Japan (X tons) - together made up 5.9% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by China (with a CAGR of +6.1%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, China ($X) constitutes the largest market for imported resinoids in Eastern Asia, comprising 51% of total imports. The second position in the ranking was taken by Japan ($X), with an 18% share of total imports. It was followed by Hong Kong SAR, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Japan (-14.8% per year) and Hong Kong SAR (-13.9% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, shrinking by -17.7% against the previous year. In general, the import price recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2016 when the import price increased by 41%. The level of import peaked at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+8.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Market Intelligence Platform

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