Malaysia: Alkyd Resins Market 2024

Alkyd Resins Market Size in Malaysia

In 2022, the Malaysian alkyd resins market increased by X% to $X, rising for the fourth consecutive year after two years of decline. Overall, the total consumption indicated a modest increase 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, consumption increased by X% against 2018 indices. Alkyd resins consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Alkyd Resins Production in Malaysia

In value terms, alkyd resins production reduced to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the production volume increased by X% against the previous year. Alkyd resins production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

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Alkyd Resins Exports

Exports from Malaysia

In 2022, overseas shipments of alkyd resins in primary forms decreased by X% to X tons, falling for the third year in a row after two years of growth. Over the period under review, total exports indicated a moderate expansion 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 decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2018 when exports increased by X%. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, alkyd resins exports skyrocketed to $X in 2022. The total export value increased at an average annual rate of X% over the period 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 with an increase of X% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Vietnam (X tons) was the main destination for alkyd resins exports from Malaysia, accounting for a X% share of total exports. Moreover, alkyd resins exports to Vietnam exceeded the volume sent to the second major destination, Myanmar (X tons), fourfold. Singapore (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Vietnam totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (X% per year) and Singapore (X% per year).

In value terms, Vietnam ($X) remains the key foreign market for alkyd resins in primary forms exports from Malaysia, comprising X% of total exports. The second position in the ranking was held by Myanmar ($X), with a X% share of total exports. It was followed by Singapore, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Vietnam amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (X% per year) and Singapore (X% per year).

Export Prices by Country

In 2022, the average alkyd resins export price amounted to $X per ton, increasing by X% against the previous year. In general, the export price, however, recorded a mild decrease. The pace of growth was the most pronounced in 2021 when the average export price increased by X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Fiji (X%), while the prices for the other major destinations experienced mixed trend patterns.

Alkyd Resins Imports

Imports into Malaysia

In 2022, purchases abroad of alkyd resins in primary forms increased by X% to X tons, rising for the third consecutive year after two years of decline. Overall, imports showed a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, alkyd resins imports skyrocketed to $X in 2022. Over the period under review, total imports indicated noticeable 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, imports increased by X% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Japan (X tons) constituted the largest alkyd resins supplier to Malaysia, with a X% share of total imports. Moreover, alkyd resins imports from Japan exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), twofold. The third position in this ranking was held by Myanmar (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Japan stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and Myanmar (X% per year).

In value terms, Japan ($X), Indonesia ($X) and China ($X) constituted the largest alkyd resins suppliers to Malaysia, with a combined X% share of total imports. Taiwan (Chinese), Myanmar and Thailand lagged somewhat behind, together accounting for a further X%.

Myanmar, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average alkyd resins import price amounted to $X per ton, approximately equating the previous year. In general, the import price saw a deep downturn. The most prominent rate of growth was recorded in 2018 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform