ASEAN: Epoxide Resin Market 2024

Epoxide Resin Market Size in ASEAN

In 2023, after three years of growth, there was significant decline in the ASEAN epoxide resin market, when its value decreased by X% to $X. The total consumption indicated modest growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2022, and then reduced in the following year.

Epoxide Resin Production in ASEAN

In value terms, epoxide resin production rose notably to $X in 2023 estimated in export price. The total production indicated resilient growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, production reached the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

Epoxide Resin Exports

Exports in ASEAN

In 2023, overseas shipments of epoxide resins decreased by X% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports continue to indicate a slight curtailment. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2023, the exports failed to regain momentum.

In value terms, epoxide resin exports reduced sharply to $X in 2023. In general, exports showed a noticeable setback. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2022 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

In 2023, Thailand (X tons) represented the largest exporter of epoxide resins, achieving X% of total exports. It was distantly followed by Singapore (X tons) and Malaysia (X tons), together achieving a X% share of total exports.

Thailand experienced a relatively flat trend pattern with regard to volume of exports of epoxide resins. Malaysia (X%) and Singapore (X%) illustrated a downward trend over the same period. While the share of Thailand (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Singapore (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest epoxide resin supplying countries in ASEAN were Thailand ($X), Singapore ($X) and Malaysia ($X), with a combined X% share of total exports.

Thailand, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2023, the export price in ASEAN amounted to $X per ton, waning by X% against the previous year. Over the period under review, the export price continues to indicate a slight reduction. The growth pace was the most rapid in 2021 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2022 to 2023, the export prices remained at a lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other leaders experienced a decline in the export price figures.

Epoxide Resin Imports

Imports in ASEAN

Epoxide resin imports declined to X tons in 2023, dropping by X% on 2022 figures. Overall, imports saw a pronounced decrease. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2023, imports failed to regain momentum.

In value terms, epoxide resin imports dropped notably to $X in 2023. Over the period under review, imports showed a mild decline. The growth pace was the most rapid in 2021 with an increase of X%. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports failed to regain momentum.

Imports by Country

In 2023, Malaysia (X tons), Thailand (X tons) and Indonesia (X tons) represented the largest importer of epoxide resins in ASEAN, comprising X% of total import. Vietnam (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by the Philippines (X%) and Singapore (X%).

From 2012 to 2023, the biggest increases were recorded for the Philippines (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest epoxide resin importing markets in ASEAN were Thailand ($X), Malaysia ($X) and Indonesia ($X), together accounting for X% of total imports. The Philippines, Vietnam and Singapore lagged somewhat behind, together accounting for a further X%.

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

Import Prices by Country

In 2023, the import price in ASEAN amounted to $X per ton, dropping by X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2022 to 2023, the import prices failed to regain momentum.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform