Amino Resin Market

The article provides an in-depth analysis of the global market for amino resins, highlighting trends from 2012 to 2022 and forecasts up to 2030. Key points include consumption patterns, production volumes, import and export trends, as well as the top countries involved in the market. The data shows fluctuations in market performance, with notable increases and decreases in consumption, production, and trade. Insights on market values, growth rates, and per capita consumption levels are also discussed, providing a comprehensive overview of the amino resin market.

Market Forecast

Driven by increasing demand for amino resins worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +3.2% for the period from 2022 to 2030, which is projected to bring the market volume to 13M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.3% for the period from 2022 to 2030, which is projected to bring the market value to $32.8B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Amino Resins in Primary Forms (Excluding Urea And Thiourea Resins, Melamine Resins)

After seven years of growth, consumption of amino resins decreased by -2.6% to 10M tons in 2022. In general, the total consumption indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the consumption volume increased by 8.3% against the previous year. Over the period under review, global consumption attained the maximum volume at 10M tons in 2021, and then shrank modestly in the following year.

The global amino resin market size contracted slightly to $21.6B in 2022, declining by -1.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the global market hit record highs at $21.9B in 2021, and then contracted modestly in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (2.1M tons), the United States (1.2M tons) and India (1.1M tons), together accounting for 44% of global consumption. Japan, Turkey, Democratic Republic of the Congo, Saudi Arabia, Iran, Poland, Spain, Canada, South Korea and Vietnam lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the biggest increases were recorded for Democratic Republic of the Congo (with a CAGR of +12.4%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest amino resin markets worldwide were China ($3.2B), the United States ($2.3B) and India ($2.2B), with a combined 35% share of the global market. Democratic Republic of the Congo, Japan, Turkey, Saudi Arabia, Poland, Canada, Iran, South Korea, Spain and Vietnam lagged somewhat behind, together comprising a further 27%.

Poland, with a CAGR of +9.5%, saw the highest rates of growth with regard to market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of amino resin per capita consumption in 2022 were Saudi Arabia (7.2 kg per person), Poland (6.2 kg per person) and Canada (4.9 kg per person).

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of +9.7%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Amino Resins in Primary Forms (Excluding Urea And Thiourea Resins, Melamine Resins)

In 2022, the amount of amino resins produced worldwide dropped modestly to 10M tons, with a decrease of -2.1% on 2021. The total output volume increased at an average annual rate of +2.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2019 with an increase of 11% against the previous year. As a result, production reached the peak volume of 11M tons. From 2020 to 2022, global production growth failed to regain momentum.

In value terms, amino resin production stood at $19.6B in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by 20%. Over the period under review, global production hit record highs at $20.7B in 2018; however, from 2019 to 2022, production failed to regain momentum.

Production By Country

The country with the largest volume of amino resin production was China (2.8M tons), accounting for 27% of total volume. Moreover, amino resin production in China exceeded the figures recorded by the second-largest producer, the United States (1.1M tons), threefold. India (944K tons) ranked third in terms of total production with a 9.1% share.

In China, amino resin production expanded at an average annual rate of +4.8% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: the United States (+0.7% per year) and India (+2.5% per year).

Imports

World Imports of Amino Resins in Primary Forms (Excluding Urea And Thiourea Resins, Melamine Resins)

In 2022, purchases abroad of amino resins decreased by -3.2% to 4.2M tons for the first time since 2019, thus ending a two-year rising trend. Overall, total imports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +7.8% 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 +111.5% against 2012 indices. The pace of growth appeared the most rapid in 2021 with an increase of 22% against the previous year. As a result, imports reached the peak of 4.3M tons, and then contracted modestly in the following year.

In value terms, amino resin imports rose slightly to $10.2B in 2022. Over the period under review, imports, however, enjoyed a prominent expansion. The growth pace was the most rapid in 2021 when imports increased by 82%. Over the period under review, global imports reached the peak figure in 2022 and are expected to retain growth in years to come.

Imports By Country

In 2022, the United States (422K tons), the Netherlands (341K tons), China (291K tons), Belgium (215K tons), Turkey (194K tons), Canada (191K tons), Poland (171K tons), India (163K tons), Germany (153K tons), Italy (152K tons), France (145K tons) and Russia (128K tons) was the main importer of amino resins in the world, making up 61% of total import. The UK (120K tons) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by India (with a CAGR of +29.2%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest amino resin importing markets worldwide were the United States ($1B), the Netherlands ($759M) and China ($572M), with a combined 23% share of global imports.

Among the main importing countries, the United States, with a CAGR of +27.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average amino resin import price amounted to $2,434 per ton, with an increase of 7.7% against the previous year. In general, import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, amino resin import price increased by +61.4% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of 50% against the previous year. Global import price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Poland ($2,819 per ton) and the UK ($2,705 per ton), while China ($1,964 per ton) and the Netherlands ($2,225 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+2.5%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Amino Resins in Primary Forms (Excluding Urea And Thiourea Resins, Melamine Resins)

In 2022, after ten years of growth, there was decline in overseas shipments of amino resins, when their volume decreased by -2% to 4.3M tons. In general, total exports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +5.8% 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 +75.5% against 2012 indices. The most prominent rate of growth was recorded in 2021 with an increase of 18% against the previous year. As a result, the exports reached the peak of 4.4M tons, and then contracted modestly in the following year.

In value terms, amino resin exports expanded to $10.2B in 2022. Over the period under review, exports, however, enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2021 with an increase of 79% against the previous year. The global exports peaked in 2022 and are expected to retain growth in years to come.

Exports By Country

In 2022, China (991K tons), distantly followed by Belgium (615K tons), Germany (526K tons), the Netherlands (435K tons), South Korea (315K tons), the United States (259K tons), Saudi Arabia (256K tons) and Hungary (204K tons) were the largest exporters of amino resins, together mixing up 83% of total exports.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of +16.1%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, China ($2.1B), Belgium ($1.6B) and Germany ($1.3B) were the countries with the highest levels of exports in 2022, with a combined 49% share of global exports.

China, with a CAGR of +17.6%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average amino resin export price amounted to $2,357 per ton, growing by 6.1% against the previous year. In general, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 52% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hungary ($2,744 per ton), while Saudi Arabia ($1,513 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+2.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform