Asia-Pacific: Market for Urea Resins And Thiourea Resins In Primary Forms 2024

Market Size for Urea Resins And Thiourea Resins In Primary Forms in Asia-Pacific

The Asia-Pacific urea and thiourea resins market contracted modestly to $X in 2022, leveling off at the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Production of Urea Resins And Thiourea Resins In Primary Forms in Asia-Pacific

In value terms, urea and thiourea resins production contracted slightly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Exports of Urea Resins And Thiourea Resins In Primary Forms

Exports in Asia-Pacific

For the third year in a row, Asia-Pacific recorded growth in overseas shipments of urea resins and thiourea resins in primary forms, which increased by X% to X tons in 2022. Total exports indicated a measured increase 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 increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, urea and thiourea resins exports rose remarkably to $X in 2022. Total exports indicated a pronounced expansion 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, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of X%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

Malaysia (X tons) and China (X tons) dominates exports structure, together generating X% of total exports. India (X tons) ranks next in terms of the total exports with a X% share, followed by Indonesia (X%). The following exporters - Taiwan (Chinese) (X tons) and Thailand (X tons) - each resulted at a X% share of total exports.

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

In value terms, China ($X), Malaysia ($X) and Indonesia ($X) constituted the countries with the highest levels of exports in 2022, with a combined X% share of total exports. Thailand, Taiwan (Chinese) and India lagged somewhat behind, together accounting for a further X%.

In terms of the main exporting countries, Thailand, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the export price, however, showed a perceptible setback. The level of export 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 amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while India ($X per ton) was amongst the lowest.

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

Imports of Urea Resins And Thiourea Resins In Primary Forms

Imports in Asia-Pacific

In 2022, supplies from abroad of urea resins and thiourea resins in primary forms decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, urea and thiourea resins imports reached $X in 2022. Total imports indicated a slight 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, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Thailand (X tons) was the largest importer of urea resins and thiourea resins in primary forms, mixing up X% of total imports. Bangladesh (X tons) ranks second in terms of the total imports with a X% share, followed by Indonesia (X%), Vietnam (X%), the Philippines (X%), China (X%) and Nepal (X%). Brunei Darussalam (X tons), Australia (X tons), Malaysia (X tons), India (X tons), Sri Lanka (X tons) and Cambodia (X tons) followed a long way behind the leaders.

Imports into Thailand increased at an average annual rate of X% from 2012 to 2022. At the same time, Brunei Darussalam (X%), the Philippines (X%), Australia (X%), Vietnam (X%), Nepal (X%), India (X%), Bangladesh (X%) and Cambodia (X%) displayed positive paces of growth. Moreover, Brunei Darussalam emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2022. By contrast, Indonesia (X%), Malaysia (X%), China (X%) and Sri Lanka (X%) illustrated a downward trend over the same period. While the share of the Philippines (X p.p.), Vietnam (X p.p.), Nepal (X p.p.), Brunei Darussalam (X p.p.), Bangladesh (X p.p.) and Australia (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Malaysia (X p.p.), Indonesia (X p.p.), Sri Lanka (X p.p.) and China (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X), Indonesia ($X) and China ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports. The Philippines, Vietnam, Malaysia, Bangladesh, India, Australia, Brunei Darussalam, Cambodia, Nepal and Sri Lanka lagged somewhat behind, together comprising a further X%.

Brunei Darussalam, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, rising by X% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform