China Significantly Expands Epoxy Resin Imports
IndexBox has just published a new report: ‘China – Epoxide Resins In Primary Forms – Market Analysis, Forecast, Size, Trends And Insights’. Here is a summary of the report’s key findings.
In 2020, imports of epoxide resins in primary forms into China jumped by +40% y-o-y to 405K tonnes, reaching $1.3B in value terms. Taiwan, South Korea, and the U.S. remain the key epoxy resin suppliers to China, with a combined 76%-share of the total imports. Thailand, the Netherlands, South Korea, the U.S., Taiwan, and Germany saw the highest spikes in exports to China. The average epoxy resin import price in China dropped by -10% y-o-y last year.
Epoxide Resin Imports into China
In 2020, imports of epoxide resins in primary forms into China soared to 405K tonnes, picking up by +40% on the previous year’s figure. In value terms, epoxide resin imports surged by +26.1% y-o-y to $1.3B (IndexBox estimates) in 2020.
Taiwan (Chinese) (147K tonnes), South Korea (116K tonnes) and the U.S. (44K tonnes) were the main suppliers of epoxide resins to China, with a combined 76% share of total Chinese imports. These countries were followed by Germany, Thailand, Japan and the Netherlands, which together accounted for a further 19%.
In 2020, the most notable growth rate in terms of purchases, amongst the main suppliers, was attained by Thailand (+131% y-o-y), the Netherlands (+77% y-o-y), South Korea (+63% y-o-y), the U.S. (+41% y-o-y),Taiwan (+33% y-o-y) and Germany (+24% y-o-y). Imports from Japan reduced by -4% y-o-y during this period.
In value terms, Taiwan (Chinese) ($418M), South Korea ($283M) and the U.S. ($135M) appeared to be the largest epoxide resin suppliers to China, together comprising 67% of total imports. Japan, Germany, Thailand and the Netherlands lagged somewhat behind, together comprising a further 27%.
In 2020, the average epoxy resin import price amounted to $3,100 per tonne, waning by -10% against the previous year. Prices varied noticeably by the country of origin; the country with the highest price was Japan ($8,473 per tonne), while the price for the Netherlands ($2,353 per tonne) was amongst the lowest. In 2020, the most notable rate of growth in terms of prices was attained by Japan, while the prices for the other major suppliers experienced more modest pace of growth.
Source: IndexBox Platform