Amino-resins, phenolic resins and PU market in Russia

Earlier Report Observations

Between 2018 and 2021, the Russian market for amino-resins, phenolic resins and polyurethanes expanded from 1 809 thousand tons to 2 091 thousand tons. This growth was supported by the entry of new players like the Attika plant in the Leningrad region, which started production of acrylic, polyester and alkyd resins with a capacity of 10 thousand tons per year. Additionally, rising consumption of phenolic and melamine adhesives for plywood manufacturing stimulated demand for water-resistant synthetic resins. However, the market remained heavily reliant on imported epoxy resins, with import shares around 95-96%, constraining domestic producers.

In 2022, market volume contracted sharply to 1 627 thousand tons. This decline was driven by sanctions and restrictions on import and export operations, which reduced supply and caused a downturn in key consuming industries. Sales of epoxy resins fell by 8.6% to 47.9 thousand tons. Concurrently, domestic production of water-resistant adhesives for the forestry sector continued to grow, supported by increased output of FSF grade plywood, partially offsetting the overall market drop.

After the 2022 contraction, the market recovered to 1 797 thousand tons in 2023 and reached 1 842 thousand tons in 2024. Production volumes also rebounded, standing at 1 774 thousand tons in 2024, though they decreased to 1 597 thousand tons in 2025.

Production amino-resins, phenolic resins and PU in Russia

In kind, 2018-2021, K t

Following two years of decline, production of amino-resins, phenolic resins, and polyurethanes in Russia has rebounded. In 2021, output reached 1 986 thousand tonnes, marking a 14.1% increase compared to the previous year. Over the 2018-2021 period, production grew by 10%, with a compound annual growth rate of 3.2%. The lowest production level was recorded in 2020 at 1 741 thousand tonnes, which also saw the largest decline of 2.7%.

Annual dynamics of production in Russia in kind, 2018-2021, K t

Exports amino-resins, phenolic resins and PU from Russia

Exports in kind, K t

After two consecutive years of decrease, export volumes of amino-resins, phenolic resins, and polyurethanes from Russia have turned upward. In 2021, exports amounted to 187.7 thousand tonnes, representing a 10.2% year-over-year increase. However, between 2018 and 2021, overall exports declined by 16.9%, equivalent to an annualized rate of 6.0%. The lowest export volume was recorded in 2020 at 170.3 thousand tonnes, which also experienced the most significant drop of 19.7%.

Annual dynamics of product's exports from Russia in kind, 2018-2021, K t

From 2018 to 2021, Belarus accounted for 71.7% of Russia's total physical exports of amino-resins, phenolic resins, and polyurethanes, with the remaining share distributed among numerous smaller markets.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Russia in kind, 2018-2021

Exports in value, M $ US

Following a two-year downturn, the value of amino-resins, phenolic resins, and polyurethane exports from Russia has increased. In 2021, exports reached 138.8 million US dollars, reflecting a substantial 68.8% year-over-year gain. Over the 2018-2021 period, export value grew by 11.2%, translating to an annualized rate of 3.6%. The lowest value was recorded in 2020 at 82.2 million US dollars, which also saw the largest decline of 27.9%.

Annual dynamics of product's exports from Russia in value, 2018-2021, M $ US

Between 2018 and 2021, three key markets—Belarus, Kazakhstan, and Uzbekistan—collectively absorbed 81.4% of Russia's total export value for amino-resins, phenolic resins, and polyurethanes.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Russia in value, 2018-2021

Imports amino-resins, phenolic resins and PU to Russia

Imports in kind, K t

Russia's imports of amino-resins, phenolic resins, and polyurethanes have increased for the third consecutive year. In 2021, imports reached 296.9 thousand tonnes, showing a robust 17.5% rise compared to 2020. Over the 2018-2021 period, import volumes grew by 30%, with a compound annual growth rate of 9.1%.

Annual dynamics of product's imports to Russia in kind, 2018-2021, K t

During 2018-2021, physical imports of amino-resins, phenolic resins, and polyurethanes to Russia were relatively evenly distributed. The Netherlands (16.1% of imports), China (16.0%), and Germany (15.6%) together accounted for 47.7% of total import flows.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Russia in kind, 2018-2021

Imports in value, M $ US

The market displayed volatility throughout the observed period. The lowest import value was recorded in 2020 at 435.5 million US dollars, while the highest was observed in 2021 at 746.0 million US dollars, reflecting a 1.7-fold difference. In 2021, imports showed an intense rise of 71.3% compared to 2020. The largest decline occurred in 2019, with an 18.5% drop.

Annual dynamics of product's imports to Russia in value, 2018-2021, M $ US

Throughout 2018-2021, three major markets—Germany, China, and the Netherlands—remained central to Russia's import value for amino-resins, phenolic resins, and polyurethanes, together accounting for 50.3% of total flows.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Russia in value, 2018-2021