Epoxy resins in primary forms market in Belgium

Earlier Report Observations

The market for epoxy resins in primary forms in Belgium showed considerable movement from 2018 to 2024. It began at $27.8 million in 2018, dipped to $22.9 million the following year, then recovered sharply to $32.4 million in 2020 and jumped to a high of $52.1 million in 2021.

After the 2021 peak, the market size contracted over the next three years, falling to $49.2 million in 2022, $35.2 million in 2023, and $30.1 million in 2024. The decline in 2024 coincided with two major developments: the European Union's impending ban on bisphenol A in food contact materials, which reduced demand from packaging segments, and the initiation of an anti-dumping investigation on Asian imports, which tightened supply conditions and affected trade flows.

Production epoxy resins in primary forms in Belgium

In value, 2017-2020, K $ US

Belgium's production of epoxy resins in primary forms rebounded in 2020 after two years of contraction. Output was valued at 30 811 thousand US dollars, marking a robust 15.0% increase compared to 2019. Over the 2017-2020 period, production declined by 5.6%, with an annualized growth rate of 1.9%. The lowest value was recorded in 2019 at 26 791 thousand US dollars, while the largest decline occurred in 2018 at 12.4%.

Annual dynamics of production in Belgium in value, 2017-2020, K $ US

In kind, 2017-2020, t

In 2020, Belgium produced 6 618 tonnes of epoxy resins in primary forms, representing a 7.4% decrease from the previous year. Between 2017 and 2020, production fell by 9.2%, equating to an annualized decline of 3.2%. The largest drop was recorded in 2018 at 8.1%, while the biggest increase occurred in 2019 at 6.7%.

Annual dynamics of production in Belgium in kind, 2017-2020, t

Exports epoxy resins in primary forms from Belgium

Exports in kind, t

Belgium exported 12 304 tonnes of epoxy resins in primary forms in 2020, a sharp decline of 41.2% compared to 2019. Over the 2017-2020 period, exports decreased by 29.9%, with an annualized rate of 11.2%. The highest volume was recorded in 2019 at 20 924 tonnes, which also saw the largest increase of 31.9%.

Annual dynamics of product's exports from Belgium in kind, 2017-2020, t

Analysis of export volumes from 2017 to 2020 reveals a broad distribution across multiple markets. Germany accounted for 21.4% of exports, the Netherlands for 16.4%, and France for 7.7%. Together, these three countries represented 45.5% of total flows, while the remaining 54.5% was distributed among various other partners.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Belgium in kind, 2017-2020

Exports in value, K $ US

Belgium's exports of epoxy resins in primary forms declined for the second consecutive year in 2020. Export value totaled 48 934 thousand US dollars, a 27.3% decrease from the previous year. Between 2017 and 2020, exports fell by 28.8%, equating to an annualized decline of 10.7%. The peak value was recorded in 2018 at 72 192 thousand US dollars, which also saw the largest increase of 5.0%.

Annual dynamics of product's exports from Belgium in value, 2017-2020, K $ US

The structure of export values from 2017 to 2020 indicates a diversified set of trading partners. Germany accounted for 21.3% of export value, the Netherlands for 16.0%, and France for 10.4%. Collectively, these three markets represented 47.7% of total flows, while the remaining 52.3% was spread across numerous smaller markets.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Belgium in value, 2017-2020

Imports epoxy resins in primary forms to Belgium

Imports in kind, t

Belgium's imports of epoxy resins in primary forms declined for the second consecutive year in 2020. Import volume totaled 15 300 tonnes, a 15.3% decrease compared to 2019. Over the 2017-2020 period, imports fell by 33.1%, equating to an annualized decline of 12.5%. The highest volume was recorded in 2018 at 20 560 tonnes. The largest decrease occurred in 2019 at 23.4%, while the biggest increase was in 2018 at 3.1%.

Annual dynamics of product's imports to Belgium in kind, 2017-2020, t

From 2017 to 2020, the Netherlands, Germany, and Czechia formed the main group of sources for Belgium's imports of epoxy resins in primary forms. The Netherlands accounted for 32.8% of import volume, Germany for 29.3%, and Czechia for 7.0%. Together, these three countries represented 69.1% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Belgium in kind, 2017-2020

Imports in value, K $ US

Belgium's imports of epoxy resins in primary forms declined for the second consecutive year in 2020. Import value totaled 50 483 thousand US dollars, a significant 20.5% decrease year-over-year. Over the 2017-2020 period, imports fell by 29.1%, with an annualized decline of 10.8%. The peak value was recorded in 2018 at 71 413 thousand US dollars, which also saw the largest increase of 0.3%.

Annual dynamics of product's imports to Belgium in value, 2017-2020, K $ US

Throughout the 2017-2020 period, three key markets dominated Belgium's import values for epoxy resins in primary forms. The Netherlands, Germany, and Italy together accounted for 68.2% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Belgium in value, 2017-2020