Epoxy resins in primary forms market in Greece

Earlier Report Observations

The market volume for epoxy resins in primary forms in Greece experienced a significant contraction from 2018 to 2022, falling from over 5 000 tonnes to a low of 2 570 tonnes. This represented a decline of more than half over four years. Following this period, the market entered a recovery phase, growing to 3 428 tonnes in 2023 and further to 3 964 tonnes in 2024, though it remained below its initial level.

Domestic production mirrored this trend, decreasing to 135 tonnes in 2020 before a strong expansion began. Output more than doubled from 2021 onwards, reaching 338 tonnes in 2024. Imports, which constitute the bulk of supply, declined from nearly 5 000 tonnes in 2018 to 2 676 tonnes in 2022, then rebounded to 3 901 tonnes by 2024. Export volumes, while comparatively smaller, showed variability, peaking at 348 tonnes in 2022.

In value terms, the market showed a different pattern, dropping to USD 11.99 million in 2020 before recovering to USD 15.43 million in 2024. This suggests changes in product mix or pricing occurred alongside the shifts in physical volume over the observed period.

Production epoxy resins in primary forms in Greece

In value, 2017-2020, K $ US

Greece's production of epoxy resins in primary forms declined for the second consecutive year. In 2020, output was valued at 645.5 K $ US, marking a significant drop of 15.9% from the previous year. Between 2017 and 2020, production decreased by 12.7%, which translates to an annualized decline of 4.4%. The highest value was recorded in 2018 at 990.8 K $ US, with the largest increase that year of 34.0%. The most substantial decline occurred in 2019, falling by 22.6%.

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

In kind, 2017-2020, t

Production of epoxy resins in primary forms in Greece declined for the second year in a row. In 2020, Greece produced 134.7 t, down 12.7% compared to the previous year. Over the 2017-2020 period, production decreased by 9.2%, with a compound annual growth rate of -3.2%. The peak was in 2018 at 174.4 t, which also saw the largest increase of 17.6%.

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

Exports epoxy resins in primary forms from Greece

Exports in kind, t

Exports of epoxy resins in primary forms from Greece increased for the third consecutive year. In 2020, exports reached 246 t, rising 117.0% year-over-year. From 2017 to 2020, exports grew by 204.1%, with a compound annual growth rate of 44.9%.

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

From 2017 to 2020, Cyprus, Bulgaria, and Albania were the key partners for Greece's exports of epoxy resins in primary forms in kind. Cyprus accounted for 41.7% of exports, Bulgaria for 7.5%, and Albania for 5.3%. Together, they represented 54.5% of total export flows.

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

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

Exports in value, K $ US

The market exhibited volatility during the observed period. The lowest export value was in 2017, while the highest was in 2020, with a peak-to-trough ratio of 2.9 times. In 2020, Greece exported 1 059 K $ US of epoxy resins in primary forms, reflecting a sharp increase of 104.3% from the previous year. The largest decline occurred in 2019, dropping by 2.3%.

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

From 2017 to 2020, Cyprus, Bulgaria, and Romania were among the largest buyers of epoxy resins in primary forms from Greece in value terms. Cyprus accounted for 30.1% of exports, Bulgaria for 7.2%, and Romania for 6.1%. However, even combined, they represented only 43.5% of total export value, indicating a broadly diversified partner base.

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

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

Imports epoxy resins in primary forms to Greece

Imports in kind, t

Imports of epoxy resins in primary forms into Greece declined for the second consecutive year. In 2020, Greece imported 4 998 t, down 5.7% from the previous year. Between 2017 and 2020, imports increased by 4.7%, equating to an annualized growth rate of 1.5%. The highest volume was recorded in 2018 at 4 998 t, which also saw the largest increase of 55.4%. The most significant decline occurred in 2019, falling by 28.5%.

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

Over the 2017-2020 period, France, Italy, and Germany were the leading sources for Greece's imports of epoxy resins in primary forms in kind. France accounted for 30.9% of imports, Italy for 20.5%, and Germany for 14.1%. Together, they made up 65.5% of total import flows.

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

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

Imports in value, K $ US

Import volumes of epoxy resins in primary forms into Greece declined for the second year in a row. In 2020, imports reached 12 408 K $ US, corresponding to an 8.1% decrease from the previous year. Between 2017 and 2020, imports increased by 3.7%, with an annualized growth rate of 1.2%. The peak value was in 2018 at 19 013 K $ US, which also experienced the largest increase of 59.0%. The most substantial decline was in 2019, dropping by 29.0%.

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

From 2017 to 2020, France, Italy, and Germany continued to be the main suppliers of epoxy resins in primary forms to Greece in value terms. France accounted for 30.4% of imports, Italy for 25.0%, and Germany for 13.4%. Collectively, they formed 68.8% of total import value.

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

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