Unsaturated polyesters in primary forms market in Greece

Earlier Report Observations

The Greek market for unsaturated polyesters in primary forms showed a marked increase in volume during 2021, reaching 6 855 t, after remaining around 4 900 t in the preceding years. This surge was followed by a contraction to 5 775 t in 2022. In value terms, the market declined from $13.7 million in 2018 to $12.6 million in 2020, then recovered strongly to $17.4 million by 2022.

Domestic production expanded substantially over the period, rising from 120 t in 2018 to 2 814 t in 2022. Import volumes fluctuated, peaking in 2021, while exports grew steadily, reflecting changing supply dynamics within the market.

Production unsaturated polyesters in primary forms in Greece

In value, 2017-2020, K $ US

In 2020, the output of unsaturated polyesters in primary forms in Greece was valued at 2 045 thousand US dollars, showing minimal change compared to 2019. Over the period from 2018 to 2020, production increased by 374%, which translates to an annualized growth rate of 68.0%.

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

In kind, 2017-2020, t

In 2020, Greece produced 1 039 tonnes of unsaturated polyesters in primary forms, remaining broadly stable year-over-year. From 2018 to 2020, production surged by 767.6%, with a compound annual growth rate of 105.5%.

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

Exports unsaturated polyesters in primary forms from Greece

Exports in kind, t

Cross-border shipments of unsaturated polyesters in primary forms from Greece increased for the third consecutive year. In 2020, Greece exported 489 tonnes, marking a sharp increase of 36.3% compared to the previous year. Over the period from 2017 to 2020, exports grew by 195.9%, with a compound annual growth rate of 43.6%.

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

From 2017 to 2020, the largest buyers of unsaturated polyesters in primary forms from Greece were Cyprus, accounting for 45.7% of exports in kind, Morocco with 25.2%, and Bulgaria at 10.5%. Together, these three countries formed 81.4% of total exports in kind.

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

Shipments of unsaturated polyesters in primary forms from Greece to abroad increased for the third consecutive year. In 2020, exports amounted to 1 500 thousand US dollars, up by 5.7% year-over-year. Over the period from 2017 to 2020, exports rose by 70.9%, with a compound annual growth rate of 19.6%.

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

From 2017 to 2020, Cyprus led the ranking of buyers in value terms with 58.7% of exports, followed by Bulgaria at 15.4% and Morocco with 10.4%. Their combined share reached 84.6% of total exports in value terms.

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

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

Imports unsaturated polyesters in primary forms to Greece

Imports in kind, t

After a two-year rise, Greece's volume of unsaturated polyesters in primary forms imports declined. In 2020, import volume stood at 4 375 tonnes, which is 13.5% lower compared to 2019. The maximum value was recorded in 2019 at 5 058 tonnes, with the largest increase of 3.0% also occurring that year. Between 2017 and 2020, imports decreased by 10.7%, equating to an annualized decline rate of 3.7%.

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

Throughout 2017 to 2020, Italy was the key direction for imports in kind with 36.0%, followed by Germany at 28.8% and Turkey with 9.9%. Together, these three countries accounted for 74.7% 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

Unsaturated polyesters in primary forms volumes in Greece declined for the second consecutive year. In 2020, imports totalled 12 098 thousand US dollars, reflecting a substantial reduction of 11.2% from a year earlier. The maximum value was recorded in 2018 at 14 232 thousand US dollars, with the largest increase of 9.2% also in that year. Over the period from 2017 to 2020, imports decreased by 7.2%, with a compound annual decline rate of 2.5%.

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

Throughout 2017 to 2020, Italy remained the key direction for imports in value terms with 38.9%, followed by Germany at 23.6% and France with 8.9%. Together, these three countries accounted for 71.4% of total import flows.

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

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