Urea and thiourea resins market in Finland

Earlier Report Observations

The market for urea and thiourea resins in Finland underwent a substantial contraction in physical volume from 2018 to 2024. Starting at 23 400 t, the market size fell to 6 734 t by 2024, a decline of over 70%. The most pronounced drop occurred after 2021, with volume halving in 2022 and continuing downward through 2023, before a slight stabilization in 2024. Domestic production, the primary source of supply, mirrored this collapse, falling from 22 884 t to 5 956 t over the period.

In value terms, the market showed a different pattern, notably in 2021 when it reached $15.4 million despite stable volume, suggesting a significant but temporary increase in unit prices or a shift in product mix. This peak was short-lived, as the market value followed the volume downward thereafter, settling at $5.9 million in 2024. Imports remained a minor component throughout and did not offset the loss in domestic output.

Production urea and thiourea resins in Finland

In value, 2017-2020, K $ US

In 2020, Finland's production of urea and thiourea resins was valued at 10 036 thousand US dollars, showing a modest increase of 2.1% compared to the previous year. Looking at the period from 2017 to 2020, overall production declined by 2.4%, which translates to an average annual decrease of 0.8%. The lowest production value was recorded in 2019 at 9 829 thousand US dollars, while the highest was in 2018 at 10 518 thousand US dollars. The most significant drop occurred in 2019 with a 6.6% decrease, whereas the largest rise was in 2018 with a 2.3% increase.

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

In kind, 2017-2020, t

Finland's production of urea and thiourea resins in physical terms has been declining for three consecutive years. In 2020, the country produced 18 170 tonnes, marking a substantial decrease of 19.3% compared to the previous year. Over the 2017-2020 period, production fell by 26.2%, with a compound annual growth rate of -9.6%.

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

Exports urea and thiourea resins from Finland

According to market analysis, Finland did not export any urea and thiourea resins from 2017 to 2020.

Imports urea and thiourea resins to Finland

Imports in kind, t

The import market for urea and thiourea resins in Finland showed an unstable pattern during the analyzed period. Imports reached their lowest point in 2019 at 2.6 tonnes, then surged to a peak of 673.3 tonnes in 2020, representing a 261-fold increase and a year-over-year rise of 25,993.4%. The most significant decline was recorded in 2019 with a 99.5% drop.

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

From 2017 to 2020, Germany and Norway were the dominant suppliers of urea and thiourea resins to Finland in physical terms, together accounting for 81.2% of total imports. Other countries contributed much smaller shares to the import flows.

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

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

Imports in value, K $ US

Finland's imports of urea and thiourea resins in value terms declined for the second year in a row. In 2020, imports stood at 1 860 thousand US dollars, down 5.7% from 2019. Over the 2017-2020 period, imports decreased by 7.2%, equivalent to an average annual decline of 2.5%. The highest import value was recorded in 2018 at 2 048 thousand US dollars, with the largest increase that year at 2.1%.

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

Throughout 2017-2020, Germany and Norway continued to be the main suppliers of urea and thiourea resins to Finland in value terms, holding a combined share of 88.5% of total imports. The remaining portion came from other countries.

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

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