Saudi Arabia"s petrochemicals sector remains a pivotal part of its economy, with resin being a significant component. In 2023, the trade dynamics of epoxide resins showed notable shifts. Imports of epoxide resins were recorded at approximately 11. 23 million kg with a total value of $59. 61 million, reflecting a decrease from 13. 91 million kg in 2022 with a higher value of $73. 14 million. This suggests a reduction in both volume and price per kilogram.

On the export front, Saudi Arabia shipped 6. 49 million kg of epoxide resins valued at $42. 73 million in 2023, down from 14. 27 million kg worth $61. 40 million in 2022. This contraction in export volume and value indicates competitive pressures or a strategic market shift. Additionally, domestic exports followed a similar downward trend with 6. 33 million kg compared to 14.

12 million kg in 2022, suggesting changes in domestic consumption or production capabilities. Re-exports remained minimal, with 156,070 kg recorded in 2023, a slight increase in volume compared to 150,334 kg in 2022, albeit with a significant drop in value from $8. 08 million to just over $1 million. This stark contrast highlights a potential shift towards more localized processing or changes in re-exporting strategies. The overall decrease in trade volumes and values across imports and exports in 2023 suggests a market under transformation, possibly due to evolving domestic policies or global economic conditions impacting supply chains. For businesses and suppliers in the petrochemicals sector, this environment presents both challenges and opportunities to optimize their strategic operations. Aritral, an AI-powered B2B platform, offers effective solutions for navigating such market dynamics. By providing tools for Product Listing, Direct Communication, and Global Sales Assistance, Aritral facilitates seamless international trade, helping businesses adapt to the ever-evolving resin market landscape. "