Asia-Pacific: Phenols Market 2024

Phenols Market Size in Asia-Pacific

The Asia-Pacific phenols market amounted to $X in 2022, approximately equating the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Phenols Production in Asia-Pacific

In value terms, phenols production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Phenols Exports

Exports in Asia-Pacific

In 2022, shipments abroad of phenols decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by X%. As a result, the exports reached the peak of X tons, and then dropped markedly in the following year.

In value terms, phenols exports shrank markedly to $X in 2022. Total exports indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X, and then reduced rapidly in the following year.

Exports by Country

In 2022, South Korea (X tons), Taiwan (Chinese) (X tons), Thailand (X tons), Singapore (X tons), Japan (X tons) and China (X tons) was the major exporter of phenols in Asia-Pacific, committing X% of total export. India (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by South Korea (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest phenols supplying countries in Asia-Pacific were South Korea ($X), China ($X) and Taiwan (Chinese) ($X), with a combined X% share of total exports.

South Korea, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the export price increased by X%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was India ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (X%), while the other leaders experienced more modest paces of growth.

Phenols Imports

Imports in Asia-Pacific

In 2022, after two years of growth, there was significant decline in supplies from abroad of phenols, when their volume decreased by X% to X tons. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports attained the peak of X tons, and then contracted markedly in the following year.

In value terms, phenols imports contracted to $X in 2022. Total imports indicated mild growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, imports reached the peak of $X, and then shrank in the following year.

Imports by Country

China represented the key importer of phenols in Asia-Pacific, with the volume of imports resulting at X tons, which was near X% of total imports in 2022. India (X tons) held the second position in the ranking, followed by South Korea (X tons), Taiwan (Chinese) (X tons) and Japan (X tons). All these countries together held near X% share of total imports. Thailand (X tons) followed a long way behind the leaders.

Imports into China decreased at an average annual rate of X% from 2012 to 2022. At the same time, Taiwan (Chinese) (X%), India (X%) and Japan (X%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2022. South Korea experienced a relatively flat trend pattern. By contrast, Thailand (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India, Taiwan (Chinese) and Japan increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported phenols in Asia-Pacific, comprising X% of total imports. The second position in the ranking was taken by India ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual growth rate of value in China totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: India (X% per year) and South Korea (X% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, rising by X% against the previous year. Import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, phenols import price increased by X% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in South Korea ($X per ton) and Taiwan (Chinese) ($X per ton), while Thailand ($X per ton) and India ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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