Asia: Phenols Market 2024

Phenols Market Size in Asia

The Asian phenols market totaled $X in 2022, approximately reflecting the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in years to come.

Phenols Production in Asia

In value terms, phenols production amounted to $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 relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Phenols Exports

Exports in Asia

In 2022, shipments abroad of phenols decreased by X% to X tons for the first time since 2015, thus ending a six-year rising trend. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons, and then fell dramatically in the following year.

In value terms, phenols exports declined notably to $X in 2022. Total exports indicated a slight 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 reached the peak of $X, and then declined markedly in the following year.

Exports by Country

South Korea (X tons), Taiwan (Chinese) (X tons), Thailand (X tons), Singapore (X tons), Japan (X tons) and China (X tons) represented roughly X% of total exports in 2022. India (X tons) held a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest phenols supplying countries in Asia 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%, recorded the highest growth rate of 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

In 2022, the export price in Asia amounted to $X per ton, rising by X% against the previous year. Export price indicated mild 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 export price increased by X% against 2020 indices. As a result, the export price attained the peak level and is likely to continue 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

In 2022, after two years of growth, there was significant decline in overseas purchases of phenols, when their volume decreased by X% to X tons. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of X tons, and then reduced notably in the following year.

In value terms, phenols imports fell to $X in 2022. Total imports indicated slight 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 most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then reduced in the following year.

Imports by Country

China was the major importer of phenols in Asia, with the volume of imports resulting at X tons, which was approx. X% of total imports in 2022. India (X tons) ranks second in terms of the total imports with a X% share, followed by South Korea (X%), Taiwan (Chinese) (X%) and Japan (X%). Thailand (X tons) and Turkey (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to phenols imports into China stood at X%. At the same time, Turkey (X%), Taiwan (Chinese) (X%), India (X%) and Japan (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing importer imported in Asia, 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. While the share of India (X p.p.), Taiwan (Chinese) (X p.p.), Turkey (X p.p.) and Japan (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of China (X p.p.) and Thailand (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In China, phenols imports expanded at an average annual rate of X% over the period from 2012-2022. 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 stood at $X per ton in 2022, growing by X% against the previous year. Import price indicated a pronounced increase 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 reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per ton), while Turkey ($X per ton) was 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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