Australia and Oceania: Phenolic Resins Market 2024

Phenolic Resins Market Size in Australia and Oceania

The phenolic resins market in Australia and Oceania skyrocketed to $X in 2021, jumping by 21% against the previous year. Overall, consumption showed a prominent expansion. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Phenolic Resins Production in Australia and Oceania

In value terms, phenolic resins production surged to $X in 2021 estimated in export price. Over the period under review, production posted a strong expansion. The most prominent rate of growth was recorded in 2014 with an increase of 67%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Phenolic Resins Exports

Exports in Australia and Oceania

After three years of decline, shipments abroad of phenolic resins in primary forms increased by 1,226% to X tons in 2021. Overall, exports enjoyed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, phenolic resins exports soared to $X in 2021. In general, exports enjoyed a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

New Zealand dominates exports structure, recording X tons, which was near 98% of total exports in 2021. Australia (X tons) held a minor share of total exports.

New Zealand was also the fastest-growing in terms of the phenolic resins in primary forms exports, with a CAGR of +25.2% from 2012 to 2021. Australia (-13.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of New Zealand increased by +31 percentage points.

In value terms, New Zealand ($X) emerged as the largest phenolic resins supplier in Australia and Oceania, comprising 93% of total exports. The second position in the ranking was held by Australia ($X), with a 6.8% share of total exports.

In New Zealand, phenolic resins exports expanded at an average annual rate of +25.0% over the period from 2012-2021.

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2021, which is down by -40.7% against the previous year. Overall, the export price recorded a perceptible reduction. The pace of growth was the most pronounced in 2019 when the export price increased by 91% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Australia ($X per ton), while New Zealand amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+7.9%).

Phenolic Resins Imports

Imports in Australia and Oceania

In 2021, supplies from abroad of phenolic resins in primary forms increased by 26% to X tons for the first time since 2017, thus ending a three-year declining trend. Total imports indicated tangible growth from 2012 to 2021: its volume increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when imports increased by 58% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, phenolic resins imports surged to $X in 2021. Total imports indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when imports increased by 51% against the previous year. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Australia dominates imports structure, finishing at X tons, which was near 93% of total imports in 2021. It was distantly followed by New Zealand (X tons), achieving a 4.8% share of total imports. Fiji (X tons) followed a long way behind the leaders.

Australia was also the fastest-growing in terms of the phenolic resins in primary forms imports, with a CAGR of +3.5% from 2012 to 2021. New Zealand (-1.7%) and Fiji (-3.6%) illustrated a downward trend over the same period. Australia (+4.8 p.p.) significantly strengthened its position in terms of the total imports, while Fiji and New Zealand saw its share reduced by -1.8% and -2.5% from 2012 to 2021, respectively.

In value terms, Australia ($X) constitutes the largest market for imported phenolic resins in primary forms in Australia and Oceania, comprising 91% of total imports. The second position in the ranking was held by New Zealand ($X), with a 5.4% share of total imports.

From 2012 to 2021, the average annual growth rate of value in Australia stood at +3.1%. The remaining importing countries recorded the following average annual rates of imports growth: New Zealand (-6.0% per year) and Fiji (+4.2% per year).

Import Prices by Country

In 2021, the import price in Australia and Oceania amounted to $X per ton, picking up by 10% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 12% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Fiji ($X per ton), while Australia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Fiji (+8.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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