Australia: Phenolic Resins Market 2024

Phenolic Resins Market Size in Australia

After three years of decline, the Australian phenolic resins market increased by 37% to $X in 2021. Overall, the total consumption indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Phenolic Resins Exports

Exports from Australia

For the third year in a row, Australia recorded decline in shipments abroad of phenolic resins in primary forms, which decreased by -57.3% to X tons in 2021. Over the period under review, exports showed a abrupt setback. The most prominent rate of growth was recorded in 2016 with an increase of 58% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, phenolic resins exports reduced dramatically to $X in 2021. Overall, exports saw a abrupt setback. The pace of growth appeared the most rapid in 2016 with an increase of 78% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Indonesia (X tons) was the main destination for phenolic resins exports from Australia, with a 53% share of total exports. Moreover, phenolic resins exports to Indonesia exceeded the volume sent to the second major destination, New Zealand (X tons), fourfold. The United States (X tons) ranked third in terms of total exports with a 9.8% share.

From 2012 to 2021, the average annual growth rate of volume to Indonesia stood at +36.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (-27.4% per year) and the United States (-12.6% per year).

In value terms, Indonesia ($X) emerged as the key foreign market for phenolic resins in primary forms exports from Australia, comprising 56% of total exports. The second position in the ranking was taken by the United States ($X), with a 15% share of total exports. It was followed by New Zealand, with a 14% share.

From 2012 to 2021, the average annual growth rate of value to Indonesia amounted to +46.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+3.7% per year) and New Zealand (-18.3% per year).

Export Prices by Country

In 2021, the average phenolic resins export price amounted to $X per ton, rising by 64% against the previous year. Overall, export price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +7.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was New Caledonia ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+18.6%), while the prices for the other major destinations experienced more modest paces of growth.

Phenolic Resins Imports

Imports into Australia

In 2021, after three years of decline, there was significant growth in overseas purchases of phenolic resins in primary forms, when their volume increased by 25% to X tons. In general, total imports indicated a temperate expansion from 2012 to 2021: its volume increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 71% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, phenolic resins imports soared to $X in 2021. Over the period under review, total imports indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 63%. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

The UK (X tons), Singapore (X tons) and France (X tons) were the main suppliers of phenolic resins imports to Australia, with a combined 59% share of total imports. India, New Zealand, China and Poland lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +82.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest phenolic resins suppliers to Australia were the UK ($X), France ($X) and New Zealand ($X), together accounting for 53% of total imports. These countries were followed by Singapore, China, India and Poland, which together accounted for a further 26%.

India, with a CAGR of +78.8%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average phenolic resins import price amounted to $X per ton, surging by 13% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 13% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by New Zealand (+5.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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