Benelux: Phenolic Resins Market 2024

Phenolic Resins Market Size in Benelux

In 2021, the Benelux phenolic resins market decreased by -6.6% to $X for the first time since 2017, thus ending a three-year rising trend. The total consumption indicated a moderate expansion from 2012 to 2021: its value 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. Based on 2021 figures, consumption increased by +59.0% against 2017 indices. The level of consumption peaked at $X in 2020, and then fell in the following year.

Phenolic Resins Production in Benelux

In value terms, phenolic resins production dropped to $X in 2021 estimated in export price. The total production indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +45.2% against 2017 indices. The most prominent rate of growth was recorded in 2020 with an increase of 42%. As a result, production reached the peak level of $X, and then reduced in the following year.

Phenolic Resins Exports

Exports in Benelux

In 2021, shipments abroad of phenolic resins in primary forms was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. The total export volume increased at an average annual rate of +2.3% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. 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. The total export value increased at an average annual rate of +3.0% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Belgium was the key exporting country with an export of about X tons, which reached 89% of total exports. It was distantly followed by the Netherlands (X tons), creating an 11% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to phenolic resins exports from Belgium stood at +1.7%. At the same time, the Netherlands (+9.8%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in Benelux, with a CAGR of +9.8% from 2012-2021. While the share of the Netherlands (+5.1 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Belgium (-5 p.p.) displayed negative dynamics.

In value terms, Belgium ($X) remains the largest phenolic resins supplier in Benelux, comprising 85% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 15% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Belgium amounted to +2.0%.

Export Prices by Country

In 2021, the export price in Benelux amounted to $X per ton, increasing by 16% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the export price increased by 16% against the previous year. Over the period under review, the export prices attained the maximum in 2021 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while Belgium amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+2.7%).

Phenolic Resins Imports

Imports in Benelux

In 2021, the amount of phenolic resins in primary forms imported in Benelux skyrocketed to X tons, rising by 24% compared with the previous year's figure. Total imports indicated a perceptible increase from 2012 to 2021: its volume increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 40% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, phenolic resins imports soared to $X in 2021. Total imports indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +2.4% 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 67%. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

Imports by Country

The Netherlands represented the key importing country with an import of about X tons, which reached 72% of total imports. Belgium (X tons) ranks second in terms of the total imports with a 22% share, followed by Luxembourg (6.2%).

The Netherlands was also the fastest-growing in terms of the phenolic resins in primary forms imports, with a CAGR of +9.1% from 2012 to 2021. At the same time, Luxembourg (+6.6%) displayed positive paces of growth. By contrast, Belgium (-6.2%) illustrated a downward trend over the same period. The Netherlands (+28 p.p.) and Luxembourg (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while Belgium saw its share reduced by -29.9% from 2012 to 2021, respectively.

In value terms, the Netherlands ($X) constitutes the largest market for imported phenolic resins in primary forms in Benelux, comprising 64% of total imports. The second position in the ranking was held by Belgium ($X), with a 27% share of total imports.

In the Netherlands, phenolic resins imports expanded at an average annual rate of +6.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Belgium (-3.8% per year) and Luxembourg (+6.0% per year).

Import Prices by Country

In 2021, the import price in Benelux amounted to $X per ton, growing by 13% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the import price increased by 20%. The level of import 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 importing countries. In 2021, amid the top importers, the country with the highest price was Luxembourg ($X per ton), while the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+2.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform