Brazil: Phenolic Resins Market 2024

Phenolic Resins Market Size in Brazil

After two years of growth, the Brazilian phenolic resins market decreased by -10% to $X in 2021. Over the period under review, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Phenolic Resins Production in Brazil

In value terms, phenolic resins production declined to $X in 2021 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 27%. As a result, production reached the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Phenolic Resins Exports

Exports from Brazil

In 2021, phenolic resins exports from Brazil surged to X tons, picking up by 46% on the year before. Overall, total exports indicated a mild expansion from 2012 to 2021: its volume increased at an average annual rate of +1.8% 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 with an increase of 47% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, phenolic resins exports skyrocketed to $X in 2021. In general, exports, however, showed a slight decline. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Argentina (X tons), the United States (X tons) and Paraguay (X tons) were the main destinations of phenolic resins exports from Brazil, together comprising 60% of total exports.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +28.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Argentina ($X), the United States ($X) and Chile ($X) appeared to be the largest markets for phenolic resins exported from Brazil worldwide, with a combined 65% share of total exports.

The United States, with a CAGR of +23.2%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average phenolic resins export price stood at $X per ton in 2021, surging by 12% against the previous year. Over the period under review, the export price, however, recorded a noticeable contraction. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Venezuela ($X per ton), while the average price for exports to Uruguay ($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 Italy (+2.4%), while the prices for the other major destinations experienced a decline.

Phenolic Resins Imports

Imports into Brazil

In 2021, imports of phenolic resins in primary forms into Brazil declined to X tons, falling by -7.1% against 2020. The total import volume increased at an average annual rate of +1.5% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2015 with an increase of 29%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, phenolic resins imports surged to $X in 2021. The total import value increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), the United States (X tons) and Belgium (X tons) were the main suppliers of phenolic resins imports to Brazil, with a combined 77% share of total imports. These countries were followed by South Korea and Germany, which together accounted for a further 14%.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +37.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Belgium ($X) constituted the largest phenolic resins suppliers to Brazil, with a combined 68% share of total imports. These countries were followed by Germany and South Korea, which together accounted for a further 18%.

South Korea, with a CAGR of +29.7%, recorded the highest growth rate of 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

The average phenolic resins import price stood at $X per ton in 2021, rising by 25% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uruguay (+45.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :