Chile: Phenolic Resins Market 2024

Phenolic Resins Market Size in Chile

In 2021, the Chilean phenolic resins market increased by 9.4% to $X, rising for the second consecutive year after four years of decline. Overall, consumption continues to indicate a abrupt curtailment. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Phenolic Resins Exports

Exports from Chile

In 2021, exports of phenolic resins in primary forms from Chile soared to X tons, rising by 32% on 2020 figures. Overall, exports posted a remarkable increase. The most prominent rate of growth was recorded in 2018 with an increase of 79%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, phenolic resins exports surged to $X in 2021. In general, exports posted strong growth. The pace of growth appeared the most rapid in 2018 with an increase of 90% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Argentina (X tons) was the main destination for phenolic resins exports from Chile, accounting for a 89% share of total exports. Moreover, phenolic resins exports to Argentina exceeded the volume sent to the second major destination, Peru (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Argentina stood at +12.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (-10.1% per year) and Venezuela (+16.5% per year).

In value terms, Argentina ($X) remains the key foreign market for phenolic resins in primary forms exports from Chile, comprising 89% of total exports. The second position in the ranking was taken by Peru ($X), with a 5.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Argentina totaled +11.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (-8.4% per year) and Venezuela (+23.2% per year).

Export Prices by Country

In 2021, the average phenolic resins export price amounted to $X per ton, rising by 5.7% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 21% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Peru ($X per ton), while the average price for exports to Venezuela ($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 Venezuela (+5.8%), while the prices for the other major destinations experienced mixed trend patterns.

Phenolic Resins Imports

Imports into Chile

In 2021, imports of phenolic resins in primary forms into Chile rose sharply to X tons, surging by 13% against 2020 figures. In general, imports, however, showed a pronounced decline. The growth pace was the most rapid in 2020 when imports increased by 14% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, phenolic resins imports surged to $X in 2021. Overall, imports, however, showed a noticeable contraction. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Brazil (X tons) constituted the largest supplier of phenolic resins to Chile, accounting for a 72% share of total imports. Moreover, phenolic resins imports from Brazil exceeded the figures recorded by the second-largest supplier, Belgium (X tons), tenfold. The third position in this ranking was held by Japan (X tons), with a 4.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Brazil was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+24.5% per year) and Japan (+4.4% per year).

In value terms, Brazil ($X) constituted the largest supplier of phenolic resins in primary forms to Chile, comprising 65% of total imports. The second position in the ranking was taken by Japan ($X), with a 12% share of total imports. It was followed by Belgium, with a 4.9% share.

From 2012 to 2021, the average annual growth rate of value from Brazil stood at -2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+5.1% per year) and Belgium (+18.1% per year).

Import Prices by Country

In 2021, the average phenolic resins import price amounted to $X per ton, surging by 12% against the previous year. Over the period under review, the import price, however, recorded a mild downturn. 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.

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 Japan ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+9.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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