Colombia: Phenolic Resins Market 2024

Phenolic Resins Market Size in Colombia

The Colombian phenolic resins market skyrocketed to $X in 2021, with an increase of 73% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption enjoyed a modest increase. Over the period under review, the market reached the peak level at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Phenolic Resins Exports

Exports from Colombia

In 2021, approx. X tons of phenolic resins in primary forms were exported from Colombia; rising by 23% compared with the previous year. In general, total exports indicated tangible growth from 2012 to 2021: its volume increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -13.9% against 2017 indices. The pace of growth was the most pronounced in 2017 when exports increased by 48% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, phenolic resins exports soared to $X in 2021. Over the period under review, total exports indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -21.4% against 2019 indices. The pace of growth appeared the most rapid in 2017 when exports increased by 45% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Peru (X tons), Bolivia (X tons) and Venezuela (X tons) were the main destinations of phenolic resins exports from Colombia, together comprising 69% of total exports. These countries were followed by Mexico, Chile, Argentina, Brazil and Ecuador, which together accounted for a further 26%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Argentina (with a CAGR of +51.8%), while the other leaders experienced more modest paces of growth.

In value terms, Peru ($X), Bolivia ($X) and Mexico ($X) were the largest markets for phenolic resins exported from Colombia worldwide, with a combined 67% share of total exports. Venezuela, Chile, Argentina, Brazil and Ecuador lagged somewhat behind, together comprising a further 26%.

In terms of the main countries of destination, Argentina, with a CAGR of +34.4%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average phenolic resins export price amounted to $X per ton, rising by 2.5% against the previous year. Over the period under review, the export price, however, continues to indicate a slight reduction. The pace of growth was the most pronounced in 2014 when the average export price increased by 6.2%. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ecuador ($X per ton), while the average price for exports to Venezuela ($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 Ecuador (+2.5%), while the prices for the other major destinations experienced mixed trend patterns.

Phenolic Resins Imports

Imports into Colombia

In 2021, after two years of decline, there was significant growth in overseas purchases of phenolic resins in primary forms, when their volume increased by 35% to X tons. The total import volume increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, phenolic resins imports skyrocketed to $X in 2021. In general, total imports indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Brazil (X tons), the United States (X tons) and Germany (X tons) were the main suppliers of phenolic resins imports to Colombia, with a combined 73% share of total imports. China, India, the Netherlands and Mexico lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of +62.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest phenolic resins suppliers to Colombia were the United States ($X), Brazil ($X) and Germany ($X), together accounting for 72% of total imports. China, the Netherlands, India and Mexico lagged somewhat behind, together accounting for a further 19%.

The Netherlands, with a CAGR of +60.0%, recorded 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

The average phenolic resins import price stood at $X per ton in 2021, growing by 7.9% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 11%. Over the period under review, average import prices reached the maximum at $X per ton in 2018; however, from 2019 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 the Netherlands ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :