Denmark: Phenolic Resins Market 2024

Phenolic Resins Market Size in Denmark

The Danish phenolic resins market skyrocketed to $X in 2021, increasing by 24% against the previous year. In general, the total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.6% 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 +21.3% against 2018 indices. Phenolic resins consumption peaked in 2021 and is expected to retain growth in the immediate term.

Phenolic Resins Production in Denmark

In value terms, phenolic resins production rose rapidly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2016 when the production volume increased by 31%. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Phenolic Resins Exports

Exports from Denmark

In 2021, overseas shipments of phenolic resins in primary forms were finally on the rise to reach X tons after three years of decline. Over the period under review, exports recorded a prominent expansion. The pace of growth was the most pronounced in 2014 when exports increased by 229%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, phenolic resins exports skyrocketed to $X in 2021. Overall, exports continue to indicate a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X tons), Spain (X tons) and Italy (X tons) were the main destinations of phenolic resins exports from Denmark, with a combined 77% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +94.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for phenolic resins exported from Denmark were Spain ($X), Germany ($X) and Italy ($X), with a combined 64% share of total exports.

Italy, with a CAGR of +88.7%, saw 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, jumping by 35% against the previous year. In general, the export price showed a pronounced increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Greenland ($X per ton), while the average price for exports to Sweden ($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 Croatia (+13.6%), while the prices for the other major destinations experienced more modest paces of growth.

Phenolic Resins Imports

Imports into Denmark

In 2021, purchases abroad of phenolic resins in primary forms was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, total imports indicated a perceptible expansion from 2012 to 2021: its volume increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -4.2% against 2018 indices. The most prominent rate of growth was recorded in 2015 with an increase of 23%. 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 surged to $X in 2021. Over the period under review, total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +34.9% against 2018 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 55%. Imports peaked in 2021 and are likely to continue growth in the near future.

Imports by Country

In 2021, Sweden (X tons) constituted the largest phenolic resins supplier to Denmark, with a 72% share of total imports. Moreover, phenolic resins imports from Sweden exceeded the figures recorded by the second-largest supplier, Germany (X tons), sevenfold. The third position in this ranking was held by France (X tons), with a 4.6% share.

From 2012 to 2021, the average annual growth rate of volume from Sweden totaled +18.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-15.4% per year) and France (+45.2% per year).

In value terms, Sweden ($X), Germany ($X) and Austria ($X) appeared to be the largest phenolic resins suppliers to Denmark, together accounting for 70% of total imports. These countries were followed by France, the Netherlands, the UK, Belgium and Finland, which together accounted for a further 16%.

The Netherlands, with a CAGR of +55.1%, 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 29% against the previous year. In general, import price indicated noticeable growth from 2012 to 2021: its price increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, phenolic resins import price increased by +47.5% against 2019 indices. The growth pace was the most rapid in 2014 when the average import price increased by 31%. Over the period under review, average import prices reached the maximum in 2021 and is expected to retain growth in years to come.

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 Austria ($X per ton), while the price for Sweden ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+16.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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