Eastern Asia: Phenols Market 2024

Phenols Market Size in Eastern Asia

In 2022, the East Asian phenols market decreased by X% to $X, falling for the second consecutive year after four years of growth. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Phenols Production in Eastern Asia

In value terms, phenols production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Phenols Exports

Exports in Eastern Asia

After two years of growth, shipments abroad of phenols decreased by X% to X tons in 2022. Over the period under review, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons, and then contracted remarkably in the following year.

In value terms, phenols exports contracted significantly to $X in 2022. Total exports indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports reached the peak of $X, and then dropped remarkably in the following year.

Exports by Country

In 2022, South Korea (X tons) and Taiwan (Chinese) (X tons) represented the major exporters of phenols in Eastern Asia, together finishing at near X% of total exports. Japan (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by China (X%).

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, South Korea ($X), China ($X) and Taiwan (Chinese) ($X) were the countries with the highest levels of exports in 2022, together comprising X% of total exports.

South Korea, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, rising by X% against the previous year. Export price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, phenols export price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2018 an increase of X%. The level of export peaked in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (X%), while the other leaders experienced more modest paces of growth.

Phenols Imports

Imports in Eastern Asia

In 2022, after five years of growth, there was significant decline in supplies from abroad of phenols, when their volume decreased by X% to X tons. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by X%. The volume of import peaked at X tons in 2021, and then contracted sharply in the following year.

In value terms, phenols imports dropped to $X in 2022. Total imports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

In 2022, China (X tons) was the largest importer of phenols, achieving X% of total imports. South Korea (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Taiwan (Chinese) (X%) and Japan (X%).

Imports into China decreased at an average annual rate of X% from 2012 to 2022. At the same time, Taiwan (Chinese) (X%) and Japan (X%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2022. South Korea experienced a relatively flat trend pattern. While the share of Taiwan (Chinese) (X p.p.) and Japan (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of China (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported phenols in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with a X% share of total imports. It was followed by Taiwan (Chinese), with a X% share.

From 2012 to 2022, the average annual growth rate of value in China stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Taiwan (Chinese) (X% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, with an increase of X% against the previous year. Import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, phenols import price increased by X% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in South Korea ($X per ton) and Taiwan (Chinese) ($X per ton), while China ($X per ton) and Japan ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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