Eastern Europe: Phenolic Resins Market 2024

Phenolic Resins Market Size in Eastern Europe

The East European phenolic resins market expanded remarkably to $X in 2021, with an increase of 15% against the previous year. The market value increased at an average annual rate of +2.1% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Phenolic Resins Production in Eastern Europe

In value terms, phenolic resins production soared to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Phenolic Resins Exports

Exports in Eastern Europe

In 2021, exports of phenolic resins in primary forms in Eastern Europe rose remarkably to X tons, increasing by 12% on 2020. Total exports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +1.3% against 2018 indices. The pace of growth was the most pronounced in 2018 with an increase of 36% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in years to come.

In value terms, phenolic resins exports soared to $X in 2021. Total exports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Poland (X tons) represented the key exporter of phenolic resins in primary forms, making up 53% of total exports. It was distantly followed by Russia (X tons) and Belarus (X tons), together comprising a 44% share of total exports. Romania (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Romania (with a CAGR of +11.7%), while the other leaders experienced more modest paces of growth.

In value terms, Poland ($X) remains the largest phenolic resins supplier in Eastern Europe, comprising 59% of total exports. The second position in the ranking was held by Russia ($X), with a 22% share of total exports. It was followed by Belarus, with a 14% share.

In Poland, phenolic resins exports increased at an average annual rate of +6.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Russia (+1.1% per year) and Belarus (+16.4% per year).

Export Prices by Country

In 2021, the export price in Eastern Europe amounted to $X per ton, growing by 41% against the previous year. Overall, the export price, however, continues to indicate a slight slump. The level of export 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 amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Poland ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belarus (+5.6%), while the other leaders experienced a decline in the export price figures.

Phenolic Resins Imports

Imports in Eastern Europe

Phenolic resins imports totaled X tons in 2021, rising by 7.3% compared with the year before. Total imports indicated a notable expansion from 2012 to 2021: its volume increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -1.9% against 2019 indices. The pace of growth was the most pronounced in 2019 when imports increased by 18%. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, phenolic resins imports surged to $X in 2021. The total import value increased at an average annual rate of +2.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the four major importers of phenolic resins in primary forms, namely Russia, Poland, Ukraine and the Czech Republic, represented more than half of total import. Estonia (X tons) ranks next in terms of the total imports with a 7% share, followed by Belarus (6.6%) and Slovakia (5.2%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Russia (with a CAGR of +18.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest phenolic resins importing markets in Eastern Europe were Poland ($X), Russia ($X) and the Czech Republic ($X), together comprising 57% of total imports.

In terms of the main importing countries, Russia, with a CAGR of +9.1%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Eastern Europe amounted to $X per ton, with an increase of 22% against the previous year. Overall, the import price, however, recorded a slight contraction. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was the Czech Republic ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ukraine (+1.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :