EU: Phenolic Resins Market 2024

Phenolic Resins Market Size in the EU

In 2021, the EU phenolic resins market increased by 24% to $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +2.0% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Phenolic Resins Production in the EU

In value terms, phenolic resins production surged to $X in 2021 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The level of production peaked at $X in 2012; afterwards, it flattened through to 2021.

Phenolic Resins Exports

Exports in the EU

In 2021, overseas shipments of phenolic resins in primary forms were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 13%. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, phenolic resins exports soared to $X in 2021. In general, exports recorded a relatively flat trend pattern. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons) and Poland (X tons) were the largest exporters of phenolic resins in primary forms in 2021, amounting to approx. 26% and 23% of total exports, respectively. It was distantly followed by Belgium (X tons), France (X tons), Spain (X tons), Italy (X tons), Sweden (X tons) and Portugal (X tons), together constituting a 48% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Portugal (with a CAGR of +36.6%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Belgium ($X) and France ($X) constituted the countries with the highest levels of exports in 2021, with a combined 61% share of total exports. These countries were followed by Poland, Italy, Spain, Portugal and Sweden, which together accounted for a further 34%.

Portugal, with a CAGR of +35.7%, 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 more modest paces of growth.

Export Prices by Country

In 2021, the export price in the European Union amounted to $X per ton, picking up by 23% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. Over the period under review, the export prices reached the maximum at $X per ton in 2013; afterwards, it flattened through to 2021.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+0.3%), while the other leaders experienced a decline in the export price figures.

Phenolic Resins Imports

Imports in the EU

After two years of decline, supplies from abroad of phenolic resins in primary forms increased by 13% to X tons in 2021. The total import volume increased at an average annual rate of +3.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 with an increase of 14% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the near future.

In value terms, phenolic resins imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X tons), distantly followed by France (X tons), Italy (X tons), Poland (X tons), the Netherlands (X tons) and the Czech Republic (X tons) represented the main importers of phenolic resins in primary forms, together generating 63% of total imports. Spain (X tons), Austria (X tons), Sweden (X tons), Estonia (X tons), Ireland (X tons), Croatia (X tons) and Belgium (X tons) took a little share of total imports.

Imports into Germany increased at an average annual rate of +6.1% from 2012 to 2021. At the same time, Estonia (+12.9%), Austria (+10.9%), the Netherlands (+9.1%), Ireland (+6.0%), Spain (+4.5%), Italy (+4.0%), Poland (+2.3%), the Czech Republic (+2.2%), Croatia (+2.2%) and Sweden (+1.5%) displayed positive paces of growth. Moreover, Estonia emerged as the fastest-growing importer imported in the European Union, with a CAGR of +12.9% from 2012-2021. France experienced a relatively flat trend pattern. By contrast, Belgium (-6.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Germany, the Netherlands, Estonia and Austria increased by +4.4, +2.9, +1.7 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X), Italy ($X) and France ($X) constituted the countries with the highest levels of imports in 2021, with a combined 43% share of total imports. These countries were followed by Poland, the Netherlands, Austria, Spain, the Czech Republic, Belgium, Sweden, Ireland, Estonia and Croatia, which together accounted for a further 41%.

Austria, with a CAGR of +11.5%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the European Union stood at $X per ton in 2021, growing by 21% against the previous year. In general, the import price, however, saw a mild curtailment. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Austria ($X per ton), while Estonia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+2.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :