Indonesia: Phenolic Resins Market 2024

Phenolic Resins Market Size in Indonesia

The Indonesian phenolic resins market rose rapidly to $X in 2021, growing by 5.2% against the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Phenolic Resins Production in Indonesia

In value terms, phenolic resins production totaled $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 23%. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Phenolic Resins Exports

Exports from Indonesia

In 2021, overseas shipments of phenolic resins in primary forms were finally on the rise to reach X tons after three years of decline. In general, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 32% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, phenolic resins exports surged to $X in 2021. Overall, exports, however, continue to indicate a perceptible shrinkage. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Thailand (X tons), Singapore (X tons) and India (X tons) were the main destinations of phenolic resins exports from Indonesia, with a combined 71% share of total exports.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +88.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Singapore ($X) and India ($X) constituted the largest markets for phenolic resins exported from Indonesia worldwide, together accounting for 69% of total exports.

India, with a CAGR of +82.8%, saw the highest growth rate of the value of exports, among 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, with an increase of 3.2% against the previous year. Over the period under review, the export price, however, recorded a noticeable downturn. The growth pace was the most rapid in 2018 an increase of 12%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2021, amid the top suppliers, the countries with the highest prices were China ($X per ton) and Japan ($X per ton), while the average price for exports to Hong Kong SAR ($X per ton) and the Philippines ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+2.0%), while the prices for the other major destinations experienced a decline.

Phenolic Resins Imports

Imports into Indonesia

In 2021, imports of phenolic resins in primary forms into Indonesia surged to X tons, picking up by 17% compared with the previous year. Over the period under review, total imports indicated temperate growth from 2012 to 2021: its volume increased at an average annual rate of +2.2% 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 increased by +11.1% against 2018 indices. The growth pace was the most rapid in 2013 when imports increased by 30%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, phenolic resins imports soared 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. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of phenolic resins to Indonesia, accounting for a 43% share of total imports. Moreover, phenolic resins imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X tons), threefold. Japan (X tons) ranked third in terms of total imports with a 9.9% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+5.2% per year) and Japan (+3.5% per year).

In value terms, the largest phenolic resins suppliers to Indonesia were China ($X), Japan ($X) and Taiwan (Chinese) ($X), with a combined 63% share of total imports.

Among the main suppliers, Taiwan (Chinese), with a CAGR of +11.8%, 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

The average phenolic resins import price stood at $X per ton in 2021, with an increase of 10% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 51% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

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 Japan ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+17.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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