Iran: Phenolic Resins Market 2024

Phenolic Resins Market Size in Iran

The Iranian phenolic resins market soared to $X in 2021, picking up by 20% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption enjoyed a moderate increase. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Phenolic Resins Exports

Exports from Iran

For the ninth year in a row, Iran recorded decline in overseas shipments of phenolic resins in primary forms, which decreased by -57.7% to X tons in 2021. In general, exports faced a significant decrease. The smallest decline of -26% was in 2013. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, phenolic resins exports declined rapidly to $X in 2021. Overall, exports continue to indicate a sharp descent. The smallest decline of -16.8% was in 2013. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Uzbekistan (X tons), Pakistan (X tons) and Armenia (X tons) were the main destinations of phenolic resins exports from Iran.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Pakistan (with a CAGR of +16.0%), while the other leaders experienced mixed trend patterns.

In value terms, Uzbekistan ($X) emerged as the key foreign market for phenolic resins in primary forms exports from Iran, comprising 61% of total exports. The second position in the ranking was taken by Pakistan ($X), with a 21% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Uzbekistan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (+14.6% per year) and Armenia (-7.2% per year).

Export Prices by Country

In 2021, the average phenolic resins export price amounted to $X per ton, picking up by 18% against the previous year. Overall, the export price enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2019 an increase of 39% against the previous year. Over the period under review, the average export prices attained the maximum in 2021 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Uzbekistan ($X per ton), while the average price for exports to Pakistan ($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 Afghanistan (+68.6%), while the prices for the other major destinations experienced more modest paces of growth.

Phenolic Resins Imports

Imports into Iran

Phenolic resins imports into Iran amounted to X tons in 2021, with an increase of 13% compared with the year before. Over the period under review, imports saw a mild increase. The growth pace was the most rapid in 2019 with an increase of 88%. 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. In general, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 62%. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of phenolic resins to Iran, accounting for a 59% share of total imports. Moreover, phenolic resins imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), tenfold. The third position in this ranking was taken by India (X tons), with a 5.8% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +7.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+10.2% per year) and India (+17.4% per year).

In value terms, China ($X) constituted the largest supplier of phenolic resins in primary forms to Iran, comprising 43% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 9.5% share of total imports. It was followed by the United Arab Emirates, with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +8.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+12.5% per year) and the United Arab Emirates (+11.9% per year).

Import Prices by Country

The average phenolic resins import price stood at $X per ton in 2021, rising by 7% against the previous year. Over the period under review, the import price, however, saw a perceptible decrease. The pace of growth appeared the most rapid in 2018 an increase of 20%. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the average 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 Switzerland ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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