Israel: Phenolic Resins Market 2024

Phenolic Resins Market Size in Israel

In 2021, the Israeli phenolic resins market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption saw a mild slump. Phenolic resins consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Phenolic Resins Exports

Exports from Israel

In 2021, after two years of decline, there was significant growth in shipments abroad of phenolic resins in primary forms, when their volume increased by 52% to X tons. In general, exports, however, recorded a noticeable shrinkage. The pace of growth appeared the most rapid in 2014 with an increase of 122%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, phenolic resins exports skyrocketed to $X in 2021. Over the period under review, exports, however, showed a pronounced decline. The pace of growth appeared the most rapid in 2014 when exports increased by 217%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons), Turkey (X tons) and Canada (X tons) were the main destinations of phenolic resins exports from Israel, together comprising 80% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of +11.1%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for phenolic resins in primary forms exports from Israel, comprising 49% of total exports. The second position in the ranking was taken by Greece ($X), with a 14% share of total exports. It was followed by Canada, with a 6.9% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +3.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (0.0% per year) and Canada (-7.0% per year).

Export Prices by Country

In 2021, the average phenolic resins export price amounted to $X per ton, growing by 6.3% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 72%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Greece ($X per ton), while the average price for exports to Turkey ($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 Madagascar (+10.9%), while the prices for the other major destinations experienced more modest paces of growth.

Phenolic Resins Imports

Imports into Israel

In 2021, supplies from abroad of phenolic resins in primary forms decreased by -3.7% to X tons, falling for the third year in a row after two years of growth. Overall, imports continue to indicate a mild curtailment. The pace of growth was the most pronounced in 2017 with an increase of 41%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, phenolic resins imports totaled $X in 2021. In general, imports showed a mild curtailment. The most prominent rate of growth was recorded in 2017 when imports increased by 35% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Egypt (X tons), Italy (X tons) and Germany (X tons) were the main suppliers of phenolic resins imports to Israel, with a combined 44% share of total imports. These countries were followed by Turkey, China, France, the United States, Hong Kong SAR and the UK, which together accounted for a further 20%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hong Kong SAR (with a CAGR of +16.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Germany ($X) and Turkey ($X) appeared to be the largest phenolic resins suppliers to Israel, together accounting for 39% of total imports. These countries were followed by China, France, the United States, Hong Kong SAR, the UK and Egypt, which together accounted for a further 19%.

Hong Kong SAR, with a CAGR of +15.8%, recorded the highest growth rate of the value of imports, among the main suppliers 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, rising by 10% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The import price peaked 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 supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+0.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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