Latin America and the Caribbean: Phenolic Resins Market 2024

Phenolic Resins Market Size in Latin America and the Caribbean

After two years of growth, the Latin American phenolic resins market decreased by -3.2% to $X in 2021. Overall, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Phenolic Resins Production in Latin America and the Caribbean

In value terms, phenolic resins production contracted to $X in 2021 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 22%. As a result, production attained the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Phenolic Resins Exports

Exports in Latin America and the Caribbean

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 32% to X tons. Overall, exports continue to indicate a relatively flat trend pattern. The volume of export peaked at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, phenolic resins exports soared to $X in 2021. Over the period under review, exports, however, recorded a pronounced curtailment. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Brazil represented the major exporter of phenolic resins in primary forms in Latin America and the Caribbean, with the volume of exports reaching X tons, which was approx. 63% of total exports in 2021. It was distantly followed by Argentina (X tons) and Colombia (X tons), together creating a 30% share of total exports. Chile (X tons) and Mexico (X tons) followed a long way behind the leaders.

Exports from Brazil increased at an average annual rate of +1.8% from 2012 to 2021. At the same time, Chile (+9.2%) and Colombia (+4.8%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +9.2% from 2012-2021. Argentina experienced a relatively flat trend pattern. By contrast, Mexico (-19.5%) illustrated a downward trend over the same period. Brazil (+8.8 p.p.), Colombia (+1.9 p.p.) and Chile (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while Mexico saw its share reduced by -11.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest phenolic resins supplier in Latin America and the Caribbean, comprising 70% of total exports. The second position in the ranking was taken by Argentina ($X), with a 13% share of total exports. It was followed by Colombia, with a 7.8% share.

In Brazil, phenolic resins exports plunged by an average annual rate of -1.2% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Argentina (+0.8% per year) and Colombia (+3.0% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, with an increase of 14% against the previous year. Overall, the export price, however, saw a noticeable slump. Over the period under review, the export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+0.8%), while the other leaders experienced mixed trends in the export price figures.

Phenolic Resins Imports

Imports in Latin America and the Caribbean

In 2021, after two years of decline, there was significant growth in purchases abroad of phenolic resins in primary forms, when their volume increased by 26% to X tons. The total import volume increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, phenolic resins imports skyrocketed to $X in 2021. In general, imports saw a relatively flat trend pattern. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Mexico was the largest importing country with an import of around X tons, which resulted at 39% of total imports. Argentina (X tons) took the second position in the ranking, followed by Uruguay (X tons) and Brazil (X tons). All these countries together took approx. 40% share of total imports. The following importers - Colombia (X tons), Peru (X tons), Chile (X tons), Paraguay (X tons) and Ecuador (X tons) - together made up 16% of total imports.

Mexico experienced a relatively flat trend pattern with regard to volume of imports of phenolic resins in primary forms. At the same time, Paraguay (+10.9%), Argentina (+6.9%), Ecuador (+3.4%), Colombia (+3.1%) and Brazil (+1.5%) displayed positive paces of growth. Moreover, Paraguay emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +10.9% from 2012-2021. Uruguay experienced a relatively flat trend pattern. By contrast, Peru (-1.9%) and Chile (-2.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Argentina and Paraguay increased by +5.8 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported phenolic resins in primary forms in Latin America and the Caribbean, comprising 47% of total imports. The second position in the ranking was held by Brazil ($X), with a 15% share of total imports. It was followed by Argentina, with a 13% share.

In Mexico, phenolic resins imports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Brazil (+1.1% per year) and Argentina (+3.7% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, picking up by 9.9% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (+0.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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