Luxembourg: Phenolic Resins Market 2024

Phenolic Resins Market Size in Luxembourg

In 2021, the Luxembourg phenolic resins market was finally on the rise to reach $X after two years of decline. Over the period under review, the total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Phenolic Resins Exports

Exports from Luxembourg

In 2021, overseas shipments of phenolic resins in primary forms increased by 36% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, showed a deep reduction. The most prominent rate of growth was recorded in 2014 when exports increased by 68%. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, phenolic resins exports expanded markedly to $X in 2021. Overall, exports, however, saw a abrupt downturn. The growth pace was the most rapid in 2014 when exports increased by 65%. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Turkey (X tons), France (X tons) and Germany (X tons) were the main destinations of phenolic resins exports from Luxembourg, with a combined 96% share of total exports. These countries were followed by Slovenia, which accounted for a further 3.5%.

From 2012 to 2021, the biggest increases were recorded for Slovenia (with a CAGR of +55.1%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Turkey ($X), France ($X) and Germany ($X) appeared to be the largest markets for phenolic resins exported from Luxembourg worldwide, with a combined 96% share of total exports. Slovenia lagged somewhat behind, comprising a further 3.6%.

Slovenia, with a CAGR of +46.5%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average phenolic resins export price stood at $X per ton in 2021, shrinking by -19.3% against the previous year. In general, the export price recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2013 when the average export price increased by 9.9% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the countries with the highest prices were France ($X per ton) and Slovenia ($X per ton), while the average price for exports to Turkey ($X per ton) and Germany ($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 France (-1.3%), while the prices for the other major destinations experienced a decline.

Phenolic Resins Imports

Imports into Luxembourg

In 2021, after two years of decline, there was significant growth in overseas purchases of phenolic resins in primary forms, when their volume increased by 71% to X tons. Over the period under review, total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, phenolic resins imports skyrocketed to $X in 2021. Overall, total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, 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

Poland (X tons), Germany (X tons) and Belgium (X tons) were the main suppliers of phenolic resins imports to Luxembourg, together comprising 87% of total imports. These countries were followed by France and Ireland, which together accounted for a further 13%.

From 2012 to 2021, the biggest increases were recorded for Ireland (with a CAGR of +41.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest phenolic resins suppliers to Luxembourg were Belgium ($X), Germany ($X) and Poland ($X), with a combined 87% share of total imports. These countries were followed by Ireland and France, which together accounted for a further 12%.

In terms of the main suppliers, Ireland, with a CAGR of +67.1%, recorded 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

In 2021, the average phenolic resins import price amounted to $X per ton, declining by -6.1% against the previous year. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average import price increased by 17%. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ireland (+18.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :