MERCOSUR: Phenolic Resins Market 2024

Phenolic Resins Market Size in MERCOSUR

In 2021, the MERCOSUR phenolic resins market decreased by -7.5% to $X for the first time since 2018, thus ending a two-year rising trend. In general, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Phenolic Resins Production in MERCOSUR

In value terms, phenolic resins production contracted to $X in 2021 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 25% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Phenolic Resins Exports

Exports in MERCOSUR

In 2021, overseas shipments of phenolic resins in primary forms increased by 33% to X tons for the first time since 2018, thus ending a two-year declining trend. Total exports indicated a modest increase from 2012 to 2021: its volume increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, phenolic resins exports skyrocketed to $X in 2021. Overall, exports, however, continue to indicate a slight reduction. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Brazil (X tons) represented the key exporter of phenolic resins in primary forms, creating 64% of total exports. Argentina (X tons) ranks second in terms of the total exports with a 25% share, followed by Colombia (5.6%). Chile (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to phenolic resins exports from Brazil stood at +1.8%. 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 MERCOSUR, with a CAGR of +9.2% from 2012-2021. Argentina experienced a relatively flat trend pattern. While the share of Brazil (+1.7 p.p.) and Chile (+1.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Argentina (-2.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest phenolic resins supplier in MERCOSUR, comprising 73% of total exports. The second position in the ranking was held by Argentina ($X), with a 13% share of total exports. It was followed by Colombia, with an 8.2% share.

From 2012 to 2021, the average annual growth rate of value in Brazil stood at -1.2%. In the other countries, the average annual rates were as follows: Argentina (+0.8% per year) and Colombia (+3.0% per year).

Export Prices by Country

In 2021, the export price in MERCOSUR amounted to $X per ton, with an increase of 15% against the previous year. In general, the export price, however, showed a perceptible slump. Over the period under review, the export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Colombia ($X per ton), while Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+0.1%), while the other leaders experienced a decline in the export price figures.

Phenolic Resins Imports

Imports in MERCOSUR

After two years of decline, purchases abroad of phenolic resins in primary forms increased by 17% to X tons in 2021. The total import volume increased at an average annual rate of +1.9% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, phenolic resins imports surged to $X in 2021. Overall, imports recorded 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

In 2021, Argentina (X tons), Uruguay (X tons) and Brazil (X tons) represented the main importer of phenolic resins in primary forms in MERCOSUR, constituting 70% of total import. It was distantly followed by Colombia (X tons), Peru (X tons), Chile (X tons) and Paraguay (X tons), together making up a 24% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Paraguay (with a CAGR of +10.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Argentina ($X) and Colombia ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 68% share of total imports. These countries were followed by Uruguay, Chile, Peru and Paraguay, which together accounted for a further 25%.

Paraguay, with a CAGR of +8.0%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in MERCOSUR amounted to $X per ton, picking up by 16% against the previous year. Over the period under review, the import price, however, showed a slight curtailment. The level of import 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 importing countries. In 2021, amid the top importers, the country with the highest price was Chile ($X per ton), while Uruguay ($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 a decline in the import price figures.

Source: IndexBox Platform