Puerto Rico: Phenols Market 2024

Phenols Market Size in Puerto Rico

The Puerto Rican phenols market reduced dramatically to $X in 2021, with a decrease of -17.5% against the previous year. Overall, consumption saw a perceptible downturn. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Phenols Production in Puerto Rico

In value terms, phenols production fell notably to $X in 2021 estimated in export price. Over the period under review, production saw a pronounced setback. The most prominent rate of growth was recorded in 2020 when the production volume increased by 64%. Puerto Rico production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Phenols Exports

Exports from Puerto Rico

Phenols exports from Puerto Rico stood at less than X kg in 2021, approximately equating the previous year. Overall, exports saw a relatively flat trend pattern.

In value terms, phenols exports totaled less than $X in 2021. In general, exports saw a relatively flat trend pattern.

Exports by Country

The biggest shipments were from Thailand (X tons), the United States (X tons), Japan (X tons), Belgium (X tons), South Korea (X tons), China (X tons), Taiwan (Chinese) (X tons) and Singapore (X tons), together resulting at 75% of total export. The Netherlands (X tons), India (X tons), Germany (X tons), Russia (X tons) and Jordan (X tons) held a minor share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by China (with a CAGR of +10.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest phenols supplying countries from Puerto Rico were Japan ($X), China ($X) and the United States ($X), with a combined 33% share of total exports. These countries were followed by South Korea, Belgium, Thailand, Taiwan (Chinese), India, Germany, Singapore, Jordan, the Netherlands and Russia, which together accounted for a further 52%.

Jordan, with a CAGR of +12.4%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Puerto Rico amounted to less than $X per ton, standing approx. at the previous year. Over the period under review, the export price showed a relatively flat trend pattern.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+3.6%), while the other leaders experienced more modest paces of growth.

Phenols Imports

Imports into Puerto Rico

Phenols imports into Puerto Rico totaled less than X kg in 2021, approximately reflecting the previous year. Overall, imports saw a relatively flat trend pattern.

In value terms, phenols imports totaled less than $X in 2021. Over the period under review, imports showed a relatively flat trend pattern.

Imports by Country

China was the key importing country with an import of around X tons, which reached 31% of total imports. The Netherlands (X tons) held the second position in the ranking, followed by Germany (X tons) and India (X tons). All these countries together took approx. 28% share of total imports. Japan (X tons), Thailand (X tons), Belgium (X tons), Taiwan (Chinese) (X tons), South Korea (X tons), Poland (X tons), the UK (X tons), the United States (X tons) and Switzerland (X tons) took a relatively small share of total imports.

Imports into China increased at an average annual rate of +2.5% from 2012 to 2021. At the same time, Taiwan (Chinese) (+15.1%), India (+6.1%), Japan (+5.4%), Belgium (+4.7%), the United States (+3.6%), Germany (+3.3%), Poland (+3.3%), South Korea (+1.3%) and Switzerland (+1.3%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in the world, with a CAGR of +15.1% from 2012-2021. The Netherlands experienced a relatively flat trend pattern. By contrast, the UK (-1.2%) and Thailand (-6.1%) illustrated a downward trend over the same period. India (+2.6 p.p.) and Taiwan (Chinese) (+1.9 p.p.) significantly strengthened its position in terms of the global imports, while the Netherlands and Thailand saw its share reduced by -3.1% and -4.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported phenols into Puerto Rico, comprising 30% of global imports. The second position in the ranking was taken by India ($X), with an 8.9% share of global imports. It was followed by Germany, with an 8.1% share.

From 2012 to 2021, the average annual growth rate of value in China totaled +2.9%. In the other countries, the average annual rates were as follows: India (+6.2% per year) and Germany (+1.3% per year).

Import Prices by Country

The import price in Puerto Rico stood at less than $X per ton in 2021, approximately reflecting the previous year. In general, the import price saw a relatively flat trend pattern.

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 the United States ($X per ton), while Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+2.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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