Romania: Phenolic Resins Market 2024

Phenolic Resins Market Size in Romania

In 2021, after two years of decline, there was significant growth in the Romanian phenolic resins market, when its value increased by 587% to $X. Over the period under review, consumption, however, saw a deep downturn. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Phenolic Resins Exports

Exports from Romania

For the third year in a row, Romania recorded growth in overseas shipments of phenolic resins in primary forms, which increased by 6.7% to X tons in 2021. In general, exports continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2014 when exports increased by 355% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the near future.

In value terms, phenolic resins exports surged to $X in 2021. Over the period under review, exports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 335%. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in years to come.

Exports by Country

Bulgaria (X tons) and Serbia (X tons) were the main destinations of phenolic resins exports from Romania.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Serbia (with a CAGR of +66.8%).

In value terms, Bulgaria ($X) and Serbia ($X) were the largest markets for phenolic resins exported from Romania worldwide.

In terms of the main countries of destination, Serbia, with a CAGR of +62.9%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The average phenolic resins export price stood at $X per ton in 2021, rising by 18% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 20% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Serbia ($X per ton), while the average price for exports to Bulgaria stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Bulgaria (-0.5%).

Phenolic Resins Imports

Imports into Romania

After two years of decline, supplies from abroad of phenolic resins in primary forms increased by 18% to X tons in 2021. In general, imports, however, continue to indicate a pronounced descent. The most prominent rate of growth was recorded in 2017 with an increase of 63% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, phenolic resins imports surged to $X in 2021. Over the period under review, total imports indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when imports increased by 45% against the previous year. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Belgium (X tons) constituted the largest supplier of phenolic resins to Romania, with a 58% share of total imports. Moreover, phenolic resins imports from Belgium exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold. The third position in this ranking was held by Slovenia (X tons), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Belgium stood at +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-1.9% per year) and Slovenia (-5.2% per year).

In value terms, Belgium ($X) constituted the largest supplier of phenolic resins in primary forms to Romania, comprising 59% of total imports. The second position in the ranking was taken by Germany ($X), with a 14% share of total imports. It was followed by Slovenia, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Belgium stood at +9.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-2.4% per year) and Slovenia (+2.3% per year).

Import Prices by Country

The average phenolic resins import price stood at $X per ton in 2021, rising by 19% against the previous year. Over the period under review, import price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, phenolic resins import price increased by +67.7% against 2018 indices. The most prominent rate of growth was recorded in 2020 an increase of 24% against the previous year. Over the period under review, average import prices reached the maximum in 2021 and is likely to see gradual growth in years to come.

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 Germany ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovenia (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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