Russian Federation: Phenolic Resins Market 2024

Phenolic Resins Market Size in the Russian Federation

The Russian phenolic resins market expanded sharply to $X in 2021, increasing by 7.4% against the previous year. The market value increased at an average annual rate of +3.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Phenolic Resins Production in the Russian Federation

In value terms, phenolic resins production rose rapidly 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 2017 when the production volume increased by 31%. Phenolic resins production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Phenolic Resins Exports

Exports from the Russian Federation

In 2021, approx. X tons of phenolic resins in primary forms were exported from Russia; with an increase of 13% against the previous year. Over the period under review, total exports indicated a moderate increase from 2012 to 2021: its volume increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +78.3% against 2015 indices. The pace of growth appeared the most rapid in 2018 when exports increased by 27% against the previous year. The exports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, phenolic resins exports skyrocketed to $X in 2021. Overall, total exports indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Ukraine (X tons), Belarus (X tons) and Kazakhstan (X tons) were the main destinations of phenolic resins exports from Russia, with a combined 86% share of total exports. These countries were followed by the Netherlands, Uzbekistan and Estonia, which together accounted for a further 12%.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +1,351.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for phenolic resins exported from Russia were Ukraine ($X), Belarus ($X) and Kazakhstan ($X), with a combined 85% share of total exports. These countries were followed by Uzbekistan, Estonia and the Netherlands, which together accounted for a further 8.6%.

The Netherlands, with a CAGR of +211.2%, 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 more modest paces of growth.

Export Prices by Country

The average phenolic resins export price stood at $X per ton in 2021, increasing by 46% against the previous year. In general, the export price, however, recorded a noticeable contraction. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Uzbekistan ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ukraine (+1.2%), while the prices for the other major destinations experienced a decline.

Phenolic Resins Imports

Imports into the Russian Federation

In 2021, purchases abroad of phenolic resins in primary forms increased by 39% to X tons, rising for the fifth year in a row after three years of decline. Over the period under review, imports showed a remarkable increase. The pace of growth was the most pronounced in 2019 with an increase of 154% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, phenolic resins imports surged to $X in 2021. In general, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2019 with an increase of 87% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of phenolic resins to Russia, accounting for a 28% share of total imports. Moreover, phenolic resins imports from China exceeded the figures recorded by the second-largest supplier, Poland (X tons), threefold. Belgium (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +34.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+38.8% per year) and Belgium (+18.9% per year).

In value terms, the largest phenolic resins suppliers to Russia were China ($X), Belgium ($X) and Germany ($X), with a combined 31% share of total imports. Poland, Estonia, France, Turkey and the UK lagged somewhat behind, together comprising a further 18%.

In terms of the main suppliers, Poland, with a CAGR of +20.3%, 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

The average phenolic resins import price stood at $X per ton in 2021, surging by 2.1% against the previous year. In general, the import price, however, showed a deep reduction. The most prominent rate of growth was recorded in 2016 an increase of 10%. Over the period under review, average import prices attained the maximum 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 origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (-1.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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