Scandinavia: Phenolic Resins Market 2024

Phenolic Resins Market Size in Scandinavia

In 2021, the Scandinavia phenolic resins market increased by 22% to $X, rising for the fifth consecutive year after two years of decline. The total consumption indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +69.1% against 2016 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Phenolic Resins Production in Scandinavia

In value terms, phenolic resins production skyrocketed to $X in 2021 estimated in export price. Overall, production showed a relatively flat trend pattern. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Phenolic Resins Exports

Exports in Scandinavia

Phenolic resins exports skyrocketed to X tons in 2021, picking up by 15% against the previous year's figure. Over the period under review, exports, however, continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2013 with an increase of 19%. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, phenolic resins exports skyrocketed to $X in 2021. Overall, exports showed a relatively flat trend pattern. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Sweden represented the key exporter of phenolic resins in primary forms in Scandinavia, with the volume of exports reaching X tons, which was approx. 76% of total exports in 2021. It was distantly followed by Norway (X tons), committing a 23% share of total exports.

Sweden was also the fastest-growing in terms of the phenolic resins in primary forms exports, with a CAGR of +9.0% from 2012 to 2021. At the same time, Norway (+8.4%) displayed positive paces of growth. Sweden (+55 p.p.) and Norway (+16 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) and Norway ($X) constituted the countries with the highest levels of exports in 2021.

Norway, with a CAGR of +9.2%, 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.

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per ton, jumping by 43% against the previous year. In general, the export price showed a buoyant increase. The growth pace was the most rapid in 2020 an increase of 54%. The level of export peaked in 2021 and is likely to continue growth in the immediate term.

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 Norway ($X per ton), while Sweden totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+0.8%).

Phenolic Resins Imports

Imports in Scandinavia

In 2021, imports of phenolic resins in primary forms in Scandinavia amounted to X tons, with an increase of 4.8% against the previous year. The total import volume increased at an average annual rate of +3.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when imports increased by 16%. The volume of import peaked in 2021 and is likely to see steady growth in the immediate term.

In value terms, phenolic resins imports soared to $X in 2021. The total import value increased at an average annual rate of +4.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Sweden was the main importer of phenolic resins in primary forms in Scandinavia, with the volume of imports amounting to X tons, which was approx. 47% of total imports in 2021. Denmark (X tons) ranks second in terms of the total imports with a 28% share, followed by Norway (20%). Finland (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Norway (with a CAGR of +23.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest phenolic resins importing markets in Scandinavia were Sweden ($X), Denmark ($X) and Norway ($X), together accounting for 92% of total imports.

Norway, with a CAGR of +15.6%, saw the highest rates of growth with regard to 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 Scandinavia amounted to $X per ton, with an increase of 29% against the previous year. Overall, the import price showed a relatively flat trend pattern. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Finland ($X per ton), while Norway ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+3.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform