Slovakia: Phenolic Resins Market 2024

Phenolic Resins Market Size in Slovakia

The Slovak phenolic resins market declined modestly to $X in 2021, with a decrease of -2.1% against the previous year. Over the period under review, consumption, however, saw a perceptible decrease. Phenolic resins consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Phenolic Resins Production in Slovakia

In value terms, phenolic resins production skyrocketed to $X in 2021 estimated in export price. In general, production continues to indicate a drastic downturn. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Phenolic Resins Exports

Exports from Slovakia

In 2021, overseas shipments of phenolic resins in primary forms decreased by -94% to X tons, falling for the third year in a row after three years of growth. Overall, exports continue to indicate a precipitous setback. The growth pace was the most rapid in 2017 with an increase of 1,540%. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, phenolic resins exports dropped markedly to $X in 2021. In general, exports showed a abrupt setback. The growth pace was the most rapid in 2017 with an increase of 206% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Russia (X tons), Serbia (X tons) and Portugal (X tons) were the main destinations of phenolic resins exports from Slovakia, with a combined 95% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Portugal (with a CAGR of +5.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) remains the key foreign market for phenolic resins in primary forms exports from Slovakia, comprising 77% of total exports. The second position in the ranking was held by Portugal ($X), with a 13% share of total exports. It was followed by Japan, with a 4.7% share.

From 2012 to 2021, the average annual growth rate of value to Russia amounted to +17.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (+31.7% per year) and Japan (0.0% per year).

Export Prices by Country

The average phenolic resins export price stood at $X per ton in 2021, rising by 348% against the previous year. In general, the export price recorded a significant increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Serbia ($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 Portugal (+24.9%), while the prices for the other major destinations experienced more modest paces of growth.

Phenolic Resins Imports

Imports into Slovakia

In 2021, purchases abroad of phenolic resins in primary forms was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. In general, imports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2016 with an increase of 127%. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, phenolic resins imports soared to $X in 2021. Over the period under review, total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 43% against the previous year. Imports peaked in 2021 and are likely to see steady growth in years to come.

Imports by Country

In 2021, Poland (X tons) constituted the largest supplier of phenolic resins to Slovakia, with a 69% share of total imports. Moreover, phenolic resins imports from Poland exceeded the figures recorded by the second-largest supplier, Belgium (X tons), sixfold. Germany (X tons) ranked third in terms of total imports with a 7.2% share.

From 2012 to 2021, the average annual growth rate of volume from Poland amounted to +15.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+4.5% per year) and Germany (+24.4% per year).

In value terms, Poland ($X), China ($X) and Germany ($X) appeared to be the largest phenolic resins suppliers to Slovakia, together accounting for 80% of total imports.

Among the main suppliers, China, with a CAGR of +167.2%, saw the highest growth rate of 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, declining by -17.7% against the previous year. In general, the import price saw a perceptible decrease. The most prominent rate of growth was recorded in 2019 when the average import price increased by 36%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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 China ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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