South-Eastern Asia: Phenolic Resins Market 2024

Phenolic Resins Market Size in South-Eastern Asia

The Southeast Asian phenolic resins market reached $X in 2021, increasing by 3.9% against the previous year. Overall, consumption, however, showed a noticeable contraction. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Phenolic Resins Production in South-Eastern Asia

In value terms, phenolic resins production reached $X in 2021 estimated in export price. In general, production, however, continues to indicate a perceptible downturn. The growth pace was the most rapid in 2018 when the production volume increased by 15% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Phenolic Resins Exports

Exports in South-Eastern Asia

In 2021, the amount of phenolic resins in primary forms exported in South-Eastern Asia soared to X tons, growing by 29% against 2020. Total exports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +32.6% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, phenolic resins exports soared to $X in 2021. The total export value increased at an average annual rate of +4.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Singapore prevails in exports structure, resulting at X tons, which was approx. 71% of total exports in 2021. Indonesia (X tons) took the second position in the ranking, followed by Malaysia (X tons) and Thailand (X tons). All these countries together held near 25% share of total exports. Vietnam (X tons) held a minor share of total exports.

Exports from Singapore increased at an average annual rate of +7.2% from 2012 to 2021. At the same time, Vietnam (+8.7%) and Thailand (+5.7%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +8.7% from 2012-2021. Indonesia experienced a relatively flat trend pattern. By contrast, Malaysia (-2.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Singapore increased by +12 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) remains the largest phenolic resins supplier in South-Eastern Asia, comprising 71% of total exports. The second position in the ranking was held by Thailand ($X), with an 11% share of total exports. It was followed by Indonesia, with an 8.5% share.

From 2012 to 2021, the average annual growth rate of value in Singapore stood at +6.4%. In the other countries, the average annual rates were as follows: Thailand (+5.6% per year) and Indonesia (-2.1% per year).

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, stabilizing at the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 8.8% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+2.9%), while the other leaders experienced a decline in the export price figures.

Phenolic Resins Imports

Imports in South-Eastern Asia

Phenolic resins imports soared to X tons in 2021, picking up by 16% against the previous year's figure. The total import volume increased at an average annual rate of +2.7% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. As a result, imports reached the peak and are likely to continue 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 +2.1% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the six major importers of phenolic resins in primary forms, namely Thailand, Indonesia, Vietnam, Malaysia, Singapore and Cambodia, represented more than two-thirds of total import. It was distantly followed by the Philippines (X tons), generating a 4.5% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Cambodia (with a CAGR of +27.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Indonesia ($X) and Vietnam ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 65% of total imports. These countries were followed by Malaysia, Singapore, the Philippines and Cambodia, which together accounted for a further 35%.

In terms of the main importing countries, Cambodia, with a CAGR of +28.6%, recorded 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

In 2021, the import price in South-Eastern Asia amounted to $X per ton, rising by 11% against the previous year. Overall, the import price, however, 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.

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 Philippines ($X per ton), while Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+2.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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