Sweden: Phenolic Resins Market 2024

Phenolic Resins Market Size in Sweden

The Swedish phenolic resins market skyrocketed to $X in 2021, picking up by 21% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. Phenolic resins consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Phenolic Resins Production in Sweden

In value terms, phenolic resins production expanded markedly to $X in 2021 estimated in export price. Over the period under review, the total production indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -11.5% against 2019 indices. The growth pace was the most rapid in 2016 when the production volume increased by 65% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Phenolic Resins Exports

Exports from Sweden

After two years of decline, shipments abroad of phenolic resins in primary forms increased by 1.4% to X tons in 2021. In general, total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +9.0% 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 decreased by -23.1% against 2018 indices. The growth pace was the most rapid in 2013 with an increase of 94%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, phenolic resins exports soared to $X in 2021. Overall, total exports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when exports increased by 48% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Norway (X tons), Denmark (X tons) and Germany (X tons) were the main destinations of phenolic resins exports from Sweden, together comprising 83% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Denmark (with a CAGR of +42.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for phenolic resins exported from Sweden were Germany ($X), Norway ($X) and Denmark ($X), with a combined 65% share of total exports.

In terms of the main countries of destination, Denmark, with a CAGR of +31.2%, saw the highest growth rate of the value of exports, 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, jumping by 31% against the previous year. In general, the export price, however, saw a perceptible decrease. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Finland ($X per ton), while the average price for exports to Denmark ($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 Poland (+7.1%), while the prices for the other major destinations experienced mixed trend patterns.

Phenolic Resins Imports

Imports into Sweden

Phenolic resins imports into Sweden rose sharply to X tons in 2021, increasing by 9.4% on the previous year's figure. The total import volume increased at an average annual rate of +1.5% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 11% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, phenolic resins imports surged to $X in 2021. The total import value increased at an average annual rate of +2.1% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Finland (X tons) constituted the largest supplier of phenolic resins to Sweden, with a 65% share of total imports. Moreover, phenolic resins imports from Finland exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. The third position in this ranking was taken by Norway (X tons), with an 8.4% share.

From 2012 to 2021, the average annual growth rate of volume from Finland stood at +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+14.1% per year) and Norway (+0.4% per year).

In value terms, the largest phenolic resins suppliers to Sweden were Finland ($X), Italy ($X) and Norway ($X), with a combined 84% share of total imports. Germany, Austria and Portugal lagged somewhat behind, together accounting for a further 8.1%.

In terms of the main suppliers, Portugal, with a CAGR of +123.3%, 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

In 2021, the average phenolic resins import price amounted to $X per ton, with an increase of 34% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. 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 Germany ($X per ton), while the price for Finland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Portugal (+5.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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