U.S.: Phenolic Resins Market 2024

Phenolic Resins Market Size in the U.S.

The U.S. phenolic resins market dropped to $X in 2021, with a decrease of -10.4% against the previous year. The market value increased at an average annual rate of +1.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X, and then shrank in the following year.

Phenolic Resins Production in the U.S.

In value terms, phenolic resins production shrank to $X in 2021. The total output value increased at an average annual rate of +2.0% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 with an increase of 15% against the previous year. As a result, production attained the peak level of $X, and then contracted in the following year.

Phenolic Resins Exports

Exports from the U.S.

In 2021, the amount of phenolic resins in primary forms exported from the United States skyrocketed to X tons, picking up by 28% against the previous year's figure. Over the period under review, total exports indicated buoyant growth 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. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, phenolic resins exports soared to $X in 2021. Overall, exports showed a relatively flat trend pattern. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Canada (X tons) was the main destination for phenolic resins exports from the United States, with a 72% share of total exports. Moreover, phenolic resins exports to Canada exceeded the volume sent to the second major destination, Mexico (X tons), sixfold.

From 2012 to 2021, the average annual growth rate of volume to Canada stood at +10.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+0.1% per year) and China (-4.5% per year).

In value terms, Canada ($X) remains the key foreign market for phenolic resins in primary forms exports from the United States, comprising 39% of total exports. The second position in the ranking was taken by Mexico ($X), with a 19% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Canada stood at +6.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-0.2% per year) and China (-2.3% per year).

Export Prices by Country

The average phenolic resins export price stood at $X per ton in 2021, rising by 3.7% against the previous year. Over the period under review, the export price, however, continues to indicate a noticeable decrease. The pace of growth was the most pronounced in 2013 when the average export price increased by 17%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices failed to regain momentum.

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 China ($X per ton), while the average price for exports to Canada ($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 China (+2.3%), while the prices for the other major destinations experienced a decline.

Phenolic Resins Imports

Imports into the U.S.

In 2021, approx. X tons of phenolic resins in primary forms were imported into the United States; picking up by 22% on 2020. Over the period under review, imports, however, showed a mild curtailment. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, phenolic resins imports surged to $X in 2021. Overall, imports, however, saw a mild shrinkage. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Canada (X tons) constituted the largest supplier of phenolic resins to the United States, with a 71% share of total imports. Moreover, phenolic resins imports from Canada exceeded the figures recorded by the second-largest supplier, Singapore (X tons), eightfold. Brazil (X tons) ranked third in terms of total imports with a 5.5% share.

From 2012 to 2021, the average annual growth rate of volume from Canada stood at -2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+68.5% per year) and Brazil (+29.4% per year).

In value terms, Canada ($X) constituted the largest supplier of phenolic resins in primary forms to the United States, comprising 51% of total imports. The second position in the ranking was held by Singapore ($X), with an 11% share of total imports. It was followed by Germany, with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Canada amounted to -2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+57.5% per year) and Germany (-3.4% per year).

Import Prices by Country

The average phenolic resins import price stood at $X per ton in 2021, growing by 13% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the average import price increased by 26%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a lower figure.

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 Japan ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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