Ukraine: Phenolic Resins Market 2024

Phenolic Resins Market Size in Ukraine

In 2021, after two years of decline, there was significant growth in the Ukrainian phenolic resins market, when its value increased by 22% to $X. Overall, consumption, however, recorded a relatively flat trend pattern. Phenolic resins consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Phenolic Resins Production in Ukraine

In value terms, phenolic resins production expanded significantly to $X in 2021 estimated in export price. Over the period under review, production saw a abrupt contraction. The pace of growth appeared the most rapid in 2017 when the production volume increased by 61%. Phenolic resins production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Phenolic Resins Exports

Exports from Ukraine

In 2021, shipments abroad of phenolic resins in primary forms decreased by -9.9% to X tons, falling for the third year in a row after two years of growth. Overall, exports saw a pronounced decline. The most prominent rate of growth was recorded in 2013 when exports increased by 38%. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, phenolic resins exports contracted modestly to $X in 2021. Over the period under review, exports showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 57%. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Russia (X tons) was the main destination for phenolic resins exports from Ukraine, with a 81% share of total exports. Moreover, phenolic resins exports to Russia exceeded the volume sent to the second major destination, Georgia (X tons), sixfold. Latvia (X tons) ranked third in terms of total exports with a 4% share.

From 2012 to 2021, the average annual growth rate of volume to Russia stood at -1.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Georgia (-8.5% per year) and Latvia (-0.8% per year).

In value terms, Russia ($X) remains the key foreign market for phenolic resins in primary forms exports from Ukraine, comprising 75% of total exports. The second position in the ranking was taken by Georgia ($X), with a 19% share of total exports. It was followed by Latvia, with a 4.4% share.

From 2012 to 2021, the average annual growth rate of value to Russia stood at -5.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Georgia (-7.6% per year) and Latvia (-3.8% per year).

Export Prices by Country

The average phenolic resins export price stood at $X per ton in 2021, picking up by 7.3% against the previous year. Overall, the export price, however, saw a pronounced downturn. The pace of growth was the most pronounced in 2017 when the average export price increased by 19% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Georgia ($X per ton), while the average price for exports to Uzbekistan ($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 Georgia (+1.0%), while the prices for the other major destinations experienced a decline.

Phenolic Resins Imports

Imports into Ukraine

Phenolic resins imports into Ukraine rose slightly to X tons in 2021, with an increase of 4.6% against the year before. In general, imports, however, saw a mild shrinkage. The most prominent rate of growth was recorded in 2015 when imports increased by 15%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, phenolic resins imports surged to $X in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by 32% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Poland (X tons), Russia (X tons) and Belarus (X tons) were the main suppliers of phenolic resins imports to Ukraine, with a combined 92% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belarus (with a CAGR of +16.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest phenolic resins suppliers to Ukraine were Poland ($X), Russia ($X) and Germany ($X), together accounting for 86% of total imports. Belarus and China lagged somewhat behind, together comprising a further 6.7%.

Among the main suppliers, Belarus, with a CAGR of +28.8%, 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 average phenolic resins import price amounted to $X per ton, growing by 24% against the previous year. In general, import price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 an increase of 29%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belarus (+10.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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