United Arab Emirates: Phenolic Resins Market 2024

Phenolic Resins Market Size in the United Arab Emirates

The phenolic resins market in the United Arab Emirates surged to $X in 2021, increasing by 75% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded prominent growth. Phenolic resins consumption peaked in 2021 and is expected to retain growth in years to come.

Phenolic Resins Exports

Exports from the United Arab Emirates

In 2021, shipments abroad of phenolic resins in primary forms increased by 8.4% to X tons, rising for the third consecutive year after two years of decline. In general, exports showed a temperate increase. The growth pace was the most rapid in 2015 with an increase of 36%. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, phenolic resins exports skyrocketed to $X in 2021. Over the period under review, exports posted a pronounced increase. The pace of growth appeared the most rapid in 2013 with an increase of 82%. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Oman (X tons), the United States (X tons) and Tanzania (X tons) were the main destinations of phenolic resins exports from the United Arab Emirates, together accounting for 87% of total exports. These countries were followed by Nigeria and Congo, which together accounted for a further 8.5%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Nigeria (with a CAGR of +122.7%), while the other leaders experienced more modest paces of growth.

In value terms, Oman ($X) remains the key foreign market for phenolic resins in primary forms exports from the United Arab Emirates, comprising 44% of total exports. The second position in the ranking was held by the United States ($X), with a 15% share of total exports. It was followed by Tanzania, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Oman amounted to -4.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (0.0% per year) and Tanzania (+13.0% per year).

Export Prices by Country

The average phenolic resins export price stood at $X per ton in 2021, rising by 10% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 34%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Congo ($X per ton), while the average price for exports to the United States ($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 Congo (+0.5%), while the prices for the other major destinations experienced a decline.

Phenolic Resins Imports

Imports into the United Arab Emirates

Phenolic resins imports into the United Arab Emirates skyrocketed to X tons in 2021, with an increase of 44% against 2020 figures. Overall, imports posted strong growth. The growth pace was the most rapid in 2019 when imports increased by 56%. Imports peaked in 2021 and are likely to continue growth in years to come.

In value terms, phenolic resins imports soared to $X in 2021. Over the period under review, total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +8.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

India (X tons), Italy (X tons) and China (X tons) were the main suppliers of phenolic resins imports to the United Arab Emirates, with a combined 54% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +136.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Italy ($X) and China ($X) constituted the largest phenolic resins suppliers to the United Arab Emirates, together accounting for 45% of total imports.

In terms of the main suppliers, Italy, with a CAGR of +86.0%, saw 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, increasing by 15% against the previous year. Overall, the import price, however, recorded a slight slump. The pace of growth appeared the most rapid in 2017 an increase of 22% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+2.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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