United Kingdom: Polyphenols And Phenol-Alcohols Market 2024

Polyphenols And Phenol-Alcohols Market Size in the UK

The UK polyphenols and phenol-alcohols market contracted to $X in 2022, with a decrease of -11.2% against the previous year. Overall, the total consumption indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +34.0% against 2020 indices. As a result, consumption reached the peak level of $X, and then shrank in the following year.

Polyphenols And Phenol-Alcohols Production in the UK

In value terms, polyphenols and phenol-alcohols production stood at $X in 2022 estimated in export price. Over the period under review, production, however, saw a abrupt decline. The growth pace was the most rapid in 2018 when the production volume increased by 127%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Polyphenols And Phenol-Alcohols Exports

Exports from the UK

In 2022, the amount of polyphenols and phenol-alcohols exported from the UK contracted rapidly to X tons, declining by -16.1% compared with 2021. Overall, exports showed a deep slump. The most prominent rate of growth was recorded in 2017 with an increase of 37% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, polyphenols and phenol-alcohols exports rose notably to $X in 2022. Over the period under review, total exports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 with an increase of 24% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Brazil (X tons), Belgium (X tons) and Canada (X tons) were the main destinations of polyphenols and phenol-alcohols exports from the UK, with a combined 56% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of +107.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for polyphenols and phenol-alcohols exported from the UK were Brazil ($X), Canada ($X) and the United States ($X), with a combined 75% share of total exports.

Canada, with a CAGR of +116.7%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average polyphenols and phenol-alcohols export price amounted to $X per ton, surging by 33% against the previous year. In general, the export price saw prominent growth. The most prominent rate of growth was recorded in 2021 when the average export price increased by 75%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+17.0%), while the prices for the other major destinations experienced more modest paces of growth.

Polyphenols And Phenol-Alcohols Imports

Imports into the UK

In 2022, approx. X tons of polyphenols and phenol-alcohols were imported into the UK; falling by -25.6% compared with 2021 figures. In general, imports continue to indicate a mild decrease. The most prominent rate of growth was recorded in 2019 when imports increased by 23% against the previous year. Imports peaked at X tons in 2021, and then declined dramatically in the following year.

In value terms, polyphenols and phenol-alcohols imports dropped to $X in 2022. The total import value increased at an average annual rate of +3.3% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 40%. As a result, imports reached the peak of $X, and then dropped in the following year.

Imports by Country

In 2022, Japan (X tons) constituted the largest polyphenols and phenol-alcohols supplier to the UK, accounting for a 41% share of total imports. Moreover, polyphenols and phenol-alcohols imports from Japan exceeded the figures recorded by the second-largest supplier, France (X tons), twofold. The United States (X tons) ranked third in terms of total imports with a 17% share.

From 2012 to 2022, the average annual growth rate of volume from Japan totaled -4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-4.0% per year) and the United States (+19.8% per year).

In value terms, the largest polyphenols and phenol-alcohols suppliers to the UK were Japan ($X), the United States ($X) and France ($X), with a combined 69% share of total imports. Ireland, Germany, South Korea, Belgium, Italy and the Netherlands lagged somewhat behind, together comprising a further 16%.

Ireland, with a CAGR of +189.6%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average polyphenols and phenol-alcohols import price amounted to $X per ton, surging by 24% against the previous year. In general, import price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, polyphenols and phenol-alcohols import price increased by +32.1% against 2018 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+11.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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