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Phenolic Resin Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data
Report Format: PDF+Excel | Report ID: SR112024A22398
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Phenolic Resin Prices December 2023
|
Product
|
Category | Region | Price |
|---|---|---|---|
| Phenolic Resin | Polymer & Resin | USA | 3105 USD/MT |
| Phenolic Resin | Polymer & Resin | China | 1321 USD/MT |
| Phenolic Resin | Polymer & Resin | Belgium | 3415 USD/MT |
The phenolic resin prices in the USA for Q4 2023 reached 3105 USD/MT in December. The country saw a bearish trend due to ample supply and reduced demand in sectors like adhesives and coatings. Weak support from feedstock industries and high stock levels further pressured prices, leading to a challenging market environment.
China's market was bearish, driven by weak consumption in industries like construction and automotive. Ample supply and sluggish consumer inquiries led to inventory buildup, impacting market sentiment and leading to subdued transactions and lower prices. The price trend for phenolic resin in China for Q4 2023 concluded at 1321 USD/MT in December.
In Q4 2023, Belgium's phenolic resin market experienced a significant price drop reaching 3415 USD/MT in December. The bearish trend was influenced by sluggish requirements and reduced manufacturing activity, leading to lower consumption rates and a notable fall in resin prices compared to the last quarter.
Phenolic Resin Price Trend, Market Analysis, and News
IMARC’s newly published report, titled “Phenolic Resin Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of phenolic resin pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.
It encompasses an in-depth review of spot price of phenolic resin at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of phenolic resin price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.
The report examines the elements influencing phenolic resin price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.
Phenolic Resin Market Analysis
The global phenolic resin market size reached US$ 15.5 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 23.2 Billion, at a projected CAGR of 4.50% during 2023-2032.
- Phenolic resins are highly favored because of their excellent properties which include fire resistance, high elasticity, surface hardness, chemical resistance, and electrical insulation which makes them ideal for various applications in various industries.
- The gradual growth in construction activities across the globe is further propelling the demand for phenolic resins as they are essential in various applications like adhesives, insulation, coatings, laminates, and molding. According to the European Phenolic Resins Association, the European Union aimed to achieve an energy efficiency target of 20% energy savings by 2020 and 27% by 2030. By replacing traditional building materials with phenolic raisins this target could be approached. Overall, the potential to achieve energy savings is the highest in the residential sector, which accounts for 40% of the EU's final energy consumption and 35% of its greenhouse emissions.
- The rise in awareness about the benefits of phenolic resins in reducing emissions and enhancing durability has also contributed significantly to the market growth because of new stringent environmental regulations and the push for the adoption of eco-friendly formulations.
- The rising focus of various industries on producing phenolic resins which have lower emissions and reduce environmental impact as well as comply with stringent environmental regulations is another driving force that shapes the phenolic resin market.
- Manufacturers are actively engaged in continuous innovation to address the growing environmental concerns while meeting the evolving consumer requirements and staying consistent and competitive in the market at the same time. For instance, in March 2024, DIC Corporation announced that subsidiary IDEAL CHEMI PLAST PRIVATE LTD., based in the Indian state of Maharashtra, opened, and commenced operations at a new production facility for coating reasons for automotive and infrastructure applications in the states super Japanese Industrial Zone in February 2024. The new facility has tripled IDEAL CHEMI PLAST’s production capacity for coating resins, positioning it to expand this business in India and across South Asia, as well as in the Middle East.
Phenolic Resin News
The report covers the latest developments, updates, and trends impacting the global phenolic resin market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in phenolic resin production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the phenolic resin price trend.
Latest developments in the phenolic resin industry:
- In 2023, Stora Enso and Kolon Industries signed a joint development agreement to develop bio-based polyesters and renewable binder resin formulations for various applications including packaging, car tire reinforcements, and electronics. The development work will combine Stora Enso's proprietary process and expertise in packaging with Kolon Industries' expertise in polyester and phenolic resin development.
- In 2022, Bakelite Synthetics introduced BREAKTHRU technology, which is intended to significantly reduce free formaldehyde content in phenolic resins.
Product Description
Phenolic resin is a kind of synthetic polymer that is produced by the reaction of phenol along with formaldehyde. Phenolic resin is generally known for its unique properties, it offers high heat resistance, chemical resistance, mechanical strength, and flame retardancy which makes it a highly sought-after product in various industrial applications across the world. Phenolic resins are mainly used in industries like automotive, aerospace, construction, consumer goods, and electronics because of their versatility and reliability. Along with applications ranging from brake pads and clutch facings in the automotive sector to printed circuit boards and electrical laminates in the electronic industry, phenolic resin plays an important role in providing durability, insulation, and fire resistance across a wide array of products and materials.
Regional Coverage
The report provides a detailed analysis of the phenolic resin market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the phenolic resin price trend.
Global Phenolic Resin Price
The report offers a holistic view of the global phenolic resin pricing trends in the form of phenolic resin price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights the current price but also provides insights into phenolic resin historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.
The report also delves into phenolic resin price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed phenolic resin demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.
Europe Phenolic Resin Price
Europe was influenced by declining prices and reduced demand for phenolic resin. The market's bearish outlook was primarily due to subdued production activities and a decrease in import rates, which led to lower domestic consumption and less international demand. In Belgium, the market prices showed a substantial reduction, highlighting the broader market's downtrend. This drop was influenced by weak upstream cost support and a lack of momentum in the production sector. The overall sentiment in Europe remained cautious, reflecting subdued market dynamics.
This analysis can be extended to include detailed phenolic resin price information for a comprehensive list of countries.
| Region | Countries Covered |
|---|---|
| Europe | Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal, and Greece, among other European countries. |
North America Phenolic Resin Price
In Q4 2023, the North American phenolic resin market experienced a downturn as a result of reduced requirements from key sectors like coatings and adhesives. Domestic accessibility of materials was ample, causing prices to drop, especially in the USA. This bearish trend was exacerbated by a lack of support from feedstock materials like formaldehyde and phenol, coupled with high stock levels. A slowdown in purchasing and consumer destocking also played roles in the declining market conditions. Overall, the market was marked by significant price decreases, reflecting a challenging environment for suppliers.
Specific phenolic resin historical data within the United States and Canada can also be provided.
| Region | Countries Covered |
|---|---|
| North America | United States and Canada |
Middle East and Africa Phenolic Resin Price
The report explores the phenolic resin pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.
In addition to region-wise data, information on phenolic resin prices for countries can also be provided.
| Region | Countries Covered |
|---|---|
| Middle East and Africa | Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco, among other Middle Eastern and African countries. |
Asia Pacific Phenolic Resin Price
During Q4 2023, the Asia Pacific region saw a bearish trend, primarily driven by weak demand in the construction and automotive sectors. Ample supply and sluggish downstream inquiries led to a buildup of stocks, influencing market sentiment. Besides this, diminished requirements across sectors like circuit boards, molding powder, and adhesives further dampened consumption rates. Business activities were also subdued with no notable supply chain issues affecting the market. Overall, the Asia Pacific market saw limited transactions and reduced activity levels during this period.
This phenolic resin price analysis can be expanded to include a comprehensive list of countries within the region.
| Region | Countries Covered |
|---|---|
| Asia Pacific | China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand, among other Asian countries. |
Latin America Phenolic Resin Price
The analysis of phenolic resin prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.
This comprehensive review can be extended to include specific countries within the region.
| Region | Countries Covered |
|---|---|
| Latin America | Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru, among other Latin American countries. |
Report Coverage
| Key Attributes | Details |
|---|---|
| Product Name | Phenolic Resin |
| Report Features | Exploration of Historical Trends and Market Outlook, Industry Demand, Industry Supply, Gap Analysis, Challenges, Phenolic Resin Price Analysis, and Segment-Wise Assessment. |
| Currency/Units | US$ (Data can also be provided in local currency) or Metric Tons |
| Region/Countries Covered | The current coverage includes analysis at the global and regional levels only. Based on your requirements, we can also customize the report and provide specific information for the following countries: Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand* Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece* North America: United States and Canada Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru* Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco* *The list of countries presented is not exhaustive. Information on additional countries can be provided if required by the client. |
| Information Covered for Key Suppliers |
|
| Customization Scope | The report can be customized as per the requirements of the customer |
| Report Price and Purchase Option |
Plan A: Monthly Updates - Annual Subscription
Plan B: Quarterly Updates - Annual Subscription
Plan C: Biannually Updates - Annual Subscription
|
| Post-Sale Analyst Support | 360-degree analyst support after report delivery |
| Delivery Format | PDF and Excel through email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Benefits for Stakeholders:
- IMARC’s report presents a detailed analysis of phenolic resin pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
- The study examines factors affecting phenolic resin price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
- The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
- IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The phenolic resin price charts ensure our clients remain at the forefront of the industry.
Need more help?
- Speak to our experienced analysts for insights on the current market scenarios.
- Include additional segments and countries to customize the report as per your requirement.
- Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
- For further assistance, please connect with our analysts.
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