Phenolic Resin Price Trend and Forecast

Regional Market Overview

Get the latest insights on price movement and trend analysis of Phenolic Resin in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Phenolic Resin Price Trend for the October - December of 2023

Asia

Phenolic resin or Phenol Formaldehyde resin prices usually follow the market trend of its feedstock materials very closely. During the given period of the fourth quarter of the year 2023, the phenolic resin prices showed consistent fluctuations mimicking the variations in their raw materials, formaldehyde, and phenol markets.

Phenolic Resin Price Chart

Phenolic Resin Price Trends and Forecast

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Occasional spikes in demand from downstream industries like coating, adhesives, rubber, and automobiles pushed the market upwards, while the high inventory levels countered the ongoing trend. Relatively, the first half of the quarter performed better than the latter, as the second half of the quarter saw fewer industrial activities because of the holiday season.

Europe

The European Phenolic Resin market was witnessed to be fluctuating for the majority of the discussed period. Other than the slowdown in the feedstock phenol and formaldehyde markets, the decline in international trade also influenced the market here. The freight issues owing to the recent Israel-Hamas war caused the downstream demands to witness unprecedented lows. Overall, weak market trend were observed.

North America

The North American market performance for Phenolic Resin was comparatively better than its European counterparts. The prices started strong at the beginning of the quarter since the impending holiday season at the year's end fuelled up the industrial activities. However, the markets slowed down in the second half; the general market sentiments were largely mixed.

Analyst Insight

According to Procurement Resource, the market projections for Phenolic Resin are likely to remain oscillating in the coming months, given the current demands and pricing fundamentals.

Phenolic Resin Price Trend for the July-September of 2023

Asia

Throughout the third quarter, the phenolic resin prices bore a bearish trajectory as the support from the upstream products remained feeble throughout the third quarter. The phenolic resin price trend also struggled with the slowing down of economic recovery in China, which in turn proved fatal for the automotive and construction industries. In addition to this, the sliding cost of feedstock materials also had an adverse effect on the phenolic resin price graph.

Europe

The inflation in European countries played a major role in dictating the trajectory of the phenolic resin price graph. The phenolic resin market suffered from lowering demand from the end-user. Particularly paints and coatings sector performed poorly during the third quarter of 2023 and thus pushed the phenolic resin price trend in the negative zone. Further, consumer confidence in the phenolic resin market also slid on account of the depreciating value of the European economy. The traders also struggled with the lowering of the cost of production due to which the traders had to reduce their price quotations, hampering the phenolic resin prices.

North America

The adhesives and coatings sector was able to maintain a stable demand for phenolic resin, which somehow supported the market in the initial days of the third quarter. However, the cost of feedstock materials and rates of procurement from the downstream industries fell gradually during the quarter. The level of inventories was sufficient as compared to the muted demand for phenolic resins, forcing the manufacturers to slow down their production rates.

Analyst Insight

According to Procurement Resource, the price trend of Phenolic Resin are estimated to move southwards in the upcoming months due to the poor scenario of global demand for phenolic resin and the weak performance of the economy worldwide.

Phenolic Resin Price Trend for the First Half of 2023

Asia

The phenolic resin market in the first two quarters declined in the Asia Pacific region as the demand from the downstream sector moved southwards, with a notable decline in the number of new inquiries. In addition to this, the feedstock market, along with the upstream industries, provided weak support. The falling energy costs and the global slowing down of the economy also caused the price trend of phenolic resin to fall in H1’2023.

Europe

A gradually falling trajectory of the prices of phenolic resin was observed in the European region. The market in this region suffered from the consistently falling energy costs and reduction in support from the feedstock market. Additionally, the demand from the end-user industries and the drop in the market activities of the adhesives, coatings, and insulation sectors caused the trend of phenolic resin to move southwards.

North America

In North America, the price trend of phenolic resin fluctuated throughout the first and second quarters of 2023. The major influencing factors in determining the direction of the phenolic resin market were the cost of feedstock materials and demand from the downstream sectors. The rising cost of feedstocks supported the trend of phenolic resin, but the stable demand from the downstream industries was countered by the sufficient availability of the product in the region. In addition, the manufacturing sector reduced its activities, impacting the phenolic resin market negatively.

Analyst Insight

According to Procurement Resource, the price trend of phenolic resin is estimated to showcase a volatile trend as the feedstock prices and demand from the end-user industries are estimated to fluctuate.

Procurement Resource provides latest prices of Phenolic Resin. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.

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About

A synthetic polymer called phenolic resin is produced when phenol reacts with an aldehyde, usually formaldehyde. It is appropriate for a wide range of applications as it has outstanding heat and chemical resistance. They are frequently used in the production of molded goods, including kitchenware, circuit boards, electrical components, and automobile parts. Because of their powerful bonding abilities, they are also utilized as binders, varnishes, and adhesives. Due to its durability and flame-retardant properties, phenolic resins are also used in consumer products, construction, and aerospace industries.

Product Details

Report Features Details
Product Name Phenolic Resin
Synonyms Phenol-formaldehyde resins, PF resins
Industrial Uses Aerospace and defense, Rubber industry, Wood-based products, Filtrations, Coatings and adhesives, Automotive industries
HS Code 39094000
CAS Number 9003-35-4
Supplier Database Hexcel Corporation, Bakelite Synthetics, Ashland Global Holdings Inc, BASF SE, Akrochem Corporation, Georgia- Pacific Chemicals, Kraton Corporation
Region/Countries Covered Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, 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

Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes
Customization Scope The report can be customized as per the requirements of  the customer
Post-Sale Analyst Support 360-degree analyst support after report delivery


Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.

Production Processes

The mixture of phenol and formaldehyde are stirred and heated till 60°C and then the reaction undergoes refluxing till around 98°C. This mixture is then added to methanol for dilution once the water has been removed from the vessel base and as a result, phenolic resin is produced as the final product.

Methodology

The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).

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