Phenolic resins in primary forms market in Belgium

Earlier Report Observations

From 2018 to 2024, Belgium's trade in phenolic resins in primary forms underwent notable shifts. Imports declined from 8 207 tonnes in 2018 to 5 234 tonnes in 2020, then rebounded sharply to reach 9 924 tonnes by 2023 before falling back to 8 174 tonnes in 2024. Over the same period, exports trended downward, starting at 49 455 tonnes in 2018 and falling to 32 666 tonnes in 2024, despite a temporary recovery in 2021.

Available production data from 2022 onward shows output decreased from 42 453 tonnes in 2022 to 34 464 tonnes in 2023, stabilizing at 34 662 tonnes in 2024. The domestic market volume followed a similar pattern, growing from 10 859 tonnes in 2022 to 11 941 tonnes in 2023 before contracting to 10 170 tonnes in 2024.

In value terms, the market size expanded from 26.7 million US dollars in 2022 to 37.5 million in 2023, then moderated to 35.8 million in 2024. Production value mirrored this movement, declining from 140.4 million in 2022 to 124.5 million in 2023 before a partial recovery to 128.5 million in 2024.

Production phenolic resins in primary forms in Belgium

According to Faostat, there is no production of phenolic resins in primary forms in Belgium.

Exports phenolic resins in primary forms from Belgium

Exports in kind, t

Belgium's exports of phenolic resins in primary forms declined for the third consecutive year. In 2020, exports reached 40 638 tonnes, marking a significant 16.0% decrease compared to the previous year. Over the period from 2017 to 2020, exports fell by 20.5%, with a compound annual growth rate of -7.4%.

Annual dynamics of product's exports from Belgium in kind, 2017-2020, t

From 2017 to 2020, Belgium's exports of phenolic resins in primary forms were distributed across a wide range of partner countries. The Netherlands accounted for 23.9% of exports, Germany for 16.1%, and Romania for 5.3%. Together, these three countries represented just 45.3% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Belgium in kind, 2017-2020

Exports in value, M $ US

Belgium's exports of phenolic resins in primary forms declined for the second consecutive year. In 2020, exports amounted to 110.6 million US dollars, reflecting a 16.7% drop compared to the previous year. Over the 2017-2020 period, exports decreased by 13.6%, with a compound annual growth rate of -4.7%. The peak value was recorded in 2018 at 144.0 million US dollars, which also saw the largest annual increase of 12.5%.

Annual dynamics of product's exports from Belgium in value, 2017-2020, M $ US

The market base for Belgium's exports in value terms from 2017 to 2020 was broad. Germany accounted for 21.2% of export value, the Netherlands for 14.9%, and Italy for 5.7%. Collectively, these three countries represented just 41.8% of total flows, with the remaining 58.2% shared among numerous other nations.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Belgium in value, 2017-2020

Imports phenolic resins in primary forms to Belgium

Imports in kind, t

Belgium's imports of phenolic resins in primary forms declined for the third consecutive year. In 2020, imports totaled 40 638 tonnes, showing a substantial 15.5% decrease compared to the previous year. Between 2017 and 2020, imports fell by 79.6%, equating to an annualized decline rate of 41.1%.

Annual dynamics of product's imports to Belgium in kind, 2017-2020, t

From 2017 to 2020, three key markets dominated Belgium's imports of phenolic resins in primary forms: the United States, Spain, and Austria. Together, they accounted for 81.5% of total import volumes.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Belgium in kind, 2017-2020

Imports in value, M $ US

Belgium's imports of phenolic resins in primary forms declined for the third consecutive year. In 2020, imports amounted to 110.6 million US dollars, which is 23.2% lower than the previous year. Between 2017 and 2020, imports decreased by 79.6%, representing an annualized decline rate of 41.2%.

Annual dynamics of product's imports to Belgium in value, 2017-2020, M $ US

From 2017 to 2020, the United States, Spain, and Austria were the primary sources for Belgium's imports of phenolic resins in primary forms in value terms. The United States accounted for 38.5% of import value, Spain for 23.7%, and Austria for 8.9%. Combined, these three countries represented 71.1% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Belgium in value, 2017-2020