Phenolic resins in primary forms market in Germany

Earlier Report Observations

The market for phenolic resins in primary forms in Germany saw a significant peak in 2021, with physical volume reaching 230.6 thousand tons and value rising to 344.9 million USD. This followed a period of relative stability in volume between 2019 and 2020, though market value declined during those years.

From 2022, market volume began to contract, falling to 214.0 thousand tons in 2022 and 189.6 thousand tons in 2024. In value terms, 2022 recorded an increase to 369.0 million USD before a drop to 296.7 million USD in 2024. During this phase, the 2023 introduction of low-emission phenolic resins by Hexion Inc., which cut formaldehyde emissions by over 42%, spurred demand in wood adhesive applications by more than 37%. Concurrently, DIC Corporation's launch of a lignin-based bio-based resin gained acceptance in the insulation and construction sector. These demand-side developments were counterbalanced by raw material cost fluctuations that raised production expenses by 11–17% in 2023, compressing manufacturer profitability and complicating logistics.

Industry activity in 2024 featured capacity expansion and innovation, with Sumitomo Bakelite increasing its production capacity for phenolic molding compounds by 28% to serve automotive and electronics demand, and Mitsui Chemicals opening a new center for advanced applications. Sustained demand from the automotive, construction, and electronics sectors provided underlying support, although global crude oil price volatility affected raw material procurement for a large share of producers.

Production phenolic resins in primary forms in Germany

In value, 2017-2020, M $ US

Germany's production of phenolic resins in primary forms declined for the second consecutive year. In 2020, output was valued at 317.2 million US dollars, marking a slight decrease of 2.1% compared to 2019. Over the period from 2018 to 2020, production fell by 4%, with a compound annual growth rate of 1.3%.

Annual dynamics of production in Germany in value, 2017-2020, M $ US

In kind, 2017-2020, K t

In 2020, Germany produced 214.9 thousand tonnes of phenolic resins in primary forms, representing a 2.3% increase compared to 2019.

Annual dynamics of production in Germany in kind, 2017-2020, K t

Exports phenolic resins in primary forms from Germany

Exports in kind, t

Germany's exports of phenolic resins in primary forms increased for the second consecutive year. In 2020, the country exported 90 251 tonnes, showing a modest improvement of 1.6% from 2019. Over the period from 2017 to 2020, exports decreased by 9.1%, with a compound annual growth rate of 3.1%. The lowest export volume was recorded in 2018 at 86 562 tonnes. The largest decline occurred in 2018, with a drop of 12.8%, while the largest increase was in 2019, with a rise of 2.6%.

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

From 2017 to 2020, the structure of Germany's exports in kind was diversified. Poland accounted for 17.1% of exports, the Netherlands for 16.5%, and Italy for 10.2%. Together, these three countries represented just 43.8% of total flows, with no single country holding a clearly dominant position.

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

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

Exports in value, M $ US

Germany's cross-border shipments of phenolic resins in primary forms declined for the third consecutive year. In 2020, exports totalled 183.9 million US dollars, equivalent to a fall of 4.6% compared to the previous year. Over the period from 2017 to 2020, exports decreased by 12.7%, with a compound annual growth rate of 4.4%.

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

During 2017 to 2020, Germany's exports in value terms were distributed across a large number of markets. China accounted for 11.4% of exports, Italy for 9.8%, and Poland for 9.4%. Collectively, these three countries represented only 30.6% of total flows.

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

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

Imports phenolic resins in primary forms to Germany

Imports in kind, t

Germany's imports of phenolic resins in primary forms declined for the second consecutive year. In 2020, imports reached 91 267 tonnes, down by 2.3% from the previous year. Over the period from 2017 to 2020, imports increased by 9.8%, with a compound annual growth rate of 3.2%. The highest import volume was recorded in 2018 at 97 196 tonnes. The largest decline occurred in 2019, with a drop of 3.9%, while the largest increase was in 2018, with a rise of 16.9%.

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

From 2017 to 2020, Austria led the ranking of suppliers to Germany, accounting for 23.0% of imports in kind, followed by Poland at 17.4% and Portugal at 14.0%. Together, these three countries made up 54.5% of total imports in kind.

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

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

Imports in value, M $ US

Germany's imports of phenolic resins in primary forms declined for the second consecutive year. In 2020, imports totalled 128.8 million US dollars, down by 11.4% from the previous year. Over the period from 2017 to 2020, imports decreased by 9.2%, with a compound annual growth rate of 3.2%. The highest import value was recorded in 2018 at 167.6 million US dollars. The largest decline occurred in 2019, with a drop of 13.3%, while the largest increase was in 2018, with a rise of 18.1%.

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

From 2017 to 2020, the structure of Germany's imports in value terms was diversified. Portugal accounted for 16.9% of imports, Belgium for 14.8%, and Italy for 10.5%. Together, these three countries represented just 42.2% of total flows, with no single country holding a clearly dominant position.

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

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