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Written by elijah001 » Updated on: September 24th, 2024
The cost of phenolic resin in the United States during the last quarter of 2023 decreased significantly in December, reaching 3105 USD/MT
The latest report by IMARC Group, titled "Phenolic Resin Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data," provides a thorough examination of the Phenolic Resin Prices. This report delves into the price of Phenolic Resin globally, presenting a detailed analysis, along with informative Price Chart. Through comprehensive Price analysis, the report sheds light on the key factors influencing these trend. Additionally, it includes historical data to offer context and depth to the current pricing landscape. The report also explores the Demand, analyzing how it impacts Industry dynamics. To aid in strategic planning, the price forecast section provides insights into price forecast, making this report an invaluable resource for industry stakeholders.
Phenolic Resin Prices Analysis
Report Offering:
The study delves into the factors affecting phenolic Resin price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.
The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.
Request For a Sample Copy of the Report: https://www.imarcgroup.com/phenolic-resin-pricing-report/requestsample
Phenolic Resin Price Trend- Last Quarter
The phenolic resin market, pivotal in applications ranging from adhesives and coatings to automotive and construction components, is influenced by a blend of industrial demand, supply dynamics, and upstream material costs. In the fourth quarter of 2023, the market witnessed variations across different regions, primarily driven by the demand from downstream industries.
The market trended bearish in North America due to low demand in sectors such as adhesives and coatings, paired with ample material availability, leading to softened prices. Similarly, in the APAC region, weak demand from the automotive and construction sectors contributed to a surplus in supply and a bearish market outlook. Conversely, Europe's market dynamics were influenced by slow manufacturing activities and a decrease in downstream demand, which, coupled with reduced supply levels, led to a decline in Phenolic Resin prices.
Phenolic Resin Industry Analysis
The pricing of phenolic resin in December 2023 was a function of multiple intertwined factors that affected the market differently across regions. In North America, the bearish pricing trend directly resulted from diminished demand from key downstream industries like adhesives and coatings. The ample availability of Phenolic Resin in the domestic market, stemming from sufficient production levels and a slowdown in procurement activities, led to a downward pressure on prices.
The significant price adjustments, especially evident in the USA with Novolac Phenolic Resin prices dropping, were indicative of a market grappling with high inventory levels and a cautious approach from consumers towards stockpiling, further exacerbated by weak cost support from upstream phenol and formaldehyde markets.
The APAC and European regions echoed similar sentiments with their unique influences. In APAC, particularly China, the demand-supply dynamics were tilted by lower demand from the automotive and construction sectors against a backdrop of built-up inventories. This imbalance was reflected in sluggish market activities, with the festive mid-autumn holidays further dampening business transactions. The minor percentage changes in prices throughout the quarter were a testament to a market facing soft consumer inquiries and an absence of significant supply chain disruptions.
Europe's scenario differed slightly, where a reduction in manufacturing activities curtailed the supply of phenolic resin. This, combined with a drop in cost support from upstream markets, and slow import rates, contributed to the bearish price trend observed across the region. Belgium's significant price decrease highlighted the broader European market's struggle with subdued domestic consumption and poor overseas demand.
Regional Price Analysis:
Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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