Polyphenols And Phenol-Alcohols Market

The global polyphenols and phenol-alcohols market is expected to continue growing over the next eight years, with forecasted increases in both consumption and value. Despite a decline in consumption in 2022, the overall trend has been positive, with significant growth from 2012 to 2022. Key consuming countries include China, the United States, and Japan, while major exporting countries include Japan, the United States, and China. Import and export prices have also seen growth, with fluctuations throughout the years. Overall, the market is projected to see steady growth in the near future.

Market Forecast

Driven by increasing demand for polyphenols and phenol-alcohols worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +1.6% for the period from 2022 to 2030, which is projected to bring the market volume to 222K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.8% for the period from 2022 to 2030, which is projected to bring the market value to $2.4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Polyphenols And Phenol-Alcohols

In 2022, after two years of growth, there was significant decline in consumption of polyphenols and phenol-alcohols, when its volume decreased by -5.2% to 195K tons. Over the period under review, the total consumption indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +67.8% against 2013 indices. As a result, consumption attained the peak volume of 206K tons, and then shrank in the following year.

The global polyphenols and phenol-alcohols market size rose markedly to $1.9B in 2022, increasing by 9.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +88.2% against 2013 indices. Over the period under review, the global market attained the maximum level in 2022 and is expected to retain growth in the immediate term.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (37K tons), the United States (22K tons) and Japan (12K tons), with a combined 37% share of global consumption. Germany, India, Russia, Nigeria, Belgium, South Korea, France, the UK, Turkey and Italy lagged somewhat behind, together comprising a further 36%.

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of +13.9%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest polyphenols and phenol-alcohols markets worldwide were the United States ($203M), China ($184M) and Japan ($128M), with a combined 27% share of the global market. Germany, Nigeria, India, France, Turkey, South Korea, Belgium, the UK, Italy and Russia lagged somewhat behind, together accounting for a further 30%.

In terms of the main consuming countries, Nigeria, with a CAGR of +13.4%, recorded the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of polyphenols and phenol-alcohols per capita consumption was registered in Belgium (599 kg per 1000 persons), followed by South Korea (133 kg per 1000 persons), Germany (132 kg per 1000 persons) and Japan (96 kg per 1000 persons), while the world average per capita consumption of polyphenols and phenol-alcohols was estimated at 25 kg per 1000 persons.

In Belgium, polyphenols and phenol-alcohols per capita consumption decreased by an average annual rate of -9.7% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: South Korea (+10.3% per year) and Germany (+6.0% per year).

Production

World Production of Polyphenols And Phenol-Alcohols

In 2022, after eight years of growth, there was decline in production of polyphenols and phenol-alcohols, when its volume decreased by -4.3% to 187K tons. Overall, the total production indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +72.1% against 2013 indices. The pace of growth was the most pronounced in 2016 with an increase of 18% against the previous year. Global production peaked at 195K tons in 2021, and then contracted in the following year.

In value terms, polyphenols and phenol-alcohols production contracted to $1.7B in 2022 estimated in export price. Over the period under review, production, however, posted a strong increase. The pace of growth appeared the most rapid in 2018 when the production volume increased by 27% against the previous year. Over the period under review, global production attained the maximum level at $1.8B in 2021, and then fell in the following year.

Production By Country

The countries with the highest volumes of production in 2022 were Japan (41K tons), the United States (27K tons) and China (24K tons), together accounting for 49% of global production. France, Germany, India, Russia, Italy, Nigeria, Turkey and Canada lagged somewhat behind, together comprising a further 37%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by France (with a CAGR of +33.6%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Polyphenols And Phenol-Alcohols

In 2022, after two years of growth, there was significant decline in supplies from abroad of polyphenols and phenol-alcohols, when their volume decreased by -7.7% to 146K tons. In general, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 22%. Global imports peaked at 166K tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, polyphenols and phenol-alcohols imports expanded rapidly to $1.3B in 2022. The total import value increased at an average annual rate of +3.1% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 with an increase of 22% against the previous year. Global imports peaked in 2022 and are likely to continue growth in the near future.

Imports By Country

In 2022, China (28K tons), distantly followed by Belgium (17K tons), India (16K tons), the United States (14K tons) and South Korea (10K tons) represented the major importers of polyphenols and phenol-alcohols, together creating 58% of total imports. The following importers - Japan (6.5K tons), the Netherlands (6.4K tons), Germany (6.2K tons), the UK (4.5K tons), Italy (3.1K tons), Brazil (2.5K tons) and Poland (2.3K tons) - together made up 21% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by South Korea (with a CAGR of +8.7%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, China ($139M), India ($133M) and the United States ($130M) constituted the countries with the highest levels of imports in 2022, together accounting for 31% of global imports. Belgium, South Korea, Japan, Germany, the Netherlands, the UK, Brazil, Italy and Poland lagged somewhat behind, together accounting for a further 41%.

In terms of the main importing countries, Poland, with a CAGR of +9.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average polyphenols and phenol-alcohols import price stood at $8,842 per ton in 2022, jumping by 15% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.9%. The pace of growth appeared the most rapid in 2018 when the average import price increased by 18%. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Brazil ($16,961 per ton), while China ($5,042 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+7.8%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Polyphenols And Phenol-Alcohols

After two years of growth, overseas shipments of polyphenols and phenol-alcohols decreased by -6.7% to 138K tons in 2022. The total export volume increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 18% against the previous year. Over the period under review, the global exports reached the peak figure at 148K tons in 2021, and then reduced in the following year.

In value terms, polyphenols and phenol-alcohols exports expanded to $1.2B in 2022. In general, total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +73.3% against 2016 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 20%. The global exports peaked in 2022 and are expected to retain growth in years to come.

Exports By Country

In 2022, Japan (36K tons), distantly followed by the United States (19K tons), China (15K tons), India (15K tons), France (14K tons), Germany (10K tons) and Belgium (10K tons) represented the largest exporters of polyphenols and phenol-alcohols, together creating 86% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by France (with a CAGR of +82.9%), while the other global leaders experienced more modest paces of growth.

In value terms, Japan ($270M), the United States ($180M) and China ($175M) appeared to be the countries with the highest levels of exports in 2022, with a combined 50% share of global exports. India, Germany, Belgium and France lagged somewhat behind, together accounting for a further 34%.

In terms of the main exporting countries, France, with a CAGR of +57.6%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average polyphenols and phenol-alcohols export price amounted to $9,009 per ton, with an increase of 11% against the previous year. Over the last decade, it increased at an average annual rate of +3.1%. The most prominent rate of growth was recorded in 2018 an increase of 17%. The global export price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($11,812 per ton), while France ($5,387 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+6.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform