The import of phenolic resins to Belgium has displayed significant fluctuations over the last decade. The data indicate considerable volatility, with a noteworthy spike in 2017 followed by a decline in 2018. The following years showed a mix of modest recoveries and declines. In 2023, imports have reached 20.618 million kilograms. The year-on-year growth from 2022 to 2023 was a modest 1.31%. The CAGR over the last five years stood at 3.32%, indicating moderate annual growth.
Looking forward to 2028, forecasts suggest a steady, albeit slow, positive trend with a 5-year CAGR of 1.05% and an overall growth rate of 5.34% by the end of 2028. This indicates a stabilization in the import volume of phenolic resins.
Future trends to watch for:
• The impact of regulatory changes on the chemical industry
• Technological advancements in resin production
• Demand shifts in key importing industries such as automotive and construction
• Global economic factors affecting trade policies and logistics.
