The import of Amino-Resins, Phenolic Resins, and Polyurethanes to Belgium has experienced significant fluctuations over the past decade. Starting at $306.6 million in 2013, the market saw peaks and troughs, including a notable decrease in 2015 and a substantial rise in 2017. The most recent data from 2023 indicates the import value stood at $592.8 million, highlighting steady growth. The average annual growth rate (CAGR) over the past five years is 3.03%, indicating moderate growth.
Over the latter years, notable variations include a 19.4% increase in 2021 contrasted by a 3.82% rise in 2023. The forecast from 2024 onwards suggests a continued upward trend with a 5-year CAGR projected at 2.78% and an overall growth rate of 14.7% by 2028.
Future trends to watch for:
- Technological advancements in resin production
- Regulatory changes affecting import policies
- Market demand shifts due to new applications in various industries
- Environmental and sustainability considerations impacting manufacturing processes
