Import of phenolic resins into Thailand has demonstrated considerable variability, rising from $89.43 million in 2013 to $106.4 million in 2023. The year-on-year variation for 2022-2023 stood at 2.69%, with the compound annual growth rate (CAGR) over the past five years calculated at 2.61%. Notably, the forecast data predicts a moderate growth trend, with the import value expected to reach $120.66 million by 2028, indicating a projected five-year CAGR of 2.03% and a total growth rate of 10.6% from 2023.
Future trends to watch for include fluctuations in global oil prices, which directly impact the production costs of phenolic resins, advancements in local production technologies in Thailand, and shifts in demand from key end-user industries such as automotive and construction. Additionally, trade policies and currency exchange rates could significantly influence import dynamics.
