For the Quarter Ending September 2025
North America
• In the USA, the Phenolic Resin Price Index rose by 1.27% quarter-over-quarter, reflecting stable feedstock costs and balanced demand.
• The average Phenolic Resin price for the quarter was approximately USD 1698.33/MT.
• Balanced inventories limited Phenolic Resin Spot Price upside while the Price Index remained range-bound amid cautious buying.
• Short-term Phenolic Resin Price Forecast signals modest volatility as hurricane risks and procurement patterns influence Q4 offers.
• Low crude dynamics kept the Phenolic Resin Production Cost Trend muted, supporting producers' steady operating economics.
• Phenolic Resin Demand Outlook remains subdued due to weak construction, partially offset by resilient automotive component demand.
• Elevated inventories and moderate export inquiries constrained the Phenolic Resin Price Index, limiting seller leverage on spot offers.
• Producer operating rates remained steady, with no major outages, keeping supply balanced and tempering upward price pressure.
• Sellers cautious on forward offers, with contract-centric trade dominating as buyers avoid speculative stocking into uncertain demand.
Why did the price of Phenolic Resin change in September 2025 in North America?
• Abundant feedstock phenol availability eased production costs, contributing to lower pricing pressure in late September.
• Comfortable finished-resin inventories across Gulf Coast and Midwest reduced urgency for spot buying, softening demand.
• Subdued construction-linked offtake and cautious procurement limited orderbooks, outweighing modest automotive support during the month.
APAC
• In Indonesia, the Phenolic Resin Price Index fell by 1.9% quarter-over-quarter, pressured by abundant imports.
• The average Phenolic Resin price for the quarter was approximately USD 1405.00/MT across CFR Jakarta.
• Phenolic Resin Spot Price held steady as buyers limited purchases, keeping offers competitive, volumes low.
• Phenolic Resin Price Forecast anticipates limited near-term upside given persistent oversupply and soft seasonal demand.
• Phenolic Resin Production Cost Trend eased as lower phenol and formaldehyde values reduced manufacturing expenses.
• Phenolic Resin Demand Outlook remains weak as construction and wood-panel activity slows during monsoon disruptions.
• Phenolic Resin Price Index signalled seller pressure, discounting increasing, however stimulating transactions amid elevated inventories.
• Export offers from China and South Korea pressured CFR levels; port congestion caused minimal shipment delays.
Why did the price of Phenolic Resin change in September 2025 in APAC?
• Ample supply from China and South Korea increased availability, exerting downward pressure on CFR prices.
• Weak downstream demand from construction and wood-panel sectors, exacerbated by monsoon disruptions, limited purchasing activity.
• Reduced feedstock costs from softer phenol and formaldehyde, driven by lower crude, eased production costs.
Europe
• In Germany, the Phenolic Resin Price Index fell by 0.38% quarter-over-quarter, reflecting weak demand pressures.
• The average Phenolic Resin price for the quarter was approximately USD 1661/MT, reflecting subdued restocking.
• Market liquidity remained thin as the Phenolic Resin Spot Price tracked sideways amid inventory accumulation.
• The Phenolic Resin Price Forecast indicates modest upside as phenol tightness offsets weak downstream purchasing.
• European Phenolic Resin Production Cost Trend rose after phenol outages, while formaldehyde pricing stayed subdued.
• The Phenolic Resin Demand Outlook remains muted, with construction and automotive sectors delaying procurement decisions.
• Logistics bottlenecks pressured the Phenolic Resin Price Index, restricting exports and amplifying on-site inventory accumulation.
• Producer operating rates stayed steady, keeping spot availability adequate and preventing sharper upward pricing moves.
Why did the price of Phenolic Resin change in September 2025 in Europe?
• Tightened phenol supply after the Gladbeck closure increased production costs, supporting limited upward price pressure.
• Persistent weak end-use demand from construction and automotive curtailed buying, capping sustained price recovery prospects.
• Severe port congestion constrained exports, drove on-site inventories higher, and maintained bearish regional market sentiment.
For the Quarter Ending June 2025
North America
• The Phenolic Resin Price Index in the U.S. moved slightly higher across Q2 2025, with modest gains in April, May, and June supported by steady automotive sector demand, while construction-linked coatings, laminates, and adhesives consumption remained muted.
• April’s small uptick reflected gradually easing inventories and stable feedstock costs, with robust auto sales offsetting weakness from a housing sector constrained by high mortgage rates and low buyer traffic.
• May saw prices hold largely steady, as softer phenol values balanced rising formaldehyde costs, with construction demand staying subdued while strong auto sales and friction-material demand provided limited stability.
• June’s marginal rise was driven by improving auto sales and firmer offtake for molded and friction components, though plentiful inventories, soft feedstock costs, and continued weakness in construction-related segments kept sentiment cautious.
Why did the price of Phenolic Resin remain stable in July 2025 in North America?
• In July, the Phenolic Resin Price Index in the U.S. stayed flat as steady supply and moderate feedstock costs coincided with uneven demand from coatings, adhesives, and laminates, despite modest support from automotive applications.
• The Phenolic Resin Production Cost Trend remained soft, with phenol and formaldehyde tracking weaker crude benchmarks, allowing producers to sustain competitive offers as Gulf Coast logistics operated smoothly and inventories stayed balanced.
• The Phenolic Resin Price Forecast suggests muted movement into August, with construction-linked demand likely to remain a drag, partially offset by steady automotive offtake and consistent export flows.
APAC
• The Phenolic Resin Price Index in China trended gradually upward through Q2 2025, with prices edging higher in April and May and firming further in June as stronger automotive sector demand and localized restocking offset persistent construction-sector weakness.
• April’s modest rise was supported by recovering domestic orders, post-Ramadan export interest from Middle Eastern buyers, and stable feedstock costs, as manufacturers held offers firm amid manageable inventory levels.
• Prices steadied in May with minimal movement as extended holidays slowed trade, though confidence improved after U.S.–China tariff easing spurred renewed export bookings and moderate support from the automotive segment.
• June saw another slight uptick as strong vehicle production and sales drove automotive resin consumption, while restocking ahead of potential typhoon-related disruptions and localized supply tightening reinforced firmer sentiment despite muted construction-linked demand.
Why did the price of Phenolic Resin remain stable in July 2025 in Asia?
• In July, the Phenolic Resin Price Index in Asia stayed flat as steady supply, elevated inventories, and subdued downstream demand from adhesives and laminates weighed on sentiment.
• The Phenolic Resin Production Cost Trend remained soft, with acetone and phenol tracking weaker crude oil benchmarks, enabling producers to hold offers steady despite rising stock burdens and port congestion slowing shipments.
• The Phenolic Resin Price Forecast points to continued bearish pressure into August, as seasonal construction slowdowns in Asia and importing markets like India, combined with weak replenishment interest, are expected to keep spot activity muted.
Europe
• The Phenolic Resin Price Index in Germany trended steadily lower through Q2 2025, with prices declining across April, May, and June as oversupply, soft phenol feedstock values, and persistently weak demand from construction-linked coatings, laminates, and adhesives weighed on the market.
• April declines reflected sluggish housing and commercial construction activity, ample inventories, and low Rhine water levels disrupting inland transport, while port congestion at Hamburg further slowed exports and added to market pressure.
• Prices continued to weaken in May as crude-driven phenol costs fell, Eurozone chemical output contracted, and downstream buyers avoided bulk procurement, relying on spot transactions amid subdued project activity.
• June saw further price erosion as residential, commercial, and civil engineering activity dropped sharply, leaving buyers cautious and procurement limited to immediate needs despite comfortable inventories and stable formaldehyde costs.
Why did the price of Phenolic Resin change in July 2025 in Europe?
• In July, the Phenolic Resin Price Index across Europe held steady at low levels as weak cost support and persistently soft demand from coatings, adhesives, and laminates producers weighed on sentiment.
• The Phenolic Resin Production Cost Trend stayed soft, with phenol and formaldehyde tracking weaker crude benchmarks, prompting sellers to maintain competitive offers despite mounting inventory pressure from sluggish domestic and export activity.
• The Phenolic Resin Price Forecast signals continued bearish momentum into August, as eurozone construction weakness and limited procurement from overseas buyers are expected to keep trade volumes thin and inventories elevated.
For the Quarter Ending March 2025
North America
Throughout Q1 2025, the phenolic resin market in North America followed a mixed trend. January saw a slight decline in prices, pressured by weak demand from adhesives, coatings, and molding compounds, combined with high inventory levels and cold weather-related construction slowdowns. Market activity was further stalled by seasonal holidays and cautious procurement behavior.
In February, prices began to recover moderately as weather conditions improved, and downstream operations resumed. Nonresidential construction offered some support despite continued housing sector weakness, while stable feedstock phenol costs helped producers maintain margins.
By March, prices increased further amid steady demand from laminate and insulation sectors, along with improving manufacturing activity. Although housing starts showed month-over-month growth, weaker forward indicators like declining building permits and completions limited bullish sentiment. Persistent labor shortages and tariff-related material costs continued to hinder full recovery in construction-linked resin demand. With cautious buying strategies and moderate cost pressures, phenolic resin prices saw a gradual upward shift through the latter half of the quarter. Phenolic resin prices in the U.S. closed Q1 2025 at USD 1,635/MT FOB Louisiana.
APAC
Throughout Q1 2025, the phenolic resin market in APAC displayed a mixed trend. January saw declining prices due to subdued downstream demand, oversupply, and weak feedstock phenol costs. Cold weather and stalled construction projects in northern China reduced procurement from sectors like coatings, adhesives, and molding compounds. Ahead of the Lunar New Year, stocking was limited, and high inventory levels further pressured market sentiment. In February, prices rebounded as production resumed post-holiday, and rising phenol and formaldehyde costs—driven by planned shutdowns and supply constraints—boosted resin prices. Although demand recovery was gradual, restocking and increased inquiries supported price gains. By March, prices rose modestly amid improved domestic manufacturing, tighter phenol supply, and rising export interest, particularly from India and Southeast Asia. However, weak real estate and global demand, along with Ramadan-related slowdowns in the Middle East, kept sentiment cautious. With supply disruptions easing and downstream sectors slowly recovering, phenolic resin prices showed a steady uptrend after early-quarter weakness. Phenolic resin prices in China closed the quarter at USD 1,333/MT FOB Qingdao.
Europe
Throughout Q1 2025, the phenolic resin market in Europe exhibited a mixed trend. January saw a marginal price increase, driven by higher feedstock phenol costs, even as demand from adhesives, coatings, and molding compounds remained weak. The seasonal construction slowdown and holiday disruptions limited procurement, while high inventories and cheap imports capped further price gains. In February, prices began to fall as demand stagnated across the construction and automotive sectors. The prolonged downturn in Germany’s housing market, along with declining building permits and limited civil engineering activity, kept consumption subdued. By March, prices declined further amid softer feedstock phenol prices and weakened industrial orders. Downstream sectors continued to operate cautiously, with limited restocking and small-volume orders dominating transactions. Export momentum was hindered by persistent port congestion in Hamburg and inland transport delays caused by low Rhine River levels. With ongoing macroeconomic challenges, overcapacity, and muted demand, the phenolic resin market in Europe remained under sustained pressure through the end of the quarter. Phenolic resin prices in Germany closed Q1 at USD 1,728/MT FOB Hamburg.
For the Quarter Ending December 2024
North America
Throughout Q4 2024, the phenolic resin market in North America exhibited mixed trends, with October experiencing price declines, November seeing a slight recovery, and December stabilizing. In the USA, the market saw the most significant price changes, as October prices dropped due to weak demand from key sectors like paints, coatings, laminates, and adhesives, compounded by high inventory levels and reduced construction and automotive activity.
November brought a marginal increase in prices, supported by modest improvements in the feedstock formaldehyde costs and steady operating rates despite subdued demand. The slight uptick was primarily driven by temporary restocking activity in downstream sectors and efforts to manage inventory levels.
By December, prices stabilized as end-users prioritized immediate requirements over bulk procurement amidst ongoing structural challenges in the construction and automotive industries. Seasonal destocking efforts by manufacturers further contributed to maintaining balance in the market. Ending the quarter, the price for phenolic resin in the USA was recorded at USD 1,590/MT FOB Louisiana, reflecting stabilized sentiment amid cautious market activity and persistent oversupply pressures.
APAC
In Q4 2024, the phenolic resin market in the Asia-Pacific (APAC) region experienced mixed dynamics, with stabilized prices in October followed by declines in November and December. October's stabilization was supported by stronger feedstock phenol prices, though demand from downstream sectors like paints, coatings, laminates, and foam boards remained weak due to the continued construction sector slowdown in major economies like China. In November, prices began to decline as supply levels increased post-Golden Week, exacerbating the supply-demand imbalance. Subdued economic conditions across the region, coupled with cautious procurement behaviors from end-users, further weakened market sentiment. December saw continued price pressure as manufacturers faced high inventory levels and sluggish downstream activity, particularly in the construction and coatings sectors. Seasonal slowdowns and destocking efforts added to the bearish environment. By the end of the quarter, phenolic resin prices in China were recorded at USD 1,315/MT FOB Qingdao, reflecting the combined impacts of oversupply, subdued demand, and structural challenges in key end-use industries.
Europe
Throughout Q4 2024, phenolic resin prices in Europe declined steadily, impacted by weak demand, oversupply, and subdued downstream activity. In Germany, the market saw the most significant price changes as sluggish construction activity and a downturn in key end-use sectors like paints, coatings, laminates, and adhesives weighed on demand. October prices dropped due to high inventory levels, reduced new orders, and restrained purchasing activity amidst a bearish manufacturing sector. November continued the downward trend as construction output and automotive sales fell across Europe, exacerbating the demand-supply imbalance. Increased global competition from APAC exporters and weak feedstock phenol prices further pressured the market. December saw prices decline slightly as colder weather slowed construction activities and end-users focused on clearing existing inventories rather than restocking. Manufacturers adopted aggressive destocking strategies and offered discounts to manage liquidity amidst persistent oversupply. Ending the quarter, the price for phenolic resin in Germany was recorded at USD 1,755/MT FOB Hamburg, reflecting ongoing challenges in balancing supply and demand in a constrained market.
