Argentina Phenolic Resins Market Shipment Analysis
Argentina Phenolic Resins Market registered a decline of -1.73% in value shipments in 2022 as compared to 2021 and an increase of 2.55% CAGR in 2022 over a period of 2017. In Phenolic Resins Market Argentina is becoming more competitive as the HHI index in 2022 was 2819 while in 2017 it was 3195. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market.
Argentina has reportedly relied more on imports to meet its growing demand in Phenolic Resins Market. India is unable to meet its increasing needs of this product with domestic production hence we see the trend is shifting towards import shipment to meet its demand The import factor of Phenolic Resins Market in 2022 was 3.94 while in 2017 it was 3.6. Brazil, Chile, Germany, China and USA were among the top players of the market in 2022, where Brazil acquired the largest market share of 50.25% with a shipment value of 9.19 million USD in 2022 Brazil also offered the product below the average market price thus having a competitive advantage over others In 2017 Brazil had the largest market share of 53.25% with the shipment value of 8.52 million USD. The country was offering its product with an average price which is lower than the average market price offered in the country. As Brazil price is lower than the average price, it provided a significant edge among other competitor in 2017.
