May 25, 2025
IndexBox has just published a new report: United Kingdom – Monophenols – Market Analysis, Forecast, Size, Trends And Insights.
The UK monophenols market is set to experience continued growth driven by increasing demand. With a projected CAGR of +0.2% in volume and +1.7% in value from 2024 to 2035, the market is anticipated to expand and reach new heights by the end of the forecast period.
Market Forecast
Driven by increasing demand for monophenols in the UK, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +0.2% for the period from 2024 to 2035, which is projected to bring the market volume to 610K tons by the end of 2035.
In value terms, the market is forecast to increase with an anticipated CAGR of +1.7% for the period from 2024 to 2035, which is projected to bring the market value to $2.3B (in nominal wholesale prices) by the end of 2035.
Consumption
United Kingdom’s Consumption of Monophenols
In 2024, consumption of monophenols decreased by -2.4% to 597K tons, falling for the third year in a row after two years of growth. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak volume of 667K tons. From 2022 to 2024, the growth of the consumption failed to regain momentum.
The value of the monophenols market in the UK shrank to $1.9B in 2024, dropping by -8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). In general, consumption, however, saw a relatively flat trend pattern. Monophenols consumption peaked at $2.1B in 2023, and then reduced in the following year.
Production
United Kingdom’s Production of Monophenols
In 2024, production of monophenols in the UK reduced to 561K tons, declining by -6.3% against 2023. In general, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 14%. As a result, production attained the peak volume of 615K tons. From 2022 to 2024, production growth remained at a somewhat lower figure.
In value terms, monophenols production fell to $1.8B in 2024 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the production volume increased by 23%. Monophenols production peaked at $2.1B in 2023, and then declined in the following year.
Imports
United Kingdom’s Imports of Monophenols
In 2024, purchases abroad of monophenols was finally on the rise to reach 59K tons for the first time since 2021, thus ending a two-year declining trend. Overall, imports, however, saw a noticeable downturn. Over the period under review, imports reached the maximum at 94K tons in 2018; however, from 2019 to 2024, imports stood at a somewhat lower figure.
In value terms, monophenols imports amounted to $127M in 2024. Over the period under review, imports, however, recorded a pronounced descent. The most prominent rate of growth was recorded in 2021 when imports increased by 28% against the previous year. Imports peaked at $175M in 2022; however, from 2023 to 2024, imports stood at a somewhat lower figure.
Imports By Country
Spain (23K tons), Finland (15K tons) and Germany (6.7K tons) were the main suppliers of monophenols imports to the UK, together accounting for 76% of total imports. Switzerland, the United States, South Africa, India and Belgium lagged somewhat behind, together comprising a further 21%.
From 2013 to 2024, the biggest increases were recorded for South Africa (with a CAGR of +33.6%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, Germany ($33M), Spain ($30M) and Finland ($21M) were the largest monophenols suppliers to the UK, with a combined 66% share of total imports. The United States, Switzerland, India, South Africa and Belgium lagged somewhat behind, together accounting for a further 29%.
Among the main suppliers, South Africa, with a CAGR of +28.3%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices By Country
In 2024, the average monophenols import price amounted to $2,165 per ton, dropping by -39.8% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2023 an increase of 44% against the previous year. As a result, import price reached the peak level of $3,593 per ton, and then shrank notably in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($4,960 per ton), while the price for Spain ($1,334 per ton) was amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Belgium (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports
United Kingdom’s Exports of Monophenols
In 2024, after two years of decline, there was growth in overseas shipments of monophenols, when their volume increased by 3.5% to 22K tons. In general, exports, however, showed a pronounced contraction. The most prominent rate of growth was recorded in 2017 with an increase of 13%. Over the period under review, the exports hit record highs at 31K tons in 2021; however, from 2022 to 2024, the exports stood at a somewhat lower figure.
In value terms, monophenols exports shrank to $74M in 2024. Over the period under review, exports, however, showed a noticeable contraction. The pace of growth appeared the most rapid in 2021 with an increase of 27%. Over the period under review, the exports attained the peak figure at $98M in 2013; however, from 2014 to 2024, the exports stood at a somewhat lower figure.
Exports By Country
Switzerland (6.9K tons), France (5.8K tons) and Ireland (4.3K tons) were the main destinations of monophenols exports from the UK, together comprising 76% of total exports. Portugal, Germany, Spain and Belgium lagged somewhat behind, together accounting for a further 22%.
From 2013 to 2024, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Portugal (with a CAGR of +9.5%), while the other leaders experienced more modest paces of growth.
In value terms, Switzerland ($38M) remains the key foreign market for monophenols exports from the UK, comprising 51% of total exports. The second position in the ranking was held by France ($13M), with an 18% share of total exports. It was followed by Ireland, with a 12% share.
From 2013 to 2024, the average annual rate of growth in terms of value to Switzerland was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-7.7% per year) and Ireland (-0.9% per year).
Export Prices By Country
In 2024, the average monophenols export price amounted to $3,295 per ton, shrinking by -9.5% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2023 when the average export price increased by 16% against the previous year. As a result, the export price reached the peak level of $3,640 per ton, and then declined in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($5,487 per ton), while the average price for exports to Ireland ($1,996 per ton) was amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+1.5%), while the prices for the other major destinations experienced a decline.
