What is this growth?

What is happening to this monkey puzzle tree? White sap is oozing out and there are round growths, the size of coconuts, in places on the trunk.

A From the picture, it is clear that a whitish, resinous material is oozing out of the tree and running down the trunk. The cannonball-sized growths are probably fungal and almost certainly linked with the symptoms which resemble bleeding canker.
I’m afraid I can’t identify the specific pathogen, but no doubt a qualified plant pathologist could.
Various fungal and bacterial organisms cause such diseases and there is unlikely to be a cure for the tree once it is affected. Stress, particularly if brought on by excessive drought, can aggravate the symptoms, but if growing conditions are good and the roots remain undisturbed, the tree may live for many more years before succumbing.