Global Phenolic Resin Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2027
“Global Phenolic Resin Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by MarketResearch.biz, which offers in-depth insights, revenue details, and other vital information regarding the global phenolic resin market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global phenolic resin market report has been segmented on the basis of type, application, end-use industries, and region.
Phenolic resins are synthetic polymers acquired by polymerization of formaldehyde and phenol. Phenolic resins possess excellent chemical and physical properties such as low toxicity, high mechanical strength, better heat resistance, high thermal stability, and low smoke formation. Due to such properties, phenolic resins find applications in the myriad industrial products. In addition, from molded products including billiard balls to adhesives and coatings, phenolic resins are utilized for various applications in various industries such as electrical & electronics, automotive, construction, and others.
Increasing demand for phenolic resin across various end-use industries such as building and construction and automotive is a major factor estimated to drive growth of the target market over the next few years. Moreover, increasing scope of its application in electrical & electronics industry is another factor estimated to support revenue growth of the global market over the next 10 years.
Various features offered by these composite materials such as high coating hardness, enhance solvent resistance, and others is another factor projected to fuel adoption of phenolic resins, which in turn is estimated to drive growth of the global market over the forecast period. Moreover, growing demand from surface coatings, textile finishers, paper processing, and laminate flooring sector is another factor estimated to increase phenolic resin demand, which in turn anticipated to drive growth of the global market in the next 10 years.
On the basis of type, novolacs segment is expected to dominate the global market, owing to high performance and moderate cost. The novolacs segment revenue is anticipated to register highest CAGR over the forecast.
On the basis of application, the wood-adhesives segment is expected to account for significant share in terms of revenue in the global market. The wood-adhesives segment revenue is also projected to register highest CAGR over the forecast.
On the basis of end user, the furniture segment is expected to account for major share in terms of revenue in the global market. The furniture segment revenue is also anticipated to register highest CAGR over the forecast.
Asia Pacific phenolic resin market is estimated to account for major share in terms of revenue in the global market. The Asia Pacific market is also projected to register faster growth in terms of revenue over the next 10 years, owing to increasing demand from construction and automotive industries in countries in this region. Moreover, increasing investments by various furniture and electronics and electrical manufacturers owing low cost labor as well as easy availability of raw materials in various developing countries such as China and India in Asia Pacific is another factor anticipated to drive growth of the Asia Pacific market in the next few years.
Global phenolic resin market segmentation:
Segmentation by type:
- Novolacs (formaldehyde: Phenol < 1)
- Resoles (formaldehyde: Phenol > 1)
- Modified Phenolic Resins
Segmentation by application:
- Molding compound
Segmentation by end-use industries:
- Furniture Industry
- Automotive Industry
- Electrical & Electronics Industry
- Construction Industry
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- BASF SE
- Hitachi Chemical Company, Ltd.
- Chang Chun Plastics Co., Ltd.
- Mitsui Chemicals, Inc.
- Georgia-Pacific Chemicals LLC
- Prefere Resins GmbH
- Kolon Industries, Inc.
- Momentive Specialty Chemicals GmbH
- SI Group, Inc.
- Sumitomo Bakelite Company Limited
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