Phenolic Resin Market to experience an impressive growth of 5.1 % during 2019-2024

Addressing the most sought-after questions that occupy the minds of entrepreneurs and decision makers, the new report of "Stratview Research" on the Phenolic Resin Market, answers all the important questions.

Getting to the bare bones of the issues and factors which are sculpturing the market, Stratview Research brings out the best actionable market intelligence for the global Phenolic Resin Market.

The analysts have scrupulously studied the trend and cautiously forecasted the future market developments for 2019-2024.
The important questions the report answers are:
1. What will be the market growth rate in the near future?
2. What are the major developments in the market wrt regulations, acquisitions and innovations?
3. What are the growth drivers as well as the constraints?
4. What are the regional growth hotspots?
5. What are the segmental growth forecasts?

These questions and many more, big and small, are all discussed in the report in great detail.

Phenolic Resin Market: Highlights
The global phenolic resin market is likely to witness a healthy CAGR of 5.1% during the forecast period. Increasing automobile production, especially in Asia-Pacific and Eastern Europe, growing building & construction and electrical & electronics industry; advancements in phenolic resin properties, and increasing usage of phenolic resins in new applications are the major factors driving the demand for phenolic resins in various end-use industries.

The strategic Market dissection
The dissection of the market is done to enlighten the aspects which are of interest to firms across the value chain.

Dissection by Segments
• by Type : Resol Resin, Novolac Resin and Others
• by Application Type : Wood Adhesives, Foundry and Others
• by End-Use Industry Type : Automotive, Building & Construction and Others
• by Region : North America, Europe, Asia-Pacific, and RoW

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Market Segments
Based on the resin type, the market is segmented as resol resin, novolac resin, and others. Resol resin currently dominates the phenolic resin market, owing to its widespread usage in the wood adhesive application. Further, the resin type is also expected to witness the highest growth during the forecast period, owing to its excellent properties including superior heat resistance, high flexibility, mechanical strength, moldability, and excellent friction properties.
Based on the application type, the market is segmented as wood adhesives, molding compound, laminates, insulation, coatings, paper impregnation, foundry, and others. Wood adhesives dominated the market and are expected to remain dominant during the forecast period, owing to rapidly expanding building & construction industry, especially in the developing economies.
Based on the end-user type, the market is categorized as automotive, building & construction, furniture, electrical & electronics, industrial, and others. The automotive industry currently dominates the market and is expected to maintain its dominance over the next five years as well, owing to consistently increasing production of vehicles along with an increasing number of phenolic resin applications, such brake linings, clutch facing, and brake pads.

Players
Some of the major phenolic resin suppliers are Hexion Inc. Hitachi Chemical Co., Ltd., Sumitomo Bakelite Co., Ltd., BASF SE, SI Group, Inc., DIC Corporation, Kolon Industries, Inc., Shandong Laiwu Runda New Material Co., Ltd., Dujodwala Paper Chemicals Ltd., Changshu South-East Plastic Co., Ltd. and Geogria-Pacific Chemicals LLC.

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This release was published on openPR.