Lucintel anticipates that Thailand will be the fastest growing region in the South East Asian phenolic resin market

According to a new market report published by Lucintel, the future of the South East Asian phenolic resin market looks promising with opportunities in construction, transportation, electrical and electronics, and furniture end use industries. The South East Asian phenolic resin market is expected to grow at an estimated CAGR of 5.5% from 2019 to 2024. The major drivers for this market are increasing use of materials with fire retardant, heat resistance, and anti-corrosive properties in end use applications.

In this market, wood adhesive, molding compounds, decorative laminates, insulation, coating, and paper impregnation are the major applications. On the basis of its comprehensive research, Lucintel forecasts that the molding compound is expected to remain the largest application segment by value due to high heat resistance, mechanical strength and electrical properties and is used in automotive, aerospace, electronics and industrial market. Wood adhesive will experience the highest growth over the forecast period supported by increasing demand for adhesives in furniture, water proof construction panels, beams, and marine plywood.

With in this market, construction, transportation, electrical and electronics, furniture and industrial are the major end use industry. On the basis of its comprehensive research, Lucintel forecasts that the construction is expected to remain the largest segment by value and volume.
Resole phenolic resin and novolac phenolic resin are the major resins used to manufacture wood adhesive, molding compound and laminates. On the basis of comprehensive research, Lucintel forecasts that the resole phenolic resin segment is expected to remain the largest segment by value and volume due to superior heat resistance, higher mechanical strength, moldability, and excellent friction properties.

Thailand is expected to remain the largest region by value and volume; Thailand is also expected to experience the highest growth over the forecast period due to increasing automotive production, and growth in construction and electrical and electronics industry.

Emerging trends, which have a direct impact on the dynamics of the industry, includes the use of bio based phenolic resin and rosin modified phenolic resin. Sumitomo, AICA KOGYO, Thai GCI Resitop, Malayan Adhesives and Chemicals, and Astachem are among the major suppliers of the phenolic resin market.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the South East Asia phenolic resin market by application, Resin type, end use industry, region, and country. Lucintel has prepared a comprehensive research report entitled, “Growth Opportunities in the South East Asian Phenolic Resin Market 2020-2025: Trends, Forecast, and Opportunity Analysis”. The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions.
The study includes a forecast for South East Asian phenolic resin market by application, type, end use industry, region, and country as follows:

By application (Value ($M) and Volume (M lbs) shipment analysis for 2013 – 2024):

• Wood Adhesive
• Molding Compounds
• Laminates
• Insulation
• Coating
• Paper Impregnation
• Others

By Resin Type (Value ($M) and Volume (M lbs) shipment analysis for 2013 – 2024):
• Resol Phenolic Resin
• Novolac Phenolic Resin

By End Use Industry (Value ($M) and Volume (M lbs) shipment analysis for 2013 – 2024):
• Construction
• Transportation
• Electrical and Electronics
• Furniture
• Industrial
• Others

By Country (Value ($M) and Volume (M lbs) shipment analysis for 2013 – 2024):
• Thailand
• Singapore
• Malaysia
• Indonesia
• Philippines
• Vietnam

This 150 page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com. Lucintel offerings include Chemical Market Research Reports, Chemical Industry Analysis Report, Opportunity Screening and Analysis, Strategic Growth Consulting and Due Diligence.

This report answers the following 11 key questions:

Q.1 What are some of the most promising, high-growth in South East Asian phenolic resin market by application (wood adhesive, molding compounds, laminates, insulation, coating, paper impregnation, and others), by resin type (resol phenolic resin and novolac phenolic resin), by end use industry (construction, transportation, electrical and electronics, furniture, and others) and country (Thailand, Singapore, Malaysia, Indonesia, Philippines, Vietnam and Others )?
Q.2 Which product segments will grow at a faster pace and why?
Q.3 Which region will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges in the market?
Q.5 What are the business risks and competitive threats in this market?
Q.6 What are emerging trends in this market and reasons behind them?
Q.7 What are some changing demands of customers in the market?
Q.8 What are the new developments in the market and which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products in this area and how great a threat do they pose for loss of market share through product substitution?
Q.11 What M&A activities have transpired in the last 5 years in this market and what impact have these had on the industry?

Lucintel, 8951 Cypress Waters Blvd., Suite 160, Dallas, TX 75019

marketing@lucintel.com

+1-972-636-5056

Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

This release was published on openPR.