Phenolic Resins Market to depict appreciable growth prospects over 2019-2025 | Key players- BASF SE, Hitachi Chemical Co. Ltd., Momentive Specialty Chemicals, among others

A recent report published by QMI on Phenolic Resins market is a detailed assessment of the most important market dynamics. After carrying out thorough research on the market of Phenolic Resins historical as well as current growth parameters, business expectations for growth are obtained with utmost precision. The study identifies specific and important factors affecting the market for Phenolic Resins during the forecast period. It can enable manufacturers of Phenolic Resins to change their production and marketing strategies in order to envisage maximum growth.

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Understanding the chemistry and uses of Phenolic Resins:

Phenolic Resins are the synthetic polymers that are manufactured from the reaction of formaldehyde and phenol. They have properties such as low toxicity, high mechanical strength, and high heat resistance. It is also water-resistant, which makes it great for use in many applications. The physical and chemical properties of phenolic resins have resulted in the use of them in many niche segment applications such as off-shore oil drilling, which utilizes materials with high heat resistance.
The market for phenolic resins is segmented into type, application, and end-users. Based on the type, the market is segmented into novolac and resol. The resol resin segment is leading since it has high use in wood adhesives because of its properties like heat resistance, moldability, flexibility, and friction.

Based on the application, it is divided into Wood Adhesives, Molding, and Insulation. The application in the wood adhesives segment is the largest, as the construction industry is growing at a rapid pace, which in turn is increasing the demand for wood adhesives. As it is water-resistant, it is used in durable adhesives and binders in structural wood panels and wool insulation. Also, the low thermal conductivity of phenolic resin is useful in the insulation materials.

By the end-users, it is segmented into automotive, building & construction, and furniture. The automotive segment is the largest end-user due to the boom in automobile sales. These resins are also used in brake pads, and brake linings. The phenolic resin is used extensively in automobile and electrical switches as it has excellent heat resistance.

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Important Factors Impacting Market Growth:

o Growth of the end-user industries
o Increasing demand from the tire industry

Regional Analysis:

Based on region, the phenolic resins market has been segmented by North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, & Rest of the World. North America and Western Europe being some of the major markets are also traditional suppliers of chemicals such as specialty chemicals, bulk chemicals, and so on. Major companies in this market are headquartered in North America and Western Europe. This region has been witnessing a number of transitions in terms of productions of chemicals and respective applications by end-use industries.

The Asia Pacific and Middle East are expected to register substantial growth in the phenolic resins market during the forecast period. This demand is with regard to the growth of major end-use industries such as automotive, building & construction, furniture. Major countries in Asia Pacific region include China, South Korea, Japan, India, Australia, and so on.

Eastern Europe has been largely dominated by Russia and Turkey with operations of major chemical giants in the region. Rest the World that includes South America and Africa has a strong potential for phenolic resins market. There have been an increasing number of investments by global companies in these regions to strengthen their presence and tap the potential market. Major economies in these regions for the phenolic resin market include Brazil, South Africa, Nigeria, Argentina, Colombia, and others.

Companies Covered: BASF SE, Hitachi Chemical Co. Ltd., Momentive Specialty Chemicals, SI Group, Mitsui Chemical Inc., DIC Corporation and Sumitomo Bakelite Co. Ltd

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Market Segmentation:

By Type:
o Novolac
o Resol

By Application:
o Wood Adhesives
o Molding
o Insulation

By End-Users:
o Automotive
o Building & Construction
o Furniture

By Region:

o North America
o By Country (US, Canada, Mexico)
o By Type
o By Application
o By End-Users

o Western Europe
o By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
o By Type
o By Application
o By End-Users

o Eastern Europe
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Type
o By Application
o By End-Users

o Asia Pacific
o By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
o By Type
o By Application
o By End-Users

o Middle East
o By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
o By Type
o By Application
o By End-Users

o Rest of the World
o By Region (South America, Africa)
o By Type
o By Application
o By End-Users

Reasons To Buy This Report:

o Market size estimation of the global Phenolic Resins Market on a regional and global basis
o Unique research design for market size estimation and forecast
o Profiling of major companies operating in the market with key developments
o Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:
o By Segment
o By Sub-segment
o By Region/Country

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This release was published on openPR.