Phenolic Resins Market Share 2023: Trends, Key Players, Industry Analysis and Forecast 2023-2029

The global phenolic resins market is estimated to grow at a CAGR of nearly 5.6% during the forecast period. Emerging applications across major industries, including electrical and electronics, consumer goods, automotive, and others are primarily driving the market growth. Phenolic resins can be applied for the development of several kinds of substrates that are used in the production of electrical laminates. Electrical laminates have several applications ranging from electronic components that are used in printed circuit boards to electrical isolation materials utilized in electrical machinery, generators, and transformers. In the textile industry, laminates that possess electrical isolation properties are used primarily in tubes owing to their extreme dielectric strength.

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Electrical laminates are produced as per the global and national standards. Apart from EN 60893, German DIN 7735 and the USA NEMA LI-1 standards are of specific importance. A considerable amount of resin is used to produce substrates which make the laminates hydrophobic. Phenolic resin possesses better chemical and corrosive resistance and maintains its strength at high temperatures, and resists creep under load. These resins are extensively used in household appliances owing to their excellent thermal and dimensional stability, and electrical resistance, as well as resistance to solvents and water. The structural composite gratings and pipes manufacturers for applications in offshore oilrigs use phenolic resins, as there is a constant threat of fire in offshore oil rigs.

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Phenolic resins are also useful to design glassy carbon articles including rocket nozzles, heat shields for missiles, crucibles for melting rare earth metals, special analytical electrodes, and very high-temperature bearings and seals. Automotive applications of phenolic resins include brake linings, clutch facings, and brake blocks and pads. Further, the rising demand for lightweight materials in vehicles is supporting the adoption of phenolic resins. Phenolic resins are lightweight, provides superior corrosion and temperature resistance up to 300 - 350°C, and fine machinable. This, in turn, is contributing to the adoption of phenolic resins in the automotive industry.

In aerospace and defense, the adoption of phenolic resin-based composites has increased over the years. Armor and panels for ships and boats, military vehicles, and personal protective equipment including bulletproof jackets and helmets require extreme strength with properties including excellent flame, smoke and toxicity (FST) performance and fire resistance. Composites produced from phenolic resins incorporate such characteristics and meet a range of military standards. Composites based on phenolic resin-based are ideal for both exterior and interior applications and can be processed through compression molding or pre-preg. Excellent properties of phenolic resins have emerged its applications in several industries, which, in turn, is contributing to the growth of the global phenolic resins market.

Global Phenolic Resins Market- Segmentation

By Product Type

Novolac
Resol
Others

By Application

Adhesive
Molding
Insulation
Coatings
Laminates
Others

By End-Use Industry

Automotive and Transportation
Aerospace and Defense
Building and Construction
Electrical and Electronics
Consumer Goods
Others

Global Phenolic Resins Market- Segment by Region

North America

United States
Canada

Europe

Germany
United Kingdom
France
Spain
Italy
Rest of Europe

Asia-Pacific

China
Japan
India
Rest of Asia-Pacific

Rest of the World

Middle East & Africa
Latin America

Company Profiles

Arclin, Inc.
Ashland Global Holdings Inc.
ASK Chemicals GmbH
BASF SE
Changshu South-East Plastic Co., Ltd.
DIC Corp.
Dujodwala Paper Chemicals Ltd.
Fenolit d.d.
Hexcel Corp.
Hexion Inc.
Kangnam Chemical Co.‚ Ltd.
Koch Industries, Inc.

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