Press release
Phenolic Resins Market Report 2023: Size, Share, Growth Rate, Industry Trends| Major Key Players And Industry Analysis Till 2032
Phenolic Resins Market
As per the phenolic resins market report by The Business Research Company, The growing need for lightweight, eco-friendly synthetic structures in the automotive industry is driving the phenolic resin market going forward. The automotive industry is concerned with designing, manufacturing, distributing, and sales of automobiles. Automotive manufacturers are constantly using lightweight materials to improve fuel efficiency. Phenolic resins are used in the manufacturing of lightweight tires, brake pedals, and other under-the-hood automotive parts.
The global phenolic resins market size grew from $12.45 billion in 2022 to $13.3 billion in 2023 at a compound annual growth rate (CAGR) of 6.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The phenolic resins market size is expected to grow to $16.63 billion in 2027 at a CAGR of 5.7%.
Read More On The Phenolic Resins Market Report Here:
https://www.thebusinessresearchcompany.com/report/phenolic-resins-global-market-report
Major competitors in the phenolic resins market include Dainippon Ink and Chemicals Corporation, Hexion LLC, Chang Chun Plastics Co. Ltd., Mitsui Chemicals Inc., Hitachi Chemical Co. Ltd., Prefere Resins Holding GmbH, Kolon Industries Inc., SI Group, Sumitomo Bakelite Co. Ltd., BASF SE, Arizona Chemical Company LLC, Kangnam Chemical Co. Ltd., and Seiko PMC Corporation
The phenolic resins market is segmented -
1) By Type: Resol, Novolac, Others Types
2) By Application: Wood Adhesives, Molding, Insulation, Laminates, Paper Impregnation, Friction Materials, Refractory Materials, Other Applications
3) By End-User: Building and Construction, Furniture, Automotive, Electrical and Electronics, Other End Users
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the phenolic resins market.
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Phenolic resins are resins made from the polymerization of phenol and formaldehyde. The resins are known for high chemical, water, and temperature stability. Therefore, they are used in many commercial applications such as electronic circuits, automotive tires, and other automotive parts. Phenolic resins are not re-moldable but are recyclable.
The Table Of Content For The Phenolic resins market Include:
1. Executive Summary
2. Phenolic Resins Market Characteristics
3. Phenolic Resins Market Trends And Strategies
4. Phenolic Resins Market - Macro Economic Scenario
5. Phenolic Resins Market Size And Growth
.......
26. Africa Phenolic Resins Market
27. Phenolic Resins Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Phenolic Resins Market
29. Phenolic Resins Market Future Outlook and Potential Analysis
30. Appendix
The "Global Phenolic resins market Report 2023" from The Business Research Company is a comprehensive report that covers every facet of a market covering over 60 geographies and over 2500 market segments. The regional and country breakdowns section analyzes the market in each geography and the market size by region and country. Furthermore, it assesses the market's historical and projected growth and identifies significant trends and strategies that companies can leverage for business expansion
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