Press release
Phenolic Resins Industry: Predicting Applications in Adhesives and Coatings (2023-2033)
For a range of uses, including adhesives, moulding powders, binders, laminating resins, surface coatings, and impregnants, phenolic resins continue to gain substantial popularity. According to PMR analysis, phenolic resin sales were valued at US$6,516 million globally in 2018 and are anticipated to increase by 3% in 2019.
The global phenolic resins market is experiencing significant expansion as industries across various sectors embrace high-performance composite materials. Phenolic resins, renowned for their exceptional strength, heat resistance, and chemical stability, are finding widespread applications in industries such as automotive, aerospace, construction, and electrical.
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One of the key drivers behind the market's growth is the increasing demand for lightweight and durable materials in the automotive and aerospace sectors. Phenolic resins, with their excellent mechanical properties and flame-retardant characteristics, are being used in the production of lightweight composite components. These components help enhance fuel efficiency in vehicles, reduce carbon emissions, and improve overall performance.
The construction industry is also contributing to the expansion of the phenolic resins market. The growing focus on energy-efficient buildings and sustainable construction materials has led to the increased adoption of phenolic resin-based composites. These materials offer superior fire resistance, thermal insulation, and durability, making them ideal for applications such as insulation boards, laminates, and structural panels.
Moreover, the electrical industry is recognizing the benefits of phenolic resins in electrical insulation applications. The excellent electrical insulating properties of phenolic resins, combined with their heat resistance and low smoke generation, make them a preferred choice for electrical components, circuit boards, and insulation materials. The increasing demand for reliable and safe electrical systems is driving the growth of the phenolic resins market in this sector.
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As industries embrace the need for high-performance composite materials, the global phenolic resins market is expanding rapidly. The remarkable properties of phenolic resins, including their strength, heat resistance, and chemical stability, make them an attractive choice for a wide range of applications. With ongoing advancements in composite technology and the growing demand for lightweight and durable materials, the phenolic resins market is poised for continued growth.
Companies Covered in This Report -
• DIC Corporation
• Hexion LLC
• Chang Chun Plastics Co. Ltd.
• Mitsui Chemicals Inc.
• Georgia Pacific Chemicals LLC
• Prefere Resins
• Kolon Industries, Inc.
• SI Group
• Sumitomo Bakelite Co. Ltd
• BASF SE
• Hitachi Chemical Co. Ltd.
• Plastics Engineering Company
• RPM International Inc.
• KCC Corporation
• Altex Coatings Inc.
• Nippon Paint Marine Coatings Co., Ltd.
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Phenolic Resins Market - Segmentation
Product
• Novolac
• Resoles
• Modified
Application
• Adhesives
• Insulation
• Molding Compounds
• Lamination
• Others
End Use
• Automobile
• Electric and Electronics
• Furniture
• Construction
• Others
Region
• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East & Africa
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