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Phenolic Resin Market Future Scope, Revenue Opportunities, Top Industry Players like Bakelite Synthetics, Sumitomo Bakelite Company Limited, SI Group Inc. and Regional Forecast to 2029

09-04-2023 12:33 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Exactitude Consultancy

Phenolic Resin Market | Exactitude Consultancy

Phenolic Resin Market | Exactitude Consultancy

The Phenolic Resin Market Insights of 2023 study is a thorough examination of the market's size, shares, revenues, major segments, drivers, trends, growth, and development. The study also identifies limiting variables and regional industrial presence that may have an impact on market growth trends beyond the projection period of 2029. The market research seeks to gain a comprehensive grasp of the industry's potential and to provide insights that will assist firms in making educated decisions.

Get a Sample PDF Copy of the Report:

https://exactitudeconsultancy.com/reports/12081/phenolic-resin-market/#request-a-sample

**Note: Version 2023 has been updated.

โœ” What does this report offer?

Market size (historical and future), market growth, technical trends, market share, market dynamics, competitive landscape, and key players are all factors to consider.

Development trends, competitive landscape analysis, supply-side analysis, demand-side analysis, year-over-year growth, competitive benchmarking, vendor identification, CMI quadrant, and other significant analysis, as well as development status.

Recent market developments and projected growth prospects, geographical reports that can be tailored to demand

โœ” What size is the Phenolic Resin Market:

Global Phenolic Resin Market growing at a CAGR of 4.5%, and it is expected to reach USD 16.64 billion by 2029, over the forecast period 2023-2029.

โœ” Who are the key industry players?

Bakelite Synthetics, Sumitomo Bakelite Company Limited, SI Group Inc., Jinan Shengquan Group Share Holding Co., Ltd., Ashland Global Holdings, Inc., BASF SE, Georgia-Pacific Chemicals', DIC Corp, Hexcel Corporation, Akrochem Corporation

Recent Developments:

๐Ÿ‘‰Market players such as 3M and Arizona Chemicals are continuously performing research & development to increase the strength of phenolic resins to be used in fire retardants, sealant coatings, etc.

๐Ÿ‘‰DIC Corporation's phenolic resins PHENOLITE is gaining huge attention across industries due to its improved properties such as flame resistance, cost-effective, high tensile strength, and chemical resistance.

๐Ÿ”’โœˆ๏ธPhenolic_Resins: The Future of Polymers | Industry Application and Growth ๐ŸŽฏ

๐ŸŒThe #phenolic_resins are one of the most popular and versatile high-volume resin systems. Although they were developed at the very beginning of the #polymer era, they have been developed for an increasing number of #applications.

๐Ÿ‘‰๐–๐ก๐ข๐œ๐ก ๐…๐š๐œ๐ญ๐จ๐ซ๐ฌ ๐š๐ซ๐ž ๐„๐ฑ๐ฉ๐ž๐œ๐ญ๐ž๐ ๐ญ๐จ ๐ƒ๐ซ๐ข๐ฏ๐ž ๐ƒ๐ž๐ฆ๐š๐ง๐ ๐Ÿ๐จ๐ซ ๐๐ก๐ž๐ง๐จ๐ฅ๐ข๐œ ๐‘๐ž๐ฌ๐ข๐ง๐ฌ ๐Ž๐ฏ๐ž๐ซ ๐ญ๐ก๐ž ๐‚๐จ๐ฆ๐ข๐ง๐  ๐˜๐ž๐š๐ซ๐ฌ?
"High Demand for Phenolic Resins from Construction Industry"
With the ever-growing construction industry, the market for phenolic resins has been proliferating over the past decades. Moreover, the furniture industry has increased the lucrative use of phenolic resins as an adhesive agent due to their high binding properties.

Novolac is a type of phenolic resin that is reputed as an excellent binding agent and is in high demand in the furniture industry. Novolac resin is a prime choice for plywood manufacturers due to its low resistance to heat, and is easy to be used as an adhesive.

๐Ÿ‘‰๐–๐ก๐ฒ ๐ข๐ฌ ๐ญ๐ก๐ž ๐”๐ง๐ข๐ญ๐ž๐ ๐’๐ญ๐š๐ญ๐ž๐ฌ ๐š ๐๐ซ๐จ๐ฆ๐ข๐ง๐ž๐ง๐ญ ๐‚๐จ๐ง๐ฌ๐ฎ๐ฆ๐ž๐ซ ๐จ๐Ÿ ๐๐ก๐ž๐ง๐จ๐ฅ๐ข๐œ ๐‘๐ž๐ฌ๐ข๐ง๐ฌ?
The U.S is a leading producer of automotive accessories and electronic & electrical components, and has acquired nearly 87.8% of the phenolic resin market share in North America.

The U.S. stands out in the market of phenolic resins for rising demand from the automotive and aerospace industries. The U.S. is home to leading aircraft manufacturers such as Boeing, Lockheed Martin, and United Technology. As phenolic resins are used for thermal jacketing aircraft, the U.S. poses to be a prominent demand generator for phenolic resins.

๐Ÿ‘‰๐–๐ก๐ฒ ๐š๐ซ๐ž ๐‘๐ž๐ฌ๐จ๐ฅ ๐‘๐ž๐ฌ๐ข๐ง๐ฌ ๐’๐ž๐ญ ๐ญ๐จ ๐‘๐ž๐ฆ๐š๐ข๐ง ๐‡๐ข๐ ๐ก๐ฅ๐ฒ ๐€๐ญ๐ญ๐ซ๐š๐œ๐ญ๐ข๐ฏ๐ž?
Resol resins is the most attractive category in the market due to their diversified use in construction, furniture, automotive, electrical & electronics, and much more.

Hike in the market for resol resins is due to increase in application in adhesives, plywood and laminate composites. Additionally, demand is driven by rapid growth in the automobile and construction & building industries.

๐Ÿ‘‰๐–๐ก๐ข๐œ๐ก ๐๐ก๐ž๐ง๐จ๐ฅ๐ข๐œ ๐‘๐ž๐ฌ๐ข๐ง ๐€๐ฉ๐ฉ๐ฅ๐ข๐œ๐š๐ญ๐ข๐จ๐ง ๐ข๐ฌ ๐๐ซ๐ž๐๐ข๐œ๐ญ๐ž๐ ๐ญ๐จ ๐๐ซ๐ข๐ง๐  ๐ข๐ง ๐‡๐ข๐ ๐ก ๐‘๐ž๐ฏ๐ž๐ง๐ฎ๐ž?
Insulation application of phenolic resins is likely to be attractive due to increased end uses in the automobile and electrical & electronics sectors, which is creating demand and driving the market

โœ” What precisely is market segmentation?

Global Phenolic Resin Market by Type, 2023-2029, (USD Million) (Kilotons)

Resol

Novolac

Global Phenolic Resin Market By Application Type, 2023-2029, (USD Million) (Kilotons)

Wood Adhesives

Laminates

Foundry & Moldings

Paper Impregnation

Coatings

Insulations

Global Phenolic Resin Market by End Use Industry, 2023-2029, (USD Million) (Kilotons)

Automotive and Transportation

Consumer Electronics

Building and Construction

Oil and Gas

Furniture

Other

The study of the effects of the Russia-Ukraine War and COVID-19 on Phenolic Resin industry will be added to the final report.

The market for Phenolic Resin has been thoroughly researched for this research report using both primary and secondary sources. Along with a competitive analysis of the market, segmented by application, type, and geographical trends, it offers a comprehensive overview of the market's present and future goals. Additionally, a dashboard analysis of the previous and current performance of top organizations is provided. To ensure accurate and thorough information about the Phenolic Resin Market, a range of approaches and analysis are utilized in the study.

Click to get exclusive facts, information, crucial statistics, trends & Detailed TOC:

https://exactitudeconsultancy.com/reports/12081/phenolic-resin-market/

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Exactitude Consultancy is a Market Research And consulting services firm which helps its client to address their most pressing strategic and business challenges. Our market research helps clients to address critical business challenges and also helps make optimized business decisions with our fact-based research insights, market intelligence, and accurate data.

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