Press release
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
Phenolic Resin Market | Exactitude Consultancy
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**Note: Version 2023 has been updated.
โ 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
โ 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.
โ 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:
๐Market 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.
๐DIC 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.
๐โ๏ธPhenolic_Resins: The Future of Polymers | Industry Application and Growth ๐ฏ
๐The #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.
๐๐๐ก๐ข๐๐ก ๐ ๐๐๐ญ๐จ๐ซ๐ฌ ๐๐ซ๐ ๐๐ฑ๐ฉ๐๐๐ญ๐๐ ๐ญ๐จ ๐๐ซ๐ข๐ฏ๐ ๐๐๐ฆ๐๐ง๐ ๐๐จ๐ซ ๐๐ก๐๐ง๐จ๐ฅ๐ข๐ ๐๐๐ฌ๐ข๐ง๐ฌ ๐๐ฏ๐๐ซ ๐ญ๐ก๐ ๐๐จ๐ฆ๐ข๐ง๐ ๐๐๐๐ซ๐ฌ?
"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.
๐๐๐ก๐ฒ ๐ข๐ฌ ๐ญ๐ก๐ ๐๐ง๐ข๐ญ๐๐ ๐๐ญ๐๐ญ๐๐ฌ ๐ ๐๐ซ๐จ๐ฆ๐ข๐ง๐๐ง๐ญ ๐๐จ๐ง๐ฌ๐ฎ๐ฆ๐๐ซ ๐จ๐ ๐๐ก๐๐ง๐จ๐ฅ๐ข๐ ๐๐๐ฌ๐ข๐ง๐ฌ?
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.
๐๐๐ก๐ฒ ๐๐ซ๐ ๐๐๐ฌ๐จ๐ฅ ๐๐๐ฌ๐ข๐ง๐ฌ ๐๐๐ญ ๐ญ๐จ ๐๐๐ฆ๐๐ข๐ง ๐๐ข๐ ๐ก๐ฅ๐ฒ ๐๐ญ๐ญ๐ซ๐๐๐ญ๐ข๐ฏ๐?
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.
๐๐๐ก๐ข๐๐ก ๐๐ก๐๐ง๐จ๐ฅ๐ข๐ ๐๐๐ฌ๐ข๐ง ๐๐ฉ๐ฉ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง ๐ข๐ฌ ๐๐ซ๐๐๐ข๐๐ญ๐๐ ๐ญ๐จ ๐๐ซ๐ข๐ง๐ ๐ข๐ง ๐๐ข๐ ๐ก ๐๐๐ฏ๐๐ง๐ฎ๐?
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
โ 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.
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