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Phenolic Panel Global Market Report 2024 - By Report, Share, Demand, Size And Analysis, Outlook By 2033
Phenolic Panel Market
Phenolic Panel Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $13.59 billion In 2028 At A CAGR Of 7.9% :
The phenolic panel market size has grown strongly in recent years. It will grow from $3.36 billion in 2023 to $3.64 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to increased use in architectural applications, rising awareness of fire safety, sustainability and environmental concerns, expansion of commercial spaces, use in educational and healthcare facilities.
The phenolic panel market size is expected to see strong growth in the next few years. It will grow to $5.02 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to rise in prefabricated construction, integration in smart building systems, demand for lightweight construction materials, growth in hospitality industry, advancements in material, market expansion in emerging economies. Major trends in the forecast period include innovation in design and finishes, versatility in applications, advancements in manufacturing technologies, digital printing technology, collaborations with architects and designers, fire-resistant technologies.
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Phenolic Panel Market Major Segments
The phenolic panel market covered in this report is segmented -
1) By Type: Sandwich, Plain
2) By Class: Class A, Class B, Other Classes
3) By Application: Interior, Exterior, Furniture, Air Conditioning Duct Panel, Other Applications
4) By End-Use Industry: Construction, Marine, Transportation, Aerospace And Defense, Other End-Users
Key Driver - Surging Phenolic Panel Market Fueled By Booming Construction Industry Growth
The growth in the construction industry is expected to drive the growth of the phenolic panel market going forward. The construction industry refers to the industrial branch of manufacturing and trade related to building, repairing, renovating, and maintaining infrastructures. Because of their flexibility and versatility, phenolic panels are replacing steel and wood designs while offering a longer life span compared to other materials such as wood in construction. For instance, in September 2021, according to Oxford Economics, a UK-based economic information services company, the global construction output by 2030 is anticipated to increase by 42%, or $4.5 trillion, to reach USD 15.2 trillion. Thus, the growth in the construction industry will drive the growth of the phenolic panel market.
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Prominent Trend - Phenolic Panels Market Thrives Amidst Accelerated Urbanization In Developing Nations
Rapid urbanization in developing and emerging nations are expected to drive the phenolic panels market going forward. Urbanization is the process of concentrating people into small geographic areas, which transforms the land for residential, commercial, industrial, and transportation uses. Phenolic panels significantly help create a durable and energy-saving envelope for buildings with an aesthetically pleasing design in residential, commercial, and industrial structures as well as congested urban areas. For instance, according to a report by the UN, an intergovernmental organization responsible for international peace and security, friendly relations among nations, and international cooperation, India's urban population are expected to reach 543 million by 2025. In addition, China's urban population is expected to reach 1.05 billion by 2035. Therefore, rapid urbanization in developing and emerging nations will drive the phenolic panels market in the forecast period.
Phenolic Panel Market Players
Major companies operating in the phenolic panel market report are Asahi Kasei Corporation, ASI Group, Bobrick Washroom Equipment Inc., Broadview Holding BV, Fiberesin Industries Inc., Fundermax GmbH, General Partitions Manufacturing, Kingspan Group plc., Wilsonart International Holdings LLC, Werzalit of America Inc., Trespa International BV, SI Group, Formica Group, Panel Decor Private Limited, Arpa Industriale S.p.A., Abet Laminati S.p.A., OMNOVA Solutions Inc., Greenlam Industries Ltd., Merino Group, Stylam Industries Ltd., Century Plyboards Ltd., Hexcel Corporation, Kolon Industries Inc., Mitsubishi Chemical Corporation, SGL Carbon SE, Solvay SA, Teijin Limited, Alstrong Enterprises India Pvt Ltd., Alubond U.S.A., Aludecor Lamination Pvt. Ltd., Alstone Industries Pvt Ltd., Eurobond Industries Pvt Ltd.
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Largest And Fastest Growing Region In The Market
Europe was the largest region in the phenolic panel market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the phenolic panel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Phenolic Panel Market Report Structure
3. Phenolic Panel Market Trends And Strategies
4. Phenolic Panel Market - Macro Economic Scenario
5. Phenolic Panel Market Size And Growth
…..
27. Phenolic Panel Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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