Phenolic Resin Market is Forecasted to Reach US$ 7.2 billion in 2028, Says Stratview Research

The global phenolic resin market is projected to witness a growth rate of 3.6% annually from 2023 to 2028, with an anticipated size of US$ 7.2 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global phenolic resin market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:
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Report Highlights:
Market Size in 2028: US$ 7.2 billion
Growth (CAGR): 3.6% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 3
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Phenolic Resin Market:
The global phenolic resin market is segmented based on application type, resin type, and region.
Based on application type - The phenolic resin market is segmented into wood adhesives, molding compounds, laminates, refractories, insulation, and others. Wood adhesives dominated the market and are expected to remain the dominant application during the forecast period, owing to rising wood-based panel production, increasing demand for phenolic resin in wood adhesive applications, and increasing usage of wood panels in different applications.

Based on the resin type - The market is segmented into resole and novolac. Resole is expected to remain the dominant as well as the fastest-growing resin type in the market during the forecast period owing to its excellent combination of properties, such as high strength and durability, water resistance, heat resistance, resistance to a wide range of chemicals, and ease of use.

To know the most attractive segments, click here for a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/441/Phenolic-Resin-Market.html#form

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Asia-Pacific is expected to remain the largest as well as the fastest-growing market for phenolic resins during the forecast period. This growth outlook is majorly attributed to the following-
- Growing investment in various industries, including automotive, construction, electrical & electronics, and rising disposable income are some key factors that drive the region's market.
- China is the leading producer and consumer of phenolic resin. India and Japan are the other key countries in the region.
Europe and North America are the other two major phenolic resin markets and will likely exhibit healthy growth rates over the next five years.

Phenolic Resin Market Drivers:

Some of the key drivers listed in the report are given below.
- The increasing growth rate of automotive, aerospace, construction, electronics, and packaging industries, growing demand for phenolic resins for different applications.
- The key properties of phenolic resin, such as high strength, durability, water, chemical, heat, and fire resistance, and dimensional stability are likely to fuel the growth of the market during the forecast period.

Top Companies in the Phenolic Resin Market:
Stratview Research has identified the following companies as the top market players (Based on Dominance).
• Bakelite Synthetics
• Dynea SA
• Jinan Shengquan Group Share-Holding Co., Ltd.
• Prefere Resins Holding GmbH
• Shandong Yushiju Chemical Co., Ltd.
• Sumitomo Bakelite Co., Ltd.

What Unique Insights Does this Report Offer?

This report provides comprehensive insights into the Phenolic Resin Market, answering critical questions like:

• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

Related Reports:

• Petroleum Resin Market: https://www.stratviewresearch.com/563/petroleum-resin-market.html

• Phenolic Resin Market for Wood Processing: https://www.stratviewresearch.com/3587/phenolic-resin-market-for-wood-processing.html

About Us:
Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.

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400 Renaissance Center, Suite 2600,
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United States of America

Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.

This release was published on openPR.