Press release
Phenolic Resins Market Growth to be Driven by Emerging Trends | $19.69 Billion by 2029
Phenolic Resins
What is the Projected Market Size of the Phenolic Resins Industry?
Recent years have seen robust growth in the size of the phenolic resins market. This trend is expected to continue, with the market set to expand from $14.17 billion in 2024 to $14.88 billion in 2025, boasting a compound annual growth rate (CAGR) of 5.0%. The driving factors behind this growth during the historic period include an expanding automotive and construction sector, surge in the demand for long-lasting and fire-resistant materials, growth of electrical and electronics industries, the implementation of fire safety regulations, and the development of composite materials.
What Will Be the Size of the Phenolic Resins Market by 2029?
The market for phenolic resins is projected to experience substantial growth in the forthcoming years, with an estimated valuation of $19.69 billion in 2029, at a compound annual growth rate (CAGR) of 7.3%. The anticipated advancement can be linked to factors such as the emergence of eco-friendly resin formulations, expanding application scopes in aerospace and aviation, increased usage in renewable energy solutions, innovative research and development in bio-based resins, application in consumer products and appliances, and specially designed phenolic resins to meet certain industry requirements. Furthermore, the future trends in this market segment are expected to be bio-phenolic resins derived from lignin and biomass, advanced composite materials incorporated with phenolic resins, fire-resistant coatings and materials, utilization in 3D printing and the recycling and upcycling of phenolic resins.
Explore The Complete Report Now:
https://www.thebusinessresearchcompany.com/report/phenolic-resins-global-market-report
What Are the Key Drivers Accelerating Growth in the Phenolic Resins Market?
The phenolic resin market is gaining momentum due to the increasing demand for lightweight, environmentally friendly synthetic constructs in the automotive industry. The automotive sphere is focused on the creation, production, distribution, and selling of vehicles. Car makers are consistently employing lightweight materials to augment fuel effectiveness. Phenolic resins play a key role in creating lightweight tires, brake pedals, and other similar automotive components. For instance, the US Office of Energy Efficiency and Renewable Energy, a government entity committed to promoting a clean energy American economy, demonstrates that a 10% decrease in an automobile's weight can boost fuel efficiency by 6%-8%. Moreover, using lightweight materials in a quarter of the U.S. fleet could save roughly 5 billion gallons of fuel per year by 2030. As a result, the rising use of lightweight materials in the automotive industry is further stimulating the progress of the phenolic resin market.
Get Free Sample Report Here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=7838&type=smp
How Is the Phenolic Resins Market Segmented by Type, Application, and Region?
The phenolic resins market covered in this report is segmented -
1) By Type: Resol, Novolac, Others Types
2) By Application: Wood Adhesives, Molding, Insulation, Laminates, Paper Impregnation, Friction Materials, Refractory Materials, Other Applications
3) By End-User: Building and Construction, Furniture, Automotive, Electrical and Electronics, Other End Users
Subsegments:
1) By Resol: Low-Viscosity Resol Resins, High-Viscosity Resol Resins, Phenolic Novolac Resins
2) By Novolac: Liquid Novolac Resins, Solid Novolac Resins, Thermosetting Novolac Resins
3) By Other Types: Modified Phenolic Resins, Bakelite Resins, Phenolic Foam Resins
What Are the Key Trends Driving Growth in the Phenolic Resins Market?
Key players in the phenolic resins market, such as the REZIANCE brand portfolio, are exploring innovative products to offer dependable services to their clients. The REZIANCE brand, which specializes in phenolic resins and tailor-made solutions for casting and industrial purposes, was launched by the Germany-based industrial resins and materials provider ASK Chemicals Group in March 2022. It features top-notch phenolic resins and specialty solutions, catering to a range of industries including friction, abrasives, refractories, impregnation, wood, paint, and coatings.
Customize Your Insights And Get The Full Report Here:
https://www.thebusinessresearchcompany.com/customise?id=7838&type=smp
Who Are the Leading Companies Driving Growth in the Phenolic Resins Market?
Major companies operating in the phenolic resins market include Dainippon Ink and Chemicals Corporation, Hexion LLC, Chang Chun Plastics Co. Ltd., Mitsui Chemicals Inc., Hitachi Chemical Co. Ltd., Prefere Resins Holding GmbH, Kolon Industries Inc., SI Group Inc., Sumitomo Bakelite Co. Ltd., BASF SE, Arizona Chemical Company LLC, Kangnam Chemical Co. Ltd., Seiko PMC Corporation., Bakelite Synthetics, Jinan Shengquan Group Share Holding Co. Ltd., Ashland Global Holdings Inc., Georgia-Pacific Chemicals LLC, Hexcel Corporation, Akrochem Corporation, Arclin Inc., Kraton Corporation, American Micro Industries Inc., Momentive Specialty Chemicals Inc., Plenco Closures Pvt. Ltd., Red Avenue Chemical Co. Ltd., Shandong Laiwu Runda New Material Co. Ltd., 3M Company, Capital Resin Corporation, Kessler Chemicals, KPL International Ltd., PTTGC America LLC, Phenolic Associates Inc.
Which Is the Leading Region in the Global Phenolic Resins Market?
North America was the largest region in the phenolic resins market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the phenolic resins market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Speak With Our Expert: Saumya Sahay: Americas +1 310-496-7795: Asia +44 7882 955267 & +91 8897263534: Europe +44 7882 955267: Email: saumyas@tbrc.info: The Business Research Company - www.thebusinessresearchcompany.com: Follow Us On: LinkedIn: https://in.linkedin.com/company/the-business-research-company
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Phenolic Resins Market Growth to be Driven by Emerging Trends | $19.69 Billion by 2029 here
News-ID: 4159113 • Views: …
More Releases from The Business Research Company
Aprotic Solvents Market to Surpass $22.73 Billion by 2029 | Key Trends & Insight …
Get 30% off global market reports with code ONLINE30 and keep ahead of tariffs, macro trends, and worldwide economic developments.
How Will the Aprotic Solvents Market Grow by 2025 in Terms of Size and Growth?
The market size for aprotic solvents has seen a slight downturn in the past few years. The market is predicted to rise from "$20.45 billion in 2024 to $20.41 billion in 2025 with a compound annual growth…
Powered Mobility Devices Industry Set to Achieve $6.07 Billion Milestone by 2029 …
Get 30% off global market reports with code ONLINE30 and keep ahead of tariffs, macro trends, and worldwide economic developments.
What Is the Long-Term Growth Forecast for the Powered Mobility Devices Market Size 2025?
In recent times, there has been robust growth in the size of the powered mobility devices market. The market is anticipated to expand from a worth of $4.42 billion in 2024 to $4.72 billion in 2025, showing a…
Global Agricultural Surfactants Market Worth $2.42 Billion by 2029, Growing at 6 …
Use ONLINE30 for 30% savings on global market reports and stay on top of tariff updates, market trends, and economic shifts worldwide.
Agricultural Surfactants Market Outlook: What Size And CAGR Are Anticipated By 2025?
The market size of agricultural surfactants has been on a robust growth trajectory in the past few years. The sector, which was valued at $1.75 billion in 2024, is projected to see an uptick to $1.86 billion in…
Pharmaceutical Cold Chain Packaging Market to Surpass $48.34 Billion by 2029 | K …
Get 30% off global market reports with code ONLINE30 and keep ahead of tariffs, macro trends, and worldwide economic developments.
How Will the Pharmaceutical Cold Chain Packaging Market Grow by 2025 in Terms of Size and Growth?
The market for pharmaceutical cold chain packaging has seen considerable expansion lately. Its valuation is anticipated to climb from $23.44 billion in 2024 to $27.14 billion in 2025, reflecting a compound annual growth rate (CAGR)…
More Releases for Resin
Alkyd Resin Market
The "Alkyd Resin Market" is expected to reach USD xx.x billion by 2031, indicating a compound annual growth rate (CAGR) of xx.x percent from 2024 to 2031. The market was valued at USD xx.x billion In 2023.
Growing Demand and Growth Potential in the Global Alkyd Resin Market, 2024-2031
Verified Market Research's most recent report, "Alkyd Resin Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2030," provides an in-depth examination…
Water Based Amino Resin Market Size, Share and Forecast By Key Players-BASF, Hex …
𝐔𝐒𝐀, 𝐍𝐞𝐰 𝐉𝐞𝐫𝐬𝐞𝐲- According to the MRI Team's Market Research Intellect, the global Water Based Amino Resin market is anticipated to grow at a compound annual growth rate (CAGR) of 16.58% between 2024 and 2031. The market is expected to grow to USD 68 Billion by 2024. The valuation is expected to reach USD 199.02 Billion by 2031.
The market for water-based amino resin is expanding rapidly due to the growing…
Solvent Based Amino Resin Market Size, Share and Forecast By Key Players-BASF, A …
𝐔𝐒𝐀, 𝐍𝐞𝐰 𝐉𝐞𝐫𝐬𝐞𝐲- According to the MRI Team's Market Research Intellect, the global Solvent Based Amino Resin market is anticipated to grow at a compound annual growth rate (CAGR) of 16.57% between 2024 and 2031. The market is expected to grow to USD 45.6 Billion by 2024. The valuation is expected to reach USD 133.38 Billion by 2031.
The market for solvent-based amino resin is expanding significantly due to its extensive…
Alkyd Resin Market
According to the latest research report published by Market Data Forecast, the global alkyd resin market is expected to grow at a CAGR of 3.32% during the forecast period 2024-2029. The market value was at USD 2.89 billion in 2023, and the value is expected to reach USD 3.52 billion by the end of 2029.
Alkyd resin is the oil-modified complex polyester that acts as a film-forming agent in paints and…
Composite Resin
According to a new market research report published by Global Insight Services "Composite Resin Market" is expected to grow by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Download Sample of Report : https://www.globalinsightservices.com/request-sample/GIS20852
Composite resin…
Polyethylene Naphthalate Resin (PEN Resin) Market 2022 | Detailed Report
The research reports on "Polyethylene Naphthalate Resin (PEN Resin) Market" report gives detailed overview of factors that affect global business scope. Polyethylene Naphthalate Resin (PEN Resin) Market report shows the latest market insights with upcoming trends and breakdowns of products and services. This report provides statistics on the market situation, size, regions and growth factors. An exclusive data offered in this report is collected by research and industry experts team.
Download…
