Press release
Phenolic Resins Market Set to Witness Y-o-Y Growth by 2026
Phenolic resins or phenol-formaldehyde resins are the synthetic polymers obtained by the polymerization of phenol and formaldehyde. Phenolic resins possess good physical and chemical properties such as high mechanical strength, low toxicity, good heat resistance, low smoke formation and high thermal stability. Due to such high properties, phenolic resins find their applications in myriad industrial products. From molded products such as billiard balls to coatings and adhesives, phenolic resins are used for different applications across various industries such as automotive, electrical & electronics, construction etc. Besides, by mixing phenolic resins with other polymer, they can also be used in applications like corrosion coating, adhesive, etc. Due to their rising demand from various industries, the global phenolic resins market is expected to register high growth rate over the forecast period of 2016-2026.
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Global Phenolic Resins Market Dynamics
Construction, automotive, furniture and electrical & electronics industry are the major end-use sectors for phenolic resins. The holistic growth in these industries is expected to drive the demand for phenolic resins in the global market. Phenolic resins find their huge application in different wood products, which is majorly driven by the construction industry growth. Construction industry, which slowed down during 2014-2015, is expected to return to its growth phase post 2016. The growing construction industry output is further expected to have a positive impact on the global phenolic resins market through 2026. Moreover, increase in demand for various molded products in automotive and aerospace industry is also expected to contribute to the global phenolic resins demand through the forecast period.
Volatility in raw material prices is a major challenging factor for the growth of phenolic resins market. With global focus growing towards the development of green and sustainable products, bio-based resins are expected to gain popularity among consumers, which could also hamper the growth of the conventional synthetic phenolic resins market.
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Global Phenolic resins Market Segmentation
Global phenolic resins market is segmented on the basis of type, application, end-use industry and region.
On the basis of type, global phenolic resin market is segmented as the following
Novolacs (formaldehyde: Phenol < 1)
Resoles (formaldehyde: Phenol > 1)
Modified Phenolic Resins.
On the basis of application, global phenolic resin market is classified as:
Wood-adhesives
Insulation
Lamination
Molding compound
Others
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On the basis of end-use industries, global phenolic resin market is segmented as:
Furniture Industry
Automotive Industry
Electrical & Electronics Industry
Construction Industry
Others
Global Phenolic Resins Market: Regional Outlook
Regionally, global phenolic resins market is segmented into seven key regions, namely, North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Middle East & Africa and Japan. APEJ is expected to emerge as one of the fastest growing regions in the global phenolic resins market due to high rise in demand from construction and furniture industry, majorly in China and India. China is expected to remain a prominent consumer of phenolic resins in the global market throughout the forecast period.
Global Phenolic Resins Market Players:
Some of the key player of global phenolic resins market are Chang Chun Plastics Co. Ltd., Mitsui Chemicals Inc., Georgia Pacific Chemicals LLC, Prefere Resins, Kolon Industries, Inc., Momentive Specialty Chemicals Inc., SI Group, Sumitomo Bakelite Co. Ltd, BASF SE, Hitachi Chemical Co. Ltd., and others.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types and applications.
The report covers exhaustive analysis on:
Market Segments
Market Dynamics
Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Value Chain
Regional analysis includes:
North America
Latin America
Asia Pacific
Japan
Western Europe
Eastern Europe
Middle East & Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors, along with market attractiveness within the segments. The report also maps the qualitative impact of various market factors on market segments and various geographies.
Report highlights:
Detailed overview of parent market
Changing market dynamics in the industry
In-depth market segmentation
Historical, current and projected market size in terms of volume and value
Recent industry trends and developments
Competitive landscape
Strategies of key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on market performance
Must-have information for market players to sustain and enhance their market footprint
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