Press release
Phenolic Resins Market is Set to Garner Staggering Revenues by 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.
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 followingNovolacs (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, 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.
To view TOC of this report is available upon request @ https://www.persistencemarketresearch.com/toc/11146
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.
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