Phenolic resins market will grow at a rate of 5.30% for the forecast period of 2021 to 2028. Rise in the volatility in the production of phenolic resins acts as a vital factor driving the growth of phenolic resins market.
Phenolic resins are also known as phenol–formaldehyde resins which are synthetic polymers and are produced from the reaction of phenol or substituted phenol with formaldehyde at high temperatures. They are hugely applicable in wood adhesives, moulding compounds, and laminates. The resins provide the properties of excellent flame-retardant, showcase high tensile strength, high heat resistance and low toxicity.
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Rise in the demand from the construction and transportation industries is the vital factor escalating the market growth, also rise in the application of phenolic resins in nanotechnology and increase in the demand of phenolic resins for decorative as well as industrial laminated are the major factors among others driving the phenolic resins market. Moreover, rise in the research and development activities will further create new opportunities for the phenolic resins market in the forecast period of 2021- 2028.
However, volatility in crude oil prices and rise in the environmental regulations regarding formaldehyde emissions are the major factors among others acting as restraints, and will further challenge the growth of the phenolic resins market in the forecast period mentioned above.
The major players covered in the phenolic resins market report are
Mitsui Chemicals, Inc.,
Hexion,
BASF SE,
SBHPP,
Aica Kogyo Co., Ltd.,
SI Group, Inc.
LERG SA.,
Shengquan Group,
UCP Chemicals AG,
Tongcheng-Elong,
SHANDONG LAIWU RUNDA NEW MATERIAL CO., LTD,
ALLNEX NETHERLANDS B.V.,
Plenco,
Metadynea International,
Kolon Industries Inc.,
Georgia-Pacific Chemicals LLC,
Prefere Resins Holding GmbH
Chang Chun Group
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This phenolic resins market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on phenolic resins market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Phenolic Resins Market Scope and Market Size
Phenolic resins market is segmented on the basis of product, application and end-use. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- Based on product, the phenolic resins market is segmented into novolac, resole and modified.
- Based on application, the phenolic resins market is segmented into adhesives, insulation, moulding compounds, lamination, paper impregnation, coatings and others.
- The phenolic resins market is also segmented on the basis of end-user into automobiles, electric and electronics, furniture, construction and others.
- Regional Analysis: The report further examines the Phenolic Resins market in the key regions of the world with regard to production and consumption patterns, import/export, supply and demand ratio, revenue generation, market share and size, and presence of prominent players in the regions. The Phenolic Resins report also covers the expansion plans undertaken by companies in the regions under the regional analysis section. The regional analysis of the market comprises of production volume information, consumption volume and patterns, revenue, and growth rate for the forecast period.
According to the regional analysis, the market is primarily spread over key geographical regions as follows:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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