Phenolic Resins Market Outlook to 2025: Top Manufacturer Analysis, Industry Overview and Forecast Report

Posted on 2021-12-01 by researchinsights in Chemicals // 0 Comments

San Jose, California , USA, Dec 01, 2021 — /EPR Network/ —

The Phenolic Resins Market report provides a detailed evaluation of the industry by highlighting information on different aspects which include drivers, restraints, growth opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing. It also provides a detailed analysis of global market size, regional and country-level market size, competitive landscape, impact of domestic market players and value chain optimization. Furthermore, it sheds light on the market contribution, recent developments and successful marketing strategies of leading companies.

Market Insights

The global phenolic resins market size was valued at USD 9.30 billion in 2015 and is expected to reach USD 16.0 billion by 2025, with a CAGR of 5.4%. The global phenolic resins industry is anticipated to witness stable growth owing to rising demand from transportation and construction sector. Phenolic resins find their applications in numerous segment son account of their properties such as good heat resistance and flame retardancy, low smoke and toxicity, high mechanical strength and easy blending with other polymers to attain high performance. Product demand is expected to rise owing to of increasing use of fire retardant constituents in crucial aircraft and automotive components.

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Crude oil is the primary raw material used in the manufacturing of phenolic resins and hence price instabilityis expected to have a direct influence on demand for phenolic resins. In order to ensure conformance to environmental standards regarding formaldehyde emissions, significant funding and investments have to be made and this may slowdown the market growth. However, the positive side is that there is an increasing adoption of nanotechnology in phenolic resins production that aims to improve their functional and structural characteristics and expand their scope of application.

Phenolic Resins Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2025)

Novolac
Resol
Others

Phenolic Resins Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2025)

Wood Adhesives
Molding Compounds
Insulation
Laminates
Paper Impregnation
Coatings
Others

Key Players Insights covered in these report

Hitachi Chemical
Mitsui Chemicals
Sumitomo Bakelite
Momentive Specialty Chemicals
DIC Corporation
Kolon Industries and many others

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Asia Pacific emerged as the market leader in phenolic resins market on account of widespread use in construction applications and growing consumption of moulding compounds in India and China. China is a large phenolic resins market and a significant consumer at a global level. Within North America, U.S. is one of the leading consumers in wood adhesive applications of phenolic resins. In addition, demand for thermal insulation products is expected to be on a rise on account of the legislation implemented in various countries and regional associations for constructing energy efficient buildings. Further, growing use of composites in marine, mass transit and aerospace is anticipated to boost the phenolic resins market.

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