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Phenolic Resins Market phenolic resins market
Phenolic Resins Market is projected to reach US$ 12.85 billion by 2027, from US$ 8.63 billion in 2023, at a CAGR of 5.4%. The growth of the Phenolic Resins Market is mainly driven by the increasing demand for Phenolic Resins from the construction and automotive industries.
A recent research study performed by Persistence Market Research (PMR) evaluates the historical as well as the present scenario of the“Global Phenolic Resins Market; to precisely gauge the industry's future opportunistic development. The report covers exhaustive information related to the key vital growth determinants, trends and restraints that are shaping the growth dynamics of the phenolic resins market to find out the lucrativeness of the business for market players. The study also sheds light on detailed information related to how the phenolic resins market will pace up and gain momentum during the timeframe 2023-2029.
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The phenolic resins market is primarily driven by its demand from coatings, insulation and lamination products, and adhesives applications. The demand growth is expected to be driven by the growth of end-use applications. Phenolic resins have highly characterized in term of high mechanical strength, low toxicity, good heat resistance, and low smoke formation property.
Manufacturers have been developing products, which meet a diverse & demanding set of requirements. For instance, they have been using phenolic resins for the formulation of adhesives and coatings to adjust surface prevention and surface treatment of the product. Phenolic resins are used in moulding compounds such as billiard balls and laboratory countertops across several end-use industries. Moreover, the growth in applications of phenolic resins in electronic and furniture industries is also expected to help boost the market.
Key Companies- DIC Corporation Hexion LLC Chang Chun Plastics Co. Ltd. Mitsui Chemicals Inc. Georgia Pacific Chemicals LLC Prefere Resins Kolon Industries, Inc. SI Group Sumitomo Bakelite Co. Ltd BASF SE Hitachi Chemical Co. Ltd. Plastics Engineering Company RPM International Inc. KCC Corporation Altex Coatings Inc. Nippon Paint Marine Coatings Co., Ltd.
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Phenolic Resins Market – Segmentation
Phenolic Resins Market by Product
Phenolic Resins Market by Application
Adhesives Insulation Molding Compounds Lamination Others
Phenolic Resins Market by End Use
Automobile Electric and Electronics Furniture Construction Others
Phenolic Resins Market by Region
North America Latin America Europe South Asia East Asia Oceania Middle East & Africa
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Key Questions-
Which phenolic resins product promise highest gains for the market in 2023?
How market big shots are successfully capitalizing the growing traction for phenolic resins to make adhesives?
What are the key strategies of market goliaths in phenolic resins market?
Which end use witnessed highest traction for phenolic resins in 2018?
What rate of ROI can phenolic resins market players can anticipate from the growing application of these resins in molding compounds in the next five years?
What will be the Y-o-Y growth of phenolic resins market between 2019 and 2025?
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