The
global Phenolic
Resins Market size is expected to reach USD 20.8 billion by 2030,
registering a CAGR of 5.5% according to a new report by Grand View Research,
Inc. Rising usage of phenolic resins across various applications including
wood adhesives, molding, insulations, laminates, paper impregnation, coatings,
and other applications such as abrasives, composites, carbon binders, friction
materials, sound-roof bonding felt, and tires & rubbers are likely to
present lucrative opportunities for phenolic resins during the forecast period.
Novolac
resin, a type of phenolic resin, is ideal for making automotive parts like
suspension, seats, bottom plates, tires, brake pistons, brake block & pads,
brake linings, and clutch facing because it has excellent impact resistance,
high strength, fire resistance, thermal resistance, chemical resistance,
thermal stability, flexibility, and surface hardness.
Apart
from global players in the industry, a few small and medium-sized regional
firms also had an impact on the market. Global players are engaged in fierce
competition with regional competitors who have strong distribution networks and
in-depth knowledge of phenolic resin suppliers and associated laws.
Related Press
Release@ Phenolic
Resins Market Report
Phenolic Resins Market Report Highlights
- The market
is valued at USD 13.6 billion in 2022 and is expected to reach USD 20.8
billion in 2030 at an estimated CAGR of 5.5% from 2023 to 2030, owing to
the growth in domestic manufacturing of cabinets, furniture, wall
panels, and associated construction materials
- Novolac
resin is a type of phenolic resin that offers excellent impact resistance,
high strength, fireproof, heat resistance, chemical resistance, thermal
stability, flexibility, surface hardness, electrical insulating
properties, and lightweight, making it ideal for the production of
automotive components such as suspension, seats, bottom plates, and others
- Asia Pacific
dominated the global market for phenolic resins in 2022 and is expected to
witness significant growth over the forecast period owing to the strong
economic development coupled with substantial investment in various
application industries such as building & construction, automotive,
electrical & electronics, and furniture.
- The
emergence of construction companies in Chile and Peru is expected to
create growth potential for the market in the region over the forecast
period. The presence of key coating manufacturers in the region, including
The Sherwin-Williams Company, AkzoNobel NV, and RPM International, Inc.,
is expected to propel the demand for phenolic resins
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List of Key Players in the Phenolic Resins Market
- DIC
CORPORATION
- Kolon
Industries, Inc.
- Sumitomo
Bakelite Co., Ltd.
- Hexcel
Corporation
- Georgia-Pacific
Chemicals
- KRATON
CORPORATION
- Hexion
- Bostik, Inc.
- SI Group,
Inc.
Phenolic Resins Market Segmentation
Grand
View Research has segmented the phenolic resins market on the basis of product,
application, other applications, and region:
Phenolic Resins Product Outlook (Volume, Kilotons;
Revenue, USD Million, 2019 - 2030)
- Novolac
- Resol
- Liquid
Resol Resin
- Solid Resol
Resin
- Others
Phenolic Resins Application Outlook (Volume, Kilotons;
Revenue, USD Million, 2019 - 2030)
- Wood
Adhesives
- Molding
- Molding
Compounds
- Shell
Molding
- Coated
Foundry Sand
- Insulations
- Laminates
- Paper
Impregnation
- Coatings
- Others
Phenolic Resins Other Applications Outlook (Volume,
Kilotons; Revenue, USD Million, 2019 - 2030)
- Abrasives
- Composites
- Carbon
Binders
- Friction
Materials
- Sound-proof
Bonding Felt
- Tires &
Rubber
Phenolic Resins Regional Outlook (Volume, Kilotons;
Revenue, USD Million, 2019 - 2030)
- North
America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Asia Pacific
- China
- India
- Japan
- Central
& South America
- Brazil
- Argentina
- Middle East
& Africa
- GCC
Countries
- South
Africa
About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals, materials,
healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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