Europe Phenolic Resin Market was valued at USD 1530 Mn in 2019 and is expected to reach USD 2342.39 million in 2027 at a CAGR of 5.47% over forecast period 2020-2027.
Phenolic resins are synthetic polymers obtained by the reaction of phenol or substituted phenol with formaldehyde. Europe market is little bit mature and is expected to grow at a CAGR of 5.47% over forecast period, but demand from Central and Eastern Europe is expected to gain momentum for the phenolic resin. Wood adhesive application is expected to drive the phenolic resin market in this region. Automotive is the largest end-use industry with 425.80 Mn market share in 2019 and is expected to keep its dominance over forecast period due to the growing automobile sales.
EPRA (European Phenolic Resin Manufacturing Association) is promoting, developing and maintaining a positive image for phenolic resins by promoting their safe and proper manufacturing. EPRA has 13 Phenolic Resin producing members representing the vast majority of the European industry. The member companies are covering more than 90% of the European market.
By region Europe Phenolic Resin Market is segmented into Germany, France, Russia, U.K, Spain, Italy and Rest of Europe. Among all of these Germany is largest and fastest growing market. Germany phenolic resin market was valued at xx Mn in 2019 and is expected to reach at USD xx Mn by 2027 at a CAGR of 6.26% from 2020-2027. Increasing demand from Molding, Insulation and Wood adhesive application is mainly driving the Germany Phenolic Resins market.
Italy phenolic resin market was valued USD xx Mn in 2019 and is expected to reach USD xx Mn at a CAGR of 5.39%. The automotive industry is a significant part of the Italian manufacturing sector with a contribution of 8.5% to Italian GDP. An increase in the demand from automotive industry for phenolic resins in applications such as, brake linings, clutch facing, and brake pads is also expected to drive the European phenolic resin market.
Phenolic Resin market in in U.K, Russia, France, Spain and Italy are growing moderately. U.K phenolic resin market is expected to grow at a CAGR of 4.56%. In U.K. Insulation, molding, wood adhesive applications are creating lucrative opportunities for market. France phenolic resin market was valued at USD xx Mn in 2019 and is expected to reach xx% at a CAGR of 4.63% over forecast period. U.K., Spain and France phenolic resin markets are relatively matured and presents little opportunities for new entrants on account of end-use industry saturation and high competition among domestic manufacturers.
Russia phenolic resin market was valued at USD xx Mn in 2019 and is expected to reach at USD xx Mn by 2027 at a CAGR of 5.67%. Technological advancements have introduced new growth avenues for phenolic resins, especially in impregnation applications. Growing substitution of raw material phenol with bio based alternatives such as lignin is a major factor favouring industry growth in Russia.
Rest of Europe consists various countries such as Netherlands, Poland, Ukraine, Romania, Sweden, Hungary, Belarus, Austria, Serbia, Switzerland, Denmark, Finland and remaining smaller countries of Europe. Rest of Europe Phenolic resin market was valued at USD xx Mn in 2019 and is expected to reach at USD xx Mn by 2027 at a CAGR of 4.48% over forecast period. An Advanced Properties of phenolic resin and high demand from various End Users such as Construction, Electrical & Electronics, furniture, automotive, and many more for various applications have been driving the market in this region. While environmental regulations and fluctuation in the prices of raw materials is hindering market growth in this region.
The objective of the report is to present a comprehensive analysis of the Europe Phenolic Resin Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Europe Phenolic Resin Market dynamics, structure by analyzing the market segments and project the Europe Phenolic Resin Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Europe Phenolic Resin Market make the report investor’s guide.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Scope of Europe Phenolic Resin Market
Europe Phenolic Resin Market, by Type
• Resol Resin
• Novolac Resin
Europe Phenolic Resin Market, by Application
• Wood Adhesives
Europe Phenolic Resin Market, by End-User Industry
• Electrical & Electronics
• Building & Construction
Europe Phenolic Resin Market, by Country
• Rest of Europe
EPRA Registered Phenolic Resin Market Manufacturers
• Allnex Belgium SA/NV
• Fenolit d.d.
• LERG S.A.
• Metadynea Austria GmbH
• Prefere Resins
• Sadepan Chimica Srl
• SI Group
• Sumitomo Bakelite Europe
• Süd-West-Chemie GmbH
• UCP Chemicals AG
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