Global Phenolic Resin Market was valued at US$ 10.23 Bnin 2019 and is expected to reach US$ 14.87 Bn by 2027, at a CAGR of 4.79 % during the forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Instability in raw material prices is a major restraining as well as the challenging factor for the phenolic resins market. Growing focus on the development of green and sustainable products, bio-based resins poses an opportunity for market growth. Resol resin dominates the phenolic resin market. Resol resins are majorly employed for adhesive applications. The phenolic novolac powder is needed to achieve optimization for increased strength, fibreglass reinforcement inlays are used. Resol is a quite conspicuous polymer among composite fields for structural stability and thermo structural stability applications.
Wood adhesives leaded the phenolic resin market in 2017 and are expected to remain dominant throughout the forecast period, owing to rapidly escalating building & construction industry, especially in the developing countries. While, the moulding compound is likely to witness the highest growth, motivated by increasing use of epoxy molding compounds in the transportation and electronics industries. The automotive industry is foreseen to maintain its dominance over the forecast, owing to constantly increasing the production of vehicles driven by EV adoption in the untapped market along with an increasing number of phenolic resin applications, clutch facing, such brake linings, and brake pads.
electrical and electronics segment is estimated as second largest end-user segment followed by building and construing industry, In building and construction industry phenol resin is employed for building panel gears while phenol resin finds its use in electrical and electronics industry for circuit board production, cameras, vacuum cleaner and others. Rapid industry sector development in the region. Growth in automotive production with a shift of automobile plants in China and India, continuous shift of manufacturing base of the electrical & electronics industry, and growing building & construction sector are the major growth drivers of the Asia-Pacific’s market. North America and Europe exhibit a sizeable growth, owing to the recovery of the building &construction industry in the regions.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Phenolic Resin market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to emerging segment in Phenolic Resin market.
Scope of the Global Phenolic Resin Market :
Global Phenolic Resin Market, by Type:
• Resol Resin • Novolac Resin • Others
Global Phenolic Resin Market, by Application:
• Wood Adhesives • Molding • Foundry • Insulation • Laminates • Others
Global Phenolic Resin Market, by End-User Industry:
• Electrical & Electronics • Automotive • Building & Construction • Others
Global Phenolic Resin Market, by Region:
• North America • Europe • Asia-Pacific • Middle East & Africa • South America
Key Player analyzed in the Report:
• Chang Chun Plastics Co. Ltd. • Mitsui Chemicals Inc. • Georgia Pacific Chemicals LLC • Prefere Resins • Kolon Industries, Inc. • Momentive Specialty Chemicals Inc. • SI Group • Sumitomo Bakelite Co. Ltd • BASF SE • Hitachi Chemical Co. Ltd. • DIC Corporation • Hexion Inc. • Shandong Laiwu Runda New Material Co., Ltd.,
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