Latin America phenolic resin market
was valued at USD 941 Mn in 2019 and is expected to reach at USD 1447.39 Mn by 2027 at a CAGR of 5.53% over forecast period 2020-2027.
In the recent days, Latin America’s GDP per capita has fluctuated around world average. Latin America is experiencing better political stability. However, there is a substantial gap between Latin America and the developed economies. Latin America is experiencing better political stability. Mexico is dominating the Latin America phenolic resin market. Mexico 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 5.36% over forecast period. The substitution of metallic materials by phenolic resin materials is a growing trend in Mexico, partly resulting from the fact that in many industrial applications these materials have advantages over metallic materials, especially when increased resistance to corrosion, low thermal and electric conductivity, and low density are required. By application molding segment is expected to lead the market with 108.69 market share by 2027 at a CAGR 5.43% from 2020 to 2027. Brazil phenolic resin market was valued at USD 329.35 in 2019 and is expected to reach at USD XX% Mn by 2027 at a CAGR of 5.85% over forecast period. Rapid urbanization, growing consumer disposable income, expanding end-use industries, and the increasing rate of digitalization is likely to make Mexico a lucrative market for phenolic resin manufacturers & suppliers over the forecast period. The companies of this region are investing in various developed sectors such as consumer electronics and construction to meet the export demand. Phenolic resins are projected to benefit from all the dynamics, along with the availability of low-cost technologies and labour. Rest of Latin America market is expected to reach at USD XX by 2027 at a CAGR of 5.35% from 2020 to 2027. Rest of Latin America consist of Argentina, Chile, Peru, Ecuador, Venezuela, Uruguay, Panama and remaining Latin American countries. Increasing demand from various end users such as automotive, construction, furniture, etc. is propelling market in this region. 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.
Latin America Phenolic Resin Market, by Type
• Resol Resin • Novolac Resin • Others
Latin America Phenolic Resin Market, by Application
• Wood Adhesives • Molding • Foundry • Insulation • Laminates • Others
Latin America Phenolic Resin Market, by End-User Industry
• Electrical & Electronics • Automotive • Building & Construction • Others
Latin America Phenolic Resin Market by country
• South Africa • Brazil • Rest of Latin America
Manufactures and suppliers of phenolic resin market in Latin America
• Si Group Crios Resinas SA • Craft multimodal • Bostik SA • Resibras Industries De Castanhans • Ancora Logistics SA De Cv • Hemiplastica S.A. De C.V. • Chemiplastica S.A. De C.V. • Resirene S.A. De C.V. • Plenco de Mexico