The report published on globalPhenolic Resins marketis an extensive analysis of the market with a panoramic overview of the industry with regards to market size, market share, revenue growth, opportunities, drivers, restraints. Major factors driving market revenue growth include increasing adoption of phenolic resins in building construction, transportation, furniture, molding applications coupled with growing demand for phenolic resins from automotive industries. Rapidly growing electronics and electrical industries is another factor resulting in rising demand for phenolic resins, which in turn is expected to drive global market growth going ahead.
Phenolic resins, or phenol formaldehyde, are the primary synthetic polymers manufactured through condensation process between phenol and formaldehyde in presence of a catalyst. These synthetic polymers are widely used in production of adhesives, insulation materials, molding compounds, products such as refractories, rubber processing, etc. Phenolic resins can be used in a variety of applications owing to properties such as good heat and chemical resistance, flexibility, mechanical strength, durability, and lightweight, and these are key factors expected to continue to support growth of the global phenolic resins market.
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Top Companies: DIC Corporation, Arclin Inc., Ashland Global Holdings Inc., Olympic Panel Products LLC, Altex Coatings Ltd., Hexion Inc., Sumitomo Bakelite Co., Ltd., BASF SE, Mitsui Chemicals Inc., Showa Denko Materials Co., Ltd., SI Group Inc., KCC Corporation, Georgia-Pacific Chemicals LLC, Hexcel Corporation, Kolon Industries, Inc., Plastics Engineering Company, RPM International Inc., Nippon Paint Marine Coatings Co., Ltd., and Prefere Resins GmbH.
Market Dynamics and Restraints
Increasing demand and adoption of phenolic resins in various applications, including wood adhesives, insulation, furniture, building construction, lamination, etc. Phenolic resins are widely used in electrical applications including circuit boards, buttons, knobs, kitchen equipment, and handles. In automotive industry, phenolic resins are used as a bonded and coated abrasive in grinding wheels, sheets, belts, etc., owing to lightweight, fire resistant, and fuel-efficient properties. Increasing demand for phenolic resins from the automobile industry due to increasing demand for vehicles globally is another major factor driving revenue growth of the global phenolic resins market.
Stringent government regulations regarding use of phenolic resins and fluctuating costs of raw materials are key factors that could hamper growth of the global market to a certain extent going ahead.
The COVID-19 impact:The growing COVID-19 pandemic has led to the weakening demand for coatings in electronics, automotive, construction, and white goods. The market has the capacity to bounce back, but it completely depends on the duration of the lockdown, and also the impact of the virus on the economy. Even though the overall demand of the market is falling, the demand for Phenolic Resins Market is expected to rise in the coming years.
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Product Outlook (Revenue, USD Billion; 2018 2028)
- Resol
- Solid Resols
- Liquid Resols
- Novolac
- Others
Application Outlook (Revenue, USD Billion; 2018 2028)
- Wood Adhesives
- Molding
- Insulation
- Coatings
- Laminates
- Paper Impregnation
- Others
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Significant Features that are under Offering and Key Highlights of the Reports:
Detailed overview of the Phenolic Resins Market
Changes in industry market dynamics
Detailed market segmentation by type, application, etc.
Historical, current and projected market size in terms of quantity and value
Recent industry trends and developments
Competition situation of Phenolic Resins Market
Key companies and product strategies
Potential niche segment/region showing promising growth.
Finally, the Phenolic Resins Market Report is the authoritative source for market research that can dramatically accelerate your business. The report shows economic conditions such as major locales, item values, profits, limits, generation, supply, requirements, market development rates, and numbers.
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