Phenolic Resins Market, by Product Type (Wood Adhesives, Molding Compounds, Laminates, Insulation, and Others), by Application (Resole, Novolac, and Others), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)- Siz

Phenolic Resins Market, by Product Type (Wood Adhesives, Molding Compounds, Laminates, Insulation, and Others), by Application (Resole, Novolac, and Others), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

Phenolic resins, phenolic formaldehyde, or phenol resins are synthetic polymers obtained by the synthesis of phenolic or substituted phenol by formaldehyde. Typically used as a base for Bakelite, these chemical resistant resins were the very first commercial synthetic moisturizers. Used as a skin protective agent, these chemical-resistant resins have excellent skin protection properties and do not yellow easily. Formaldehyde is a colorless, odorless, and caustic chemical that is derived from natural gas and used in most of the artificial preservatives in food.

Market Dynamics

Phenolic resins have been widely adopted since the early twentieth century and are considered the first class of synthetic polymers to attain commercial success. According to Coherent Market Insights, robust growth in the construction industry in the U.S. is projected to offer immense growth opportunities over the forecast period. For instance, in 2020, the U.S. federal budget allocated US$ 200 billion for infrastructure priorities across a range of sectors, including water infrastructure. Also, increasing renovation and construction of new residential as well as commercial infrastructure is further anticipated to foster the phenolic resins market growth over the forecast timeframe.

Growing demand for phenolic resins for application in wood adhesive is projected to create enormous growth opportunities for the market over the forecast timeframe. Due to its exceptional water resistance, water diluting ability, excellent moisture resistance, and weather resistance property, it is widely used in the creation of wood adhesive. Thus, growing demand for wood adhesive from a wide range of end-use industries is expected to fuel the market growth in the near future.

According to Coherent Market Insights in 2020, nano-modification of phenolic resins through nanotechnology is expected to bring favorable market opportunities over the forecast period. This helps in offering more thermal stability and makes it suitable for high-temperature applications. Also, increasing use of this materials in fire-resistant platforms, deluge pipes, and other instruments for offshore drilling activities is propelling the market growth. Thus, the nano-modification of phenolic resins will favor the market growth in the near future.

Key features of the study:

• This report provides an in-depth analysis of global phenolic resins market, and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2022-2030), considering 2021 as the base year.
• It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global phenolic resins market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
• Key companies covered as a part of this study include BASF SE, Chang Chun Plastics Co. Ltd., Georgia Pacific Chemicals LLC, Kolon Industries Inc., Prefere Resins, Mitsui Chemicals Inc., Sumitomo Bakelite Co., Ltd, Hitachi Chemical Co. Ltd., SI Group, Inc., and Momentive Specialty Chemicals, Inc.
• Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future products launches, technology up gradation, market expansion, and marketing tactics
• The global phenolic resins market report caters to various stakeholders in this industry including investors, suppliers, phenolic resins manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global phenolic resins market

Detailed Segmentation:

• Global Phenolic Resins Market, By Product Type:
• Resole
• Novolac
• Others
• Global Phenolic Resins Market, By Application:
• Wood Adhesives
• Molding Compounds
• Laminates
• Insulation
• Others
• Global Phenolic Resins Market, By Region:
• North America

U.S.

Canada

• Europe

U.K.

Germany

France

Italy

Spain

Russia

Rest of Europe

• Asia Pacific

China

India

Japan

ASEAN

Australia

South Korea

Rest of Asia Pacific

• Rest of World

MEA

Latin America

• Company Profiles
• BASF SE
• Chang Chun Plastics Co. Ltd
• Georgia Pacific Chemicals LLC
• Kolon Industries Inc
• Prefere Resins
• Mitsui Chemicals Inc
• Sumitomo Bakelite Co, Ltd.
• Hitachi Chemical Co. Ltd
• SI Group, Inc.
• Momentive Specialty Chemicals, Inc.

“*” marked represents similar segmentation in other categories in the respective section.