Phenolic Resin Market: Trends, Opportunities and Competitive Analysis

Phenolic Resin Market: Trends, Opportunities and Competitive Analysis

Global Phenolic Resin Market Trends and Forecast

The future of the global phenolic resin market looks promising with growth opportunities in the construction, transportation, electrical and electronics, furniture, and industrial end use. The global phenolic resin market is expected to reach an estimated $16.0 billion by 2027 with a CAGR of 6.1% from 2021 to 2027. The major drivers of growth for this market are increasing use of heat resistance, corrosion and chemical resistance materials in construction and transportation industry and lower cost of phenolic resin compared to its competitors.

Evolution of Phenolic Resin Opportunities

Phenolic resin opportunities have evolved through number of stages as presented in figure below:

Emerging Trends in the Phenolic Resin Market

Emerging trends, which have a direct impact on the dynamics of the industry, includes the use of bio based phenolic resin, rosin modified phenolic resin, boron-modified phenol formaldehyde resin-based self-healing matrix for Cf/Siboc Composites.

A total of 141 figures / charts and 89 tables are provided in this 208-page report to help in your business decisions. A sample figure with insights is shown below. To learn the scope of benefits, companies researched, and other details of the phenolic resin market report, please download the report brochure.

Phenolic Resin Market by Segment

The study includes trends and forecast for the global phenolic resin market by application, type, end use, and region as follows:

Global Phenolic Resin Market by Application [Value ($B) and Volume (Billion Pounds) shipment analysis for 2016 – 2027]:

• Wood Adhesive
• Molding Compounds
• Laminates
• Insulation
• Coating
• Paper Impregnation
• Others

Global Phenolic Resin Market by Type [Value ($B) and Volume (Billion Pounds) shipment analysis for 2016 – 2027]:

• Resol Phenolic Resin
• Novolac Phenolic Resin

Global Phenolic Resin Market by End Use [Value ($B) and Volume (Billion Pounds) shipment analysis for 2016 – 2027]:

• Construction
• Transportation
• Electrical and Electronics
• Furniture
• Industrial
• Others

Global Phenolic Resin Market by Region [Volume (Billion Pounds) and Value ($B) shipment analysis for 2016 – 2027]:

• North America
• US
• Canada
• Mexico
• Europe
• Western Europe
• Eastern Europe
• APAC
• China
• Japan
• India
• Taiwan
• Republic of Korea
• ROW
• Central/South America
• Middle East

List of Phenolic Resin Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies phenolic resin companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the phenolic resin companies profiled in this report includes.

• Hexion Inc.
• Georgia Pacific Chemicals
• SI Group
• SQ Group
• Sumitomo Bakelite Co. Ltd.
• DIC Corporation
• Mitsui Chemicals
• Tembec
• Ashland
• Aica Kogyo

Phenolic Resin Market Insight

• Lucintel forecasts that the construction segment will remain the largest end use segment and is also expected to witness the highest growth over the forecast period due to demand for heat resistant material and low cost material is driving phenolic resin market.
• Molding compounds segment will remain the largest segment over the forecast period due to high heat resistance, mechanical strength and electrical properties and is used in automotive, aerospace, electronics and industrial market.
• Asia Pacific is expected to remain the largest region over the forecast period due to growth in end use industries such as residential and commercial activities, increasing automotive production, and growing electrical and electronics demand.

Features of Global Phenolic Resin Market

• Market Size Estimates: Phenolic Resins market size estimation in terms of value ($B) and volume (B lbs)
• Trend and Forecast Analysis: Market trends (2016-2021) and forecast (2022-2027) by various segments and regions.
• Segmentation Analysis: Market size by application, type, end use and region
• Regional Analysis: Phenolic Resins market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis of growth opportunities in different application, type, end use, and regions for the phenolic resins market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the phenolic resin market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the phenolic resins market size?

Answer: The global phenolic resin market is expected to reach an estimated $16.0 billion by 2027.

Q2. What is the growth forecast for phenolic resin market?

Answer: The phenolic resin market is expected to grow at a CAGR of 6.1% from 2021 to 2027.

Q3. What are the major drivers influencing the growth of the phenolic resin market?

Answer: The major drivers of growth for this market are increasing use of heat resistance, corrosion and chemical resistance materials in construction and transportation industry and lower cost of phenolic resin as compared to its competitors.

Q4. What are the major applications or end use industries for Global Phenolic Resin?

Answer: Construction and electrical & electronics are the major end uses for global phenolic resin.

Q5. What are the emerging trends in phenolic resin market?

Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include the use of bio based phenolic resin and rosin modified phenolic resin.

Q6. Who are the key phenolic resin companies?

Answer: Some of the key phenolic resin companies are as follows:

• Hexion Inc.
• Georgia Pacific Chemicals
• SI Group
• SQ Group
• Sumitomo Bakelite Co. Ltd.
• DIC Corporation
• Mitsui Chemicals
• Tembec
• Ashland
• Aica Kogyo

Q7.Which phenolic resin type segment will be the largest in future?

Answer: Lucintel forecasts that the molding compounds segment will remain the largest segment over the forecast period due to high heat resistance, mechanical strength and electrical properties and is used in automotive, aerospace, electronics and industrial market.

Q8: In phenolic resin market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to remain the largest region over next 5 years.

Q9. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

Q.1 What are some of the most promising, high-growth in global phenolic resin market by application (wood adhesive, molding compounds, laminates, insulation, coating, paper impregnation, and others), type (resol phenolic resin and novolac phenolic resin), end use (construction, transportation, electrical and electronics, furniture, and others) and region (North America, Europe, Asia Pacific and ROW)?

Q. 2 Which segments will grow at a faster pace and why?

Q.3 Which regions will grow at a faster pace and why?

Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?

Q.5 What are the business risks and threats to the market?

Q.6 What are the emerging trends in this market and the reasons behind them?

Q.7 What are the changing demands of customers in the market?

Q.8 What are the new developments in the market? Which companies are leading these developments?

Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?

Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?

Q.11 What M & A activities have taken place in the last 5 years in this market?

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