Phenolic Resins Market Share, Size, Trends, Industry Analysis Report, By Product (Novolac, Resols, Solid Resols, Liquid Resols, Others); By Application; By End-Use; By Region; Segment Forecast, 2023 - 2032

Phenolic Resins Market Share, Size, Trends, Industry Analysis Report, By Product (Novolac, Resols, Solid Resols, Liquid Resols, Others); By Application; By End-Use; By Region; Segment Forecast, 2023 - 2032



The global phenolic resins market size is expected to reach USD 24.07 billion by 2032, according to a new study by Polaris Market Research. The report “Phenolic Resins Market Share, Size, Trends, Industry Analysis Report, By Product (Novolac, Resols, Solid Resols, Liquid Resols, Others); By Application; By End-Use; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The market has experienced notable trends in recent years; there has been a growing demand for phenolic resins in the construction and automotive industries. These resins find extensive applications in construction materials, automotive components, and electrical insulation, benefitting from the growth of these sectors, particularly in emerging economies.

The market has increasingly emphasized lightweight and sustainable materials. As sustainability and environmental regulations gain prominence, industries have preferred lightweight and eco-friendly materials. Phenolic resins have gained traction due to their excellent fire resistance, low smoke emission, and high strength-to-weight ratio, making them suitable for various lightweight applications.

Moreover, technological advancements have played a significant role in the market. Continuous research and development efforts have introduced advanced phenolic resins with improved properties. Manufacturers are investing in technological advances to enhance performance, durability, and processing capabilities, expanding the application areas of phenolic resins and meeting specific industry requirements. Furthermore, there is a notable shift towards bio-based phenolic resins in response to environmental concerns. The development of bio-based alternatives derived from renewable sources, such as lignin, has gained interest. This aligns with the global trend towards sustainable and greener products, offering potential solutions to reduce the environmental impact of phenolic resins.

Innovations in material packaging play a significant role in driving the market. Manufacturers constantly explore ways to improve packaging materials to enhance product safety, durability, and sustainability. Phenolic resins offer excellent adhesive properties, making them suitable for various packaging applications. The development of advanced phenolic resin-based packaging solutions, such as laminates and coatings, enables better protection of goods during transportation and storage. These innovations contribute to increased demand for phenolic resins in the packaging industry.

Favorable regulatory standards drive the market; governments and regulatory bodies worldwide are increasingly focused on environmental regulations and sustainability. Phenolic resins are known for their low volatile organic compound (VOC) emissions and excellent fire-resistant properties. They comply with stringent regulatory standards for various industries, such as automotive, construction, and electronics. Adherence to these regulations encourages using phenolic resins as a preferred choice for applications that require high-performance materials with reduced environmental impact. This drives the demand for phenolic resins and stimulates market growth.

Phenolic Resins Market Report Highlights

Novolac segment dominated the market with the largest revenue shares in 2022. Due to the outstanding properties of novolac, such as lightweight composition, high thermal stability, and improved heat resistance, have driven its growing demand across industries like marine and construction.

Wood adhesives segment holds the majority of market shares with dominated the market The increasing demand for wood adhesives in the furniture industry, driven by their beneficial properties and rising awareness, presents promising growth opportunities for the market.

Automotive segment is anticipated to hold the largest revenue share of the market. Due to the automotive industry's adoption of lightweight materials and electric vehicles is anticipated to fuel the demand for phenolic molding materials, given their numerous applications and contribution to improved vehicle performance and reduced oil consumption.

Asia pacific is expected to grow significantly during the forecast period due to the utilization of phenolic resins in automotive component manufacturing, coupled with the region's economic growth and increased disposable income, is projected to fuel market expansion.

The global key market players include The Shave Wall Company, Asahi Kasei, Georgia Pacific Chemicals, Hexcel Corp., Changchun group, DYNEA, Hitachi Chemical Co. Ltd., Zhejiang Hangmo, Kolon Industries Inc., Owens Corning, BASF SE, Arclin Inc., Red Avenue New Materials, Olympic Panel Products LLC, and DIC Corporation.

Polaris Market Research has segmented the Phenolic Resins market report based on product, application, end-use, and region:

Phenolic Resins, Product Outlook (Revenue - USD Billion, 2019 - 2032)

Novolac

Resols

Solid Resols

Liquid Resols

Others

Phenolic Resins, Application Outlook (Revenue - USD Billion, 2019 - 2032)

Wood Adhesives

Molding

Insulation

Laminates

Paper Impregnation

Coatings

Refractory Materials

Friction Materials

Rubber & Tire

Electronics

Abrasives

Phenolic Resins, End-Use Outlook (Revenue - USD Billion, 2019 - 2032)

Building & Construction

Automotive

Electrical & Electronics

Furniture

Others

Phenolic Resins, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa


1. Introduction
1.1. Report Description
1.1.1. Objectives of the Study
1.1.2. Market Scope
1.1.3. Assumptions
1.2. Stakeholders
2. Executive Summary
2.1. Market Highlights
3. Research Methodology
3.1. Overview
3.1.1. Data Mining
3.2. Data Sources
3.2.1. Primary Sources
3.2.2. Secondary Sources
4. Global Phenolic Resins Market Insights
4.1. Phenolic Resins – Industry Snapshot
4.2. Phenolic Resins Market Dynamics
4.2.1. Drivers and Opportunities
4.2.1.1. Rising demand from end-use industries
4.2.1.2. Emphasis on sustainability and eco-friendly materials
4.2.2. Restraints and Challenges
4.2.2.1. Environmental concerns and regulatory compliance
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers (Moderate)
4.3.2. Threats of New Entrants: (Low)
4.3.3. Bargaining Power of Buyers (Moderate)
4.3.4. Threat of Substitute (Moderate)
4.3.5. Rivalry among existing firms (High)
4.4. PESTEL Analysis
4.5. Phenolic Resins Market Industry Trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis
5. Global Phenolic Resins Market, by Product
5.1. Key Findings
5.2. Introduction
5.2.1. Global Phenolic Resins Market, by Product, 2019-2032 (USD Billion)
5.3. Novolac
5.3.1. Global Phenolic Resins Market, by Novolac, by Region, 2019-2032 (USD Billion)
5.4. Resols
5.4.1. Global Phenolic Resins Market, by Resols, by Region, 2019-2032 (USD Billion)
5.5. Solid Resols
5.5.1. Global Phenolic Resins Market, by Solid Resols, by Region, 2019-2032 (USD Billion)
5.6. Liquid Resols
5.6.1. Global Phenolic Resins Market, by Liquid Resols, by Region, 2019-2032 (USD Billion)
5.7. Others
5.7.1. Global Phenolic Resins Market, by Others, by Region, 2019-2032 (USD Billion)
6. Global Phenolic Resins Market, by Application
6.1. Key Findings
6.2. Introduction
6.2.1. Global Phenolic Resins Market, by Application, 2019-2032 (USD Billion)
6.3. Wood Adhesives
6.3.1. Global Phenolic Resins Market, by Wood Adhesives, by Region, 2019-2032 (USD Billion)
6.4. Molding
6.4.1. Global Phenolic Resins Market, by Molding, by Region, 2019-2032 (USD Billion)
6.5. Insulation
6.5.1. Global Phenolic Resins Market, by Insulation, by Region, 2019-2032 (USD Billion)
6.6. Laminates
6.6.1. Global Phenolic Resins Market, by Laminates, by Region, 2019-2032 (USD Billion)
6.7. Paper Impregnation
6.7.1. Global Phenolic Resins Market, by Paper Impregnation, by Region, 2019-2032 (USD Billion)
6.8. Coatings
6.8.1. Global Phenolic Resins Market, by Coatings, by Region, 2019-2032 (USD Billion)
6.9. Refractory Materials
6.9.1. Global Phenolic Resins Market, by Refractory Materials, by Region, 2019-2032 (USD Billion)
6.10. Friction Materials
6.10.1. Global Phenolic Resins Market, by Friction Materials, by Region, 2019-2032 (USD Billion)
6.11. Rubber & Tire
6.11.1. Global Phenolic Resins Market, by Rubber & Tire, by Region, 2019-2032 (USD Billion)
6.12. Electronics
6.12.1. Global Phenolic Resins Market, by Electronics, by Region, 2019-2032 (USD Billion)
6.13. Abrasives
6.13.1. Global Phenolic Resins Market, by Abrasives, by Region, 2019-2032 (USD Billion)
7. Global Phenolic Resins Market, by End-Use
7.1. Key Findings
7.2. Introduction
7.2.1. Global Phenolic Resins Market, by End-Use, 2019-2032 (USD Billion)
7.3. Building & Construction
7.3.1. Global Phenolic Resins Market, by Building & Construction, By Region, 2019-2032 (USD Billion)
7.4. Automotive
7.4.1. Global Phenolic Resins Market, by Automotive, By Region, 2019-2032 (USD Billion)
7.5. Electrical & Electronics
7.5.1. Global Phenolic Resins Market, by Electrical & Electronics, By Region, 2019-2032 (USD Billion)
7.6. Furniture
7.6.1. Global Phenolic Resins Market, by Furniture, By Region, 2019-2032 (USD Billion)
7.7. Others
7.7.1. Global Phenolic Resins Market, by Other, By Region, 2019-2032 (USD Billion)
8. Global Phenolic Resins Market, by Geography
8.1. Key findings
8.2. Introduction
8.2.1. Phenolic Resins Market Assessment, By Geography, 2019-2032 (USD Billion)
8.3. Phenolic Resins Market – North America
8.3.1. North America: Phenolic Resins Market, by Product, 2019-2032 (USD Billion)
8.3.2. North America: Phenolic Resins Market, by End-Use, 2019-2032 (USD Billion)
8.3.3. North America: Phenolic Resins Market, by Application, 2019-2032 (USD Billion)
8.3.4. Phenolic Resins Market – U.S.
8.3.4.1. U.S.: Phenolic Resins Market, by Product, 2019-2032 (USD Billion)
8.3.4.2. U.S.: Phenolic Resins Market, by End-Use, 2019-2032 (USD Billion)
8.3.4.3. U.S.: Phenolic Resins Market, by Application, 2019-2032 (USD Billion)
8.3.5. Phenolic Resins Market – Canada
8.3.5.1. Canada: Phenolic Resins Market, by Product, 2019-2032 (USD Billion)
8.3.5.2. Canada.: Phenolic Resins Market, by End-Use, 2019-2032 (USD Billion)
8.3.5.3. Canada: Phenolic Resins Market, by Application, 2019-2032 (USD Billion)
8.4. Phenolic Resins Market – Europe
8.4.1. Europe: Phenolic Resins Market, by Product, 2019-2032 (USD Billion)
8.4.2. Europe.: Phenolic Resins Market, by End-Use, 2019-2032 (USD Billion)
8.4.3. Europe: Phenolic Resins Market, by Application, 2019-2032 (USD Billion)
8.4.4. Phenolic Resins Market – UK
8.4.4.1. UK: Phenolic Resins Market, by Product, 2019-2032 (USD Billion)
8.4.4.2. UK.: Phenolic Resins Market, by End-Use, 2019-2032 (USD Billion)
8.4.4.3. UK: Phenolic Resins Market, by Application, 2019-2032 (USD Billion)
8.4.5. Phenolic Resins Market – France
8.4.5.1. France: Phenolic Resins Market, by Product, 2019-2032 (USD Billion)
8.4.5.2. France.: Phenolic Resins Market, by End-Use, 2019-2032 (USD Billion)
8.4.5.3. France: Phenolic Resins Market, by Application, 2019-2032 (USD Billion)
8.4.6. Phenolic Resins Market – Germany
8.4.6.1. Germany: Phenolic Resins Market, by Product, 2019-2032 (USD Billion)
8.4.6.2. Germany.: Phenolic Resins Market, by End-Use, 2019-2032 (USD Billion)
8.4.6.3. Germany: Phenolic Resins Market, by Application, 2019-2032 (USD Billion)
8.4.7. Phenolic Resins Market – Italy
8.4.7.1. Italy: Phenolic Resins Market, by Product, 2019-2032 (USD Billion)
8.4.7.2. Italy.: Phenolic Resins Market, by End-Use, 2019-2032 (USD Billion)
8.4.7.3. Italy: Phenolic Resins Market, by Application, 2019-2032 (USD Billion)
8.4.8. Phenolic Resins Market – Spain
8.4.8.1. Spain: Phenolic Resins Market, by Product, 2019-2032 (USD Billion)
8.4.8.2. Spain.: Phenolic Resins Market, by End-Use, 2019-2032 (USD Billion)
8.4.8.3. Spain: Phenolic Resins Market, by Application, 2019-2032 (USD Billion)
8.4.9. Phenolic Resins Market – Netherlands
8.4.9.1. Netherlands: Phenolic Resins Market, by Product, 2019-2032 (USD Billion)
8.4.9.2. Netherlands.: Phenolic Resins Market, by End-Use, 2019-2032 (USD Billion)
8.4.9.3. Netherlands: Phenolic Resins Market, by Application, 2019-2032 (USD Billion)
8.4.10. Phenolic Resins Market – Austria
8.4.10.1. Austria: Phenolic Resins Market, by Product, 2019-2032 (USD Billion)
8.4.10.2. Austria.: Phenolic Resins Market, by End-Use, 2019-2032 (USD Billion)
8.4.10.3. Austria: Phenolic Resins Market, by Application, 2019-2032 (USD Billion)
8.5. Phenolic Resins Market – Asia Pacific
8.5.1. Asia Pacific: Phenolic Resins Market, by Product, 2019-2032 (USD Billion)
8.5.2. Asia Pacific.: Phenolic Resins Market, by End-Use, 2019-2032 (USD Billion)
8.5.3. Asia Pacific: Phenolic Resins Market, by Application, 2019-2032 (USD Billion)
8.5.4. Phenolic Resins Market – China
8.5.4.1. China: Phenolic Resins Market, by Product, 2019-2032 (USD Billion)
8.5.4.2. China.: Phenolic Resins Market, by End-Use, 2019-2032 (USD Billion)
8.5.4.3. China: Phenolic Resins Market, by Application, 2019-2032 (USD Billion)
8.5.5. Phenolic Resins Market – India
8.5.5.1. India: Phenolic Resins Market, by Product, 2019-2032 (USD Billion)
8.5.5.2. India.: Phenolic Resins Market, by End-Use, 2019-2032 (USD Billion)
8.5.5.3. India: Phenolic Resins Market, by Application, 2019-2032 (USD Billion)
8.5.6. Phenolic Resins Market – Malaysia
8.5.6.1. Malaysia: Phenolic Resins Market, by Product, 2019-2032 (USD Billion)
8.5.6.2. Malaysia.: Phenolic Resins Market, by End-Use, 2019-2032 (USD Billion)
8.5.6.3. Malaysia: Phenolic Resins Market, by Application, 2019-2032 (USD Billion)
8.5.7. Phenolic Resins Market – Japan
8.5.7.1. Japan: Phenolic Resins Market, by Product, 2019-2032 (USD Billion)
8.5.7.2. Japan.: Phenolic Resins Market, by End-Use, 2019-2032 (USD Billion)
8.5.7.3. Japan: Phenolic Resins Market, by Application, 2019-2032 (USD Billion)
8.5.8. Phenolic Resins Market – Indonesia
8.5.8.1. Indonesia: Phenolic Resins Market, by Product, 2019-2032 (USD Billion)
8.5.8.2. Indonesia.: Phenolic Resins Market, by End-Use, 2019-2032 (USD Billion)
8.5.8.3. Indonesia: Phenolic Resins Market, by Application, 2019-2032 (USD Billion)
8.5.9. Phenolic Resins Market – South Korea
8.5.9.1. South Korea: Phenolic Resins Market, by Product, 2019-2032 (USD Billion)
8.5.9.2. South Korea.: Phenolic Resins Market, by End-Use, 2019-2032 (USD Billion)
8.5.9.3. South Korea: Phenolic Resins Market, by Application, 2019-2032 (USD Billion)
8.6. Phenolic Resins Market – Middle East & Africa
8.6.1. Middle East & Africa: Phenolic Resins Market, by Product, 2019-2032 (USD Billion)
8.6.2. Middle East & Africa.: Phenolic Resins Market, by End-Use, 2019-2032 (USD Billion)
8.6.3. Middle East & Africa: Phenolic Resins Market, by Application, 2019-2032 (USD Billion)
8.6.4. Phenolic Resins Market – Saudi Arabia
8.6.4.1. Saudi Arabia: Phenolic Resins Market, by Product, 2019-2032 (USD Billion)
8.6.4.2. Saudi Arabia.: Phenolic Resins Market, by End-Use, 2019-2032 (USD Billion)
8.6.4.3. Saudi Arabia: Phenolic Resins Market, by Application, 2019-2032 (USD Billion)
8.6.5. Phenolic Resins Market – UAE
8.6.5.1. UAE: Phenolic Resins Market, by Product, 2019-2032 (USD Billion)
8.6.5.2. UAE.: Phenolic Resins Market, by End-Use, 2019-2032 (USD Billion)
8.6.5.3. UAE: Phenolic Resins Market, by Application, 2019-2032 (USD Billion)
8.6.6. Phenolic Resins Market – Israel
8.6.6.1. Israel: Phenolic Resins Market, by Product, 2019-2032 (USD Billion)
8.6.6.2. Israel.: Phenolic Resins Market, by End-Use, 2019-2032 (USD Billion)
8.6.6.3. Israel: Phenolic Resins Market, by Application, 2019-2032 (USD Billion)
8.6.7. Phenolic Resins Market – South Africa
8.6.7.1. South Africa: Phenolic Resins Market, by Product, 2019-2032 (USD Billion)
8.6.7.2. South Africa.: Phenolic Resins Market, by End-Use, 2019-2032 (USD Billion)
8.6.7.3. South Africa: Phenolic Resins Market, by Application, 2019-2032 (USD Billion)
8.7. Phenolic Resins Market – Latin America
8.7.1. Latin America: Phenolic Resins Market, by Product, 2019-2032 (USD Billion)
8.7.2. Latin America.: Phenolic Resins Market, by End-Use, 2019-2032 (USD Billion)
8.7.3. Latin America: Phenolic Resins Market, by Application, 2019-2032 (USD Billion)
8.7.4. Phenolic Resins Market – Mexico
8.7.4.1. Mexico: Phenolic Resins Market, by Product, 2019-2032 (USD Billion)
8.7.4.2. Mexico.: Phenolic Resins Market, by End-Use, 2019-2032 (USD Billion)
8.7.4.3. Mexico: Phenolic Resins Market, by Application, 2019-2032 (USD Billion)
8.7.5. Phenolic Resins Market – Brazil
8.7.5.1. Brazil: Phenolic Resins Market, by Product, 2019-2032 (USD Billion)
8.7.5.2. Brazil.: Phenolic Resins Market, by End-Use, 2019-2032 (USD Billion)
8.7.5.3. Brazil: Phenolic Resins Market, by Application, 2019-2032 (USD Billion)
8.7.6. Phenolic Resins Market – Argentina
8.7.6.1. Argentina: Phenolic Resins Market, by Product, 2019-2032 (USD Billion)
8.7.6.2. Argentina.: Phenolic Resins Market, by End-Use, 2019-2032 (USD Billion)
8.7.6.3. Argentina: Phenolic Resins Market, by Application, 2019-2032 (USD Billion)
9. Competitive Landscape
9.1. Expansion and Acquisition Analysis
9.1.1. Expansion
9.1.2. Acquisitions
9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Company Profiles
10.1. Arclin Inc.
10.1.1. Company Overview
10.1.2. Financial Performance
10.1.3. Product Benchmarking
10.1.4. Recent Development
10.2. Arizona Chemical Company LLC
10.2.1. Company Overview
10.2.2. Financial Performance
10.2.3. Product Benchmarking
10.2.4. Recent Development
10.3. Asahi Kasei
10.3.1. Company Overview
10.3.2. Financial Performance
10.3.3. Product Benchmarking
10.3.4. Recent Development
10.4. BASF SE
10.4.1. Company Overview
10.4.2. Financial Performance
10.4.3. Product Benchmarking
10.4.4. Recent Development
10.5. Changchun Group
10.5.1. Company Overview
10.5.2. Financial Performance
10.5.3. Product Benchmarking
10.5.4. Recent Development
10.6. DIC Corporation
10.6.1. Company Overview
10.6.2. Financial Performance
10.6.3. Product Benchmarking
10.6.4. Recent Development
10.7. DYNEA
10.7.1. Company Overview
10.7.2. Financial Performance
10.7.3. Product Benchmarking
10.7.4. Recent Development
10.8. Georgia Pacific Chemicals
10.8.1. Company Overview
10.8.2. Financial Performance
10.8.3. Product Benchmarking
10.8.4. Recent Development
10.9. GUN EI Chemical Industry
10.9.1. Company Overview
10.9.2. Financial Performance
10.9.3. Product Benchmarking
10.9.4. Recent Development
10.10. Hexcel Corp.
10.10.1. Company Overview
10.10.2. Financial Performance
10.10.3. Product Benchmarking
10.10.4. Recent Development
10.11. Hitachi Chemical Co. Ltd.
10.11.1. Company Overview
10.11.2. Financial Performance
10.11.3. Product Benchmarking
10.11.4. Recent Development
10.12. Hexion
10.12.1. Company Overview
10.12.2. Financial Performance
10.12.3. Product Benchmarking
10.12.4. Recent Development
10.13. Kangnam Chemical Co. Ltd.
10.13.1. Company Overview
10.13.2. Financial Performance
10.13.3. Product Benchmarking
10.13.4. Recent Development
10.14. Kolon Industries Inc.
10.14.1. Company Overview
10.14.2. Financial Performance
10.14.3. Product Benchmarking
10.14.4. Recent Development
10.15. Momentive Specialty Chemicals
10.15.1. Company Overview
10.15.2. Financial Performance
10.15.3. Product Benchmarking
10.15.4. Recent Development
10.16. Olympic Panel Products LLC
10.16.1. Company Overview
10.16.2. Financial Performance
10.16.3. Product Benchmarking
10.16.4. Recent Development
10.17. Owens Corning
10.17.1. Company Overview
10.17.2. Financial Performance
10.17.3. Product Benchmarking
10.17.4. Recent Development
10.18. Red Avenue New Materials
10.18.1. Company Overview
10.18.2. Financial Performance
10.18.3. Product Benchmarking
10.18.4. Recent Development
10.19. SI Group Inc.
10.19.1. Company Overview
10.19.2. Financial Performance
10.19.3. Product Benchmarking
10.19.4. Recent Development
10.20. Sumitomo Bakelite Co. Ltd.
10.20.1. Company Overview
10.20.2. Financial Performance
10.20.3. Product Benchmarking
10.20.4. Recent Development
10.21. Yushiju Chemical
10.21.1. Company Overview
10.21.2. Financial Performance
10.21.3. Product Benchmarking
10.21.4. Recent Development
10.22. Zhejiang Hangmo
10.22.1. Company Overview
10.22.2. Financial Performance
10.22.3. Product Benchmarking
10.22.4. Recent Development

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