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The future of the phenol market looks promising with opportunities in the chemical, construction, automotive, electronic, communication, and metallurgy industries. The global phenol market is expected to grow with a CAGR of 4%-5% from 2020 to 2025. The major drivers for this market are its growing commercial viability and varied range of application, increasing demand for its derivative, rising construction activities resulting in consumption of phenolic resin in manufacturing of laminated beams, flooring panel, and plywood.
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