According to a new market report published by Lucintel, 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 as compared to its competitors.
In this market, wood adhesive, molding compounds, laminates, insulation, coating, and paper impregnation are the major applications. 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. Coating is expected to witness the highest growth over the forecast period.
Within the phenolic resin market, 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.
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. North America is expected to witness the highest growth over the forecast period.
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. Hexion, SQ Group, Georgia Pacific Chemicals, Sumitomo Bakelite, and SI Group are among the major suppliers of the phenolic resin market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global phenolic resin market by application, type, end use, and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Global Phenolic Resin Market 2022-2027: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global phenolic resin market by application, type, end use, and region as follow:
By Application [Value ($B) and Volume (Billion Pounds) shipment analysis for 2016 – 2027]:
By Type [Value ($B) and Volume (Billion Pounds) shipment analysis for 2016 – 2027]:
By End Use [Value ($B) and Volume (Billion Pounds) shipment analysis for 2016 – 2027]:
By Region [Value ($B) and Volume (Billion Pounds) shipment analysis for 2016 – 2027]:
-US
-Canada
-Mexico
-Western Europe
-Eastern Europe
-China
-Japan
-India
-Taiwan
-Republic of Korea
-Central/South America
-Middle East
This 208-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link…… helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
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?