According to a new market report published by Lucintel, the future of the phenolic resin market is attractive with opportunities in the wood adhesive, molding compound, laminate, insulation, paper impregnation, and coating applications. The phenolic resin market is expected to reach an estimated $14.53 billion by 2025 and it is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $11.7 billion by 2025 with a CAGR of 2% to 4% from 2020 to 2025. The major drivers for growth in this market are increasing use of materials with fire retardant, heat resistant, and anti-corrosive properties in end use applications.
Browse 89 market data tables and 138 figures spread through 204 pages and in-depth TOC on “Phenolic Resin Market"
To download report brochure, please go to https://www.lucintel.com/phenolic-resin-market.aspx and click "report brochure" tab from the menu .
In this market, wood adhesive, molding compound and laminate are the major applications. On the basis of its comprehensive research, Lucintel forecasts that molding compound is expected to remain the largest application segment by value due to high heat resistance, mechanical strength and electrical properties and is used in automotive, aerospace, electronics and industrial market. Wood adhesive will experience the highest growth over the forecast period supported by increasing demand for adhesives in furniture, water proof construction panels, beams, and marine plywood.
Construction, transportation, electrical & electronic, and furniture are the major end use industries. Construction is expected to be the largest market by value and volume, and will experience the highest growth over the forecast period.
By resin type, resol and novolac are the major resins used to manufacture adhesives, molding compound, and laminate.
Asia Pacific (APAC) is expected to remain the largest region by value and volume. North America is expected to experience the highest growth over the forecast period due to growth in end use industries.
Emerging trends, which have a direct impact on the dynamics of the industry, include the development of bio based phenolic resin, and increased penetration of phenolic resin in applications where fire, smoke, and toxicity properties are required. Hexion, Shandong Shengquan Chemical Co, Si Group, Sumitomo Bakelite, and Georgia–Pacific are some of the major suppliers of phenolic resin market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the phenolic resin market by application type, end use industry, resin, region, and by country and has come up with a comprehensive research report entitled, “Growth Opportunities in the Phenolic Resin Industry 2020-2025: 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 phenolic resin market by application, end use, resin, region and country as follows:
By application (Value ($M) and Volume (M lbs) shipment analysis from 2014 to 2025):
Wood adhesive
Molding compound
Laminate
Insulation
Coating
Paper Impregnation
Others
By end use industry (Value ($M) and Volume (M lbs) shipment analysis from 2014 to 2025):
Construction
Transportation
Electrical and Electronics
Furniture
Industrial
Others
By resin type (Value ($M) and Volume (M lbs) shipment analysis from 2014 to 2025):
Resol phenolic resin
Novolac and other phenolic resin
By region (Value ($M) and Volume (M lbs) shipment analysis from 2014 to 2025):
North America
Europe
APAC
ROW
By country (Value ($M) and Volume (M lbs) shipment analysis from 2014 to 2025):
North America
US
Canada
Mexico
Europe
Western Europe
Central/Eastern Europe
Asia Pacific
China
Japan
India
Taiwan
Republic of Korea
Others
ROW
Middle East
Central/South America
This 204-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 https://www.lucintel.com/phenolic-resin-market.aspx or 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.
Current Press Releases of Lucintel http://www.lucintel.com/press-release.aspx