The global phenolicresins market is projected to reach USD 16.0 billion by 2025,
according to a new report by Grand View Research, Inc. Technological
advancements have fostered the development of unique heat shields with ablative
phenolics for aerospace applications, leading to greater market share in recent
years.
Development of lignin and corn-based
renewable feedstock have also presented new growth avenues in the industry.
Increasing awareness regarding resource conservation and the implementation of
stringent sustainability standards has positively impacted green materials
demand, encouraging manufacturers to integrate such raw materials into their
products.
Technological advancements have fostered
novel processing methods that conserve greater amount of resources while
producing phenolics, compelling new entrants to invest high in capital funds to
maintain competitive margins in the industry.
Novolac emerged as the dominant product
segment, occupying nearly 50% of the volume share in 2015. These resins are
increasingly being designed for use as hardeners or curing agents in epoxy
applications to meet the demand for laminates, adhesives, molding materials,
and coatings. The segment is expected to grow at around 5.2% CAGR from 2016 to
2025.
Full research report on phenolic resins market
analysis:
Further key findings from the study suggest:
·
Resols are expected to grow at a high CAGR
of 5.7% in terms of volume from 2016 to 2025
·
Solid resins are expected to remain a
dominant sub-segment within resols, accounting for nearly 80% of the revenue
share in 2015. The product is available in lumps, granular or powder form and
is widely utilized as coatings, laminates, adhesives and other products
·
Wood adhesives are expected to remain the
dominant application for phenolics, with high demand generated from the furniture,
woodworking and construction industries
·
Molding compounds are likely to remain the
fastest-growing application, with over 6% CAGR from 2016 to 2025. Growing
petrochemicals industry, in China and India, is crucial to their application in
manufacturing electrical equipment with enhanced efficiency and mechanical
strength
·
Asia Pacific was the largest consumer since
the region is home to major end-use industries such as construction,
electronics and automotive which are expanding at an exponential pace themselves
·
Key companies operating in the industry are
BASF SE, Momentive Specialty Chemicals, Sumitomo Bakelite Co. Ltd.,
Georgia-Pacific Chemicals, and Kolon Industries Inc. Other major participants
may be listed as Owens Corning, Arclin Inc., Olympic Panel Products LLC,
Ashland Inc., DIC Corporation, and Hexcel Corporation
View more reports of this category by Grand
View Research at: https://www.grandviewresearch.com/industry/plastics-polymers-and-resins
Grand View Research has segmented the global phenolic resins market on
the basis of product, application & region:
Phenolic Resins Product Outlook (Volume,
Kilo Tons; Revenue, USD Million, 2014 - 2025)
·
Novolac
·
Resol
·
Others
Phenolic Resins Application Outlook
(Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
·
Wood Adhesives
·
Molding Compounds
·
Insulation
·
Laminates
·
Paper Impregnation
·
Coatings
·
Others
Phenolic Resins Regional Outlook (Volume,
Kilo Tons; Revenue, USD Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
France
o
Italy
o
Spain
o
UK
·
Asia Pacific
o
China
o
India
o
Japan
o
Southeast Asia
·
Latin America
o
Mexico
o
Brazil
·
Middle East & Africa (MEA)
o
Saudi Arabia
Access Full Press Release of this
Report:
https://www.grandviewresearch.com/press-release/global-phenolic-resins-market
https://www.grandviewresearch.com/press-release/global-phenolic-resins-market
About Grand View Research
Grand View
Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
