The global phenolic resins 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.
Browse full report by Grand View
Research : http://www.grandviewresearch.com/industry-analysis/phenolic-resins-market
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
Browse more reports of this category by Grand View
Research: http://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 press release by Grand View Research: http://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.
