Dublin, Feb. 24, 2023 (GLOBE NEWSWIRE) -- The "Phenolic Resins Market Size, Share & Trends Analysis Report By Product (Novolac, Resol (Liquid Resol Resin, Solid Resol Resin)), By Application (Wood Adhesives, Molding, Insulations), By Other Applications, By Region, And Segment Forecasts, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global phenolic resins market size is anticipated to reach USD 20.81 billion by 2030, expanding at a CAGR of 5.5% over the forecast period.
Rising usage of phenolic resins across various applications including wood adhesives, molding, insulations, laminates, paper impregnation, coatings, and other applications such as abrasives, composites, carbon binders, friction materials, sound-roof bonding felt, and tires & rubbers are likely to present lucrative opportunities for phenolic resins during the forecast period.
Novolac resin, a type of phenolic resin, is ideal for making automotive parts like suspension, seats, bottom plates, tires, brake pistons, brake block & pads, brake linings, and clutch facing because it has excellent impact resistance, high strength, fire resistance, thermal resistance, chemical resistance, thermal stability, flexibility, and surface hardness.
Apart from global players in the industry, a few small and medium-sized regional firms also had an impact on the market. Global players are engaged in fierce competition with regional competitors who have strong distribution networks and in-depth knowledge of phenolic resin suppliers and associated laws.
Companies Mentioned
- DIC CORPORATION
- Kolon Industries, Inc.
- Sumitomo Bakelite Co., Ltd.
- Hexcel Corporation
- Georgia-Pacific Chemicals
- KRATON CORPORATION
- Hexion
- Bostik, Inc.
- SI Group, Inc.
Phenolic Resins Market Report Highlights
- The market is valued at USD 12.95 billion in 2021 and is expected to reach USD 20.81 billion in 2030 at an estimated CAGR of 5.5% from 2022 to 2030, owing to the growth in domestic manufacturing of cabinets, furniture, wall panels, and associated construction materials
- Novolac resin is a type of phenolic resin that offers excellent impact resistance, high strength, fireproof, heat resistance, chemical resistance, thermal stability, flexibility, surface hardness, electrical insulating properties, and lightweight, making it ideal for the production of automotive components such as suspension, seats, bottom plates, and others
- Asia Pacific dominated the global market for phenolic resins in 2021 and is expected to witness significant growth over the forecast period owing to the strong economic development coupled with substantial investment in various application industries such as building & construction, automotive, electrical & electronics, and furniture.
- The emergence of construction companies in Chile and Peru is expected to create growth potential for the market in the region over the forecast period. The presence of key coating manufacturers in the region, including The Sherwin-Williams Company, AkzoNobel NV, and RPM International, Inc., is expected to propel the demand for phenolic resins
Report Metrics:
| Report Attribute | Details |
| No. of Pages | 120 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $13.6 Billion |
| Forecasted Market Value (USD) by 2030 | $20.81 Billion |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Market Variables, Trends, and Scope
3.1. Market Lineage Outlook
3.1.1. Global Plastic Resins Market Lineage Outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Raw Material Trends
3.4. Regulatory Framework
3.4.1. Standard & Compliances
3.4.2. Safety
3.5. Market Dynamics
3.5.1. Market Driver Analysis
3.5.2. Market Restraint Analysis
3.5.3. Market Challenge Analysis
3.5.4. Market Opportunity Analysis
3.6. Industry Analysis - Phenolic Resins Market
Chapter 4. Phenolic Resins Market: Product Estimates & Trend Analysis
4.1. Product movement analysis & market share, 2022 & 2030
4.2. Novolac
4.2.1. Phenolic Resins market, estimate and forecasts, by Novolac, 2019 - 2030 (Kilotons) (USD Million)
4.3. Resol
4.3.1. Phenolic Resins market, estimate and forecasts, by Resol, 2019 - 2030 (Kilotons) (USD Million)
4.3.1.1. Phenolic Resins market, estimate and forecasts, by liquid resol resin, 2019 - 2030 (Kilotons) (USD Million)
4.3.1.2. Phenolic Resins market, estimate and forecasts, by solid resol resin, 2019 - 2030 (Kilotons) (USD Million)
4.4. Others
4.4.1. Phenolic Resins market, estimate and forecasts, by Others, 2019 - 2030 (Kilotons) (USD Million)
Chapter 5. Phenolic Resins Market: Application Estimates & Trend Analysis
5.1. Application movement analysis & market share, 2022 & 2030
5.2. Wood Adhesives
5.2.1. Phenolic Resins market, estimate and forecasts, by Wood Adhesives, 2019 - 2030 (Kilotons) (USD Million)
5.3. Molding
5.3.1. Phenolic Resins market, estimate and forecasts, by Molding, 2019 - 2030 (Kilotons) (USD Million)
5.3.1.1. Phenolic Resins market, estimate and forecasts, by molding compounds, 2019 - 2030 (Kilotons) (USD Million)
5.3.1.2. Phenolic Resins market, estimate and forecasts, by shell molding, 2019 - 2030 (Kilotons) (USD Million)
5.3.1.2.1. Phenolic Resins market, estimate and forecasts, by coated foundry sand, 2019 - 2030 (Kilotons) (USD Million)
5.4. Insulations
5.4.1. Phenolic Resins market, estimate and forecasts, by Insulations, 2019 - 2030 (Kilotons) (USD Million)
5.5. Laminates
5.5.1. Phenolic Resins market, estimate and forecasts, by Laminates, 2019 - 2030 (Kilotons) (USD Million)
5.6. Paper Impregnation
5.6.1. Phenolic Resins market, estimate and forecasts, by Paper Impregnation, 2019 - 2030 (Kilotons) (USD Million)
5.7. Coatings
5.7.1. Phenolic Resins market, estimate and forecasts, by Coatings, 2019 - 2030 (Kilotons) (USD Million)
5.8. Others
5.8.1. Phenolic Resins market, estimate and forecasts, by Others, 2019 - 2030 (Kilotons) (USD Million)
Chapter 6. Phenolic Resins Market: Other Applications Estimates & Trend Analysis
6.1. Other applications movement analysis & market share, 2022 and 2030
6.2. Abrasives
6.3. Composites
6.4. Carbon binders
6.5. Friction materials
6.6. Sound-proof bonding felt
6.7. Tires & rubber
Chapter 7. Phenolic Resins Market: Regional Estimates & Trend Analysis
Chapter 8. Competitive Landscape
8.1. Recent developments & their impact analysis, by key market participants
8.2. Key companies/competition categorization
8.3. Vendor Landscape
8.3.1. List of key Distributors and Channel Partners
8.3.2. Key Potential Customers
8.4. Public & Private Companies
8.4.1. Competitive Dashboard Analysis
Chapter 9. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/zie5kh-resins?w=12
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