According to the recent study the phenolic resin market is projected to reach an estimated $24 billion by 2030 from $18 billion in 2023 at a CAGR of 4% from 2023 to 2030. Growth in this market is primarily driven by increasing use of heat resistance, corrosion and chemical resistance materials in construction and transportation industry and lower cost of phenolic resin compared to its competitors.
Browse 141 figures/charts
and 89 tables in this 208-page report to understand trends, opportunities and
forecast in 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).
Lucintel forecasts that
the construction segment will remain the largest end use segment over the
forecast period due to demand for heat resistant material and low cost material
is driving phenolic resin market. Trabsportation is expected to witness the
highest growth over the forecast period.
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.
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phenolic resin market.
Asia Pacific is expected
to remain the largest region and witness the highest growth 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.
Hexion Inc., Georgia
Pacific Chemicals, SI Group, SQ Group, Sumitomo Bakelite Co. Ltd., DIC Corporation,
Mitsui Chemicals, Tembec, Ashland, and Aica Kogyo are the major suppliers in
the phenolic resin market.
This unique 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 write us at helpdesk@lucintel.com.
About Lucintel
At Lucintel, we offer solutions for
you growth through game changer ideas and robust market &
unmet needs analysis. We are based in
Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20
years. We are quoted in several publications like the Wall Street Journal,
ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1 972.636.5056
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