Lucintel Forecasts Southeast Asian Phenolic Resin Market to Grow at a CAGR of 4.6%

According to the recent study the Southeast Asian phenolic resin market is projected to grow at a CAGR of 4.6% from 2020 to 2025. Growth in this market is primarily driven by increasing use of heat resistance, corrosion and chemical resistance materials in construction and transportation industry.

Browse 82 figures / charts and 25 tables in this 150 -page report to understand trends, opportunities and forecast in Southeast Asian 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 industry (construction, transportation, electrical and electronics, furniture, and others), and country (Thailand, Singapore, Malaysia, Indonesia, Philippines, Vietnam, and others).

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“Wood adhesive market is expected to remain the largest segment during the forecast period.”

Based on application, the Southeast Asian phenolic resin market is segmented into wood adhesive, molding compounds, laminates, insulation, coating, paper impregnation, and others. Lucintel forecasts that the wood adhesive is expected to witness the largest segment over the forecast period as the use of phenolic resin is growing in wood adhesive applications where heat, pressure, water resistance, and other performance benefits are critical.

“Within the Southeast Asian phenolic resin market, the resole phenolic resin segment is expected to remain the largest type.”

Based on type, the resole phenolic resin segment is expected to witness the largest type over the forecast period due to increasing demand of resole phenolic resin is because novolac is not self-curing; it requires an extra curing agent, whereas resole is selfcurable without an additional catalyst.

“Thailand will dominate the Southeast Asian phenolic resin market in near future.”

Thailand is expected to be the largest region over the forecast period 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.

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Major players of Southeast Asian phenolic resin market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Sumitomo, Thai GCI Resitop, AICA KOGYO, Asta Chem, Malayan Adhesives and Chemicals, Formica Chemicals, ITOCHU Group, Pt Intanwijaya Internasional Tbk, Al Asia and others are among the major Southeast Asian phenolic resin providers.

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 click on this link https://www.lucintel.com/southeast-asian-phenolic-resin-market.aspx or helpdesk@lucintel.com.

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Contact:
Brandon Fitzgerald
Lucintel
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Email: brandon.fitzgerald@lucintel.com
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