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.
 |
| U.S. phenolic resins market revenue by product, 2014 - 2025 (USD Million) |
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.
In depth research report on 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
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
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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, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For more market analysis reports, please
visit: http://www.grandviewresearch.com/
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