Phenolic Resin Market is Forecasted to Reach US$ 7.2 Billion in 2028, Says Stratview Research

Stratview Research, a global market research firm has launched a report on the global phenolic resin market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Market Statistics:

Market Size in 2028: US$ 7.2 billion

Growth (CAGR): 3.6% during 2023-2028

Leading Application Type: Wood Adhesive

Leading Resin Type: Resole

Leading Region: Asia-Pacific

Forecast Period: 2023-2028

Trend Period: 2017-2021

Base Year: 2022

Number of Segments Covered: 3

Number of Tables & Graphs: 100+

Country-Level Market Assessment: 20

Segment Insights on the Phenolic Resin Market:

The global phenolic resin market is segmented based on application type, resin type, and region.

Based on application type – The phenolic resin market is segmented into wood adhesives, molding compounds, laminates, refractories, insulation, and others. Wood adhesives dominated the market and are expected to remain the dominant application during the forecast period, owing to rising wood-based panel production, increasing demand for phenolic resin in wood adhesive applications, and increasing usage of wood panels in different applications.

Based on resin type – The market is segmented into resole and novolac. Resole is expected to remain the dominant as well as the fastest-growing resin type in the market during the forecast period owing to its excellent combination of properties, such as high strength and durability, water resistance, heat resistance, resistance to a wide range of chemicals, and ease of use.

To know the most attractive segments, click here for a free sample of the report:

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Asia-Pacific is expected to remain the largest as well as the fastest-growing market for phenolic resins during the forecast period. This growth outlook is majorly attributed to the following–

·      Growing investment in various industries, including automotive, construction, and electrical & electronics, and rising disposable income are some key factors that drive the region’s market.

·      China is the leading producer and consumer of phenolic resin. India and Japan are the other key countries in the region.

·      Europe and North America are the other two major phenolic resin markets and will likely exhibit healthy growth rates over the next five years.

Phenolic Resin Market Drivers:

Some of the key drivers listed in the report are given below.

·      The increasing growth rate of automotive, aerospace, construction, electronics, and packaging industries,

·      Growing demand for phenolic resins for different applications, and key properties of phenolic resin, such as high strength, durability, water, chemical, heat, and fire resistance, and dimensional stability.

Top 6 Companies in the Phenolic Resin Market:

Stratview Research has identified the following companies as the top market players (arranged alphabetically).

• Bakelite Synthetics
• Dynea SA
• Jinan Shengquan Group Share-Holding Co., Ltd.
• Prefere Resins Holding GmbH
• Shandong Yushiju Chemical Co., Ltd.
• Sumitomo Bakelite Co., Ltd.

What Unique Insights Does This Report Offer?

This report provides comprehensive insights into the market, answering critical questions like

-      How big is the sales opportunity?

-      Which regions offer the best sales opportunities?

-      Which are the most attractive market segments?

-      Which are the top players and their market positioning?

-      How complex is the business environment?

-      What are the factors affecting the market?

For Customization or Any Other Queries, get in Touch with our industry experts at sales@stratviewresearch.com

Related Reports:

·      Phenolic Resin Market for Wood Processing

·      Phenolic Resin Market for Laminates

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About us –

Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

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