According to a new market report published by Lucintel, the future of the phenolic resin market is attractive with opportunities in the wood adhesive, molding compound, laminate, insulation, paper impregnation, and coating applications. The phenolic resin market is expected to reach an estimated $14.53 billion by 2024 and it is forecast to grow at a CAGR of 5.1% from 2019 to 2024. The major drivers for growth in this market are increasing use of materials with fire retardant, heat resistant, and anti-corrosive properties in end use applications.
Browse 89 market data tables and 138 figures spread through 204 pages and in-depth TOC on “Phenolic Resin Market”
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In this market, wood adhesive, molding compound and laminate are the major applications. On the basis of its comprehensive research, Lucintel forecasts that molding compound is expected to remain the largest application segment by value due to high heat resistance, mechanical strength and electrical properties and is used in automotive, aerospace, electronics and industrial market. Wood adhesive will experience the highest growth over the forecast period supported by increasing demand for adhesives in furniture, water proof construction panels, beams, and marine plywood.
Construction, transportation, electrical & electronic, and furniture are the major end use industries. Construction is expected to be the largest market by value and volume, and will experience the highest growth over the forecast period.
By resin type, resol and novolac are the major resins used to manufacture adhesives, molding compound, and laminate.
Asia Pacific (APAC) is expected to remain the largest region by value and volume. North America is expected to experience the highest growth over the forecast period due to growth in end use industries.
Emerging trends, which have a direct impact on the dynamics of the industry, include the development of bio based phenolic resin, and increased penetration of phenolic resin in applications where fire, smoke, and toxicity properties are required. Hexion, Shandong Shengquan Chemical Co, Si Group, Sumitomo Bakelite, and Georgia–Pacific are some of the major suppliers of phenolic resin market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the phenolic resin market by application type, end use industry, resin, region, and by country and has come up with a comprehensive research report entitled, “Growth Opportunities in the Phenolic Resin Industry 2019-2024: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions.
The study includes a forecast for the phenolic resin market by application, end use, resin, region and country as follows:
By application (Value ($M) and Volume (M lbs) shipment analysis from 2013 to 2024):
Wood adhesiveMolding compoundLaminateInsulationCoatingPaper ImpregnationOthers
By end use industry (Value ($M) and Volume (M lbs) shipment analysis from 2013 to 2024):
ConstructionTransportationElectrical and ElectronicsFurnitureIndustrialOthers
By resin type (Value ($M) and Volume (M lbs) shipment analysis from 2013 to 2024):
Resol phenolic resinNovolac and other phenolic resin
By region (Value ($M) and Volume (M lbs) shipment analysis from 2013 to 2024):
By country (Value ($M) and Volume (M lbs) shipment analysis from 2013 to 2024):
North AmericaUSCanadaMexicoEuropeWestern EuropeCentral/Eastern EuropeAsia PacificChinaJapanIndiaTaiwanRepublic of KoreaOthersROWMiddle EastCentral/South America
This 204-page 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/phenolic-resin-market.aspx or firstname.lastname@example.org.
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