Phenolic Resin Market Projected to Reach $ 15.01 Billion with 5.8% CAGR

Press Release   •   Feb 24, 2017 06:33 EST

Phenolic resin market is estimated to be valued at USD 11.30 Billion in 2016 and is projected to grow at a CAGR of 5.8% to reach USD 15.01 Billion by 2021.The growth is primarily due to the advanced properties of phenolic resin coupled with the growing automotive industry in the Asia-Pacific region. The factors restraining the growth of this market are the environmental regulations regarding the use of phenol and formaldehyde.

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The global phenolic resin market is segmented by type, namely, resol resin, novolac resin, and others. The market for resol resin is expected to grow at the highest CAGR in the global phenolic resin market from 2016 to 2021. The higher CAGR for resol resin over other types is due to the rising demand from the wood adhesives, molding, and others applications. It offers advantages such as, superior heat resistance, high flexibility, mechanical strength, and moldability, and excellent friction properties.

The molding application is projected to be the fastest growing application in the global phenolic resin market during the forecast period mainly due the rising demand for phenolic resin in the manufacture of appliances, enclosures, housewares, and in the transportation application. The demand for molding is estimated to witness the highest CAGR in the Asia-Pacific region due to the increasing demand for phenolic molding compounds for their strengthening efficiency and providing safety from fire in automobiles.

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The Asia-Pacific region is the largest phenolic resin market. Strong economic development, followed by substantial investments in industries such as, automotive, building & construction, furniture, and electrical & electronics is driving the phenolic resin market. With economic contraction and saturation in the European and North American markets, demand is shifting to the Asia-Pacific region. Moreover, the low cost of production is propelling the growth of phenolic resin in the region.

Breakdown of profiles of primary interviews for the report

  • By Company Type – Tier 1 – 30%, Tier 2 –43%, and Tier 3 – 27%
  • By Designation – C Level – 21%, Director Level – 23%, and Others – 56%
  • By Region – North America – 37%, Europe – 23%, Asia-Pacific – 26%, and RoW – 14%

Some of the key companies profiled in this report are

  • Hexion Inc. (U.S.),
  • Hitachi Chemical Co., Ltd. (Japan),
  • Sumitomo Bakelite Co., Ltd. (Japan),
  • SI Group, Inc. (U.S.),
  • DIC Corporation (Japan),
  • BASF SE (Germany),
  • Kolon Industries, Inc. (South Korea),
  • Shandong Laiwu Runda New Material Co., Ltd. (China),
  • Dujodwala Paper Chemicals Ltd. (India), and Changshu South-East Plastics Co., Ltd. (China), among others.

Browse complete report on “Phenolic Resin Market by Type (Resol Resin, Novolac Resin), Application (Wood Adhesives, Molding, Insulation), End-use Industry (Automotive, building & construction, Furniture) - Global Forecasts to 2021" with 115 market data tables and 69 figures spread through 177 pages and in-depth table of content now available at http://www.rnrmarketresearch.com/phenolic-resin-market-by-type-resol-and-novolac-and-by-application-wood-adhesive-molding-laminates-insulation-and-others-global-trends-forecast-to-2019-market-report.html

Study Coverage

The report is segmented on the basis of type, application, end-use industry, and region. The major types covered in this report are resol resin, novolac resin, and others. The applications include wood adhesives, laminates, molding, foundry, insulation, and others. The end-use industry includes automotive, building & construction, furniture, electrical & electronics, and others. The market is also segmented on the basis of regions including, the Asia-Pacific region, Europe, North America, South America, and Middle East & Africa.

Browse related report with titled:

High Temperature Resin Market by Type (Epoxy, Silicone, Acrylic, Polyester, Polyethersulfone, Alkyd, Polyurethane, Phenolic, Polyetheramide), Appication (Adhesives & Sealants, Paints & Coatings, Composites), and Region - Global Forecast to 2026 sharing details such as The global high temperature resin market is estimated to reach USD 4.88 billion by 2026, at a CAGR of 4.44% from 2016 to 2026. The increasing demand for high temperature resin as an alternative to mechanical fasteners in high end applications, growth in application areas, the increasing demand for high temperature composite resins in railway and aerospace interior applications, and the increasing demand for thermoplastic resins in composite applications is driving the global high temperature resin market. The higher cost of high temperature composites, issues related to recycling of high temperature thermosetting resins, and regulations related to the use of hazardous chemicals, are restraining the growth of the global high temperature resin market.

Now available at http://www.rnrmarketresearch.com/high-temperature-resin-market-by-type-epoxy-silicone-acrylic-polyester-polyethersulfone-alkyd-polyurethane-phenolic-polyetheramide-appication-adhesives-sealants-paints-coatings-composites-and-reg-st-to-2026-market-report.html

Key Benefits

This report covers the following studies which will benefit the client:

  • Market segmentation based on type, application, end-use industry, and region
  • Market dynamics including drivers, restraints, and opportunities
  • Value chain analysis
  • Porter’s Five Forces Analysis with respect to the global phenolic resin market
  • Profile of the key market players in the global phenolic resin market

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