According to recent reports the future of the global phenolic resin market is attractive with opportunities in wood adhesive, molding compound, laminate, insulation, paper impregnation, and coating applications. The market is expected to reach an estimated $15.0 billion by 2022 and it is forecast to grow at a CAGR of 5.0% from 2017 to 2022.
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 “Global Phenolic Resin Market" www.lucintel.com/phenolic-resin-market-2017-2022.aspx
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.
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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.
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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 global phenolic resin market.
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The study includes a forecast for the global phenolic resin market by application, end use, resin, region and country as follows:
By application (Value ($M) and Volume (M lbs) shipment analysis from 2011 to 2022):
- Wood adhesive
- Molding compound
- Paper Impregnation
By end use industry (Value ($M) and Volume (M lbs) shipment analysis from 2011 to 2022):
- Electrical and Electronics
By resin type (Value ($M) and Volume (M lbs) shipment analysis from 2011 to 2022):
- Resol phenolic resin
- Novolac and other phenolic resin
By region (Value ($M) and Volume (M lbs) shipment analysis from 2011 to 2022):
- North America
By country (Value ($M) and Volume (M lbs) shipment analysis from 2011 to 2022):
- North America
- − US
- − Canada
- − Mexico
- − Western Europe
- − Central/Eastern Europe
- Asia Pacific
- − China
- − Japan
- − India
- − Taiwan
- − Republic of Korea
- − Others
- − Middle East
- − Central/South America
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