Phenolic Resin Market is Forecast to Reach US$ 7.2 Billion in 2028, Says Stratview Research
The Phenolic Resin Market is likely to rise at a CAGR of 3.6% during 2023-2028, to reach US$ 7.2 billion in 2028, states Stratview Research.
DETROIT, Oct. 12, 2023 /PRNewswire/ -- Stratview Research, a global market research firm has launched a report on the Phenolic Resin Market which provides a comprehensive analysis of the global and regional industry forecast, current and emerging trends, segment analysis, and competitive landscape.
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Report Highlights
Market Size in 2028 |
US$ 7.2 Billion in 2028 |
Growth (CAGR) |
3.6% during 2023-2028 |
Forecast Period |
2023-2028 |
Trend Period |
2017-2021 |
Base Year |
2022 |
Number of Segments Covered |
3 |
Number of Tables & Graphs |
60+ |
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 market is segmented into wood adhesives, molding compounds, laminates, refractory, 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 the 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 attractive segments, click here for a free sample pdf:
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Which Region Offers the Best Opportunity and Growth?
The report 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 is majorly attributed to the following –
- Growing investment in various industries, including automotive, construction, electrical, and electronics, and rising disposable income.
- 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.
- In addition, key properties of phenolic resin, such as high strength, durability, water, chemical, heat, and fire resistance, and dimensional stability.
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Top Companies in the Phenolic Resin Market?
The market is highly fragmented, with several local, regional, and global players. Most of the major players compete on some of the governing factors including price, product offerings, regional presence, etc. The following are the key players in the phenolic resin market.
- Bakelite Synthetics
- Jinan Shengquan Group Share-Holding Co., Ltd.
- Sumitomo Bakelite Co., Ltd.
- Prefere Resins Holding GmbH
- Shandong Yushiju Chemical Co., Ltd.
- Dynea SA
What Deliverables Will You Get in this Report?
Key questions this report answers |
Relevant contents in the report |
How big is the sales opportunity? |
In-depth analysis of the Phenolic Resin Market |
How lucrative is the future? |
Market forecast and trend data and emerging trends |
Which regions offer the best sales opportunities? |
Global, regional, and country-level historical data and forecasts |
Which are the most attractive market segments? |
Market segment analysis and forecast |
Who are the top players and their market positioning? |
Competitive landscape analysis, Market share analysis |
How complex is the business environment? |
Porter's five forces analysis, PEST analysis, Life cycle analysis |
What are the factors affecting the market? |
Drivers & challenges |
Will I get the information on my specific requirements? |
10% free customization |
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About us –
Stratview Research is a global market research firm that specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. The reliability and insightfulness of the reports enable the readers to make convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.
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Stratview Research
E-mail: [email protected]
Direct: +1-313-307-4176
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SOURCE Stratview Research
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