Phenolic Resin Market size to increase by USD 4.16 billion from 2023 to 2028 | Akrochem Corp., Ashland Inc., Bakelite GmbH and more among key companies- Technavio

NEW YORK, Dec. 14, 2023 /PRNewswire/ -- The phenolic resin market is expected to grow by USD 4.16 billion from 2023 to 2028. In addition, the growth momentum of the market will be progressing at a CAGR of 5.21% during the forecast period, according to Technavio. Increasing demand for phenolic resins in the automotive industry is notably driving the phenolic resin market. However, factors such as fluctuations in crude oil prices may impede market growth. The market is segmented by Product (Novolac resin, Resol resin, and Others), Application (Molding, Insulation, Wood adhesives, Laminates, and Others), and Geography (APAC, North America, Europe, South America, and Middle East and Africa). We provide a detailed analysis of 20 companies operating in the phenolic resin market including Akrochem Corp., Ashland Inc., Bakelite GmbH, BASF SE, Bostik Ltd., Chevron Corp., DIC Corp., DL Chemical, Georgia Pacific LLC, Hexcel Corp., Jinan Shengquan Group Share Holding Co Ltd, Kolon Industries Inc., Mitsui Chemicals Inc., PJSC LUKOIL, Shandong Laiwu Runda New Material Co. Ltd., Shell plc, SI Group Inc., Sumitomo Bakelite Co. Ltd., Prefere Resins Holding GmbH, and Sasol Ltd.

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Phenolic Resin Market 2024-2028: Company Analysis

• Akrochem Corp.: The company offers phenolic resins such as tackifiers, heat reactive, terpene, and more.

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Phenolic Resin Market 2024-2028: Segmentation

• Product 

The Novolac resin segment is estimated to witness significant growth during the forecast period. Novolac resins are thermoplastic resins made from phenol and formaldehyde through acid catalysis. They cannot react further without the addition of a cross-linking agent. Novolacs are often used in applications such as photoresists, refractories, friction, abrasives, felt binding, wood molding, and electronics, as they are insoluble in water and offer high heat resistance and strength properties. Due to their water resistance, chemical resistance, high strength, and other functionalities, the market for Novolac resins is expected to grow at a high CAGR. As a result, the use and demand for Novolac resin will boost the growth of the global phenolic resin market during the forecast period.

• Geography
                     APAC is estimated to account for 53% of the global market growth during the forecast period.

Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View PDF Free Sample Report

Phenolic Resin Market 2024-2028: Key Highlights

• Historic Market Size 2018-2022
• CAGR of the market during 2024-2028
• Detailed information on factors that will assist phenolic resin market growth during the next five years
• Estimation of the phenolic resin market size and its contribution to the parent market
• Forecasts on upcoming trends and changes in consumer behavior
• The growth of the phenolic resin market
• Analysis of the competitive landscape and detailed information on companies
• Comprehensive details of factors that will impede the growth of phenolic resin market companies

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The  Cumene Market size is estimated to grow at a CAGR of 4.72% between 2022 and 2027 with the market size forecast to increase by USD 6,120.94 million. 

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ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Product

Market Segmentation by Application 

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

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