Tue, 26 Jan 2021

Phenolic Resin Market

The new report by Expert Market Research titled, 'Global Phenolic Resin Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026', gives an in-depth analysis of the global phenolic resin market, assessing the market based on its segments like types, applications, end uses, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.

Note 1: For a snapshot of the primary and secondary data of the market (2015-2025), along with business strategies and detailed market segmentation, please click on the request sample report. The sample report shall be delivered to you within 24 hours.

Request a free sample copy in PDF or view the report summary@ https://www.expertmarketresearch.com/reports/phenolic-resin-market/requestsample

The key highlights of the report include:

Market Overview (2015-2025)

  • Historical Market Size (2019): USD 12.2 billion
  • Forecast CAGR (2021-2026): 5.2%
  • Forecast Market Size (2025): USD 16 billion

The phenolic resin market is being driven by the increasing demand for the product in major application sectors. Owing to the thermosetting features of phenolic resins, they are found in myriads of industrial products. The growing demand for plastics with enhanced qualities like strength, high thermal resistance, and others, is driving the sales of phenolic resins. Over the forecast period, the rapid urbanisation across the emerging nations is expected to accelerate the growth rate of the major end use markets, including furniture, automotive, building and construction, and electrical and electronics, which in turn, is projected to drive the growth of the phenolic resin industry. The growing R&D activities will further boost the market growth.

Industry Definition and Major Segments

Phenolic resins, also known as phenol formaldehyde resins, are synthetic polymers produced via the condensation reaction of phenol or substituted phenol with formaldehyde. Being a thermoset, they are widely utilised in the production of moulded products like billiard balls, laboratory countertops, and as coatings and adhesives across various industries.

Explore the full report with the table of contents@ https://www.expertmarketresearch.com/reports/phenolic-resin-market

By type, the phenolic resin industry is divided into:

  • Resol Resin
  • Novolac Resin
  • Others

Among these, resols can be further bifurcated based on type into solid and liquid.

On the basis of application, the industry is divided into:

Based on end use, the industry can be categorised into:

Latest Global News on Phenolic Resin Market@ https://www.expertmarketresearch.com/pressrelease/global-phenolic-resin-market

On the basis of regional markets, the industry is divided into:

1 North America

1.1 United States of America

1.2 Canada

2 Europe

2.1 Germany

2.2 United Kingdom

2.3 France

2.4 Italy

2.5 Others

3 Asia Pacific

3.1 China

3.2 Japan

3.3 India

3.4 ASEAN

3.5 Others

4 Latin America

4.1 Brazil

4.2 Argentina

4.3 Mexico

4.4 Others

5 Middle East & Africa

5.1 Saudi Arabia

5.2 United Arab Emirates

5.3 Nigeria

5.4 South Africa

5.5 Others

Market Trends

The global phenolic resin market is expected to be driven by the growing urbanisation and industrialisation in developing regions like the Asia Pacific. This is expected to enhance the demand for phenolic resins across various sectors. The manufacturers are shifting their production base to the emerging nations owing to the strong demand for the product. Other factors like the rising standards of living, escalating disposable incomes, and increasing construction activities will further boost the industry growth. The growing R&D activities to develop bio-based feedstock for the production of phenolic resins and the growing interest in durable and lightweight phenolic compounds are expected to significantly contribute to the industry growth in the coming years.

Key Market Players

The major players in the market are Ashland Global Holdings Inc. (NYSE: ASH), DIC Corporation (TYO: 4631), Hexcel Corporation (NYSE: HXL), Kolon Industries Inc. (KRX: 120110), Hitachi Chemical Co., Ltd., and Sumitomo Bakelite Co., Ltd. (TYO: 4203), among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.

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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

About Us:

Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.

At Expert Market Research, we tailor our approach according to our clients' needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.

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Determined to bring client satisfaction, we make sure that our tailored approach meets the client's unique market intelligence requirements. Our syndicated and customized research reports cover a wide spectrum of industries ranging from pharmaceuticals and food and beverage to packaging, logistics, and transportation.

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