Report Scope & Overview:
Phenolic Resin Market Size was valued at USD 12.54 billion in 2022, and is expected to reach USD 17.83 billion by 2030, and grow at a CAGR of 4.5% over the forecast period 2023-2030.
Phenolic resins are made by adding phenol to formaldehyde with either an acid catalyst (Novolac) or a base catalyst (Resol). So, there are two kinds of phenolic resins in the world: Resol and Novolac. Both Resol and Novolac resins go through a series of chemical changes so that they can be used in different ways. Most of the time, new functions are added to the end product resin system by adding other monomers to the system. Phenolic resins are used to make glues that are based on rubber. It is used as a tackifier to make the glue stronger and stickier. A tackifier is a part of an adhesive that makes the surface stickier. Phenolic resins are a very important type of adhesive because they are inexpensive and can be made into both liquids and films. The counters and walls inside of banks, train stations, and airports are made of phenolic laminates. In building insulation, phenolic resins are used to make insulation panels. It has high levels of fire, smoke, and toxicity.
Properties of Phenolic Resins in the 21st Century
More homes and businesses are being built in the Asia-Pacific region.
Changes in the prices of raw materials
More and more people want cars that use less gas and weigh less.
Price control to make sure things are affordable
The Availability of Replacements
Impact of Covid-19:
Carbon-based alcohols are mixed together to make phenolic resins, which are high-temperature plastics. Due to the strength of the material, they are mostly used in the automotive industry and to make circuit boards. The pandemic has hurt the value of the phenolic resins market. This is because the COVID19 virus caused several manufacturing plants that used phenolic resin to stop working in order to stop the spread of the virus. The stop in production and manufacturing hurt the market's growth. During the outbreak, trade was cut back and the value chain was messed up, which caused the market value to go down. Since things are getting better, the market is trying to make more money and get better around the world.
Kolon Industries Inc., Asahi Yukizai Corporation, Prefere Resins Holding GmbH, ASK Chemicals, Gunei Chemical Industry Co., Ltd, Kraton, Allnex GMBH, Seiko PMC Corporation, Bakelite Synthetics, Sumitomo Bakelite Co. Ltd.
Foundry & Moldings
Building & Construction
Electrical & Electronics
Researchers in North America, Asia-Pacific, Latin America, Europe, the Middle East, and Africa study the phenolic resins industry. In 2016, most of the market was in the Asia-Pacific region. The region has a one-third share of the market and will grow during the period of the forecast. Due to the high population of the countries in the region, the auto and building industries are growing, which is increasing the phenolic resins market Share. Lightweight composites and phenolic resins are in demand because of the need for electronic dominance and strict government policies. Because the market in Germany is already established, Italy, Spain, and the rest of Europe have the second largest market share. In the North American region, many of the most important economies moved their automotives to countries in south Asia. This is a big reason why the market is growing so quickly. Due to new building projects in the Middle East and Africa, the area is likely to grow over the next few years. Latin America has a steady growth rate, and the growing number of cities in the area could help the market grow.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|Market Size in 2022||US$ 12.54 Billion|
|Market Size by 2030||US$ 17.83 Billion|
|CAGR||CAGR of 4.5% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Type (Resol, Novolac, Others)
• By Application (Wood Adhesives, Laminates, Foundry & Moldings, Paper Impregnation, Coatings, Insulations, Others)
• By End-Users (Building & Construction, Furniture, Automotive, Electrical & Electronics, Others)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Kolon Industries Inc., Asahi Yukizai Corporation, Prefere Resins Holding GmbH, ASK Chemicals, Gunei Chemical Industry Co., Ltd, Kraton, Allnex GMBH, Seiko PMC Corporation, Bakelite Synthetics, Sumitomo Bakelite Co. Ltd.|
|DRIVERS||• Properties of Phenolic Resins in the 21st Century
• More homes and businesses are being built in the Asia-Pacific region.
|Restraints||• Environmental Regulations
• Changes in the prices of raw materials
Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.
Ans: Resol, Novolac and Others are the sub-segments of by type segment.
Ans: Key stakeholders considered in the study:
Raw material vendors
regulatory authorities, including government agencies and NGO
commercial research & development (r&d) institutions
importers and exporters
government organizations, research organizations, and consulting firms
end-use industries are the stake holder of this report
Ans: Properties of Phenolic Resins in the 21st Century and More homes and businesses are being built in the Asia-Pacific region are the drivers for Phenolic Resin Market.
Ans: Phenolic Resin Market Size was valued at USD 12 billion in 2021, and expected to reach USD 16.35 billion by 2028, and grow at a CAGR of 4.5 % over the forecast period 2022-2028.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
126.96.36.199 United Kingdom
188.8.131.52 South Korea
184.108.40.206 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8.Phenolic Resin Market Segment, By Type:
9.Phenolic Resin Market Segment, By Application:
9.1 Wood Adhesives
9.3 Foundry & Moldings
9.4 Paper Impregnation
10.Phenolic Resin Market Segment, By End-Users:
1101 Building & Construction
10.4 Electrical & Electronics
11. Regional Analysis
11.2 North America
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4.2 South Korea
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.3 South Africa
11.6 Latin America
11.6.3 Rest of Latin America
12. Company Profile
12.1 Kolon Industries Inc.
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Asahi Yukizai Corporation
12.3 Prefere Resins Holding GmbH
12.4 ASK Chemicals
12.5 Gunei Chemical Industry Co., Ltd
12.7 Allnex GMBH
12.8 Seiko PMC Corporation
12.9 Bakelite Synthetics
12.10 Sumitomo Bakelite Co. Ltd.
13.1 Competitive Benchmark
13.2 Market Share analysis
13.3 Recent Developments
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