Phenolic Resin Market Report Scope & Overview:

The 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.

Phenolic Resin Market Revenue Analysis

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Market Dynamics:


  • Properties of Phenolic Resins in the 21st Century

  • More homes and businesses are being built in the Asia-Pacific region.


  • Environmental Regulations

  • 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.

Market Segmentation:

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

Phenolic Resin Market Segmentation Analysis

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Regional Analysis:

Researchers in North America, Asia-Pacific, Latin America, Europe, the Middle East, and Africa study the phenolic resins industry. In 2022, 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.


  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The 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

Key Players:

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.

Kolon Industries Inc-Company Financial Analysis

Phenolic Resin Market Report Scope:
Report Attributes Details
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
Base Year 2022
Forecast Period 2023-2030
Historical Data 2020-2021
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

Frequently Asked Questions

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
trade/industrial associations
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. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies US Canada Germany France United Kingdom China Japan South Korea Rest of the World

5. Value Chain Analysis

6. Porter’s 5 forces model

7.  PEST Analysis

8.Phenolic Resin Market Segment, By Type:

8.1 Resol

8.2 Novolac

8.3 Others

9.Phenolic Resin Market Segment, By Application:

9.1 Wood Adhesives

9.2 Laminates

9.3 Foundry & Moldings

9.4 Paper Impregnation

9.5 Coatings

9.6 Insulations

9.7 Others

10.Phenolic Resin Market Segment, By End-Users:

1101 Building & Construction

10.2 Furniture

10.3 Automotive

10.4 Electrical & Electronics

10.5 Others

11. Regional Analysis

11.1 Introduction

11.2 North America

11.2.1 USA

11.2.2 Canada

11.2.3 Mexico

11.3 Europe

11.3.1 Germany

11.3.2 UK

11.3.3 France

11.3.4 Italy

11.3.5 Spain

11.3.6 The Netherlands

11.3.7 Rest of Europe

11.4 Asia-Pacific

11.4.1 Japan

11.4.2 South Korea

11.4.3 China

11.4.4 India

11.4.5 Australia

11.4.6 Rest of Asia-Pacific

11.5 The Middle East & Africa

11.5.1 Israel

11.5.2 UAE

11.5.3 South Africa

11.5.4 Rest

11.6 Latin America

11.6.1 Brazil

11.6.2 Argentina

11.6.3 Rest of Latin America

12. Company Profile

12.1 Kolon Industries Inc.

12.1.1 Financial

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

12.6 Kraton

12.7 Allnex GMBH

12.8 Seiko PMC Corporation

12.9 Bakelite Synthetics

12.10 Sumitomo Bakelite Co. Ltd.

13.Competitive Landscape

13.1 Competitive Benchmark

13.2 Market Share analysis

13.3 Recent Developments

14. Conclusion

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Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

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Primary Research

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Data Bank Validation

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