Driving Sustainable Solutions: Phenolic Resin Market's Eco-Friendly Trends

Posted by Jack Martin on July 19th, 2023

Phenolic resin is a type of synthetic polymer derived from the chemical reaction between phenol and formaldehyde. It is a thermosetting material, which means it undergoes a permanent chemical change when cured or hardened by heat, pressure, or catalysts. Phenolic resins exhibit excellent thermal stability, mechanical strength, chemical resistance, and flame-retardant properties, making them suitable for various applications. They are widely used in industries such as automotive, construction, electronics, aerospace, and consumer goods for coatings, adhesives, molded parts, laminates, and insulating materials. Due to their versatility and performance characteristics, phenolic resins remain valuable components in modern manufacturing and industrial processes.

The report "Phenolic Resin Market by Type(Resol, Novolac), Application(Wood Adhesives, Laminates, Foundry & Moldings, Paper Impregnation, Coatings, Insulations), End-Use Industry, and Region(North America, Europe, APAC, MEA, South America) - Global Forecast to 2026" The phenolic resin market is projected to reach USD 14.4 Billion by 2026, at a CAGR of 4.3% between 2021 and 2026

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APAC is projected to be the fastest-growing phenolic resin market. The growth of the APAC phenolic resin market can be attributed to the growing investment in building & construction, and automotive industry in the region. Additionally, Phenolic resin manufacturers are targeting this region, as it is the strongest regional market. China is the leading producer and consumer of phenolic resins in the region. Other major markets in the region are emerging economies such as Japan, India, and Thailand.

Bakelite Synthetics (U.S), Sumitomo Bakelite Company Limited (Japan), SI Group Inc. (U.S), Jinan Shengquan Group Share Holding Co., Ltd., (China), Ashland Global Holdings, Inc. (U.S), BASF SE (Germany), Georgia-Pacific Chemicals (U.S), DIC Corp (Japan), Hexcel Corporation (U.S), Akrochem Corporation (U.S).are the leading players operating in the phenolic resin market.