Middle East and Africa Phenolic Resin Market

Posted by chetana on April 16th, 2021

Middle East and Africa Phenolic Resin Market was valued at USD 819 Mn in 2019 and is expected to reach at USD 1453 Mn by 2027 at a CAGR of 7.43% over forecast period 2020-2027.

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Wide-ranging R&D initiatives are being raised and undertaken in the MEA market, which has made this region the fastest growing to meet the burgeoning domestic needs that will lead to a positive impact on the market. An increasing demand from Automotive End User is expected to create lucrative opportunities for phonic resin market. The Middle East is one of the most important markets for automotive manufacturers across the globe. Right from entry-level carmakers that focus on mass-market products to companies with a premium product line-up, every brand wants to gain and increase their market share in this region.

GCC phenolic resin market is dominating MEA& Africa market. GCC phenolic resin market was valued at USD xx Mn in 2019 and is expected to reach at USD xx% Mn at a CAGR of 8.00% over forecast period. GCC consist of Bahrain, Kuwait, Oman, Qatar, UAE and Saudi Arabia. Among all of these countries Saudi Arabia and is largest market for phenolic resin. The macroeconomic growth in these economies is expected to propel the demand phenolic resin market over forecast period. This growth is also expected to result in increased disposable income of individuals in these countries, thereby presenting lucrative opportunities for the application of phenolic resins in aesthetic products, electronics and construction industries. This is likely to propel the adoption of these resins, thus opening potential avenues of growth for the players in the phenolic resins market.

South Africa market was valued at USD xx Mn in 2029 and is expected to reach at USD xx Mn by 2027 at a CAGR of 6.73% over forecast period. South Africa phenolic resin market is growing at very slow growth rate as compared to other GCC and Rest of MEA& Africa regions. Market across the South Africa is been grappling with weak demand due to sluggish macroeconomic performance. Processors in South Africa also coped with higher operational costs resulting from higher taxes and a cutback in subsidies, and this curbed resin demand within the region.

The volatility in crude oil prices is expected to restrain the growth of the phenolic resins market in this region, as crude oil is a major raw material used in the manufacturing of these resins.

The objective of the report is to present a comprehensive analysis of the Middle East and Africa Phenolic Resin Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Middle East and Africa Phenolic Resin Market dynamics, structure by analyzing the market segments and project the Middle East and Africa Phenolic Resin Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Middle East and Africa Phenolic Resin Market make the report investor’s guide

The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
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Middle East and Africa Phenolic Resin Market, by Type

• Resol Resin
• Novolac Resin
• Others
Middle East and Africa Phenolic Resin Market, by Application

• Wood Adhesives
• Molding
• Foundry
• Insulation
• Laminates
• Others
Middle East and Africa Phenolic Resin Market, by End-User Industry

• Electrical & Electronics
• Automotive
• Building & Construction
• Others
Middle East and Africa Phenolic Resin Market by country

• GCC
• South Africa
• Rest of Middle East and Africa
Middle East and Africa phenolic Resin Market manufacturers and suppliers

• Saudi Industrial Resins Limited
• Chemanol
• Jubail Chemical Industries
• Gulf Chemicals and Industrial Oils Co.
• NCS Resins
• SI Group
• ADD Resins & Chemical Pty Ltd
• Rocbolt Resins Pty Ltd
• Nivitex Fibreglass & Resins Gauteng

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