Phenolic Panel Market Share, Size, Demand, Growth Analysis & Key Players by ForecastPosted by Stephen Lobo on November 29th, 2022 Phenolic Panel Market research report includes market size, share, drivers, trends and challenges, by end user, and growth rate during the forecast period. The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Phenolic Panel market. The report includes the market analysis by Type (Sandwich, Plain), Class, End-Use Industry (Construction, Marine, Transportation, Aerospace & Defense), Application (Interior, Exterior, Furniture, Air Conditioning Duct Panel), Class, and Region - Global Forecast to 2025. The global Phenolic Panel Market size is expected to grow from USD 1.7 billion in 2020 to USD 2.4 billion by 2025, at a CAGR of 6.5% during the forecast period. The market is growing due to the increase in the demand for phenolic panels in the construction, transportation, and aerospace & defense industries. Phenolic panels are used in the interior, exterior, furniture, and various other applications of end-use industries, such as construction, marine, aerospace & defense, and transportation, to name a few. The main purpose of these phenolic panels is to offer fire-resistance and moisture-resistance properties. For instance, phenolic panels are used in the exterior cladding, partitions, cubicles, and other applications to prevent fire accidents. The global phenolic panel market size was USD 1.7 billion in 2020 and is projected to reach 2.4 billion by 2025, registering a growth of 6.5%. Phenolic Panel Market Segmentation By Type:
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Phenolic panels used in the hot bond process comprises the major share of the market in terms of value. The hot bond segment dominated the market in terms of value in 2019. Adhesives used in the hot bond process offers a strong, long-lasting repair with minimal risk of tearing, snagging, and other wear to the belt. They are mostly polyurethane-based and have a high demand for rubber conveyor belt repairing in the mining & quarrying industry. Interior is the largest application of phenolic panel Amongst all applications, the interior is the largest application of phenolic panel. Phenolic panels are used extensively for aircraft interior, railway interior, decorative interior in construction, partitions, and cubicles in various end-use industries. Superior fire-resistance and chemical resistance offered by the phenolic panel is responsible for the high consumption in an interior application. The construction end-use industry accounted for the largest share in the global phenolic panel market Phenolic panels are used in various end-use industries, such as mining & quarrying, cement & aggregate, steel, and others. The construction industry dominated the global phenolic panel market. The phenolic panel has a large demand for interior applications in the construction industry owing to superior fire resistance characteristics of the phenolic panel, which helps in avoiding fire-related accidents. Europe is the largest phenolic panel market globally. The phenolic panel market is segmented based on region into Europe, North America, APAC, MEA, and South America. Europe is the major consumer of phenolic panels owing to the high demand from the UK, Germany, and other European countries. The UK is the leading market in the region. Major applications of phenolic panels in the European market include building interior, aircraft interior, exterior cladding, furniture, and air conditioning duct panels, among others. The growth of the market is also attributed to the presence of established manufacturers and technological advancement related to the development of phenolic panel products. Get Sample Copy of this Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=22703551 Phenolic Panel Market Key Players
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