Phenolic Resins Market Growing Demand 2022 to 2028

Posted by Roger on April 12th, 2023

Phenolic resins are synthetic polymers derived from the reaction between phenol and formaldehyde. They are widely used in a variety of applications due to their excellent mechanical, electrical, and thermal properties. The global phenolic resins market is expected to grow at a CAGR of around 5% during the forecast period of 2021-2026.

Market Drivers:

• Increasing demand for phenolic resins in the construction and automotive industries due to their excellent fire resistance and mechanical properties.
• Growing use of phenolic resins in the electrical and electronics industry due to their excellent electrical insulation properties.
• Rising demand for molded plastics in the automotive and aerospace industries, which use phenolic resins as a binder.
• Growing demand for adhesives and coatings in various end-use industries.

Market Segmentation: The global phenolic resins market is segmented by product type, application, and geography.

By product type:

• Novolac resins
• Resol resins
• Others

By application:

• Construction
• Automotive
• Electrical and electronics
• Wood adhesives
• Molding compounds
• Coatings
• Others

By geography:

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America

Key Players: Some of the key players in the global phenolic resins market include Hexion Inc., Sumitomo Bakelite Co., Ltd., Mitsui Chemicals, Inc., Georgia-Pacific Chemicals LLC, SI Group, Inc., BASF SE, Kolon Industries, Inc., and Ashland Global Holdings Inc.

Conclusion: The global phenolic resins market is expected to witness significant growth in the coming years, driven by the increasing demand from various end-use industries. The market is highly competitive, with several players focusing on expanding their product portfolios and improving their distribution networks. The market is also witnessing several technological advancements, such as the development of water-based phenolic resins, which are expected to further drive market growth.

Visit Us To More Info - https://www.coherentmarketinsights.com/market-insight/phenolic-resins-market-341 

About Coherent Market Insights

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

Contact Us

Mr. Shah
Coherent Market Insights Pvt Ltd,
533 Airport Boulevard, Suite 400, Burlingame,
CA 94010, United States
Phone: US +12067016702 / UK +4402081334027
JAPAN:+81-50-5539-1737
INDIA:+91-848-285-0837
Email: sales@coherentmarketinsights.com