Phenolic Boards Market to Display Impressive Growth of 3.63% with Rising Demand

Phenolic Boards Market

Demand for phenolic boards is expected to reach US$ 3.5 billion in 2022 and is projected to increase at a CAGR of 3.63% to reach US$ 5.0 billion by 2032. The widespread use of phenolic boards in the Chemicals & Materials industry is responsible for the market’s expansion.

Phenolic board is plywood like material which is manufactured with the help of woven fabrics/ high density thermo-setting cellulose fabrics along with phenolic resins. Phenolic board is also known by the name of phenolic panels. Phenolic board is not made from wood, therefore it does not have problems related to plywood. Phenolic board is manufactured by compressing/pressing woven fabrics/cellulose fabrics with phenolic resins under high pressure. Phenolic boards have high UV resistance, chemical resistance, moisture resistance and abrasion resistance along with high mechanical strength.

On the core surface of phenolic boards numerous materials such as laminates, wood panels can be used, owing to its characteristic properties it is used for different purposes in building and construction industry. Phenolic boards is used in the construction of small cabins or cubicles for changing room, toilets, bathroom etc. Phenolic boards are also used in furniture making and construction of lockers used in changing rooms. Phenolic boards are also used as partitions and as countertops for wash basin/sinks. Phenolic boards can also be used for façade cladding. Phenolic boards in combination with phenolic foams can be used as insulating panels. Phenolic boards are available in different colors as well as different finishes.

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Phenolic Board Market: Regional Outlook

Growing population and rising urbanization has resulted into rise in the number of building & construction activities in Asia Pacific region. Also in the recent years there is substantial rise in residential as well as commercial construction activities especially in the countries such as India and China, owing to which Asia Pacific can be attributed as a prominent market for phenolic board. In the regions such as Europe and North America there is rising demand efficient materials with characteristic properties for building & construction owing to which North America and Europe can be considered as potential markets for phenolic board. Increasing urbanization has resulted into rise in the building & construction activities in Latin America coupled with elevating commercial construction in Middle East & Africa, collectively makes LAMEA a promising market for phenolic board.

Phenolic Board Market: Key Participants

Some of the key participants identified in the global phenolic board market are:

SPIGO Group, Guangdong Yuhua Building Materials Co., Ltd., Mega Plywood Corp., Kingspan Insulation, Sekisui Chemical, Asahi Kasei, Jinan Shengquan Group, Langfang Sanxing Chemical, Linyi Longser Imp. & Exp. Co., Ltd., Linyi Haoqing Wood Co., Ltd., Linyi Baochen Wood Co., Ltd., Shandong Jitong Board Industry Co., Ltd., Stonewood Architectural Panel and Fiberesin Industries among others.

The Phenolic Board market research report presents a comprehensive assessment of the Phenolic Board market and contains thoughtful insights, facts, and historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The Phenolic Board market research report provides analysis and information according to Phenolic Board market segments such as geographies, application and industry.

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Phenolic Board Market: Segmentation

The global phenolic board market can be segmented on the basis of its thickness, application and end-use:

The global phenolic board market can be segmented on the basis of its thickness:

  • ≤40 mm
  • >40 mm

The global phenolic board market can be segmented on the basis of its application:

  • Building & Construction
  • Interior (Bathroom & Toilet Partitions, Interior Partitions, Cubicles etc.)
  • Exterior (Wall Claddings)
  • Insulation Panel
  • Furniture
  • Others (Countertops, screens, truck beds)

The global phenolic board market is segmented on the basis of its end-use:

  • Residential
  • Commercial
  • Industrial