The phenolic resins market is expected to reach USD 14,685.1 million in 2022, growing at a CAGR of around 5.4% from 2022 to 2032, according to a report just released by Fact.MR. Additionally, Fact.MR predicts that by the end of 2032, the market will be valued more than USD 24,782.1 million as a result of factors such as the growing demand for phenolic resins from the electrical and electronics and building and construction industries.
As a result of increased research and development in the phenolic resins industry for higher tensile strength and adhesion, producers are concentrating more on expanding their manufacturing facilities globally. The invention of a type of phenolic resin that is more durable has increased demand in the automobile and aerospace industries.
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Key players in the Phenolic Resins Market
- 3M Company
- DIC Corporation
- Ashland
- Hexcel Corporation
- Arizona Chemical
- Kolon Industries
- Georgia-Pacific Chemicals
- Owens Corning
- Arclin Inc.
- Olympic Panel Products LLC.
- Hardwoods Inc.
- American Micro Industries Inc.
Key Highlights
- Global phenolic resins market is projected to grow at a CAGR of 5.4% during the forecast period to reach USD 24,782.1 million by the end of 2032
- By product type, resol resin is projected to provide an absolute $ opportunity worth USD 5,725.7 million over the forecast period
- Insulation on the other hand is anticipated to account for 26.8% of market share by 2032, grow with a CAGR of around 6.4% over the forecast period
- North America is projected to capture around 32.8% of the global phenolic resins market share by 2032 and be valued at USD 8,135.6 million by 2032
- Europe to provide absolute dollar opportunity worth USD 2,864.5 million by 2032 end growing at a CAGR of 5.2% during 2022-32
Competitive Dashboard
- Market players such as 3M and Arizona Chemicals are continuously performing research & development to increase the strength of phenolic resins to be used in fire retardants, sealant coatings, etc.
- DIC Corporation’s phenolic resins PHENOLITE is gaining huge attention across industries due to its improved properties such as flame resistance, cost-effective, high tensile strength, and chemical resistance.
Industry Survey
- by Type :
- Resol Resins
- Novolac Resins
- Other Product Types
- by Application :
- Insulation
- Paper Impegration
- Wood Adhesives
- Laminates
- Molding
- Other Applications
- by End Use :
- Electrical & Electronics
- Building & Construction
- Furniture
- Automotive
- Other End Uses
- by Region :
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
What makes Fact.MR report stand out from others?
Fact.MR follows a six-point mechanism known as E.V.O.L.V.E. (Evaluate. Visualize. Overcome. Leverage. Verify. Eradicate.). This mechanism focuses on almost all the factors in a definite manner to provide the best research report for the market stakeholders.
• Evaluate: A Fact.MR report evaluates every small aspect that can prove to be a growth generator for the market, thus, making it different and special from other reports.
• Visualize: The authors involved in the research activities visualized the post-COVID-19 era so that the key stakeholders of market get an overview and helps them take certain steps to ensure continuous growth during the forecast period.
• Overcome: The report scrutinizes on points that can prove to be an achilles heel to the market and assists to create strategies to overcome the obstacles that may hinder the growth of the market.
• Leverage: The market can leverage certain aspects that can prove beneficial for the increase in growth rate. Fact.MR covers all the points on which the key stakeholders can leverage upon.
• Verify: Research is done systematically to assure validation of all the aspects covered in the report. All the points are rechecked and verified thoroughly to avoid flaws and fake information.
• Eradicate: Last but not the least, this aspect helps the key stakeholder eradicate all the obstacles that come between the growth rate and the market.
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