Global Phenolic Resin Market by Type (Resol, Novolac, Others) and Application (Wood Adhesives, Molding, Insulation, Laminates, Paper Impregnation, Coatings) and Regions (Asia Pacific, Europe, North America, Middle East & Africa, and Latin America) – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
Report ID : QR1001407 | Industries : Others | Published On :January 2022 | Page Count : 239Global Phenolic Resin Market
The phenolic resin market is expected to be worth USD 11.7 billion in 2021, rising to USD 14.4 billion by 2026 at a CAGR of 4.3 percent. The global phenolic resin market is expanding. The growing automotive industry in the region is attributed to the growth of the phenolic resin market. Increased demand for tyres is also contributing to the region's market growth.
Drivers: Global Phenolic Resin Market
The Driving Factors of Global Phenolic Resin Market are Because of their improved properties such as high heat resistance, high moldability, mechanical strength, low smoke toxicity, and ability to blend with polymers, phenolic resins are increasingly being used in a variety of industries. Because of their high heat resistance, they are widely used in automotive parts and electrical switches. Because of their low thermal conductivity, phenolic resins are suitable for use in insulation materials.
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Restraints: Global Phenolic Resin Market
The Global Phenolic Resin Market is at room temperature, phenolic resins are a colourless, flammable gas with a strong odour. The primary raw materials used in their production are formaldehyde and phenol. Phenolic resins are used in the production of composite wood products (hardwood, plywood, particleboard, and medium-density fiberboard), building materials and insulation, paints and coatings, and paper products, among other things.
Impact of COVID-19
The outbreak of COVID-19 and the subsequent halting of various industries around the world has severely impacted demand for phenolic resins. In the early months of 2020, supply shortages, lockdowns, and production suspensions impacted the building and construction and automotive industries in major countries. Due to lockdowns and restrictions imposed to prevent the spread of the virus, demand for new vehicles was low in pandemic-affected countries.
Segmentation by Type
By Type, the Global Phenolic Resin Market is split into Novolac, Resols, Solid Resols, Liquid Resols, Others. Increased awareness of novolac properties such as lightweight, high thermal stability, and improved heat resistance properties in end-use industries such as marine and construction is expected to drive product demand over the forecast period. Furthermore, high moulding capacity or novolac resins are expected to increase in demand in the automotive sector, benefiting market growth.
Segmentation by Application
Based on application, the global Global Phenolic Resin market is segmented into Wood Adhesives, Molding, Insulation, Laminates, Paper Impregnation. Coatings Wood adhesives hold the majority shares and are expected to do so over the forecast period due to increasing demand for these in domestic furniture. Further, increasing awareness regarding wood adhesives properties such as moisture and water resistance and others by end-use industries are expected to create growth opportunities for the market.
Segmentation by Region
Asia Pacific dominated the phenolic resins market in 2020, and this dominance is expected to continue throughout the forecast period. These resins are widely used in the production of automotive parts such as braking pads, disc brakes, disc linings, and so on. Rising disposable income as a result of economic development is expected to drive market growth in this region.
Competitive Landscape:
Bakelite Synthetics, Sumitomo Bakelite Company Limited, SI Group Inc., Jinan Shengquan Group Share Holding Co., Ltd., Ashland Global Holdings, Inc., BASF SE, Georgia-Pacific Chemicals, DIC Corp, Hexcel Corporation, Akrochem Corporation.
Industrial Development:
SI Group planned to increase it resole production capacity in Rotterdam Junction, New York, and Lote, India, by 25% by 2021.
Hexion, Inc.'s Phenolic Specialty Resin, Hexamine, and European-based Forest Products Resins businesses were acquired by Black Diamond and Invest industrial in 2020.
Market taxonomy
By Type
- Resol
- Novolac
- Others
By Application
- Wood Adhesives
- Molding
- Insulation
- Laminates
- Paper Impregnation
- Coatings
By region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Global Phenolic Resin Market TOC
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Phenolic Resin Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Phenolic Resin Market, By Type
5.1 Y-o-Y Growth Comparison, By Type
5.2 Global Phenolic Resin Market Share Analysis, By Type
5.3 Global Phenolic Resin Market Size and Forecast, By Type
5.3.1 Resol
5.3.2 Novolac
5.3.3 Others
6 Global Phenolic Resin Market, By Application
6.1 Y-o-Y Growth Comparison, By application
6.2 Global Phenolic Resin Market Share Analysis, By application
6.3 Global Phenolic Resin Market Size and Forecast, By application
6.3.1 Wood Adhesives
6.3.2 Molding
6.3.3 Insulation
6.3.4 Laminates
6.3.5 Paper Impregnation
6.3.6 Coatings
7 Global Phenolic Resin Market, By Region
7.1 Global Phenolic Resin Market Share Analysis, By Region
7.2 Global Phenolic Resin Market Share Analysis, By Region
7.3 Global Phenolic Resin Market Size and Forecast, By Region
8 North America Global Phenolic Resin Market Analysis and Forecast (2021-2027)
8.1 Introduction
8.2 North America Global Phenolic Resin Market Share Analysis, By Type
8.3 North America Global Phenolic Resin Market Size and Forecast, By application
8.4 North America Global Phenolic Resin Market Size and Forecast, By End User
8.5 North America Global Phenolic Resin Market Size and Forecast, By Country
8.5.1 U.S.
8.5.2 Canada
8.5.3 Mexico
9 Europe Global Phenolic Resin Market Analysis and Forecast (2021-2027)
9.1 Introduction
9.2 Europe Global Phenolic Resin Market Share Analysis, By Type
9.3 Europe Global Phenolic Resin Market Size and Forecast, By application
9.4 Europe Global Phenolic Resin Market Size and Forecast, By End User
9.5 Europe Global Phenolic Resin Market Size and Forecast, By Country
9.5.1 Germany
9.5.2 France
9.5.3 UK
9.5.4. Rest of Europe
10 Asia Pacific Global Phenolic Resin Market Analysis and Forecast (2021-2027)
10.1 Introduction
10.2 Asia Pacific Global Phenolic Resin Market Share Analysis, By Type
10.3 Asia Pacific Global Phenolic Resin Market Size and Forecast, By application
10.4 Asia Pacific Global Phenolic Resin Market Size and Forecast, By End User
10.5 Asia Pacific Global Phenolic Resin Market Size and Forecast, By Country
10.5.1 China
10.5.2 Japan
10.5.3 India
10.5.4. Rest of Asia Pacific
11 Latin America Global Phenolic Resin Market Analysis and Forecast (2021-2027)
11.1 Introduction
11.2 Latin America Global Phenolic Resin Market Share Analysis, By Type
11.3 Latin America Global Phenolic Resin Market Size and Forecast, By application
11.4 Latin America Global Phenolic Resin Market Size and Forecast, By End User
11.5 Latin America Global Phenolic Resin Market Size and Forecast, Country
11.5.1. Brazil
11.5.2. Rest of Latin America
12 Middle East Global Phenolic Resin Market Analysis and Forecast (2021-2027)
12.1 Introduction
12.2 Middle East Global Phenolic Resin Market Share Analysis, By Type
12.3 Middle East Global Phenolic Resin Market Size and Forecast, By application
12.4 Middle East Global Phenolic Resin Market Size and Forecast, By End User
12.5 Middle East Global Phenolic Resin Market Size and Forecast, By Country
12.5.1. Saudi Arabia
12.5.2. UAE
12.5.3. Egypt
12.5.4. Kuwait
12.5.5. South Africa
13 Competitive Analysis
13.1 Competition Dashboard
13.2 Market share Analysis of Top Vendors
13.3 Key Development Strategies
14 Company Profiles
14.1 Bakelite Synthetics
14.1.1 Overview
14.1.2 Offerings
14.1.3 Key Financials
14.1.4 Business Segment & Geographic Overview
14.1.5 Key Market Developments
14.1.6 Key Strategies
14.2. Sumitomo Bakelite Company Limited
14.2.1 Overview
14.2.2 Offerings
14.2.3 Key Financials
14.2.4 Business Segment & Geographic Overview
14.2.5 Key Market Developments
14.2.6 Key Strategies
14.3. SI Group Inc.
14.3.1 Overview
14.3.2 Offerings
14.3.3 Key Financials
14.3.4 Business Segment & Geographic Overview
14.3.5 Key Market Developments
14.3.6 Key Strategies
14.4 Jinan Shengquan Group Share Holding Co., Ltd
14.4.1 Overview
14.4.2 Offerings
14.4.3 Key Financials
14.4.4 Business Segment & Geographic Overview
14.4.5 Key Market Developments
14.4.6 Key Strategies
14.5 Ashland Global Holdings, Inc.
14.5.1 Overview
14.5.2 Offerings
14.5.3 Key Financials
14.5.4 Business Segment & Geographic Overview
14.5.5 Key Market Developments
14.5.6 Key Strategies
14.6 BASF SE
14.6.1 Overview
14.6.2 Offerings
14.6.3 Key Financials
14.6.4 Business Segment & Geographic Overview
14.6.5 Key Market Developments
14.6.6 Key Strategies
14.7 Georgia-Pacific Chemicals
14.7.1 Overview
14.7.2 Offerings
14.7.3 Key Financials
14.7.4 Business Segment & Geographic Overview
14.7.5 Key Market Developments
14.7.6 Key Strategies
14.8 DIC Corp
14.8.1 Overview
14.8.2 Offerings
14.8.3 Key Financials
14.8.4 Business Segment & Geographic Overview
14.8.5 Key Market Developments
14.8.6 Key Strategies
14.9 Hexcel Corporation
14.9.1 Overview
14.9.2 Offerings
14.9.3 Key Financials
14.9.4 Business Segment & Geographic Overview
14.9.5 Key Market Developments
14.9.6 Key Strategies
14.10 Akrochem Corporation.
14.10.1 Overview
14.10.2 Offerings
14.10.3 Key Financials
14.10.4 Business Segment & Geographic Overview
14.10.5 Key Market Developments
14.10.6 Key Strategies