What is Global Phenolic Resin for Friction Materials Market?
The Global Phenolic Resin for Friction Materials Market is a vast and complex field that encompasses a wide range of products and applications. At its core, it refers to the global market for phenolic resin, a synthetic polymer that is used in a variety of friction materials. These materials are used in a wide range of industries, from automotive to railway, aeronautics, and industrial applications. The market for these materials is driven by a variety of factors, including the increasing demand for high-performance materials in various industries, as well as the ongoing advancements in polymer technology.
Liquid Type (Phenolic Resol Resins), Powder Type (Phenolic Novolac Resins) in the Global Phenolic Resin for Friction Materials Market:
Phenolic resin for friction materials comes in two main types: Liquid Type (Phenolic Resol Resins) and Powder Type (Phenolic Novolac Resins). The Liquid Type, or Phenolic Resol Resins, are typically used in applications that require a high degree of flexibility and durability. They are often used in the production of brake pads, clutch facings, and other friction materials. On the other hand, the Powder Type, or Phenolic Novolac Resins, are typically used in applications that require a high degree of heat resistance. They are often used in the production of friction materials for high-temperature applications, such as in the automotive and aerospace industries.
Automotive, Railway, Aeronautics, Industrial in the Global Phenolic Resin for Friction Materials Market:
The Global Phenolic Resin for Friction Materials Market plays a crucial role in a variety of industries. In the automotive industry, for example, phenolic resin is used in the production of brake pads and clutch facings, which are essential components of any vehicle. In the railway industry, phenolic resin is used in the production of brake shoes and other friction materials that are used in train braking systems. In the aeronautics industry, phenolic resin is used in the production of friction materials for aircraft braking systems. Finally, in the industrial sector, phenolic resin is used in a variety of applications, from the production of industrial brake linings to the manufacturing of friction materials for heavy machinery.
Global Phenolic Resin for Friction Materials Market Outlook:
In terms of the market outlook, the Global Phenolic Resin for Friction Materials Market was valued at a substantial US$ 1023 million in 2022. This figure is expected to rise significantly in the coming years, with projections suggesting that the market could reach a value of US$ 1435.6 million by 2029. This represents a Compound Annual Growth Rate (CAGR) of 4.9% during the forecast period from 2023 to 2029. It's also worth noting that the market is dominated by a handful of key players, with the top five manufacturers holding a market share of over 20%. Furthermore, Europe currently stands as the largest market for phenolic resin for friction materials, accounting for around 30% of the global market share.
| Report Metric | Details |
| Report Name | Phenolic Resin for Friction Materials Market |
| Accounted market size in 2023 | US$ 1077.4 million |
| Forecasted market size in 2029 | US$ 1435.6 million |
| CAGR | 4.9 |
| Base Year | 2023 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Sales by Region |
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| By Company | Sumitomo Bakelite, Hexion, Mitsui Chemicals, DIC Corporation, Shengquan Group, KANGNAM CHEMICAL, Shandong Laiwu Runda New Material, Kuentek Cashew, Sprea Misr, Zhejiang Hangzhou Friction Composites |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
