What is Global Phenolic Resins Market?
The Global Phenolic Resins Market is a vast and complex field that encompasses a wide range of products and applications. Phenolic resins, also known as phenol-formaldehyde resins, are synthetic polymers obtained by the reaction of phenol or substituted phenol with formaldehyde. These resins are widely used in various industries due to their high heat resistance, high tensile strength, and excellent chemical resistance. The global market for these resins is continually growing and evolving, driven by increasing demand from various end-use industries such as automotive, construction, and electronics. However, the market is also influenced by various factors such as raw material prices, environmental regulations, and technological advancements.
Thermoplastic Phenolic Resin, Thermosetting Phenolic Resin in the Global Phenolic Resins Market:
The Global Phenolic Resins Market is segmented into two main types: Thermoplastic Phenolic Resin and Thermosetting Phenolic Resin. Thermoplastic Phenolic Resins are linear polymers that become pliable or moldable above a specific temperature and return to a solid state upon cooling. These resins are widely used in applications that require high heat resistance and electrical insulation. On the other hand, Thermosetting Phenolic Resins are cross-linked polymers that undergo a permanent chemical change when heated. They are known for their high mechanical strength, excellent dimensional stability, and superior adhesive properties. These resins are commonly used in applications such as molding compounds, laminates, and coatings.
Wood Adhesives, Foundry, Molding, Abrasive Material, Insulation, Others in the Global Phenolic Resins Market:
The Global Phenolic Resins Market finds extensive usage in various areas such as Wood Adhesives, Foundry, Molding, Abrasive Material, Insulation, and Others. In the Wood Adhesives sector, phenolic resins are used due to their excellent bonding strength and resistance to moisture. In the Foundry industry, these resins are used as binders in sand casting to improve the surface finish of castings. In the Molding sector, phenolic resins are used in the production of molded products such as handles, knobs, and electrical parts. In the Abrasive Material industry, these resins are used as binders in the production of grinding wheels and sandpaper. In the Insulation sector, phenolic resins are used in the production of insulation materials for buildings and electrical appliances.
Global Phenolic Resins Market Outlook:
The global Phenolic Resins market, which was valued at US$ 11980 million in 2022, is expected to reach US$ 15390 million by 2029. This represents a Compound Annual Growth Rate (CAGR) of 3.6% during the forecast period from 2023 to 2029. This growth is driven by various factors such as increasing demand from end-use industries, technological advancements, and the superior properties of phenolic resins. The market is dominated by the top five manufacturers, who collectively hold a market share of about 22%. In terms of product type, Thermosetting Phenolic Resin is the largest segment, accounting for over 83% of the market.
| Report Metric | Details |
| Report Name | Phenolic Resins Market |
| Accounted market size in 2022 | US$ 11980 in million |
| Forecasted market size in 2029 | US$ 15390 million |
| CAGR | 3.6% |
| Base Year | 2022 |
| 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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| Consumption by Region |
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| By Company | Hexion, Jinan Shengquan Group, Sbhpp, Shandong Yushi Giant Chemical, SI Group, Red Avenue New Materials Group, Prefere Resins, Aica Kogyo, Chang Chun Group, Metadynea International, Kolon Industries, Shandong Laiwu Runda, Georgia-Pacific Chemicals, Allnex, Plenco, UCP Chemicals AG, Lerg SA |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
