Lucintel’s latest market report analyzed that phenolic resin provides attractive opportunities in the wood adhesive, molding compound, laminate, insulation, paper impregnation, and coating applications. The phenolic resin market is expected to reach $14.1 billion by 2025 with a CAGR of 2.7%. In this market, molding compound is the largest segment by application, whereas construction is largest by end use industry. The development of bio based phenolic resin, and increased penetration of phenolic resin in applications where fire, smoke, and toxicity properties are required provides strategic growth path in this market.
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Based on application, the phenolic resin market is segmented into wood adhesive, molding compound, laminates, insulation, coating, Paper Impregnation, and others. The molding compound segment is accounted for the largest share of the market in 2020 due to high heat resistance, mechanical strength and electrical properties and is used in automotive, aerospace, electronics and industrial market and wood adhesive is expected to register the highest CAGR during the forecast period supported by increasing demand for adhesives in furniture, water proof construction panels, beams, and marine plywood.
Browse in-depth TOC on “Phenolic Resin Market”
89 – Tables
138 – Figures
204 – Pages
The phenolic resin market is marked by the presence of several big and small players. Some of the prominent players offering Phenolic resin include Hexion, Shandong Shengquan Chemical Co, Si Group, Sumitomo Bakelite, and Georgia–Pacific and others.
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