Phenolic Resins Market To Witness Rapid Growth Due To Rising Demand For Rubber And Friction Materials By 2025: Grand View Research, Inc.

“Grand View Research, Inc. – Market Research And Consulting.rn”
The global phenolic resins market is projected to reach USD 16.0 billion by 2025, according to report by Grand View Research, Inc. Technological advancements have fostered the development of unique heat shields with ablative phenolics for aerospace applications, leading to greater market share in recent years.

According to a report published by Grand View Research, Inc.; the global phenolic resins market is expected to accomplish a valuation of around USD 16.0 billion by 2025. Increasing demand for rubber and friction materials from transportation segment is anticipated to drive the market. Technological advancements in ablative phenolics for aerospace applications are anticipated to further propel growth over the forecast period (2018 to 2025).

Implementation of sustainability standards and rising awareness about resource conservation is driving the demand for green materials. Development of lignin and corn-based renewable feedstock is anticipated to create growth opportunities for the market. Efforts to develop high quality products to retain customer loyalty is anticipated to drive R&D activities. Manufacturers of phenolic resins focus on developing new products and processes that can conserve resources. However, presence of strict regulatory policies may hinder market growth to an extent.

Full Research Report On Phenolic Resins Market Analysis:

U.S. phenolic resins market revenue by product, 2014 – 2025 (USD Million)

 U.S. phenolic resins market revenue by product, 2014 - 2025 (USD Million)

The worldwide phenolic resins market is segmented on the basis of product, application, and region. As per product, the market is divided into novolac, resol, and others. Novolac segment led  with nearly 50% of the market share in terms of volume in 2015. The segment is anticipated to expand at about 5.2% CAGR from 2016 to 2025. These resins are extensively used as a curing agents or hardeners in epoxy applications to complete demand for adhesives, laminates, coatings, and molding materials. Also, they can be used as conventional high-solid varnishes, or as marine and maintenance coatings by cold blending with oils or reacting with several other oils.

The resol segment is further classified into solid and liquid resol resins. The segment is projected to expand at a higher CAGR of 5.7% over the forecast period due to their wide scope of application in fiber bonding, abrasives, and foamed plastics. They are also used in aqueous solutions for clipboard production. Furthermore, application in manufacturing impregnated decorative laminates used in household applications is anticipated to bode well for th segment growth. Solid resol held nearly 80% of the total revenue share in 2015.

Browse More Reports Of This Category By Grand View Research At:

Phenolic resins market volume by application, 2015 (%)

Phenolic resins market volume by application, 2015 (%)

As per application, the market for phenolic resins is categorized into wood adhesives, insulation, molding, paper impregnation, laminates, coatings, and others. Molding segment is projected to showcase fastest CAGR of over 6% over the forecast period. Heat resistant and anti-corrosive properties of the product are anticipated to propel the demand. The wood adhesives segment is expected to hold the largest market share in the forthcoming years owing to high demand from construction, woodworking and furniture sectors. North America is the leading consumer of these adhesives.

Geographically, the phenolic resins market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa (MEA). Latin America is anticipated continue witnessing significant growth during the forecast period. Rising demand and export activities coupled with the presence of low-cost labor and technologies are expected to drive the regional market. Asia Pacific held more than one-third of market share in terms of volume in 2015. Strong presence of end-use industries such as automotive, electronics, and construction can drive the regional demand. High consumer awareness regarding versatile application and low cost of phenolic resins is expected to support regional growth.

Demand for lightweight composites from automotive industry due to strict regulatory policies is expected to impel demand from Asia Pacific region. Moreover, companies from developed regions such as North America and Europe are shifting their production base to developing countries of Southeast Asia. This is expected to boost the regional growth. Expanding woodworking and furniture sectors are also estimated to provide profitable opportunities for regional manufacturers.

Prominent companies operating in the phenolic resins market include Ashland Inc.; Arclin Inc.; Hexcel Corp.; Kolon Industries Inc.; and SI Group Inc.

Grand View Research has segmented the global phenolic resins market on the basis of product, application & region:

Phenolic Resins Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2025)

  • Novolac

  • Resol

  • Others

Phenolic Resins Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2025)

  • Wood Adhesives

  • Molding Compounds

  • Insulation

  • Laminates

  • Paper Impregnation

  • Coatings

  • Others

Phenolic Resins Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2025)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • France

    • Italy

    • Spain

    • UK

  • Asia Pacific

    • China

    • India

    • Japan

    • Southeast Asia

  • Latin America

    • Mexico

    • Brazil

  • Middle East & Africa (MEA)

    • Saudi Arabia

Explore the BI enabled intuitive market research database, Navigate with Grand View Compass, by Grand View Research, Inc.

About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more information:

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:28 2nd Street, Suite 3036
City: San Francisco
State: California
Country: United States