Global Phenolic Resins Market Is Projected To Register 5.4% CAGR By 2032
Phenolic Resins Market Outlook (2022-2032)
Worldwide sales of phenolic resins have reached US$ 14.69 billion in 2022, and, as per detailed analysis, the global phenolic resins market is projected to register 5.4% CAGR to reach a valuation of US$ 24.78 billion by 2032.
The global resins market has been proliferating since the past few decades due to increased use in various applications. Resins, being easy to mould and withstand high tension, is the choice for many manufacturers for the replacement of expensive reinforced fibre.
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Phenolic Resins Industry Research by Category
Phenolic Resins Market by Type :
- Resol Resins
- Novolac Resins
- Other Product Types
Phenolic Resins Market by Application :
- Paper Impegration
- Wood Adhesives
- Other Applications
Phenolic Resins Market by End Use :
- Electrical & Electronics
- Building & Construction
- Other End Uses
Phenolic Resins Market by Region :
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
3M Company, DIC Corporation, Owens Corning, Arclin Inc., Olympic Panel Products LLC., Hardwoods Inc., Arizona Chemical, Kolon Industries, Georgia-Pacific Chemicals, Ashland, Hexcel Corporation, American Micro Industries Inc. are key suppliers of phenolic resins.
- Market players such as 3M and Arizona Chemicals are continuously performing research & development to increase the strength of phenolic resins to be used in fire retardants, sealant coatings, etc.
- DIC Corporation’s phenolic resins PHENOLITE is gaining huge attention across industries due to its improved properties such as flame resistance, cost-effective, high tensile strength, and chemical resistance.