Global Phenolic Resins Market, By Type (Novolac, Resol), By Application (Wood Adhesives, Molding, In

Published Date: | Report Code : CH1958618

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Phenolic Resins are the synthetic polymers that are manufactured from the reaction of formaldehyde and phenol. it has properties such as low toxicity, high mechanical strength, and high heat resistance. It is also water-resistant, which makes it great for use in many applications. The physical and chemical properties of phenolic resins have resulted in the use of them in many niche segment applications such as off-shore oil drilling, which utilizes materials with high heat resistance.

Segment Analysis:

The market for phenolic resins is segmented into type, application, and end-users.

Based on the type, it is segmented into novolac and resol. The resol resin is leading as it has high use in wood adhesives due to its properties of heat resistance, moldability, flexibility, and friction.

On the basis of the application, it is divided into Wood Adhesives, Molding, and Insulation. The application in the wood adhesives segment is the largest, as the construction industry is growing at a rapid pace, which in turn is increasing the demand for wood adhesives. As it is water-resistant, it is used in durable adhesives and binders in structural wood panels and wool insulation. Also the low thermal conductivity of phenolic resin is useful in the insulation materials.

By the end-users, it is segmented into automotive, building & construction, and furniture. The automotive segment is the largest end-user due to the boom in automobile sales. these resins are also used in brake pads, and brake linings. The phenolic resin is used extensively in automobile and electrical switches as it has excellent heat resistance.

Key Factors Impacting Market Growth:

  • Growth of the end-user industries

  • Increasing demand from the tire industry

Regional Analysis:

On the basis of the region, the phenolic resins market has been segmented by North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, & Rest of the World. North America and Western Europe being some of major markets are also traditional suppliers of chemicals such as specialty chemicals, bulk chemicals, and so on. Major companies in this market are headquartered in North America and Western Europe. This region has been witnessing number of transitions in terms of productions of chemicals and respective applications by end-use industries. The preference towards bio-based feedstock has been instrumental in the development of the green alternatives in these regions. Moreover, regulatory authorities have imposed strict guidelines with regards environmental concerns and potential health hazards due to exposures. This has been more instrumental in the Western Europe region competitively. Some of the major economies in these regions include US, Germany, UK, France, Canada, Italy, Spain, and so on.

The Asia Pacific and Middle East are expected to register substantial growth in the phenolic resins market during the forecast period. This demand is with regards to the growth of major end-use industries such as automotive, building & construction, furniture. Major countries in Asia Pacific region include China, South Korea, Japan, India, Australia, and So on. Middle East includes UAE, Saudi Arabia, Iran, Israel, Egypt, and so on. Eastern Europe has been largely dominated by Russia and Turkey with operations of major chemical giants in the region. Rest the World that includes South America and Africa has a strong potential for phenolic resins market. There has been an increasing number of investments by global companies in these regions to strengthen their presence and tap the potential market. Major economies in these regions for the phenolic resin market include Brazil, South Africa, Nigeria, Argentina, Colombia, and others.

Companies Covered: BASF SE, Hitachi Chemical Co. Ltd., Momentive Specialty Chemicals, SI Group, Mitsui Chemical Inc., DIC Corporation and Sumitomo Bakelite Co. Ltd...

Market Segmentation:

By Type:

  • Novolac

  • Resol

By Application:

  • Wood Adhesives

  • Molding

  • Insulation

By End-Users:

  • Automotive

  • Building & Construction

  • Furniture

By Region:

  • North America

    • By Country (US, Canada, Mexico)

    • By Type

    • By Application

    • By End-Users

  • Western Europe

    • By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)

    • By Type

    • By Application

    • By End-Users

  • Eastern Europe

    • By Country (Russia, Turkey, Rest of Eastern Europe)

    • By Type

    • By Application

    • By End-Users

  • Asia Pacific

    • By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)

    • By Type

    • By Application

    • By End-Users

  • Middle East

    • By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)

    • By Type

    • By Application

    • By End-Users

  • Rest of the World

    • By Region (South America, Africa)

    • By Type

    • By Application

    • By End-Users

Reasons To Buy This Report:

  • Market size estimation of the global Phenolic Resins Market on regional and global basis

  • Unique research design for market size estimation and forecast

  • Profiling of major companies operating in the market with key developments

  • Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:

  • By Segment

  • By Sub-segment

  • By Region/Country

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