Dublin, Dec. 30, 2020 (GLOBE NEWSWIRE) -- The "Phenolic Panel Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
The phenolic panel market is estimated to grow at a CAGR of 5.59% to reach US$2.026 billion in 2025 from US$1.462 billion in 2019.
Phenolic panels have been gaining popularity as a choice of material in the last couple of years on account of its ability to offer enhanced aesthetic appeal. Moreover, the panels are designed in a way which ensures that the surface does not offer necessary condition for the microbial growth.
Furthermore, panels based on phenolic material are significantly superior in terms of its resistance to scratch, water etc., thus, offering relatively better durability. As such, the market demand for phenolic has been witnessing an upwards trajectory in the last couple of years, with the growth projection anticipated to be extremely attractive as well.
Moreover, phenolic panels are considered to be relatively more environmentally friendly in comparison to its immediate substitute, which further makes them more attractive. However, the significant availability of variety of substitutes is likely to impact the market to reach its entire potential.
RISING INVESTMENT IN INFRASTRUCTURE DEVELOPMENT
The investment in the development of infrastructure is expected to increase, more specifically, in emerging and developing countries like India, China, and Vietnam among others. For instance, India and China has been growing above 6% per annum for the last couple of years which is an indicative of development of infrastructure and growing urbanization.
Moreover, in the United States, the non-residential construction spending has increased from US$535,686,322 million in 2011 to US$814,195 million in 2019 (source: United States Census Bureau) while similar trend has been noticed in Europe. Thus, the growing investment in the development of infrastructure is expected to continue to drive the growth of the phenolic panels market during the forecast period.
The investment in the construction of commercial infrastructure has been increasing globally. The spending in the construction of offices and schools and universities has surged in the recent years in Great Britain as the focus on improving the human capital and reducing the unemployment continues.
Moreover, despite the threat of e-commerce, the preference of individuals to continue with in-store shopping is expected to increase the investment in the construction of malls. It can be reflected from the fact that the China shopping development index rose by 1.3 points to reach 66.1 in the second quarter of 2018, indicating sound market vitality (source: Ministry of Commerce). Similarly, growing tourism arrival in India is driving the construction of hotel and restaurant which is further anticipated to drive the market growth.
Key Topics Covered:
2. Research Methodology
2.1. Research Process and Design
2.2. Research Assumptions
3. Executive Summary
4. Market Dynamics
4.1. Market Segmentation
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Porter's Five Force Analysis
4.6. Industry Value Chain Analysis
5. Phenolic Panel Market Analysis, by Application
6. Phenolic Panel Market Analysis, by Installation
6.3. New Installation
7. Phenolic Panel Market Analysis, by End-User
7.3. Commercial and Industrial
8. Phenolic Panel Market Analysis, by Geography
9. Competitive Environment and Analysis
9.1. Competitive Benchmarking and Analysis
9.2. Recent Investments and Deals
9.3. Strategies of Key Players
10. Company Profiles
10.1. Spigo Group
10.2. Xtratherm Limited
10.3. Milwaukee Composites, Inc.
10.4. Pearl Industries
10.5. Artboard Ab
10.6. Alpha Ducts LLC
10.7. American Architectural Millwork LLC
10.8. Fiberesin Industries
10.9. General Partition Manufacturing Company
10.10. Werzalit of America, Inc.
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