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Global Phenolic Resin Market (2021 to 2026) - Growing Need for Fuel-efficient and Lightweight Vehicles Presents Opportunities

·7-min read

Dublin, Dec. 16, 2021 (GLOBE NEWSWIRE) -- The "Phenolic Resin Market by Type(Resol, Novolac), Application(Wood Adhesives, Laminates, Foundry & Moldings, Paper Impregnation, Coatings, Insulations), End-Use Industry, and Region(North America, Europe, APAC, MEA, South America) - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The phenolic resin market is estimated to be USD 11.7 Billion in 2021 and is projected to reach USD 14.4 Billion by 2026, at a CAGR of 4.3%.

Wood adhesive application is one of the fastest-growing application for phenolic resin. The growing construction industry primarily drives the rise in demand for wood adhesives. The plywood subsegment holds the maximum share of the market in the wood adhesives segment. Asia Pacific accounts for the largest share of the wood adhesive segment. With the presence of growing economies such as India, South Korea, and Indonesia, the demand for phenolic resins in region is expected to increase significantly.

Resol is the largest type of phenolic resin

Resol is the preferred type of phenolic resin used in various end-use industries due to their cost effectiveness, enhanced properties and a wide range of applications. Some of the major applications of resol resin are exterior plywood-oriented strand board (OSB), engineered laminated composite lumber (LCL), engineered woods, and adhesives. Rising demand from the automotive and building & construction industries contributes to the growing demand for resol resin across the globe.

APAC is the fastest-growing market for phenolic resin

APAC is projected to be the fastest-growing phenolic resin market. The growth of the APAC phenolic resin market can be attributed to the growing investment in building & construction, and automotive industry in the region. Additionally, Phenolic resin manufacturers are targeting this region, as it is the strongest regional market. China is the leading producer and consumer of phenolic resins in the region.

Other major markets in the region are emerging economies such as Japan, India, and Thailand.
Extensive primary interviews were conducted in the process of determining and verifying sizes of the type, application, end-use industry segments of the phenolic resin market gathered through secondary research.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Significant Opportunities in Phenolic Resin Market
4.2 Asia-Pacific Phenolic Resin Market, by Country and Type, 2020
4.3 Phenolic Resin Market Size, by Type, 2021 Vs. 2026
4.4 Phenolic Resin Market Size, by Application, 2021 Vs. 2026
4.5 Phenolic Resin Market Size, by End-Use Industry, 2021 Vs. 2026
4.6 Phenolic Resin Market Size, by Country

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Advanced Properties of Phenolic Resins
5.2.1.2 Rise in Residential and Commercial Building Construction in Asia-Pacific
5.2.1.3 Growing Wood Industry
5.2.2 Restraints
5.2.2.1 Environmental Regulations
5.2.2.2 Volatility in Raw Material Prices
5.2.3 Opportunities
5.2.3.1 Growing Need for Fuel-Efficient and Lightweight Vehicles
5.2.4 Challenges
5.2.4.1 Controlling Prices to Ensure Affordability
5.2.4.2 Availability of Substitutes
5.3 Porter's Five Forces Analysis
5.3.1 Threat of New Entrants
5.3.2 Threat of Substitutes
5.3.3 Bargaining Power of Suppliers
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Competitive Rivalry
5.4 Value Chain Analysis
5.4.1 Industry Structure
5.4.2 Raw Material Supply Agreement
5.4.3 End-Use Connect Through Distributors
5.4.4 Supporting Factor for Market Growth
5.4.5 Impact of COVID-19
5.5 Cost Structure
5.6 Average Price Analysis
5.7 Burning Issues
5.8 Ecosystem Market Map
5.9 Trends/Disruptions Impacting Customers' Businesses (Yc & Ycc Shift)
5.10 Macroeconomic Indicators
5.11 Operational Data and Key Industry Trends
5.12 COVID-19 Impact
5.13 Regulatory Landscape
5.14 Trade Analysis
5.15 Case Study
5.16 Patent Analysis

6 Phenolic Resin Market, by Type
6.1 Introduction
6.1.1 Difference Between Resol Resin and Novolac Resin
6.2 Resol Resin
6.2.1 Increased Applications due to Enhanced Properties
6.3 Novolac Resin
6.3.1 Canada to Witness Slow Growth due to Environmental Regulations on Phenol Use
6.4 Others
6.4.1 Bio-Phenolic Resin
6.4.2 Cresol Novolac
6.4.3 Formaldehyde-Free Phenolic Resin

7 Phenolic Resin Market, by Application
7.1 Introduction
7.2 Wood Adhesives
7.2.1 Growth of Phenolic Resin Market due to Increasing End-Use Applications
7.2.1.1 Plywood
7.2.1.2 Laminated Veneer Lumber (Lvl)
7.2.1.3 Oriented Strand Board (Osb)
7.3 Laminates
7.3.1 Growing Demand from Furniture and Building & Construction End-Use Industries to Drive Market
7.3.2 Copper Clad Laminates
7.3.3 Cotton Cloth Laminated Rod
7.4 Foundry & Moldings
7.4.1 Enhanced Properties of Phenolic Resin to Drive Market in Foundry Application
7.4.1.1 Foundry
7.4.1.1.1 Sand Binders
7.4.1.1.2 Refractory Products
7.4.1.2 Molding
7.4.1.2.1 Coil Bobbin
7.4.1.2.2 Commutators
7.5 Paper Impregnation
7.5.1 Growth of Building & Construction Industry to Drive Market
7.6 Coatings
7.6.1 Major End-Use Industries Boosting Market Growth
7.7 Insulation
7.7.1 Glass Wool Thermal Insulation
7.7.2 Rock Wool Thermal Insulation
7.8 Others
7.8.1 Abrasives
7.8.2 Friction Materials
7.8.3 Foam

8 Phenolic Resin Market, by End-Use Industry
8.1 Introduction
8.2 Building & Construction
8.2.1 Increase in Infrastructure Investments Post COVID-19 Pandemic
8.3 Furniture
8.3.1 Growing Disposable Income and Rapid Urbanization Driving Market
8.4 Automotive
8.4.1 Well-Established Automotive End-Use Industry to Drive Phenolic Resin Market
8.5 Electrical & Electronics
8.5.1 Growing Electrical & Electronics Equipment Sales to Drive Market
8.6 Others

9 Phenolic Resin Market, by Region

10 Competitive Landscape
10.1 Introduction
10.2 Market Share Analysis
10.3 Competitive Leadership Mapping, 2021
10.3.1 Star
10.3.2 Emerging Leaders
10.3.3 Pervasive
10.3.4 Participants
10.3.5 Small and Medium-Sized Enterprises (SME) Evaluation Matrix
10.3.5.1 Progressive Companies
10.3.5.2 Responsive Companies
10.3.5.3 Dynamic Companies
10.3.5.4 Starting Blocks
10.4 Strength of Product Portfolio
10.5 Business Strategy Excellence
10.6 Key Market Development
10.6.1 Expansions
10.6.2 Acquisitions

11 Company Profiles
11.1 Key Player
11.1.1 Bakelite Synthetics
11.1.2 Sumitomo Bakelite Company Limited
11.1.3 Si Group Inc.
11.1.4 Jinan Shengquan Group Share Holding Co., Ltd.
11.1.5 Ashland Global Holdings, Inc.
11.1.6 Basf Se
11.1.7 Georgia-Pacific Chemicals
11.1.8 Dic Corporation
11.1.9 Hexcel Corporation
11.1.10 Akrochem Corporation
11.1.11 Kraton Corporation
11.1.12 Showa Denko Materials Co., Ltd.
11.1.13 Changshu South-East Plastic Co., Ltd.
11.1.14 Kangnam Chemical Co., Ltd.
11.1.15 Kolon Industries Inc.
11.1.16 Prefere Resins Holding GmbH
11.1.17 Shandong Laiwu Runda New Material Co., Ltd.
11.1.18 Arclin, Inc.
11.1.19 Mangalam Organics Limited
11.1.20 Mitsui Chemicals, Inc.
11.1.21 Allnex Belgium Sa/Nv (Belgium)
11.1.22 Mansoura for Resins & Chemical Industries Co. (Egypt)
11.1.23 Ucp Chemicals AG (Vienna)

12 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/inknoa

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