What is Phenolic Resin Market?
Phenolic resin is known as phenolic formaldehyde resin (PF). It is synthetic resin. It is produced from the polymerization of a phenol (C6H5OH) and a formaldehyde (CH2C=O). This resin is used in a numerous industries for insulation, coatings and adhesives purpose. It is mainly used in the production of moulded products like laboratory countertops, oil well proppants etc. Rising demand in end use industries for coatings, adhesives for automobiles and for other coatings is impacting on the demand for phenolic resin in positive manner. In addition, rising inclination towards using bio based resin has created growth opportunities for the market. Geographically, Asia Pacific region is estimated to be the fastest-growing market. The growth is attributed with rising investment in building & construction industry in the region.
The market study is being classified by Type (Novolac Resin and Resoles Resin), by Application (Paintings & Coatings, Insulation, Adhesives & Sealants, Laminates and Others) and major geographies with country level break-up.
BASF SE (Germany), Bakelite Synthetics (United States), Capital Resin Corporation (United States), Sumitomo Bakelite Company Limited (Japan), The Chemical Company (United States), SI Group Inc. (United States), Jinan Shengquan Group Share Holding Co., Ltd.(China), Abelin Polymers (India), Ashland Global Holdings, Inc. (United States), Peninsula Polymers, LLC (United States), Georgia-Pacific Chemicals' (United States), DIC Corp (Japan), Hexcel Corporation (United States), Palmer Holland, Inc. (United States), Akrochem Corporation (United States) and Synpol Products Private Limited (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Romit Resins Pvt. Ltd. (India), Polyols & Polymers Pvt.Ltd. (India) and Uniform Synthetics (India).
The market of phenolic resin is expected to grow with increasing demand for wide range of applications in number of end use industries. Several companies are operating in the market to provide Phenolic Resin. The market is highly fragmented with the presence of several market players. In addition, many local vendors are providing their broad product portfolio which in turn increasing competitive rivalry.
Analyst at AMA have segmented the market study of Global Phenolic Resin market by Type, Application and Region.
On the basis of geography, the market of Phenolic Resin has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rising demand for Phenolic Resin for Insulation of Automobiles and Electronics
- Increasing Expenditure of Paint & Coatings in Number of End Use Industries
- Growing Inclination towards Bio based Phenolic Resin
- More Preference for Phenolic Resin for Laminates
- Least Toughness may limits its Applicability in certain Industries
- Augmenting Rubber & Plastics Industrial Production in Southeast Asian Countries has Created Growth Opportunities
- Increasing Demand for Phenolic Resin for Automobile Industry
- Availability of Alternatives
- High Number of Players Present in the Market
In July 2020, Allnex the leading supplier of specialty chemicals has launched PHENODUR PR 787/50MP which is new, eco-friendly phenolic resin. It is highly recommended for interior and exterior can coatings. It contains ultralow free-formaldehyde. With this launch, company has expanded its broad portfolio of coating resins, additives and cross-linkers.
Key Target AudiencePhenolic Resin Manufacturers, Phenolic Resin Suppliers/Distributors, Components Suppliers, New Entrants/Investors, Strategic Business Planners, Governments and End Use Industry
Frequently Asked Questions (FAQ):
1. Which factors would majorly drive the Phenolic Resin Market?
"Rising demand for Phenolic Resin for Insulation of Automobiles and Electronics
" is seen as one of major growth factors of Phenolic Resin Market in years to come.
2. Can we have customized study for Phenolic Resin Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.
3. Which region will lead the Global Phenolic Resin Market?
will lead Phenolic Resin Market in coming years.