The global phenolic resins market is estimated to grow at a CAGR of nearly 5.6% during the forecast period. The major factors encouraging the market growth include superior properties of phenolic resins and a significant rise in applications across automotive and building and construction industry. Phenolic resins contain several desirable properties including superior mechanical strength, dimensional stability, and heat resistance. In addition, it offers high resistance against several acids, solvents, and water. Phenolic resin is a part of thermoset resins that are considered as critical components of high-performance coatings, adhesives, composites, and prepregs. Thermoset resins are regarded as rigid polymeric materials resistant to higher temperatures compared to ordinary thermoplastics.
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As a result, phenolic resins possess superior properties including high-temperature stability up to 300–350°C, good friction properties, high chemical stability, low smoke and toxicity emissions, and excellent fire retardance. Polyoxybenzylmethylenglycolanhydride or Bakelite is a type of phenolic resin, which is utilized in mass transit and ducting. The electrical and aerospace and defense industries are applying phenolic resins owing to its beneficial properties such as excellent dimensional stability and high heat resistance. The applications of phenolic molding compound across these sectors comprise business equipment, wiring devices, electrical commutators, and switches. The significant potential of phenolic resins has led its applications in end-use industry, which in turn, is contributing to the growth of the market.
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Market Segmentation
Global Phenolic Resins Market by Product Type
• Novolac
• Resol
• Others
Global Phenolic Resins Market by Application
• Adhesive
• Molding
• Insulation
• Coatings
• Laminates
• Others
Global Phenolic Resins Market by End-Use Industry
• Automotive and Transportation
• Aerospace and Defense
• Building and Construction
• Electrical and Electronics
• Consumer Goods
• Others
Regional Analysis
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• Rest of Asia-Pacific
• Rest of the World
Company Profiles
• Arclin, Inc.
• Ashland Global Holdings Inc.
• ASK Chemicals GmbH
• BASF SE
• Changshu South-East Plastic Co., Ltd.
• DIC Corp.
• Dujodwala Paper Chemicals Ltd.
• Fenolit d.d.
• Hexcel Corp.
• Hexion Inc.
• Kangnam Chemical Co.‚ Ltd.
• Koch Industries, Inc.
• KOLON Industries, Inc.
• Kraton Corp.
• Lerg S.A.
• Mansoura for Resins & Chemical Industries Co. S.A.E.
• Mitsui Chemicals, Inc.
• Prefere Resins Holding GmbH
• Red Avenue New Materials Group Co., Ltd.
• Shandong Laiwu Runda New Material Co., Ltd.
• Sumitomo Bakelite Co., Ltd.
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