Phenolic Resins Market Overview, Demand, Global Industry Share, COVID-19 Analysis and Growth 2027

Phenolic Resins Market Overview

Phenolic resins are synthetic polymers which are formed by step-growth polymerization. They are known for their outstanding heat resistance and belong to the category of thermo set resins. Phenolic resins find their application in a myriad of industrial products. Phenolic resins are used in molding, insulation, laminated veneer lumber, laminates, sand binders, coatings, foams, abrasives and others.

They are widely used as wood adhesives owing to high bonding strength, heat resistance, excellent water resistance and chemical stability. Being relatively inexpensive and highly versatile, they are used intensively in automotive, electrical, construction and appliance industries. Some features typical of phenolic resins are high strength level, high mechanical stability, excellent fire, and smoke, and low toxicity, superior electrical and thermal insulating capabilities which are driving the market. Market Research Future (MRFR), projects that the global phenolic resins market will grow steadily during the forecast period 2015-2027. Increasing application of phenolic resins in end-user industries has contributed to the growth of the market.

 

Growing R&D activities and increased customization offer lucrative growth opportunities. Increasing demand for phenolic resins in aerospace, transportation and automotive industry has further driven the growth of the market. Due to its versatile nature, more and more industries are trying to integrate phenolic resins into their products to improve their performance. However, environmental regulations regarding formaldehyde emissions might hamper the growth of the market. Phenolic resins are made up of phenol which is a petroleum-based product. Declining fossil fuel reserve coupled with the high price of petroleum might constrain the use of phenolic resins. Furthermore, fluctuations in the price of raw materials, threat from alternatives, high manufacturing, and processing and production costs are major hindrances to the market.

Access Full Report Details and Order this Premium Report @ https://www.marketresearchfuture.com/reports/phenolic-resins-market-1114

Segmentation

The global phenolic resins market has been segmented based on types and applications. By types, the market has been segmented into novolacs and resoles and by applications, the market has been segmented into automobiles, construction, wood adhesives, laminates, molding and others.

 

Regional Analysis

The North America market for phenolic resins is estimated to propel owing to increased industrial activity, rebounding housing activities, and developing applications of phenolic resins in the motor vehicle market in the region. Asia-pacific market for phenolic resins is expected to grow considerably during the forecast period owing to ongoing industrialization and rapid constructional and infrastructural activities in developing economies. The Europe market too is favorable for phenolic resins owing to factors such as well-established infrastructure, availability of skilled workforce, high level of economic stability, investment in R&D, however, the market can be influenced due to shift in base of industries from Europe to emerging economies like Asia. The Middle East & Africa market is not so consolidated due to poor socio-economic conditions and a lack of skilled workforce.

 

Competitive Landscape

The global market for phenolic resins is highly competitive and fragmented with a large number of players operating in the industry. Hitachi Chemical, BASF, DIC Corporation, Georgia Pacific Chemicals, Kolon Industries, Mitsui Chemicals, SI Group, Georgia Pacific Chemicals, Sumitomo Bakelite and others are the major players operating in the industry. The existing market participants are implementing various strategies such as collaboration, partnerships, product launches and mergers to gain substantial competitive edge over other players.

 

Industry Trends/Updates

Researchers have come up with a new application of phenolic resins for printing purposes of cash register receipts, tickets and labels. They would be used an alternative to bisphenol A (BPA) which has hazardous health effects.

Growing introduction of carbon nanofibres in phenolic resins for carbon-contained refractory- Carbon nanofibers, due to their superior mechanical and thermal properties are finding novel applications in various industries including phenolic resins industry.

Read more reports at: https://www.marketresearchfuture.com/categories/chemicals-market-report

Read more details at: https://www.marketresearchfuture.com/infographics

Read more details at: https://www.marketresearchfuture.com/videos

NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of market and industries. Cordially get in touch for more details.

Comments

Post a Comment

Popular posts from this blog

Fluorosurfactant Market Analysis, Growth, COVID-19 Overview, Demand and Industry Forecast 2023

Market Analysis   The global fluorosurfactant market is predicted to touch USD 806.09 million at a 9.8% CAGR between 2016- 2023, reveals the new Market Research Future (MRFR) report. Flurosurfactant or fluorinated surfactant is a type of coating additive which helps to improve wetting, levelling, and control foam. It also offers lower surface tension, especially in coating systems. Flurosurfactant is compatible with almost every polymer and stays active all through the curing and dyeing process. It is used in emulsion polymerizations to produce fluoropolymers. Cationic, amphoteric, anionic, non-ionic, and others are the different types of fluorosurfactants. Owing to its alluring features and key benefits, fluorosurfactants have a wide range of applications including electronics, oilfields, polishes, waxes, adhesives, polymers, paints and coatings, inks, sealers, fingerprint repellency, and stain repellence, among others.    Various factors are adding to the global fluorosurfact
Read more

Cold Insulation Market, Demand, Key Player profile, Size, Share, Trends, and Regional Outlook by 2030

Cold Insulation Market – Brief Insights Cold insulation forms an important part of industries that need better energy rates. Without these the manufacturing process would become quite tedious as a lot of energy would be lost. In the last few years, this process has established itself as pretty useful and proficient. And owing to this fact the global cold insulation market has gained momentum. In simple terms cold insulation can be explained as a procedure that is undertaken to avoid energy leakages in huge systems and also to enhance the energy efficiency. This technology forms an integral part of systems like HVAC and refrigerators. Furthermore, they have also proven to be proficient for industries like oil & gas and chemicals. On the whole, it can be concluded that the global cold insulation market is at its prime as of right now and it will continue to climb ladders of success in future as well. Market Scenario At present, the industrial segment is experiencing an all-ti
Read more

Global Carbon-Neutral Fuels Market Overview, Size and Forecast 2025

Carbon-Neutral Fuels Market Synopsis The global demand for carbon-neutral liquid fuels is driven by increasing demand in various end-use industries, particularly aviation, automotive, marine, and power generation to eliminate carbon emissions. Increasing regulations to reduce emissions generated by the aforementioned end-use industries due to its adverse impact on the surrounding environment is fueling the demand for carbon-neutral fuel cells. However, the increasing preference for electric vehicles and the high cost of carbon-neutral alternative fuels is affecting the growth of the carbon-neutral fuels market. Carbon-Neutral Fuels Market Regional Analysis Regionally, the global  carbon-neutral fuels market  has been segmented into Europe, North America, Asia-Pacific, Latin America, and the Middle East & Africa. The market in North America accounted for the largest share of the carbon-neutral fuels market growth in 2018 and is expected to grow at a significant rate duri
Read more