The “Phenolic Resins Market” 2023-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period. The Phenolic Resins Market Report covers potential improvement drivers as properly as the modern-day kingdom of market share, penetration of a number of kinds, technologies, applications, and areas thru 2031.
The global phenolic resin market size is expected to reach USD 18.1 billion by 2026 growing at a CAGR of 5.4% during the forecast period according to a new study published by Report Ocean.
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The report “Phenolic Resin Market Share, Size, Trends, Industry Analysis Report By Product (Novolac, Resols), By Application (Wood Adhesives, Molding, Insulation, Laminates, Paper Impregnation, Coatings, Refractory Materials, Friction Material, Rubber & Tire, Electronics, and Abrasives); By End-Use (Building & Construction, Automotive, Electrical & Electronics, Furniture); By Regions, Segments & Forecast, 2020 – 2026” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The market is projected to witness a significant growth over the forecast period. Phenolic resins exhibit favorable properties such as heat & chemical resistance, moisture resistance, superior mechanical strength among others. In addition, ability to customize these products into different grades has resulted in the further expansion of application portfolio of phenolic resins.
Favorable versatility and diversity of phenolic resins also makes them suitable for innovative product designs with high aesthetic appeal, such as in architecture, aerospace structural components and others. Furthermore, product and application innovation in impregnated materials is likely to present lucrative opportunities for growth in this market over the forecast period.
Phenolic resins for molding compounds are anticipated to emerge as the fastest growing market segment over the forecast period. Phenolic resins in molding compounds lend high heat stability & lower the curing times required. Expansion of the aerospace and retail transportation sector in countries such as Mexico, India, Indonesia, and Thailand are encouraging the demand for large parts with higher mechanical strength, which in turn is driving phenolic resins consumption.
The R&D efforts in Europe by market participants are also expected to impact phenolic resins production and processing technologies in other regional markets of the globe. Recent innovations have led to the development of unique prepreg resins that completely eliminate the need for refrigerated shipping and storage, enable increased service temperatures and improve safety, while lowering residual stress as compared to conventional phenolic resins raw materials. This may lead to greater substitution of phenolic resins across the globe over the near future.
Market participants are concentrating more on providing customized products to their clients. Companies strive to provide a one stop solution to all the client needs. To achieve this scenario, companies are considerably investing in R&D to develop novel products as product differentiation and ability to modify existing products are critical success factors in this market.
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Some of the major players in the market participants include Owens Corning, Arclin Inc., Ashland Inc., DIC Corporation, Hexcel Corp., Momentive Specialty Chemicals, Sumitomo Bakelite Co. Ltd, Olympic Panel Products LLC, BASF SE, SI Group Inc, Hexion, Asahi Kasei, GUN EI Chemical Industry, Kangnam Chemical Co. Ltd., Changchun group, DYNEA, Zhejiang Hangmo, Yushiju Chemical, Hitachi Chemical Co. Ltd., and Red Avenue New Materials.
Report Oceanhas segmented the Phenolic Resins market report on the basis of product, application, end-use, and region
Phenolic Resins Product Outlook
Novolac
Resol
Liquid
Solid
Others
Phenolic Resins Application Outlook
Wood Adhesives
Molding
Insulation
Laminates
Paper Impregnation
Coatings
Refractory Materials
Friction Material
Rubber & Tire
Electronics
Abrasives
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Phenolic Resins End-Use Outlook
Building & Construction
Automotive
Electrical & Electronics
Furniture
Others
Phenolic Resins Regional Outlook
North America
U.S.
Canada
Europe
France
Germany
UK
Italy
Spain
Russia
Turkey
Asia Pacific
Japan
China
India
Southeast Asia
South Korea
Latin America
Mexico
Brazil
Middle East & Africa
Saudi Arabia
Key questions answered in the Shape Memory Alloy report are:
- How does a global company acquire markets?
- What are its core strategies and policies?
- What factors will influence the Shape Memory Alloy market over the forecast period?
- What are the factors driving and restraining the market for Shape Memory Alloy?
- What are the leading competitors in the global market?
- Which region is growing at a higher pace in the global market?
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