Phenolic Resins Market - Forecast(2021 - 2026)

This report gives an unequivocal investigation on the Phenolic Resins industry worldwide. It clarifies what are Phenolic Resins showcasing techniques of leading organizations and their costs. It enables you to ascertain diverse Phenolic Resins market forecast and also challenges for the coming years.

What are Phenolic Resins?
Phenolic resins are a kind of synthetic thermosetting resins. They were originally called as Bakelite. These are divided into Novolacs and Resoles. These are lightweight materials possessing excellent corrosiveness and are resistant to temperatures up to 300-350 °C. Some of the properties of phenolic resins include low humidity absorption, high dielectric strength, low toxicity, low smoke, and flame retardance. 


Applications of Phenolic Resins:

Phenolic resins have a significant number of applications in many end-user industries. Phenolic resins are mainly used in wood adhesives, insulations, binders, molding compounds, laminates, phenolic foams and other applications. Snooker balls and balls for many table based games are made from phenol formaldehyde resin. The binding agent in the brake pads, brake shoes and clutch discs are made up of phenolic resin. 

Trends in Phenolic Resins Market:

  • The global Phenolic Resin Market is anticipated to reach $15 billion by 2022. The main end-user industries in the Phenolic Resins Market are Construction, Automotive, Furniture, and Electrical & Electronics industry. Phenolic resins find have huge applications in different wood products, which is mainly driven by the rise in growth of construction Industry. The global construction industry is expected to reach over $12 trillion in 2020 which will represent about 15% of the global GDP.
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As the automotive industry is also growing significantly. The Automotive market is about to cross the 100 million units’ threshold by 2019. The global sales in new vehicles is expected to exceed 98 million units in 2018. The increase in demand for many molded products in the automotive and aerospace industry will also contribute to the growth of global Phenolic Resins Market in the forecast period. 

  • A new research was done to prepare a novel Raney nickel catalyst for fix-bed reactions where the phenolic resin was used as a carbon precursor to prepare this catalyst. This resulted in the increase in stiffness and more efficient catalytic property in the catalyst than other preparation methods. This research will boost the usage of phenolic resin in catalyst manufacturing and in turn, boosts the Phenolic Resin Market globally. 

  • October 15, 2018: SK Capital Partners, an investment firm has completed the acquisition of SI Group, a leading manufacturer of performance additives and intermediates globally.  

  • February 6, 2018: Sun Chemical and its parent company, DIC Corporation, have completed the acquisition of Luminescence Holdings Ltd., a manufacturer of currency, tax stamps, passports and secure documents for the security market.


Key Players in the Phenolic Resins market:

The companies referred to in the market research report includes industry key players in the market are Fenolit D.D., Shandong Laiwu Runda New Material Co. Ltd., DIC Corporation, Georgia-Pacific Chemicals LLC, BASF SE, Hitachi Chemical Co. Ltd., Kolon Industries Inc., SI Group Inc., Hexion Inc., Sprea Misr, Saluc SA, Aica Kogyo Co. Ltd., Red Avenue Group Co. Ltd., Mitsui Chemicals Inc., Sumitomo Bakelite Co. Ltd., Mansoura for Resins & Chemical Industries Co. and Lerg SA among others.

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