Phenolic Resin Market Set to Reach US$ 7.2 Billion by 2028, Reports Stratview Research
Stratview Research, a leading global market research firm, forecasts that the global Phenolic Resin Market will grow at an annual rate of 3.6%, reaching US$ 7.2 billion by 2028. The report provides a detailed outlook on regional and global markets, emerging trends, segment analysis, competitive landscape, and key market drivers.
The report serves as a comprehensive decision-making tool for key stakeholders such as CXOs, business strategists, and investors, offering:
• Strategic Clarity: Insights into market trends, growth opportunities, and emerging challenges to streamline business strategies.
• Competitive Intelligence: Analysis of top players, their market positioning, and innovative strategies driving their success.
• Future Readiness: A detailed outlook on evolving market dynamics, technological advancements, and industry disruptions.
Key Report Highlights:
• Market Size by 2028: US$ 7.2 billion
• Growth Rate (CAGR): 3.6% (2023-2028)
• Forecast Period: 2023-2028
• Trend Period: 2017-2021
• Base Year: 2022
• Segments Covered: 3
• Number of Tables & Graphs: 100+
Segment Insights: The report provides a thorough analysis of the Phenolic Resin Market segments, enabling stakeholders to understand key performance indicators and opportunities within various segments.
• By Application Type: The phenolic resin market is segmented into wood adhesives, molding compounds, laminates, refractories, insulation, and others. Wood adhesives dominated the market and are expected to remain the dominant application during the forecast period, owing to rising wood-based panel production, increasing demand for phenolic resin in wood adhesive applications, and increasing usage of wood panels in different applications.
• By Resin Type: The market is segmented into resole and novolac. Resole is expected to remain the dominant as well as the fastest-growing resin type in the market during the forecast period owing to its excellent combination of properties, such as high strength and durability, water resistance, heat resistance, resistance to a wide range of chemicals, and ease of use.
Regional Outlook:
“Asia-Pacific is expected to remain the largest as well as the fastest-growing market for phenolic resins during the forecast period.”
• Growing investment in various industries, including automotive, construction, and electrical & electronics, and rising disposable income are some key factors that drive the region’s market.
• China is the leading producer and consumer of phenolic resin. India and Japan are the other key countries in the region.
• Europe and North America are the other two major phenolic resin markets and will likely exhibit healthy growth rates over the next five years.
Market Drivers:
The growth of the phenolic resin market is driven by a combination of macroeconomic factors, evolving industry needs, and technological innovation. Companies are recognizing the need to adapt to shifting market dynamics and are increasingly investing in research, product development, and strategic alliances to maintain their market edge.
Some of the key factors producing measurable change in the market dynamics are as follows:
The global market for phenolic resin is expected to grow due to several factors. A few are–
• The increasing growth rate of automotive, aerospace, construction, electronics, and packaging industries, growing demand for phenolic resins for different applications, and key properties of phenolic resin, such as high strength, durability, water, chemical, heat, and fire resistance, and dimensional stability are likely to fuel the growth of the market during the forecast period.
Top Market Players: The report profiles prominent companies operating in the Phenolic resin market, providing detailed insights into their market positioning, key strategies, and competitive advantages. Listed below, are some of the key players.
• Bakelite Synthetics
• Dynea SA
• Jinan Shengquan Group Share-Holding Co., Ltd.
• Prefere Resins Holding GmbH
• Shandong Yushiju Chemical Co., Ltd.
• Sumitomo Bakelite Co., Ltd.
The comprehensive report also answers the following critical questions:
• What is the projected market size and growth potential?
• Which regions and segments are most lucrative for investment?
• Who are the major players, and what are their strategies?
• What challenges and opportunities exist in the market?
• What key trends are shaping the market’s future?
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About Stratview Research: Stratview Research is a global market research firm specializing in aerospace, defense, chemicals, energy, and other critical industries. Our reports provide actionable insights, enabling businesses to make confident decisions in competitive markets. Offering highly tailored research solutions such as market assessment, opportunity screening, voice of customer analysis, and entry strategies, we help companies achieve their global and regional growth objectives.
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