Phenolic Resin Market to offer a healthy CAGR of 5.1% during 2019-24
February 19, 2020
Phenolic Resin Market Overview:
Phenolic resins market is likely to witness a healthy CAGR of 5.1% during the forecast period. The major factors bolstering the demand for phenolic resins in various end-markets are noted below.
- Growing building & construction and electrical & electronics industry
- Expected increasing automobile production, especially in Asia-Pacific and Eastern Europe
- Advancements in phenolic resin properties
- Increasing usage of phenolic resins in new applications
Report Overview:
This new report from Stratview Research analyses the Phenolic Resin Market over the trend period from 2013 to 2018 and forecast period from 2019 to 2024. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
Get a free sample of the report here:
https://www.stratviewresearch.com/Request-Sample/441/Phenolic-Resin-Market.html
Phenolic Resin Market Segment Insights:
Resin Type: resol resin, novolac resin and others
Based on the resin type, the market is segmented as resol resin, novolac resin, and others. Resol resin currently dominates the phenolic resin market owing to its widespread usage in the wood adhesive application. Further, it is also expected to witness the highest growth during the forecast period owing to its excellent properties including superior heat resistance, high flexibility, mechanical strength, moldability, and excellent friction properties.
Click below to run through the detailed ToC of the report:
https://www.stratviewresearch.com/toc/441/Phenolic-Resin-Market.html
Application Type: wood adhesives, molding compound and others
Based on the application type, the market is segmented as wood adhesives, molding compound, laminates, insulation, coatings, paper impregnation, foundry, and others. Wood adhesives dominated the market and are expected to remain dominant during the forecast period, owing to rapidly expanding building & construction industry, especially in the developing economies. Molding compound is likely to witness the highest growth during the same period, driven by increasing use of epoxy molding compounds in the transportation and electronics industries.
End-User Type: automotive, building & construction, furniture and others
Based on the end-user type, the market is categorized as automotive, building & construction, furniture, electrical & electronics, industrial, and others. The automotive industry currently dominates the market and is expected to maintain its dominance over the next five years as well, owing to expected increase in production of vehicles along with an increasing number of phenolic resin applications, such brake linings, clutch facing, and brake pads.
A highly/moderately/fragment consolidated Market
Some of the major phenolic resin suppliers are Hexion Inc. Hitachi Chemical Co., Ltd., Sumitomo Bakelite Co., Ltd., BASF SE, SI Group, Inc., DIC Corporation, Kolon Industries, Inc., Shandong Laiwu Runda New Material Co., Ltd., Dujodwala Paper Chemicals Ltd., Changshu South-East Plastic Co., Ltd. and Geogria-Pacific Chemicals LLC.
Region: Asia-Pacific is the largest market for phenolic resins
Asia-Pacific is the largest market for phenolic resins, owing to rapid economic development in the region, which has led to the growth of key end-use industries. Rapidly growing automotive production with a shift of automobile plants in China and India, continuous shift of manufacturing base of the electrical & electronics industry, and growing building & construction sector are the major growth drivers of the Asia-Pacific’s market. North America and Europe also offer sizeable growth opportunities, owing to the recovery of the building & construction industry in both of the regions.
Click here for other high value market reports from Stratview Research in the Advanced Material Industry:
https://www.stratviewresearch.com/market-reports/Advanced-Materials.html
About Stratview Research
Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.
We have a strong team of industry veterans and analysts with an extensive experience in executing custom research projects for mid-sized to Fortune 500 companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, Go to Market Strategy, and Voice of Customer studies.
Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making.
For enquiries,
Contact:
Stratview Research
E-mail: sales@stratviewresearch.com
Direct: +1-313-307-4176