Global Phenolic Resin Market Trends, Segmentation, Regional Outlook, Future Plans and Forecast to 2027

[akash Arjun pingale]

Global Phenolic Resin Market: is expected to reach US$ 20.28 Bn. in 2027, with a CAGR of 5.5% for the period 2021-2027, because of the high demand for phenolic from the various end-use industries.

Global Phenolic Resin Market Overview:  High demand for phenolic from the various end-use industries such as automotive industry and thus substantial growth in the automotive industry is primarily driving the growth of the market. Because of its heat resistance, lightweight, fire retardancy, and impact resistance property, it is commonly used in the single-vehicle. Increasing production of automobiles across the emerging region is a main factor boosting the market growth. Hence, the growing demand for phenolic resins from the automotive industry is enhancing the market growth.

This MMR report covers the following topics: Global Phenolic Resin Market overview, market dynamics, market characteristics, regional industry insights, country-level market statistics, important market trends, current market trends, and more. The MMR report gives information on recent product launches by corporations for the most up-to-date advancements. The geographic insights section of the study contains information on the regions that are predicted to have the most market share over the forecast period.

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Global Phenolic Resin Market Scope:

During the forecast period of 20212027, the Global Phenolic Resin market is expected to grow at the fastest rate. Import and export consumption, supply and demand, cost, price, share, sales volume, revenue, and gross profit margins are all covered in the Maximize Market Research (MMR) report. This MMR data analysis looks at each producer’s manufacturing units, capacity, production, exfactory pricing, market prices, and market shares.

Global Phenolic Resin Market Segmentation: Based on Application: The phenolic resin market is sub-segmented into Wood adhesives, Foundry, Molding, Laminates, Insulation, Paper Impregnation, Coatings, and Others. Among these, Wood adhesives application is dominates the market and is expected to hold the continuous growth during the forecast period (2021-2027). This growth is mainly because of wood adhesive having a special properties such as water resistance, water diluting ability, excellent moisture resistance, and weather resistance. The Asia Pacific is the major market for the Phenolic Resin. Also, the molding components are used widely in several end-user industries application such as household applications, automotive commutators, and electrical & electronics. Thanks to the excellent dimensional stability, the compounds find applications in manufacturing electrical equipment and kitchen-ware, which is further increase the demand for molding resins in the upcoming years.

Global Phenolic Resin Market Key Players: 

•Hexion Inc.
• Hitachi Chemical Co. Ltd.
• Sumitomo Bakelite Co. Ltd.
• BASF SE
• SI Group Inc.
• DIC Corporation Inc.
• Kolon Industries Inc.
• Shandong Laiwu new material Co. Ltd.
• Changshu South-East Plastic Co., Ltd.
• Mitsui Chemicals Inc.
• Georgia Pacific Chemicals LLC
• Prefere Resins
• Plastics Engineering Company
• RPM International Inc.
• KCC Corporation
• Altex Coatings Inc.
• Nippon Paint Marine Coatings Co., Ltd.
• Others

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Global Phenolic Resin Market Regional Analysis:

The five regions diagnosed with MMR include North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. This research looks at key areas of the market, as well as significant segments and sub segments. The MMR survey explores the cutting-edge country of neighbouring development based on market size, percentage, and volume. This record includes quantities, areas, and sales, as well as marketplace chain systems and trends.

COVID-19 Impact Analysis on Global Phenolic Resin Market:

Regulations under COVID-19 have dramatically altered the world between 2020 and 2021, as well as the sector’s and workers’ demands. COVID-19 has thrown our social and living standards into disorder, necessitating quick innovation and industrial assistance. COVID-19 has posed a number of challenges for migrant labourers in India. Millions of migrant workers lost their employment, faced food shortages, and worried the future when enterprises and businesses were halted owing to the country’s embargo.

The overall goal of this MMR report is to have a better understanding of the current economy, COVID-19, and how it impacts business. MMR monitors the COVID-19 outbreak throughout all industries and verticals, as well as disciplines. Similar information can be found in maximise market research reports (MMR), which may be used to figure out how the COVID-19 has affected industry losses and growth.

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