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Phenolic resins or phenol formaldehyde resins are the synthetic polymers which are formed from the reaction of formaldehyde with phenol or substituted phenol. The global phenolic resin market is projected to rise at a CAGR of approximately 6% during 2016-2023. The major advantage of phenolic resins is its fire resistance. Phenolic systems have excellent flame resistance and emits less toxic fumes when it is burnt. Moreover, phenolic resins also have good static-dissipative and ablative properties. However, phenol resins have few disadvantages such as low mechanical properties. Furthermore, there has been increased adoption of phenol resins due to its cost effectiveness. The cost of phenol resins is half of the cost of vinyl ester. Also their excellent fire, toxicity and smoke properties has led to its increased adoption in the transportation sector. Phenolic resins are also used for making weather proof exterior Plywood. The phenolic resins are made by combining one or two layers of a base material in accordance with high temperature and pressure conditions. It is also used as a binder in loudspeaker driver suspension parts which are made of cloth. The base material choice depends on the factors or features of finished product. The glass phenolics have their usage in the high speed bearing in automotive industry and the synthetic resin bonded paper are made majorly from the phenolin resin and the paper which is used to form countertops. The paper phenolics are mainly used in the manufacturing of electrical components which includes the circuit boards and in household laminates.
The key factors driving the growth of global phenolic resin market is the advanced properties of phenolic resin. Phenolic resins are highly versatile which has led to broad applications in the aircraft, aerospace, automotive, electrical and electronics industries. Phenolic resins with diverse structures and properties can be obtained with different phenols, aldehydes, and catalysts. Moreover, the thermal and mechanical properties of phenolic resin-layered silicate advanced nanocomposites are also useful in various applications, such as automobile, aerospace etc. Therefore the advanced properties of phenolic resin is contributing significantly to the growth of global phenolic resins market.
Source: OBRC Analysis.
The report on global phenolic resin market includes segments on the basis of type, applications and end users.
Types of phenolic resin include:
The applications of phenolic resin include:
The end users of phenolic resin include:
The report scope is widely categorized on the basis of its types which include Resol Resin, Novolac Resin, Bio-Phenolic Resin and others.
The global phenolic resin market report has been geographically segmented in:
Geographically, Asia Pacific is the largest market for global phenolic resin in terms of market revenue share. The key factors driving the market growth in Asia Pacific is the improved living standards and rapid industrialization in Asia Pacific. Moreover, expansion of end-user industries, such as automotive, construction etc. and the rising awareness regarding the low cost benefits of phenol resins in various applications, such as adhesives, lamination, insulation etc. has led to the increased adoption of phenol resins in the Asia Pacific region. However, Latin America is expected to emerge as the fastest growing market during forecast period 2016-2023. This is due to the rapid economic development, abundance of low cost labour along with surging regional & export demand in the Latin America region.
Global phenolic resin market report covers segmentation analysis of type, applications and end users. Report further covers segments of types of phenolic resins which include Resol Resin, Novolac Resin, Bio-Phenolic Resin and others. Resol resin is the leading type segment due to its increased adoption in wood adhesives application. Moreover, it offers many advantages, such as excellent friction properties, superior heat resistance, mechanical strength, high flexibility and moldability. Moreover, Novolac resins are also in large demand due to their corrosion resistance and excellent fire properties and also has high carbon residue. Thus they are also being widely adopted in various industrial sectors. The applications of phenolic resins include wood adhesives, foundry, moulding, laminates, insulation etc. Wood adhesives are the leading application segment owing to the rapid growth of construction industry which has led to the increased adoption. However, moulding is expected to be the fastest growing application segment during forecast period. The end users of phenolic resins include automotive, building & construction, furniture, electrical & electronics etc. Automotive is the largest and the fastest growing end user segment. This is due to the increased adoption of phenolic resins in various automotive applications, such as clutch facing, brake linings and brake pads.
The major market players of the global phenolic resin market are:
These companies are using various strategies, such as merger & acquisition, collaboration, partnership and product launch. Whereas, product and service launch is the key strategy adopted by the companies in the global phenolic resin market.
For Example; In June 2017, Hexion Inc. had announced the development of its phenolic resin named volatile organic compound (VOC) Cellobond J 6021X01 resins for prepregs. It consists of free formaldehyde (ULEF) with content less than 0.1%.
The report covers detailed analysis of companies which comprises overview, SCOT analysis, product portfolio, strategic initiative, strategic analysis, competitive landscape and market share analysis in global phenolic resin market.
Key reason to buy the report:
How we are different from others:
At Occam’s we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share and market segmentations. Our report on global phenolic resin market offers detailed analysis of strategic models, such as investment vs. adoption model, see saw analysis and others strategic models. Also, the report contains the detailed analysis of application, adoption scenario and decision support for each segment. The report discusses competitive landscape of the phenolic resin market with giving extensive SCOT analysis of key companies.
Key findings of the global phenolic resin market
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