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Phenolic Resins Market Overview:

Market Research Future (MRFR) in its latest study projects that the global phenolic market will exhibit a steady growth over the next nine years. Phenolic resins are viewed as a highly polymer group. They are one of the oldest, yet prominent polymer based industrial material. R&D focus towards the segment remains strong on the back of increasing application opportunities. Today, phenolic resins are a multi-billion-dollar industry, which continues to move forward on a high-growth trajectory.

The global supply of phenolic resins is expected to grow at a sound space over the next couple of years. Rapid industrialization and urbanization in emerging economies is adding up to the demand. Phenolics resins fins a myriad of industrial application. This is primarily owing to the highly desirable characteristics of phenolic resins. They offer high mechanical strength, heat resistance, low smoke and low toxicity. Some of the common application verticals of phenolic resin included lamination, construction, wood adhesive, automotive and molding compound among others.

Phenolic resins such as paper phenolics are used in electrical component manufacturing. Other industrially manufactured products that use phenolic resins as raw material include phenolic micro-balloons, high-speed bearing, binding agent etc. Over the years, the application base of phenolic resins has expanded tremendously, which is driving its global deman. Meanwhile, suppliers continue to seek new sources to meet the requirement figure. The automotive and aircraft flame retardant manufacturing industry has emerged as a major consumer of phenolic resins. The aforementioned factors are expected to support the growth of the global phenolic resins market in the forthcoming years.

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Global Phenolic Resins Market: Segmental Analysis

MRFR’s study also includes a through segmental analysis of the global phenolic market based on type and application. By type, the market has been segmented into resoles and novolacs. By application, the market has been segmented into construction, automobile, laminates, wood adhesives, molding and others.

Global Phenolic Resins Market: Regional Analysis

The phenolic resins market has been covered across Asia Pacific, Europe, North America, Latin America and the Middle East & Africa (MEA). Countries such as India, China, Mexico and Brazil are undergoing robust industrialization, making these countries highly attractive market for various types of industrial materials including phenolic resins. Phenolic market in APAC is expected to witness a healthy growth in the near future. In North America and Europe, the mature nature of the market is likely to govern the business environment. With brexite nearing, certain socio-political uncertainties are likely to have a momentary effect on the market in Europe. In addition, protectionism stance from advance economies and the ongoing trade war between the U.S. and China may influence the market equation.

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Global Phenolic Resins Market: Competitive Landscape

Some of the top-notch companies operating in the global phenolic resins market include, Georgia Pacific Chemicals, Kolon Industries, Mitsui Chemicals, SI Group, Sumitomo Bakelite, Hitachi Chemical, DIC Corporation, and BASF.

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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