Chemicals and Materials Phenolic Resin Market New | Page 2

transportation application. The demand for molding is estimated to witness the highest
CAGR in the Asia-Pacific region due to the increasing demand for phenolic molding
compounds for their strengthening efficiency and providing safety from fire in automobiles.
Asia-Pacific to be the fastest growing market for phenolic resin during the forecast
period
The Asia-Pacific region phenolic resin market is expected to witness the highest CAGR from
2016 to 2021. The growing population in the Asia-Pacific region, coupled with the rising
disposable incomes is driving the market for phenolic resin. In addition, increased demand
for phenolic resin in key countries such as China and India, are contributing to the growth
of the phenolic resin market in the region.
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Some of the key players in the global phenolic resin market are Hexion Inc. (U.S.), Hitachi
Chemicals Co., Ltd. (Japan), Sumitomo Bakelite Co., Ltd. (Japan), SI Group, Inc. (U.S.), DIC
Corporation (Japan), BASF SE (Germany), Kolon Industries, Inc. (South Korea), Shandong
Laiwu Runda New Material Co., Ltd. (China), Dujodwala Paper Chemicals Ltd. (India), and
Changshu South-East Plastics Co., Ltd. (China), among others.
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