Phenolic Resins Market Owing To Rise In Prerequisites Among
Various Sectors Forecast 2025
“Phenolic Resins Market size was valued at USD 9.30 billion in 2015 and is
expected to reach USD 16.0 billion by 2025, with a CAGR of 5.4%. The global
phenolic resins industry is anticipated to witness stable growth owing to
rising demand from transportation and construction sector.”
Industry Insights
The global Phenolic Resins Market size was valued at USD 9.30 billion in 2015 and is expected to reach USD 16.0
billion by 2025, with a CAGR of 5.4%. The global phenolic resins industry is anticipated to witness stable growth
owing to rising demand from transportation and construction sector. Phenolic resins find their applications in
numerous segments on account of their properties such as good heat resistance and flame retardancy, low
smoke and toxicity, high mechanical strength and easy blending with other polymers to attain high performance.
Product demand is expected to rise owing to of increasing use of fire retardant constituents in crucial aircraft
and automotive components. Crude oil is the primary raw material used in the manufacturing of phenolic resins
and hence price instability is expected to have a direct influence on demand for phenolic resins. In order to
ensure conformance to environmental standards regarding formaldehyde emissions, significant funding and
investments have to be made and this may slowdown the market growth. However, the positive side is that
there is an increasing adoption of nanotechnology in phenolic resins production that aims to improve their
functional and structural characteristics and expand their scope of application.
Product Insights
Novolac resins and resol resins are the two majorvarieties of phenolic resins. Novolac resins, are expected to
gain prominence in the forecast period owing to its ability to mould easily. Resol resins constituted for a major
chunk of the market share on account of growing demand from wood adhesion and laminates sector.
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