They have a widespread usage across various segments as electrical laminates , hardeners and photo resistors in structural laminates for the electronic circuit board and aerospace industries . Furthermore , considerable demand from applications such as oriented strand boards ( OSB ) and production of engineered laminated composite lumber ( LCL ) also contributed to the large demand for resol resins in the past few years . It is expected to continue the similar trend over the forecast period from 2014 to 2020 .
Application Insights
Phenolic resins provide services to numerous end-use industries such as automotive , aerospace and constructional applications in laminates , insulation , wood adhesives and molding compounds . Wood adhesives were the dominant application on account of increased use in plywood and particleboard adhesives owing to phenolic resins which form chemical bonds with the phenol-like lignin wood . These products are capable of retaining moisture and hence are preferred for exterior plywood applications .
Moulding compounds are expected witness high growth . This can be attributed to the ability of phenolic resins to provide fire safety and amplify vehicular efficiency . Rising demand from the automotive segment is anticipated to play a critical role in the phenolic resins growth over the forecast period . They are used in numerous components in automobiles including cooling system , air supply system brake , suspension , powertrain and fuel system .
Browse Full Research Report @ https :// www . millioninsights . com / industry-reports / phenolic-resins-market
New product developments in molding compounds by the use of carbon fiber or long glass fiber is expected to provide market opportunities in displacing ceramics , metals and filled high-performance thermoplastic resin systems in applications where fuel efficiency and weight reduction play a vital role such as aircraft and industries . Molding materials that contain long fibers and carbon fibers are characterized by newly introduced phenolic reinforced structures that exhibit high mechanical strength and high impact strength at high temperatures for additional displacement of ceramics and metals .
Fiber-reinforced composites with phenolic resins is anticipated to flourish owing to increase in new aircraft by Airbus ( 787 , A380 , and A350 ) and Boeing . These require cargo liners , aircraft interiors , light weight paneling , increased volume in honeycomb manufacture for aircraft and potential use of high-density phenolic foam as a replacement for balsa sandwich panels . Additionally , the development of carbon foam is anticipated to witness expansion into composite associated areas such as light weight paneling and tooling .
Regional Insights