Asia Pacific emerged as the market leader in phenolic resins market on account of widespread use in
construction applications and growing consumption of moulding compounds in India and China. China is a large
phenolic resins marketand a significant consumer at a global level. Within North America, U.S. is one of the
leading consumers in wood adhesive applications of phenolic resins. In addition, demand for thermal insulation
productsis expected to be on a rise on account of the legislation implemented in various countries and regional
associations for constructing energy efficient buildings. Further, growing use of composites in marine, mass
transit and aerospace is anticipated to boost the phenolic resins market.
Competitive Insights
Key market players have expanded their manufacturing facilities to sufficethe growing demand. As an instance,
in 2013, Ludwigshafen Verbund site had a new plant set up as a part of BASF modernization and expansion of
production facility. Other majorparticipants in the market include Hitachi Chemical Co. Ltd., Georgia Pacific
Chemicals LLC, Kolon Industries Inc., SI Group, Inc., Prefere Resins, DIC Corporation, Momentive Specialty
Chemicals Inc., Sumitomo Bakelite Co. Ltd., Dujodwala Paper Chemicals Ltd., and Mitsui Chemicals Inc.
Market Segment:
Phenolic Resins Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
• Novolac
• Resol
• Others
Phenolic Resins Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
• Wood Adhesives
• Molding Compounds
• Insulation
• Laminates
• Paper Impregnation
• Coatings
• Others
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