Phenolic Resins Market Applications, Outlook, Dynamics and
Shares Forecast Till 2025
“Phenolic Resins Market Estimated to grow at a significant CAGR over the
future period as the scope and its applications are rising enormously across
the globe.”
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 segmentson 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 instabilityis
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.
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