Product Insights
Novolac resins and resol resins are the two major varieties of phenolic resins. Novolac resins, are expected to
gain prominence in the forecast period owing to its ability to mould easily. 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.
Resol resins constituted for a major chunk of the market share on account of growing demand from wood
adhesion and laminates sector. 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 tonumerous end-use industries such as automotive, aerospace and
constructional applications in laminates, insulation, wood adhesives and moulding 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.
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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, and
powertrain and fuel system.
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.