Phenolic Resins Market to Reach US$13.36 Billion in 2019 | Page 3

Phenolic Resins Market
The report segments the global phenolic resins market into Resol resins , Novolac resins , and others based on the product type . Accounting for a market share exceeding 48 %, Resol resins dominated the global phenolic resins market in 2012 . Meanwhile , much of the demand generated for Novolac resins is registered by the markets for molded composites and laminates . On a regional perspective , the global phenolic resins market can be segmented into Europe , North America , Asia Pacific , and Rest of the World .
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Asia Pacific held the largest share of the global phenolic resins market in 2012 , followed by North America . The findings of the report reveal that North America and Asia Pacific collectively accounted for 65 % of the global demand registered from the market in 2012 . However , during the forecast period , the countries encompassed within the Rest of the World region are anticipated to register robust growth in terms of demand for phenolic resins . Rapid industrialization and greater application scope in the region will provide lucrative opportunities for phenolic resins manufacturers . The phenolic resins market is highly fragmented with a bevy of players vying for the largest share in the market . The market at present is dominated by regional players such as BASF SE , Georgia Pacific Chemicals , Mitsui Chemicals Inc . and Sumitomo Bakelite Co . Ltd .
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