Lucintel Forecasts Phenolic Resin Market To Reach $24 Billion By 2030

By Author: Lucintel LLC
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According to the recent study the phenolic resin market is projected to reach an estimated $24 billion by 2030 from $18 billion in 2023 at a CAGR of 4% from 2023 to 2030. Growth in this market is primarily driven by increasing use of heat resistance, corrosion and chemical resistance materials in construction and transportation industry and lower cost of phenolic resin compared to its competitors.
Browse 141 figures/charts and 89 tables in this 208-page report to understand trends, opportunities and forecast in phenolic resin market by application (wood adhesive, molding compounds, laminates, insulation, coating, paper impregnation, and others), type (resol phenolic resin and novolac phenolic resin), end use (construction, transportation, electrical and electronics, furniture, and others) and region (North America, Europe, Asia Pacific and ROW).
Lucintel forecasts that the construction segment will remain the largest end use segment over the forecast period due to demand for heat resistant material and low cost material is driving phenolic resin market. Trabsportation is expected to witness the highest growth over ...
... the forecast period.
Molding compounds segment will remain the largest segment over the forecast period due to high heat resistance, mechanical strength and electrical properties and is used in automotive, aerospace, electronics and industrial market.
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Asia Pacific is expected to remain the largest region and witness the highest growth over the forecast period due to growth in end use industries such as residential and commercial activities, increasing automotive production, and growing electrical and electronics demand.
Hexion Inc., Georgia Pacific Chemicals, SI Group, SQ Group, Sumitomo Bakelite Co. Ltd., DIC Corporation, Mitsui Chemicals, Tembec, Ashland, and Aica Kogyo are the major suppliers in the phenolic resin market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com
About Lucintel
At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1 972.636.5056
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