Phenolic Panel Market is estimated to be 2.4 Billion by 2025 with a CAGR of 6.5% during the forecasted period.

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Published Date: May 2024

The market is rising owing to growth in the demand for phenolic panels in the transportation, construction, and aerospace & defense industries. Phenolic panel market accounted for US$ 1.7 billion in 2020 and is estimated to be 2.4 billion by 2025 and is anticipated to register a CAGR of 8.8%.

The report. "Phenolic Panel Market, By Type (Sandwich and Plain), By Application (Interior, Exterior, Furniture, Air Conditioning Duct Panel, and Others), By End-user (Construction, Marine, Transportation, Aerospace & Defense, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030”.

Key Highlights:

In April 2017, Kingspan Group added two new products to its Kooltherm K100 range; the K107 Pitched Roof Board and the K112 Framing Board. These insulation boards sends low U-values with a least thickness. This would build Kingspan Group’s position as a dominating player in the phenolic panel market.

In June 2019, Broadview Holding acquired Cincinnati-based Formica Group from Fletcher Building Ltd. This acquisition has helped Broadview Holding to increase its presence in Europe, North America, and Asia.

Analyst View:

Growth in pollution levels

Increasing air pollution is one of the major risk factors for death and is accounted for 5 million deaths annually. It causes infections and diseases such as stroke, heart disease, lung cancer, lower respiratory infections, diabetes and chronic obstructive pulmonary disease (COPD). In the recent years, the air pollution level has increased at a startling rate. This is mainly attributed to rising demand for air filtering products for personal and occupational purposes and is projected to boost the growth of the Phenolic Panel market.

Growth in industrialization rate in emerging economies

Along with the increasing rate of industrialization in emerging economies such as China and India, there is a rise in the level of air pollution, owing to which the demand for Phenolic Panels in the industrial sector is growing faster. Additionally, the government firms are undertaking various policies to promote the awareness regarding Phenolic Panels among individuals in the industrial sectors in order to protect them from diseases caused by air pollution.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Phenolic Panel Market”, By Type (Sandwich and Plain), By Application (Interior, Exterior, Furniture, Air Conditioning Duct Panel, and Others), By End-user (Construction, Marine, Transportation, Aerospace & Defense, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030

Key Market Insights from the report:

Phenolic panel market accounted for US$ 1.7 billion in 2020 and is estimated to be 2.4 billion by 2025 and is anticipated to register a CAGR of 8.8%. The market report has been segmented on the basis of type, application, end-user, and region.

By type, sandwich type phenolic panel accounts the highest share of the market due to high demand from transportation, construction, marine, and aerospace & defense industries. Rising implementation of aluminum-based phenolic panels across various applications, including furniture, floor, air conditioning duct panel, partitions, etc. are accountable for the high growth of the sandwich segment.
By application, the interior is the major application of phenolic panel. Phenolic panels are utilized widely for railway interior, aircraft interior, and decorative interior in construction, partitions, and cubicles in several end-use industries. Superior chemical resistance and fire-resistance provided by the phenolic panel is accountable for the high consumption in an interior application.
By end-user, the construction industry lead the phenolic panel market. The phenolic panel has a huge demand for interior applications in the construction industry due to superior fire resistance features of the phenolic panel, which helps in evading fire-related accidents.
By region, Europe is the main consumer of phenolic panels due to increasing demand from the Germany, UK, and other European countries. The UK is the dominating market in the region. Several applications of phenolic panels in the European market include building interior, exterior cladding, aircraft interior, air conditioning duct, furniture, and panels, among others.

Competitive Landscape:

The prominent player operating in the phenolic panel market includes Wilsonart LLC (US), Broadview Holding B.V. (Netherlands), Bobrick Washroom Equipment, Inc. (US), Asahi Kasei Corporation (Japan), Fundermax GmbH (Austria), Fiberesin Industries Inc. (US), Kingspan Group (Ireland), general Partitions Mfg. Ltd. (US), Werzalit of America, Inc. (US).

The market provides detailed information regarding industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory framework across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included into the report.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces Analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period

Key Topics Covered