Phenolic Resins Market Overview
Phenolic Resin Market size accounted for US$ 18.2 billion in 2024 and is estimated to be US$ 45.5 Billion by 2034 and is anticipated to register a CAGR 10.60%.
Phenolic resin is called as phenolic formaldehyde resin, phenolic resin is a synthetic resin obtain from the polymerization of a phenol (C6H5OH) and a formaldehyde (CH2C=O). Phenolic resin classified in to two types phenolic novolac resins and phenolic resole resins and phenolic novolac resins are further modified with a cross-linker to harden them. Both types are known for high chemical and water stability and temperature stability above 300°C (572°F), some phenolic can withstand temperatures that are as high as 550°F. Phenolic resins can be accurately viewed as the first polymeric products that were commercially produced from simple compounds, phenolic resins are widely used in numerous industrial products as well as in the manufacture of circuit boards. Phenolic resins is also used in manufacture products such as billiard balls, chemical resistant countertops, circuit boards and other panels. In other cases, phenolic resins are useful for lamination and as a bonding agent for parts such as brake pads. The phenolic resins market is growing attractively due to increased demand from various manufacturers due to enhanced properties such as high moldability, high heat resistance, low smoke toxicity, mechanical strength and blending ability with polymers. Phenolic Resin Market size accounted for US$ 18.2 billion in 2024 and is estimated to be US$ 45.5 Billion by 2034 and is anticipated to register a CAGR of 10.60%.Phenolic resin is called as phenolic formaldehyde resin, phenolic resin is a synthetic resin obtain from the polymerization of a phenol (C6H5OH) and a formaldehyde (CH2C=O). Phenolic resin classified in to two types phenolic novolac resins and phenolic resole resins and phenolic novolac resins are further modified with a cross-linker to harden them. Both types are known for high chemical and water stability and temperature stability above 300°C (572°F), some phenolic can withstand temperatures that are as high as 550°F. Phenolic resins can be accurately viewed as the first polymeric products that were commercially produced from simple compounds, phenolic resins are widely used in numerous industrial products as well as in the manufacture of circuit boards. Phenolic resins is also used in manufacture products such as billiard balls, chemical resistant countertops, circuit boards and other panels. In other cases, phenolic resins are useful for lamination and as a bonding agent for parts such as brake pads. The phenolic resins market is growing attractively due to increased demand from various manufacturers due to enhanced properties such as high moldability, high heat resistance, low smoke toxicity, mechanical strength and blending ability with polymers.
Phenolic Resins Market Dynamics
Increasing demand in construction and transportation industries
Phenolic Resins Phenolic resins have almost all the utility of epoxy resins, it is normally less expensive. Phenolic resins have found widespread use in various fields, including 3D printers, underground drainage, underwater pipelines, semiconductors, ballistics, aircraft and railways, as well as mass transportation systems. Growing awareness regarding the applications is expected to drive the demand for the product over the forecast period. The growth of phenolic resin market is due to increasing demand from construction and transportation industries and increased demand for fire retardant materials for automobiles and aircrafts. While phenol is the basic raw material used to produce phenolic resins, phenols themselves are made from chemical building blocks that include benzene, toluene, and other chemicals. Prices of these chemicals ultimately depend on crude oil supply and price trends worldwide. Volatility in crude oil prices will restrain the growth of the phenolic resins market in the coming years, as crude oil is the major raw material in the production of these resins. Additionally, environmental regulations related to formaldehyde emissions are expected to negatively impact the market growth.
Technological advancement
In the field of technology, advances have paved the way for innovative uses of these resins, such as the fabrication of heat-shields using Phenolic Impregnated Carbon Ablators for the SpaceX Dragon capsule. In addition, many major players are seeking to increase their presence in the value chain, either by integrating further into the supply chain to produce the final product, or by fundamentally going backward and producing the raw materials themselves. In addition, increasing consumer awareness towards new and existing products has forced new market entrants to use advanced process technologies to develop improved products.
Phenolic Resins Market Segmentation
Source: Prophecy Market Insights
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
The Global Phenolic Resins Market is segmented based on type, application, end user industry and region.
On the basis of type, the Global Phenolic Resins Market is segmented into On the basis of application Novolac and Resol. On the basis of Application, the Global Phenolic Resins Market is segmented into Molding, Wood Adhesives, Insulation, Laminates, Paper Impregnation, and Coatings. On the basis of End Use Industry, the Global Phenolic Resins Market is segmented into Automotive and Transportation, Consumer Electronics, Building and Construction, Oil and Gas, Furniture. The physical and chemical properties of resol resins, such as high heat resistance, flexibility, mechanical strength, moldability, and friction, result in their increased use in aesthetics Products.
Regional Insights:
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
On region the Global Phenolic Resins Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia-Pacific is expected to witness the highest growth due to high consumption of phenolic resins from end users such as consumer electronics, transportation, furniture, building and construction, and oil and gas in China and India.
Report Scope:
|
Attribute |
Details |
|
Base year for estimation |
2023 |
|
Forecast period |
2024– 2034 |
|
Market representation |
Revenue in USD Billion & CAGR from 2024 to 2034 |
|
Market Segmentation |
By Type – Novolac and Resol By Application – Molding, Wood Adhesives, Insulation, Laminates, Paper Impregnation, Coatings By End User Industry- Automotive and Transportation, Consumer Electronics, Building and Construction, Oil and Gas, Furniture |
|
Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
|
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the Global Phenolic Resins Market report based on Type, Application, End User and Region:
Global Phenolic Resins Market, By Type:
- Novolac
- Resol
Global Phenolic Resins Market, By Application:
- Molding
- Wood Adhesives
- Insulation
- Laminates
- Paper Impregnation
- Coatings
Global Phenolic Resins Market, By End User Industry:
- Automotive and Transportation
- Consumer Electronics
- Building and Construction
- Oil and Gas
- Furniture
Global Phenolic Resins Market, By Region:
-
-
- North America
-
- U.S.
- Canada
-
- Europe
-
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
-
- Asia Pacific
-
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
-
- Latin America
-
- Brazil
- Mexico
- Rest of Latin America
-
- Middle East & Africa
-
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
-
- North America
-
Phenolic Resins Market Key Players
The key players operating the Phenolic Resins Market includes Olympic Panel Products LLC, Ashland Inc., DIC Corporation, Hexcel Corp., Arizona Chemical Company LLC, Georgia Pacific Chemicals, Kolon Industries Inc., Momentive Specialty Chemicals, Sumitomo Bakelite Co. Ltd., Hitachi Chemical Co. Ltd. Prominent players operating in the target market are focusing on the strategic partnerships as well as launching of the products in order to gain competitive edge in the target market. For instance, In June 2022, Increased Adhesion and Structural Strength Have Remained the Focused Strategy of Phenolic Resins Manufacturers across Geographies, Evaluates Fact.MR, Arizona Chemicals are continuously performing research & development to increase the strength of phenolic resins to be used in fire retardants, sealant coatings, etc.
Phenolic Resins Market Company Profile
- Olympic Panel Products LLC
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Ashland Inc.
- DIC Corporation
- Hexcel Corp.
- Arizona Chemical Company LLC
- Georgia Pacific Chemicals
- Kolon Industries Inc.
- Momentive Specialty Chemicals
- Sumitomo Bakelite Co. Ltd.
- Hitachi Chemical Co. Ltd.
“*” marked represents similar segmentation in other categories in the respective section
Few Other Promising Reports:
Phenolic Resins Market Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Purview
- Executive Summary
- Key Findings—Global Outlook for medical carts Strategies
- Key Questions this Study will Answer
- Market Snippet, By Type
- Market Snippet, By Application
- Market Snippet, By End-User Industry
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Global Phenolic Resins Market, By Type
-
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Novolac
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Resol
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
-
- Global Phenolic Resins Market, By Application, 2020 – 2030, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Molding
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Wood Adhesives
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Insulation
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Laminates
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Paper Impregnation
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Coatings
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
- Global Phenolic Resins Market, By End User Industry, 2020 – 2030, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Automotive and Transportation
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Consumer Electronics
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Building and Construction
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Oil and Gas
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Furniture
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
- Global Phenolic Resins Market, By Region, 2020 – 2030, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Regional Trends
- North America
- Market Size and Forecast (US$ Bn), By Type, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Bn), By End-User, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Country, 2020 – 2030
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Bn), By Type, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Bn), By End-User, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Country, 2020 – 2030
- UK
- France
- Germany
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Bn), By Type, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Bn), By End-User, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Country, 2020 – 2030
- India
- Japan
- South Korea
- China
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Bn), By Type, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Bn), By End-User, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Country, 2020 – 2030
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Bn), By Type, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Bn), By End-User, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Country, 2020 – 2030
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
- Olympic Panel Products LLC
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Ashland Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- DIC Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Hexcel Corp
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Arizona Chemical Company LLC
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Georgia Pacific Chemicals
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Kolon Industries Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Momentive Specialty Chemicals
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Sumitomo Bakelite Co. Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Hitachi Chemical Co. Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- The Last Word
- Future Impact
- About Us
- Contact
FAQs
The Phenolic Resins Market is segmented into basis of on type, application, end user and region.
The growth of phenolic resin market is due to increasing demand from construction and transportation industries and increased demand for fire retardant materials for automobiles and aircrafts.
By region, Asia-Pacific is expected to witness the highest growth due to high consumption of phenolic resins from end users such as consumer electronics, transportation, furniture, building and construction, and oil and gas in China and India.
The Key players operating in the Phenolic Resins Market includes Olympic Panel Products LLC, Ashland Inc., DIC Corporation, Hexcel Corp., Arizona Chemical Company LLC, Georgia Pacific Chemicals, Kolon Industries Inc., Momentive Specialty Chemicals, Sumitomo Bakelite Co. Ltd., Hitachi Chemical Co. Ltd.