Phenolic Resins Market Analysis Forecast to 2020 by P&S Market Research

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Phenolic Resins Market Analysis Forecast to 2020 by P&S Market Research
GLOBAL INDUSTRY INSIGHT:
Phenolic Resins Market Size, Share, Development, Growth and Demand
Forecast to 2020
Global Phenolic Resins Market Size, Share, Development, Growth
and Demand Forecast to 2020
The key drivers behind the growing demand of global phenolic resins include growing demand from construction
and transports application, and increased usage of fire retardant materials in automotive and aircraft components.
However, the volatility in crude oil prices is expected to restrain the growth of the global phenolic resins market,
as crude oil is a major raw material needed for the manufacturing of phenolic resins. In addition, the
environmental regulation regarding formaldehyde emissions is expected to restrain the growth of the global
phenolic resins market, as huge investments are required to be made for meeting the environmental emission
standards.
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Phenolic resins are also known as phenol-formaldehyde resins, and act as synthetic polymers produced by the
reaction of phenol or substituted phenol with formaldehyde under the presence of heat. Phenolic resins is widely
used in wood adhesives, insulation, molding compounds, laminates, and other applications, owing to its good
heat resistance, high tensile strength, low toxicity, low smoke, and flame retardant.
The global phenolic resins market can be segmented, on the basis of products and applications.
On the basis of product, the global phenolic resins market can be segmented into novolac resins, resol resins,
and others. Novolac resins are produced under acidic condition with excess phenol, while resol resins are
produced under basic conditions with excess formaldehyde. The major product segment of phenolic resins is
resol resin, which accounted for around 49% of the market share in 2014. The major factors driving the growth of
the global resol resins market is increasing demand from the wood adhesion market and laminates market.
Moreover, the considerable demand from other application, such as manufacturing of engineered laminated
composite lumber (LCL) and oriented strand boards (OSB) is expected to drive the growth of the global resol
resins market during the forecast period. The novolac resins product segment is expected to gain its market share
during the forecast period, owing to its ability to mold easily.
On the basis of application, the global phenolic resins market can be segmented into laminates, insulation, wood
adhesives, molding compound, and others. The “others” section in the phenolic application segment include
abrasives, rubber adhesives, friction materials, and general adhesives coatings. The wood adhesive industry
accounted for the largest market share in the application segment of the global phenolic resins market during
2014. The major factors supporting the growth of the wood adhesive application segment in the global phenolic
resins market is the significant growth within the building and construction industry in Asia-Pacific, and improving
market of building and construction in North America. Laminates is expected to be the fastest growing application
segment in the global phenolic resins market, due to the increasing demand for decorative laminates and
industrial laminates globally.
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Global Phenolic Resins Market Size, Share, Development, Growth
and Demand Forecast to 2020
Geographically, Asia-Pacific is the largest market for phenolic resins, followed by North America and Europe.
During the forecast period, the Asia-Pacific phenolic resins market is expected to grow at the fastest rate, which is
driven by the increasing consumption of molding compounds in countries, such as India and China, and its ample
use in construction applications.
Browse related market research at: https://www.psmarketresearch.com/industry-report/semiconductor-andelectronics
Some of the major competitors in the global phenolic resins market include Chang Chun Plastics Co. Ltd., BASF
SE, Kolon Industries Inc., Hitachi Chemical Co. Ltd., Momentive Specialty Chemicals Inc., Georgia Pacific
Chemicals LLC, Mitsui Chemicals Inc., Sumitomo Bakelite Co. Ltd, Georgia Pacific Chemicals LLC, Dujodwala
Paper Chemicals Ltd., DIC Corporation, and Prefere Resins.
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