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Phenolic Resins Market: By Product Type, By Application Type, By End-User and Region Forecast 2019-2030
Phenolic Resins Market: By Product Type, By Application Type, By End-User and Region Forecast 2019-2030
Phenolic resins market size was valued at US$ 12.5 billion in 2023 and is expected to grow US$ 17.47 billion by 2030 at a CAGR of 4.9% from of 2024-2030. Phenolic resins were considered as the first profitable resins mainly used in the manufacturing process of molded products like billiard balls and laboratory countertops. They are the synthetic polymers obtained from the reaction between phenol and formaldehyde. They are even utilized as adhesives. Novolac, Resol resin, formaldehyde-free Phenolic resin, cresol, bio-Phenolic resin and Resol resin are the different product types of Phenolic resin.
They are used in several industrial activities like friction materials, insulation purposes, and laminates, molding compounds, fire retardants due to their crucial properties like adhesion, resistance, high mechanical strength, moisture, heat resistance and adhesion. These crucial properties further promote market demand.The market comprises of significant central participants who are leaned towards distinguishing crude materials got from regular items or side-effects and are significantly coming about because of biomass feedstock. These organizations are putting gigantic sums in R&D exercises and the advancements to acquire foothold and to set out rewarding development open doors during the conjecture time frame.
Study Period
2024-2030Base Year
2023CAGR
4.9%Largest Market
Asia PacificFastest Growing Market
North America
Environmental guidelines about formaldehyde production are the major restraining factors to restrict the Phenolic resin market growth. Phenolic resins are made from raw materials such as phenol and formaldehyde. Phenolic is also used in the manufacturing of compound wood products, building materials, paper products, paints and coating. But, the exposure to Phenolic resin can create adverse health issues as it is acidic to body tissue. It can also cause poisoning problem from ingestion and inhalation. Consequently, restrictions are made on the use of Phenol in the regions Europe and America. Environmental emission rules of formaldehyde can restrain the Phenolic resins market growth.
Phenolic resins market is growing due to the governmental rules and legislation encouraging energy efficiency in the United States. Increasing demand for plastics, which showcase fire-resistant properties, high thermal resistance led to a considerable growth in the acceptance of Phenolic resins. Another major factor driving the market is expansion of end-use industries like consumer electronics, automotive and construction. Asia Pacific is the region that drives the market due to the increase in customer spending levels and development of automotive, construction industries in Asia Pacific region.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 12.5 billion |
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Market Size in 2030 |
US$ 17.47 billion |
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Market CAGR |
4.9% |
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By Product Type |
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By Application Type |
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By End-use Industry |
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By Region |
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The global phenolic resins market size was valued at US$ 12.5 billion in 2023 and is projected to grow at a CAGR of 4.9% from 2024 to 2030.
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
BASF SE, Sumitomo Bakelite Co., Ltd., DIC Corporation, Shandong Laiwu Runda New Material Co., Ltd., Changshu South-East Plastic Co., Ltd, Hitachi Chemical Co., Ltd., Kolon Industries, Inc., Hexion Inc.
| 1. Executive Summary |
| 2. Global Phenolic Resins Market Introduction |
| 2.1.Global Phenolic Resins Market - Taxonomy |
| 2.2.Global Phenolic Resins Market - Definitions |
| 2.2.1.Product Type |
| 2.2.2.Application Type |
| 2.2.3.End-User |
| 2.2.4.Region |
| 3. Global Phenolic Resins Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4. Global Phenolic Resins Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Phenolic Resins Market By Product Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Resol Resin |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Novolac Resin |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 6. Global Phenolic Resins Market By Application Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Wood Adhesives |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Molding |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Insulation |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 7. Global Phenolic Resins Market By End-User, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. Automotive |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Building & Construction |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Furniture |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 8. Global Phenolic Resins Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Asia Pacific (APAC) |
| 8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Middle East and Africa (MEA) |
| 8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Latin America |
| 8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 9. North America Phenolic Resins Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Resol Resin |
| 9.1.2.Novolac Resin |
| 9.2. Application Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Wood Adhesives |
| 9.2.2.Molding |
| 9.2.3.Insulation |
| 9.3. End-User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Automotive |
| 9.3.2.Building & Construction |
| 9.3.3.Furniture |
| 9.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.4.1.United States of America (USA) |
| 9.4.2.Canada |
| 10. Europe Phenolic Resins Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Resol Resin |
| 10.1.2.Novolac Resin |
| 10.2. Application Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Wood Adhesives |
| 10.2.2.Molding |
| 10.2.3.Insulation |
| 10.3. End-User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.Automotive |
| 10.3.2.Building & Construction |
| 10.3.3.Furniture |
| 10.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1.Germany |
| 10.4.2.France |
| 10.4.3.Italy |
| 10.4.4.United Kingdom (UK) |
| 10.4.5.Spain |
| 10.4.6.Rest of EU |
| 11. Asia Pacific (APAC) Phenolic Resins Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Resol Resin |
| 11.1.2.Novolac Resin |
| 11.2. Application Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Wood Adhesives |
| 11.2.2.Molding |
| 11.2.3.Insulation |
| 11.3. End-User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.Automotive |
| 11.3.2.Building & Construction |
| 11.3.3.Furniture |
| 11.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1.China |
| 11.4.2.India |
| 11.4.3.Australia and New Zealand (ANZ) |
| 11.4.4.Japan |
| 11.4.5.Rest of APAC |
| 12. Middle East and Africa (MEA) Phenolic Resins Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Resol Resin |
| 12.1.2.Novolac Resin |
| 12.2. Application Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Wood Adhesives |
| 12.2.2.Molding |
| 12.2.3.Insulation |
| 12.3. End-User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Automotive |
| 12.3.2.Building & Construction |
| 12.3.3.Furniture |
| 12.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1.GCC Countries |
| 12.4.2.South Africa |
| 12.4.3.Rest of MEA |
| 13. Latin America Phenolic Resins Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 13.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1.Resol Resin |
| 13.1.2.Novolac Resin |
| 13.2. Application Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1.Wood Adhesives |
| 13.2.2.Molding |
| 13.2.3.Insulation |
| 13.3. End-User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1.Automotive |
| 13.3.2.Building & Construction |
| 13.3.3.Furniture |
| 13.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1.Brazil |
| 13.4.2.Mexico |
| 13.4.3.Rest of LA |
| 14. Competition Landscape |
| 14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 14.2.1. BASF SE |
| 14.2.2. Sumitomo Bakelite Co., Ltd. |
| 14.2.3. DIC Corporation |
| 14.2.4. Shandong Laiwu Runda New Material Co., Ltd. |
| 14.2.5. Changshu South-East Plastic Co., Ltd |
| 14.2.6. Hitachi Chemical Co., Ltd. |
| 14.2.7. Kolon Industries, Inc. |
| 14.2.8. Hexion Inc. |
| 15. Research Methodology |
| 16. Appendix and Abbreviations |
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.