Phenolic Resins Market Size, Share, Growth, Trends, and Global Industry Analysis: By Product Type (Resol Resin, Novolac Resin), By Application Type (Wood Adhesives, Molding, Insulation), By End-User (Automotive, Building & Construction, Furniture) and Region Forecast 2020-2031

Phenolic resins market size was valued at US$ 13.11 billion in 2024 and is expected to reach US$ 18.33 billion by 2031, growing at a significant CAGR of 4.9% from 2025-2031. 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.

Key Developments:

• In Oct 2023, ASK Chemicals, a global leader in chemical solutions for the casting industry, has introduced its REZIANCE brand, a new portfolio of industrial phenolic resins. This expansion follows the company's 2021 acquisition of an industrial resin business, broadening its applications to include friction, abrasives, refractories, impregnation, wood, paints, and coatings. The REZIANCE brand reflects ASK Chemicals' commitment to diversification and technical excellence.
• In May 2022, Bakelite Synthetics completed its acquisition of Georgia-Pacific's chemicals business, enhancing its product portfolio and market reach. This expansion includes 11 facilities in the U.S. and South America, adding approximately 600 employees. The combined company, headquartered in Atlanta, Georgia, now operates 21 manufacturing sites across 10 countries, employing about 1,500 associates.