Phenolic Resins Market Research Report- Forecast to 2030

Phenolic Resins Market: By Type (Resol & Novolac) Application (Wood Adhesives, Molding, Laminates, Foundry, Insulation & Others) End User (Automotive, Construction, Furniture, Electrical & Electronics And Others) & Region - Forecast Till 2030

ID: MRFR/CnM/4143-HCR | August 2022 | Region: Global | 158 Pages         

TABLE OF CONTENTS

1 Executive Summary

2 Scope of the Report

2.1 Market Definition

2.2 Scope of the Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Markets Structure

3 Market Research Methodology

3.1 Research Process

3.2 Secondary Research

3.3 Primary Research

3.4 Forecast Model

4 Market Landscape

4.1 Five Forces Analysis

4.1.1 Threat of New Entrants

4.1.2 Bargaining power of buyers

4.1.3 Threat of substitutes

4.1.4 Segment rivalry

4.2 Value Chain/Supply Chain of Global Phenolic Resins Market

5 Industry Overview of Global Phenolic Resins Market

5.1 Introduction

5.2 Growth Drivers

5.3 Impact analysis

5.4 Market Challenges

6 Market Trends

6.1 Introduction

6.2 Growth Trends

6.3 Impact analysis

7. Global Phenolic Resins Market by Type

7.1 Introduction

7.2 Resol

7.2.1 Market Estimates & Forecast, 2019-2027

7.2.2 Market Estimates & Forecast by Region, 2019-2027

7.3 Novolac

7.3.1 Market Estimates & Forecast, 2019-2027

7.3.2 Market Estimates & Forecast by Region, 2019-2027

7.4 Others

7.3.1 Market Estimates & Forecast, 2019-2027

7.3.2 Market Estimates & Forecast by Region, 2019-2027

8. Global Phenolic Resins Market by Application

8.1 Introduction

8.2 Wood Adhesives

8.2.1 Market Estimates & Forecast, 2019-2027

8.2.2 Market Estimates & Forecast by Region, 2019-2027

8.3 Molding

8.3.1 Market Estimates & Forecast, 2019-2027

8.3.2 Market Estimates & Forecast by Region, 2019-2027

8.4 Laminates

8.4.1 Market Estimates & Forecast, 2019-2027

8.4.2 Market Estimates & Forecast by Region, 2019-2027

8.5 Foundry

8.5.1 Market Estimates & Forecast, 2019-2027

8.5.2 Market Estimates & Forecast by Region, 2019-2027

8.6 Insulation

8.6.1 Market Estimates & Forecast, 2019-2027

8.6.2 Market Estimates & Forecast by Region, 2019-2027

8.7 Others

8.7.1 Market Estimates & Forecast, 2019-2027

8.7.2 Market Estimates & Forecast by Region, 2019-2027

9. Global Phenolic Resins Market by End Use

9.1 Introduction

9.2 Automotive

9.2.1 Market Estimates & Forecast, 2019-2027

9.2.2 Market Estimates & Forecast by Region, 2019-2027

9.3 Construction & Building

9.3.1 Market Estimates & Forecast, 2019-2027

8.3.2 Market Estimates & Forecast by Region, 2019-2027

9.4 Furniture

9.4.1 Market Estimates & Forecast, 2019-2027

8.4.2 Market Estimates & Forecast by Region, 2019-2027

9.5 Electricals & Electronics

9.5.1 Market Estimates & Forecast, 2019-2027

8.5.2 Market Estimates & Forecast by Region, 2019-2027

9.6 Others

9.6.1 Market Estimates & Forecast, 2019-2027

8.6.2 Market Estimates & Forecast by Region, 2019-2027

10. Global Phenolic Resins Market by Region

10.1 Introduction

10.2 North America

10.2.1 Market Estimates & Forecast, 2019-2027

10.2.2 Market Estimates & Forecast by Type, 2019-2027

10.2.3 Market Estimates & Forecast by Application, 2019-2027

10.2.4 Market Estimates & Forecast by End Use, 2019-2027

10.2.5 US

10.2.5.1 Market Estimates & Forecast, 2019-2027

10.2.5.2 Market Estimates & Forecast by Type, 2019-2027

10.2.5.3 Market Estimates & Forecast by Application, 2019-2027

10.2.5.4 Market Estimates & Forecast by End Use, 2019-2027

10.2.6 Canada

10.2.6.1 Market Estimates & Forecast, 2019-2027

10.2.6.2 Market Estimates & Forecast by Type, 2019-2027

10.2.6.3 Market Estimates & Forecast by Application, 2019-2027

10.2.6.4 Market Estimates & Forecast by End Use, 2019-2027

10.2.7 Mexico

10.2.7.1 Market Estimates & Forecast, 2019-2027

10.2.7.2 Market Estimates & Forecast by Type, 2019-2027

10.2.7.3 Market Estimates & Forecast by Application, 2019-2027

10.2.7.4 Market Estimates & Forecast by End Use, 2019-2027

10.3 Europe

10.3.1 Market Estimates & Forecast, 2019-2027

10.3.2 Market Estimates & Forecast by Type, 2019-2027

10.3.3 Market Estimates & Forecast by Application, 2019-2027

10.3.4 Market Estimates & Forecast by End Use, 2019-2027

10.3.5 Germany

10.3.5.1 Market Estimates & Forecast, 2019-2027

10.3.5.2 Market Estimates & Forecast by Type, 2019-2027

10.3.5.3 Market Estimates & Forecast by Application, 2019-2027

10.3.5.4 Market Estimates & Forecast by End Use, 2019-2027

10.3.6 Italy

10.3.6.1 Market Estimates & Forecast, 2019-2027

10.3.6.2 Market Estimates & Forecast by Type, 2019-2027

10.3.6.3 Market Estimates & Forecast by Application, 2019-2027

10.3.6.4 Market Estimates & Forecast by End Use, 2019-2027

10.3.7 UK

10.3.7.1 Market Estimates & Forecast, 2019-2027

10.3.7.2 Market Estimates & Forecast by Type, 2019-2027

10.3.7.3 Market Estimates & Forecast by Application, 2019-2027

10.3.7.4 Market Estimates & Forecast by End Use, 2019-2027

10.4 Asia Pacific

10.4.1 Market Estimates & Forecast, 2019-2027

10.4.2 Market Estimates & Forecast by Type, 2019-2027

10.4.3 Market Estimates & Forecast by Application, 2019-2027

10.4.4 Market Estimates & Forecast by End Use, 2019-2027

10.4.5 China

10.4.5.1 Market Estimates & Forecast, 2019-2027

10.4.5.2 Market Estimates & Forecast by Type, 2019-2027

10.4.5.3 Market Estimates & Forecast by Application, 2019-2027

10.4.5.3 Market Estimates & Forecast by End Use, 2019-2027

10.4.6 India

10.4.6.1 Market Estimates & Forecast, 2019-2027

10.4.6.2 Market Estimates & Forecast by Type, 2019-2027

10.4.6.3 Market Estimates & Forecast by Application, 2019-2027

10.4.6.4 Market Estimates & Forecast by End Use, 2019-2027

10.4.7 Japan

10.4.7.1 Market Estimates & Forecast, 2019-2027

10.4.7.2 Market Estimates & Forecast by Type, 2019-2027

10.4.7.3 Market Estimates & Forecast by Application, 2019-2027

10.4.7.4 Market Estimates & Forecast by End Use, 2019-2027

10.4.8 Rest of Asia Pacific

10.4.8.1 Market Estimates & Forecast, 2019-2027

10.4.8.2 Market Estimates & Forecast by Type, 2019-2027

10.4.8.3 Market Estimates & Forecast by Application, 2019-2027

10.4.8.4 Market Estimates & Forecast by End Use, 2019-2027

10.5 Middle East & Africa

10.5.1 Market Estimates & Forecast, 2019-2027

10.5.2 Market Estimates & Forecast by Type, 2019-2027

10.5.3 Market Estimates & Forecast by Application, 2019-2027

10.5.4 Market Estimates & Forecast by End Use, 2019-2027

10.5.5 Saudi Arabia

10.5.5.1 Market Estimates & Forecast, 2019-2027

10.5.5.2 Market Estimates & Forecast by Type, 2019-2027

10.5.5.3 Market Estimates & Forecast by Application, 2019-2027

10.5.5.4 Market Estimates & Forecast by End Use, 2019-2027

10.5.6 Qatar

10.5.6.1 Market Estimates & Forecast, 2019-2027

10.5.6.2 Market Estimates & Forecast by Type, 2019-2027

10.5.6.3 Market Estimates & Forecast by Application, 2019-2027

10.5.6.4 Market Estimates & Forecast by End Use, 2019-2027

10.5.7 North Africa

10.5.7.1 Market Estimates & Forecast, 2019-2027

10.5.7.2 Market Estimates & Forecast by Type, 2019-2027

10.5.7.3 Market Estimates & Forecast by Application, 2019-2027

10.5.7.4 Market Estimates & Forecast by End Use, 2019-2027

10.5.8 GCC

10.5.8.1 Market Estimates & Forecast, 2019-2027

10.5.8.2 Market Estimates & Forecast by Type, 2019-2027

10.5.8.3 Market Estimates & Forecast by Application, 2019-2027

10.5.8.4 Market Estimates & Forecast by End Use, 2019-2027

10.5.9 Rest of Middle East & Africa

10.5.9.1 Market Estimates & Forecast, 2019-2027

10.5.9.2 Market Estimates & Forecast by Type, 2019-2027

10.5.9.3 Market Estimates & Forecast by Application, 2019-2027

10.5.9.4 Market Estimates & Forecast by End Use, 2019-2027

10.6 Latin America

10.6.1 Market Estimates & Forecast, 2019-2027

10.6.2 Market Estimates & Forecast by Type, 2019-2027

10.6.3 Market Estimates & Forecast by Application, 2019-2027

10.6.4 Market Estimates & Forecast by End Use, 2019-2027

10.6.5 Brazil

10.6.5.1 Market Estimates & Forecast, 2019-2027

10.6.5.2 Market Estimates & Forecast by Type, 2019-2027

10.6.5.3 Market Estimates & Forecast by Application, 2019-2027

10.6.5.4 Market Estimates & Forecast by End Use, 2019-2027

10.6.6 Argentina

10.6.6.1 Market Estimates & Forecast, 2019-2027

10.6.6.2 Market Estimates & Forecast by Type, 2019-2027

10.6.6.3 Market Estimates & Forecast by Application, 2019-2027

10.6.6.4 Market Estimates & Forecast by End Use, 2019-2027

10.6.7 Uruguay

10.6.7.1 Market Estimates & Forecast, 2019-2027

10.6.7.2 Market Estimates & Forecast by Type, 2019-2027

10.6.7.3 Market Estimates & Forecast by Application, 2019-2027

10.6.7.4 Market Estimates & Forecast by End Use, 2019-2027

10.6.8 Rest of Latin America

10.6.8.1 Market Estimates & Forecast, 2019-2027

10.6.8.2 Market Estimates & Forecast by Type, 2019-2027

10.6.8.3 Market Estimates & Forecast by Application, 2019-2027

10.6.8.4 Market Estimates & Forecast by End Use, 2019-2027

11. Company Landscape

12. Company Profiles

12.1 Hexion Inc.

12.1.1 Company Overview

12.1.2 Product/Business Segment Overview

12.1.3 Financial Updates

12.1.4 Key Developments

12.2 Hitachi Chemical Co., Ltd

12.2.1 Company Overview

12.2.2 Product/Business Segment Overview

12.2.3 Financial Updates

12.2.4 Key Developments

12.3 Sumitomo Bakelite Co., Ltd.

12.3.1 Company Overview

12.3.2 Product/Business Segment Overview

12.3.3 Financial Updates

12.3.4 Key Developments

12.4 SI Group, Inc.

12.4.1 Company Overview

12.4.2 Product/Business Segment Overview

12.4.3 Financial Updates

12.4.4 Key Developments

12.5 DIC Corporation

12.5.1 Company Overview

12.5.2 Product/Business Segment Overview

12.5.3 Financial Updates

12.5.4 Key Developments

12.6 BASF SE

12.6.1 Company Overview

12.6.2 Product/Business Segment Overview

12.6.3 Financial Updates

12.6.4 Key Developments

12.7 Kolon Industries, Inc.

12.7.1 Company Overview

12.7.2 Product/Business Segment Overview

12.7.3 Financial Updates

12.7.4 Key Developments

12.8 Momentive Specialty Chemicals

12.8.1 Company Overview

12.8.2 Product/Business Segment Overview

12.8.3 Financial Updates

12.8.4 Key Developments

12.9 Dujodwala Paper Chemicals Ltd.

12.9.1 Company Overview

12.9.2 Product/Business Segment Overview

12.9.3 Financial Updates

12.9.4 Key Developments

12.10 Pacific Chemicals LLC

12.10.1 Company Overview

12.10.2 Product/Business Segment Overview

12.10.3 Financial Updates

12.10.4 Key Developments

13 Conclusion

LIST OF TABLES

Table 1 World Population by Major Regions (2019 To 2030)

Table 2 Global Phenolic Resins Market: By Region, 2019-2027

Table 3 North America Phenolic Resins Market: By Country, 2019-2027

Table 4 Europe Phenolic Resins Market: By Country, 2019-2027

Table 5 Asia-Pacific Phenolic Resins Market: By Country, 2019-2027

Table 6 Middle East & Africa Phenolic Resins Market: By Country, 2019-2027

Table 7 Latin America Phenolic Resins Market: By Country, 2019-2027

Table 8 Global Phenolic Resins by Process Market: By Regions, 2019-2027

Table 9 North America Phenolic Resins by Process Market: By Country, 2019-2027

Table10 Europe Phenolic Resins by Process Market: By Country, 2019-2027

Table11 Asia-Pacific Phenolic Resins by Process Market: By Country, 2019-2027

Table12 Middle East & Africa Phenolic Resins by Process Market: By Country, 2019-2027

Table13 Latin America Phenolic Resins by Process Market: By Country, 2019-2027

Table14 Global Phenolic Resins by Application Market: By Regions, 2019-2027

Table15 North America Phenolic Resins by Application Market: By Country, 2019-2027

Table16 Europe Phenolic Resins by Application Market: By Country, 2019-2027

Table17 Asia-Pacific Phenolic Resins by Application Market: By Country, 2019-2027

Table18 Middle East & Africa Phenolic Resins by Application Market: By Country, 2019-2027

Table19 Latin America Phenolic Resins by Application Market: By Country, 2019-2027

Table20 North America Phenolic Resins for Grade Market: By Country, 2019-2027

Table21 Europe Phenolic Resins for Grade Market: By Country, 2019-2027

Table22 Asia-Pacific Phenolic Resins for Grade Market: By Country, 2019-2027

Table23 Middle East & Africa Phenolic Resins for Grade Market: By Country, 2019-2027

Table24 Latin America Phenolic Resins for Grade Market: By Country, 2019-2027

Table25 Global Process Market: By Region, 2019-2027

Table26 Global Grade Market: By Region, 2019-2027

Table27 Global Grade Market: By Region, 2019-2027

Table28 North America Phenolic Resins Market, By Country

Table29 North America Phenolic Resins Market, By Type

Table30 North America Phenolic Resins Market, By Application

Table31 North America Phenolic Resins Market, By End Use

Table32 Europe: Phenolic Resins Market, By Country

Table33 Europe: Phenolic Resins Market, By Type

Table34 Europe: Phenolic Resins Market, By Application

Table35 Europe: Phenolic Resins Market, By End Use

Table36 Asia-Pacific: Phenolic Resins Market, By Country

Table37 Asia-Pacific: Phenolic Resins Market, By Type

Table38 Asia-Pacific: Phenolic Resins Market, By Application

Table39 Asia-Pacific: Phenolic Resins Market, By end Use

Table40 Middle East & Africa: Phenolic Resins Market, By Country

Table41 Middle East & Africa Phenolic Resins Market, By Type

Table42 Middle East & Africa Phenolic Resins Market, By Application

Table43 Middle East & Africa: Phenolic Resins Market, By End Use

Table44 Latin America: Phenolic Resins Market, By Country

Table45 Latin America Phenolic Resins Market, By type

Table46 Latin America Phenolic Resins Market, By Application

Table47 Latin America: Phenolic Resins Market, By End Use

LIST OF FIGURES

FIGURE 1 Global Phenolic Resins market segmentation

FIGURE 2 Forecast Methodology

FIGURE 3 Five Forces Analysis of Global Phenolic Resins Market

FIGURE 4 Value Chain of Global Phenolic Resins Market

FIGURE 5 Share of Global Phenolic Resins Market in 2019, by country (in %)

FIGURE 6 Global Phenolic Resins Market, 2019-2027,

FIGURE 7 Sub segments of Process

FIGURE 8 Global Phenolic Resins Market size by Type, 2019

FIGURE 9 Share of Global Phenolic Resins Market by Type, 2019 to 2027

FIGURE 10 Global Phenolic Resins Market size by Application, 2019

FIGURE 11 Share of Global Phenolic Resins Market by Application, 2019 to 2027

FIGURE 12 Global Phenolic Resins Market size by End-Use, 2019

FIGURE 13 Share of Global Phenolic Resins Market by End-Use, 2019 to 2027

Phenolic Resins Market

Phenolic Resins Market is projected to be worth to US$ 21,365.5 million in 2028 and is expected to exhibit a CAGR of 5.5 % over the forecast period (2021-2028).

Segmentation

By Type Resol & Novolac
Application Wood Adhesives Molding Laminates Foundry Insulation

Key Players

  • Hexion Inc. In the U.S.
  • Hitachi Chemical Co.
  • Ltd. in Japan
  • Sumitomo Bakelite Co.
  • Ltd. In Japan
  • SI Group
  • Inc. In the U.S.
  • DIC Corporation in Japan
  • BASF SE in Germany
  • Kolon Industries
  • Inc. In South Korea
  • Momentive Specialty Chemicals in the US
  • Dujodwala Paper Chemicals Ltd. in India
  • Georgia-Pacific Chemicals LLC in the U.S.

Drivers

  • Growing demand from construction industry
  • Growing focus towards R&D activities to innovate new products and technological advancements
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Phenolic Resins Market Overview:


Phenolic resins are polymers that consist of tremendous heat resistant and electrical resistant properties. The material is highly durable, due to which it is used in the molding process, abrasives, adhesives, laminations, insulator materials and others. The phenolic resins are divided into Novolac and Resol. The production of resol is done under the normal condition, whereas Novolac is created under acidic conditions using excess phenol. The phenolic resin market is growing, and it will grow to a high range over the next five years. The growing demand for eco-friendly vehicles is propelling the market growth. Due to the high usage of lightweight and durable vehicles, the phenolic resins Market will grow. The fire and heat resistance of the material makes the material useful in different industries.


COVID-19 Analysis 


the phenolic resins are high-temperature plastics made from the interaction of carbon-based alcohols. They are mostly used in automotive industries and to manufacture circuit boards due to the resistant property of the material. The pandemic has negatively impacted the phenolic resins market Value due to the COVID19 several manufacturing plants industries using the phenolic resin stopped working to limit the transmission of the virus and the halt in the production and manufacture impact in the growth of the market. In the outbreak, the trade reduction and disruption in the value chain impacted the market value the market experience a decline. With the situation getting better, the market is trying to grow profitable and improve globally.


Chief Factors Existing In The Market 



Key Market Drivers

The increasing demand for the construction industry in several regions is a major driver for market growth. This usage in the automotive industry for vehicle production and demand for vehicles with fuel-efficient and lightweight is expected to propel the market growth during the forecast period. The innovation of new products and technological invasion are driving the phenolic resins market. The increasing demand for molding applications is a driving factor for the market. The phenolic resins are used in underwater pipelines, 3D printers, underground drainage and many others, improving market growth.

Increasing knowledge about the usage and application drives the market. The increasing demand for lightweight, energy-efficient, environmentally friendly synthetic structures boosts the 
phenolic resins market. The phenolic resins molded components act as a safety base and improve the overall performance of the vehicles, which makes the market more efficient. The use of phenolic resin in impregnated materials regarding the stringent rules for energy-efficient products promotes the market. The demand for thermal insulation, durability low-density materials for the building of the green spaces propels the phenolic resins market.

Market Challenges

Phenol is a mutagenic component and can harm the environment during the process, and it also creates issues while manufacturing process for P.F. resins. It is also necessary to take several safety measures to prevent exposure for the workers. The constant change in the raw materials and production issues creates challenges for the several market players investing in the market growth.

Market Opportunities

The demand for sustainable and eco-friendly feedstock for resin production offers several growth opportunities for the market. Increasing renovation and new construction of residents and buildings will open further opportunities for the phenolic resins market Revenue. The demand for wood adhesive in household furniture creates ample growth opportunities.

Market Restraints

The constant fluctuation in the price of the raw materials for the market is a restraining factor for the market growth. The demand for petroleum-based products also acts as a limiting factor. The environmental problems due to the production of the phenolic resins act as a limiting cause for the phenolic resins market.

Cumulative Evaluation of The Market 


The cumulative evaluation of the market shows the recent development and future opportunities. Covid has negatively impacted the phenolic resins market, which is coping with. Different market segmentation such as drivers and opportunities act as a growth factor and foster the market. The restraining challenges limit the growth, although the market is trying to overcome the challenges and hold the high CAGR in the forecast period.


Market Segmentation 


The Phenolic Resins Market is divided into type, application and end-user. The segments accelerate market growth and are expected to experience more growth in the forecast period.



By type

The phenolic resins market is segmented into Resol and Novolac based on the segment type. The increasing awareness on novolac properties like high thermal stability lightweight, heat resistant properties in the industries such as marine and construction is expected to increase the demand for the market in the future. In the automotive industry, the market will experience profit as the use of novolac resins increases. In 2021, the novolac segment was the highest CAGR segment among both segments.

By application

Based on the segment application, the market is divided into Molding, Laminates, Wood Adhesives, Foundry, Insulation and others. With the increase of houses, many people are using furniture for their house, which leads to the usage of the wood adhesive for the furniture due to which it is used mostly and will used in the forecast period. The increases in the usage of domestic furniture help the market in further growth. The increased use of wood adhesive properties like water resistance and moisture by several industries is propelling the growth of the phenolic resins market.

By end-user

The end-user segment bifurcated into Automotive, Furniture, Electrical & Electronics, Construction, And Others. the huge application of the phenolic resins in the automotive industry increases the demand. The demand for vehicles with less oil consumption, lightweight material, and work with electricity and better speed and quality of performance by humans motivates the automotive industry to use the phenolic resins, which drives the market. The phenolic resins are used in several household products as well. It is used in appliances, cookware handles, ovens, toasters and other places where heat resistance is required. The segments will increase the phenolic resins market Size.

Global Phenolic Resins Market share, by Product (%) (2018)


 Phenolic Resins Market


Source: MRFR Analysis


Regional Analysis 


The phenolic resins Industry is studied in North America, Asia Pacific, Latin America, Europe, the Middle East and Africa. In 2016 the Asia Pacific region dominated the market. The region holds one-third of the total market share and will expand during the forecast period. In the region, the automotive and construction industries are increasing due to the high population countries, leading to the increases of the phenolic resins market Share.

The demand for electronic dominance and stringent government policies has supported the lightweight composites and generated demand for phenolic resins. Due to the established market in Germany, Italy, Spain and other Europe hold second largest market share. In the North American region, many key economies shifted their Automotives to south Asia countries, due to which the market is showing significant growth. Due to the new construction projects in the middle east and Africa region, the place is anticipated to grow in coming years. Latin America is showcasing a steady growth rate, and due to the urbanization in the region, the market could behold growth.


Competitive Intensity Within The Industry 


The competitive intensity of the phenolic resins market showcases the companies investing in the market. The mentioned companies are adopting different strategies to hold the market share globally compared to other markets. The companies collaborate with several other companies, acquire different projects, do several product launches and partnerships and invest in research to increase the consumer base and the phenolic resins market Revenue. The prominent key players are expected to register more growth and profitable impact on the market. some of the global key players of the phenolic resins market are



  • Hexion Inc. In the U.S.

  • Hitachi Chemical Co., Ltd. in Japan

  • Sumitomo Bakelite Co., Ltd. In Japan

  • SI Group, Inc. In the U.S.

  • DIC Corporation in Japan

  • BASF SE in Germany

  • Kolon Industries, Inc. In South Korea

  • Momentive Specialty Chemicals in the US

  • Dujodwala Paper Chemicals Ltd. in India

  • Georgia-Pacific Chemicals LLC in the U.S.


Recent Market Developments 



November 2021-ASK Chemicals Group has acquired SI Group’s industrial resins business in the United States. This acquisition should help ASK Chemicals Group; Düsseldorf (Germany) bolster its position as a reputed developer of high-performance industrial phenolic resins.
The acquisition will not only reinforce the company’s position in the global foundry sector but also accelerate its growth in the industrial phenolic resins business, which is touted to be an attractive venture with promising opportunities.

April 2021-Hexion has sold its phenolic specialty resins business worth USD 425 million, along with two more businesses to a group of private-equity firms that comprise Black Diamond as well as Investindustrial. Hexion’s phenolic specialty resins business covers Bakelite, touted as the first-ever synthetic plastic. Other brands are Cellobond, Resonance, and Durite.

Revolution VLR is a new composite-based passenger vehicle designed to simplify the U.K.'s existing rail network extension and reopen historical lines.

Report Overview


the report provides a detailed analysis of the phenolic resins market. The report mainly focuses on several key prominent aspects of the market such as drivers, restraints, opportunities and challenges, competitive landscape, and the recent market development. The report is done with proper research about the market, and the market information is depicted within the report. All the market development is based on the phenolic resins market Value.


Key Industrial Segments 


By type



  • Resol 

  • Novolac

  • others


By application



  • wood adhesive

  • molding

  • laminates

  • foundry

  • insulation

  • others


By end-user



  • construction

  • electrical and electronics

  • furniture

  • automotive

  • others



Report Scope:
Report Attribute/Metric Details
  Market Size   2030: Significant Value
  CAGR   2022 to 2030: Substantial CAGR
  Base Year   2021
  Forecast Period   2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Application, End-User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Hexion Inc. (U.S.), Hitachi Chemical Co., Ltd. (Japan), Sumitomo Bakelite Co., Ltd. (Japan), SI Group, Inc. (U.S.), DIC Corporation (Japan), BASF SE (Germany), Kolon Industries, Inc. (South Korea), Momentive Specialty Chemicals (US), Dujodwala Paper Chemicals Ltd. (India), and Georgia-Pacific Chemicals LLC (US)
  Key Market Opportunities

  • Need for fuel-efficient and lightweight vehicles
  • Consistent price fluctuation of raw material may
  •   Key Market Drivers

  • Growing demand from construction industry
  • Growing focus towards R&D activities to innovate new products and technological advancements


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    Frequently Asked Questions (FAQ) :

    Phenolic resins are synthetic polymers obtained by the reaction of phenol with formaldehyde.

    Major advantages of phenolic resins include their high mechanical strength, heat resistance, and low toxicity.

    Major types of phenolic resins include novolacs and resoles.

    Major application segments in the global phenolic resin market include automobiles, wood adhesives, construction, laminates, molding, and others.

    Leading players in the global phenolic resins market include Sumitomo Bakelite, SI Group, DIC Corporation, and BASF.