New York, NY -- (SBWIRE) -- 03/04/2020 -- Market Industry Reports (MIR) has published a new report titled "Phenolic Resin Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030." According to the report, the global phenolic resin market was estimated to account for over US$ 11.5 billion by 2019. The market is anticipated to grow at a CAGR of 5.1% from 2019 to 2030.

Top Players:

Some of the prominent players present in the phenolic resin market include Hexion, Sumitomo Bakelite Co., Ltd., DIC CORPORATION, Plastics Engineering Company, SI Group, Hitachi Chemical Co., Ltd., BASF SE, Kolon Industries, Inc., SHANDONG LAIWU RUNDA NEW MATERIAL CO., LTD, and Georgia-Pacific Chemicals, among others.

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Growth Factor

The global phenolic resin market is driven by several factors, such as growth in automotive & tire industries worldwide, rising building & construction activities, and flourishing electrical & electronics industry especially in emerging countries of APAC and Eastern Europe. The adoption of nanotechnology to modify phenolic resins enhances the properties of the base product and increases its application scope. For instance, modification of phenolic resin by nano-copper particles substantially improves the brittleness and tribological performances of friction materials.

Moreover, the growing demand for light-weight vehicles and increasing demand for bio-based phenolic resin are anticipated to contribute significantly to market growth globally. Advanced properties of phenolic resins, such as fire retardation, heat resistance, and anti-corrosion, are opening new opportunities in various end-use industries and propelling market growth of phenolic resin globally.

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Table of Content:

5. GLOBAL PHENOLIC RESIN MARKET - ANALYSIS & FORECAST, BY TYPE
1. Resol Resin
2. Novolac Resin
3. Others

6.GLOBAL PHENOLIC RESIN MARKET - ANALYSIS & FORECAST, BY APPLICATION
5. Wood Adhesives
6. Lamination
7. Molding
8. Foundry
9. Insulation
10. Others

7.GLOBAL PHENOLIC RESIN MARKET - ANALYSIS & FORECAST, BY END-USE INDUSTRY
11. Automotive
12. Building & Construction
13. Furniture
14. Electrical & Electronics
15. Others

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