Phenolic Resins Market Overview:
The global Phenolic resins market anticipated to grow significantly on account of growing demand from the automotive and building & construction industries. Moreover, the advanced properties associated with phenolic resins and increasing demand from tire industry are expected to drive market over the forecast period. The high demand from the friction material & rubber in the transportation sector favors growth of the lightweight & durable phenolic compounds.
Phenolic Resins Market Key Players:
The leading market players in the global phenolic resins market primarily include;
• Hitachi Chemical,
• Kolon Industries,
• BASF,
• Mitsui Chemicals,
• DIC Corporation,
• SI Group,
• Georgia Pacific Chemicals,
• Sumitomo Bakelite.,
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Phenolic Resins Industry Trends/Updates:
• Researchers have come up with a new application of phenolic resins for printing purposes of cash register receipts, tickets and labels. They would be used an alternative to bisphenol A (BPA) which has hazardous health effects.
Growing introduction of carbon nanofibres in phenolic resins for carbon-contained refractory- Carbon nanofibers, due to their superior mechanical and thermal properties are finding novel applications in various industries including phenolic resins industry.
Phenolic Resins Market Regional Analysis:
The North America market for phenolic resins is estimated to propel owing to increased industrial activity, rebounding housing activities, and developing applications of phenolic resins in the motor vehicle market in the region. Asia-pacific market for phenolic resins is expected to grow considerably during the forecast period owing to ongoing industrialization and rapid constructional and infrastructural activities in developing economies. The Europe market too is favorable for phenolic resins owing to factors such as well-established infrastructure, availability of skilled workforce, high level of economic stability, investment in R&D, however, the market can be influenced due to shift in base of industries from Europe to emerging economies like Asia. The Middle East & Africa market is not so consolidated due to poor socio-economic conditions and a lack of skilled workforce.
Phenolic Resins Market Segmentation:
The global phenolic resins market has been segmented based on types and applications. By types, the market has been segmented into novolacs and resoles and by applications, the market has been segmented into automobiles, construction, wood adhesives, laminates, molding and others.
Phenolic Resins are used in flame retardant which is very crucial for automobiles and aircrafts. Owing to these factors, the global phenolic resins market is expecting a potential demand.
Phenolic Resins Market Table of Content to be Continue……,
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