Phenolic resins are polymers that have excellent heat and electrical resistance properties. It is majorly used as molding materials, abrasives, adhesives, laminates, friction materials, and insulators materials. Phenolic resins can be classified into resol and novolac. Resol is produced under normal conditions, with excess formaldehyde, whereas novolac is created under acidic conditions by using excess phenol.
The global phenolic resins market is estimated to be valued at US$ 21,365.5 million in 2028 and is expected to exhibit a CAGR of 5.5 % over the forecast period (2021-2028).
Request Copy Of This Business Report:https://www.coherentmarketinsights.com/market-insight/phenolic-resins-market-341
Increasing demand from the automotive industry and rapid growth in the construction sector is driving growth of the phenolic resins market. According to the India Brand Equity Foundation, India plans to spend US$ 1.4 trillion on infrastructure projects through the National Infrastructure Pipeline (NIP), from 2019 to 2023, to ensure sustainable development in the country.
However, the volatile price of raw materials is expected to restrict growth of the market.
Global Phenolic Resins Market, By Product Type:
Global Phenolic Resins Market, By Application:
Key companies covered as a part of this study include BASF SE, Chang Chun Plastics Co. Ltd., Georgia Pacific Chemicals LLC, Kolon Industries Inc., Prefere Resins, Mitsui Chemicals Inc., Sumitomo Bakelite Co., Ltd, Hitachi Chemical Co. Ltd., SI Group, Inc., and Momentive Specialty Chemicals, Inc.
About Coherent Market Insights:-
Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
Name: Mr. Shah
Phone: US +12067016702 / UK +4402081334027
Email: [email protected]
Visit Our Blogs:https://blog.coherentmarketinsights.com