Global Phenolic Resin Market is valued at approximately USD 10.9 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 4.00 % over the forecast period 2021-2027. Phenolic Resin is a synthetic resin produced from the polymerization of phenol and formaldehyde. Phenolic resins are used in a myriad of industrial products as well as being widely used in the manufacture of circuit boards. The Rise in residential and commercial building construction, growing wood industry has led to the adoption of Phenolic Resin across the forecast period. For Instance: According to the Department for Promotion of Industry and Internal Trade (DPIIT), FDIs in the construction development sector (townships, housing, built-up infrastructure, and construction development projects) and construction (infrastructure) activities stood at US$ 26.14 billion and US$ 25.38 billion, respectively, between April 2000 and June 2021. In FY21, infrastructure activities accounted for 13% share of the total FDI inflows of US$ 81.72 billion. Also, with the growing need for fuel-efficient and lightweight vehicles, the adoption & demand for Phenolic Resin is likely to increase the market growth during the forecast period. However, fluctuation in prices impedes the growth of the market over the forecast period of 2021-2027.

The key regions considered for the global Phenolic Resin market study include Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading region across the world in terms of market share owing to the presence of the chemical industry and global attractive automotive industry. Whereas, Asia-Pacific is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027. Factors such as growing investment in building & construction, and automotive industry would create lucrative growth prospects for the Phenolic Resin market across Asia-Pacific region.

Major market players included in this report are:
Akrochem Corporation (U.S)
Bakelite Synthetics (U.S)
Sumitomo Bakelite Company Limited (Japan)
SI Group Inc. (U.S)
Jinan Shengquan Group Share Holding Co., Ltd., (China)
Ashland Global Holdings, Inc. (U.S)
BASF SE (Germany)
Georgia-Pacific Chemicals' (U.S)
DIC Corp (Japan)
Hexcel Corporation (U.S)
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Resol
Novolac
Others
By Application:
Wood Adhesives
Laminates
Foundry & Moldings
Paper Impregnation
Coatings
Insulations
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027

Target Audience of the Global Phenolic Resin Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

Companies Mentioned

Akrochem Corporation (U.S)
Bakelite Synthetics (U.S)
Sumitomo Bakelite Company Limited (Japan)
SI Group Inc. (U.S)
Jinan Shengquan Group Share Holding Co., Ltd., (China)
Ashland Global Holdings, Inc. (U.S)
BASF SE (Germany)
Georgia-Pacific Chemicals' (U.S)
DIC Corp (Japan)
Hexcel Corporation (U.S)