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Phenolic Resin Market - Growth, Trends, and Forecast (2020 - 2025)

  • ID: 5025768
  • Report
  • May 2020
  • Region: Global
  • 120 pages
  • Mordor Intelligence
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FEATURED COMPANIES

  • BASF SE
  • DIC CORPORATION
  • Georgia-Pacific Chemicals
  • Hexcel Corporation
  • Hexion
  • KANGNAM CHEMICAL
  • MORE
The market for the phenolic resin is expected to grow at a CAGR of 4% during the forecast period. The major factor driving the growth of the market is the increasing demand from the construction and transportation industries. The unfavorable conditions arising due to the COVID-19 outbreak is anticipated to impede the growth of the market studied.
  • The molding application is anticipated to dominate the overall phenolic resin market across the globe during the forecast timeline.
  • Asia-Pacific region is expected to be the largest market because of the increasing consumption in end-user industries of the product in the region.
Key Market Trends

Increasing Demand of Molding Application to Drive Phenolic Resin Market
  • Phenolic resins are utilized for its properties including fire resistant, high elasticity, surface hardness, chemical resistance, and electrical insulation.
  • Molding applications are foreseen to rise as the quickest developing business sector fragment, attributable to chemical resistance provided by this material in high temperatures or aggressive environments.
  • Increase in the demand for molding application of the phenolic resin for various purposes including abrasive grinding wheels, friction linings, refractory products due to properties like high elasticity, heat resistance, surface hardness is driving the market growth.
  • Government support to cultivate local assembling exercises is driving interest for phenolic resins in the building & construction sector, etc. Moreover, the molding division is widely used in end-user industries like household applications, electrical & electronics, compression and injection molded parts for the oil & gas industry.
  • All the aforementioned factors are expected to drive the phenolic resin market during the forecast period.
Asia-Pacific to be the Fastest Growing Market for Phenolic Resin
  • Asia-Pacific region is expected to witness the highest growth rate attributing to the high consumption of phenolic resins from end-users in economies like China, India, etc. from the region.
  • The revenue of Japan’s furniture market is projected to be USD 102.83 billion in 2020 and is forecasted to grow at an annual CAGR of 2.5% during 2020-2023.
  • In China, the total revenue of the consumer electronics sector is estimated to be USD 173.76 billion in 2020 and is anticipated to grow to a market size of USD 190.23 billion by 2024.
  • The revenue accrued from the household appliances segment in India is estimated to be USD 2.01 billion in 2020 and is predicted to reach a market value of USD 2.98 billion in 2024.
  • Thus, rising demand from various industries is expected to drive the market studied in the region during the forecast period.
Competitive Landscape

The phenolic resin market is fragmented. Some of the players in the market include DIC CORPORATION, BASF SE, Sumitomo Bakelite Co., Ltd., Hexion, and KANGNAM CHEMICAL.

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FEATURED COMPANIES

  • BASF SE
  • DIC CORPORATION
  • Georgia-Pacific Chemicals
  • Hexcel Corporation
  • Hexion
  • KANGNAM CHEMICAL
  • MORE
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Demand from the Construction and Transportation Industries
4.1.2 Other Drivers
4.2 Restraints
4.2.1 Unfavorable Conditions Arising Due to COVID-19 Outbreak
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porters Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Degree of Competition

5 MARKET SEGMENTATION
5.1 Product Type
5.1.1 Novolac
5.1.2 Resol
5.2 Application
5.2.1 Molding
5.2.2 Adhesive
5.2.3 Insulation
5.2.4 Others
5.3 End-user Industry
5.3.1 Automotive & Transportation
5.3.2 Consumer Electronics
5.3.3 Building & Construction
5.3.4 Oil & Gas
5.3.5 Furniture
5.3.6 Others
5.4 Geography
5.4.1 Asia-Pacific
5.4.1.1 China
5.4.1.2 India
5.4.1.3 Japan
5.4.1.4 South Korea
5.4.1.5 Rest of Asia-Pacific
5.4.2 North America
5.4.2.1 United States
5.4.2.2 Canada
5.4.2.3 Mexico
5.4.3 Europe
5.4.3.1 Germany
5.4.3.2 United Kingdom
5.4.3.3 France
5.4.3.4 Italy
5.4.3.5 Rest of Europe
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle-East and Africa
5.4.5.1 Saudi Arabia
5.4.5.2 South Africa
5.4.5.3 Rest of Middle-East and Africa

6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share/Ranking Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 BASF SE
6.4.2 Changshu South-East Plastic Co., Ltd.
6.4.3 DIC CORPORATION
6.4.4 Georgia-Pacific Chemicals
6.4.5 Hexcel Corporation
6.4.6 Hexion
6.4.7 KANGNAM CHEMICAL
6.4.8 Kolon Industries, Inc
6.4.9 Mitsui Chemicals India Pvt. Ltd
6.4.10 Prefere Resins Holding GmbH
6.4.11 SHANDONG LAIWU RUNDA NEW MATERIAL CO.,LTD
6.4.12 SI Group, Inc.
6.4.13 Sumitomo Bakelite Co., Ltd.

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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  • BASF SE
  • Changshu South-East Plastic Co., Ltd.
  • DIC CORPORATION
  • Georgia-Pacific Chemicals
  • Hexcel Corporation
  • Hexion
  • KANGNAM CHEMICAL
  • Kolon Industries, Inc
  • Mitsui Chemicals India Pvt. Ltd
  • Prefere Resins Holding GmbH
  • SHANDONG LAIWU RUNDA NEW MATERIAL CO.,LTD
  • SI Group, Inc.
  • Sumitomo Bakelite Co., Ltd.
Note: Product cover images may vary from those shown
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