Phenolic Resin Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2025-2034)

The global phenolic resin market reached a value of USD 14.11 Billion in 2024. The market is expected to grow at a CAGR of 4.60% in the forecast period of 2025-2034 to attain a value of USD 22.12 Billion by 2034.

The Asia-Pacific Presents Significant Growth Opportunities for the Global Market for Phenolic Resin

The market for phenolic resin is being driven by the growing demand from the Asia-Pacific region. It is expected to grow rapidly owing to the strong economic scenario, in conjunction with considerable investment in industries like furniture, automotive, building and development, and electrical and electronics. The Asia-Pacific region exhibits potential growth over the forecast period.

The ongoing growth in the production of such products in the region, as well as their export, is instrumental in the industry growth. Due to economic contraction and saturation within Europe and North America, the demand has shifted to the Asia-Pacific region. The region is attracting several manufacturers, due to its strong market hold. China is a significant producer as well as consumer of phenolic resin within the Asia-Pacific.

Phenolic Resin: Market Segmentation

The report titled “Phenolic Resin Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Resol Resin
• Novolac Resin
• Others

Market Breakup by Application

• Wood Adhesives
• Moulding
• Insulation
• Laminates
• Paper Impregnation
• Coatings
• Others

Market Breakup by End Use

• Automotive
• Building and Construction
• Furniture
• Electric and Electronics
• Others

Market Breakup by Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Extensive Applications of the Product to Aid the Global Market Growth of Phenolic Resin

The market for phenolic resin is aided by the product’s thermosetting features that attract various manufacturers because of its extensive applications. The increasing demand for plastics that exhibit qualities such as strength, high thermal resistance, and fire-resistant properties, has shot up the adoption rate of phenolic resins in the recent years. The market is expanding rapidly owing to its adoption for various purposes in forest products, and in refractories, friction, moulding, abrasive, and rubber processing. The aforementioned factors are expected to enhance the market growth over the forecast period.

Key Industry Players in the Global Phenolic Resin Market

The report gives a detailed analysis of the following key players in the global phenolic resin market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Ashland Global Holdings Inc.
• DIC Corporation
• Hexcel Corporation
• Kolon Industries Inc.
• Hitachi Chemical Co., Ltd.
• Sumitomo Bakelite Co., Ltd.
• Others

The comprehensive report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.