Phenolic resin market Analysis-2020

1. Phenolic Resin Market driven by the increasing consumption of molding materials Market overview: The overall size of the phenolic resin market was estimated at US$ 111.1 billion in 2018 and is predicted to grow at an annual rate of 5.3% during the forecast period from 2019 to 2025. Phenolic resins are synthetic polymers resulting from the reaction of phenol or formaldehyde substituted phenols at high temperatures. They are widely used for wood adhesives, molding compounds and laminates. The resin exhibits flame retardation, high heat resistance, high tensile strength, and low toxicity and less smoke. Recent developments: BASF SE has expanded its production capacity by 50% at its Ludwigshafen manufacturing facilities to meet the high growth in the market. Georgia Pacific Chemicals LLC and Kolon Industries Inc have expressed their intention to invest in a new phenolic resin production plant. Hitachi Chemicals has invested in a new plant in Thailand in anticipation of increased demand in the automotive sector. Market Drivers and Restraints: The main factors driving the growth of the phenolic resin market are the increase in demand in the construction and transportation industry, as well as the growing demand for fireproof materials in cars and airplanes. Strict regulations that encourage the use of light compounds in the automotive sector, and macroeconomic factors such as increased disposable income and increased demand for cars and furniture, are also having a positive impact on the growth of the phenolic resin market. Since crude oil is the primary raw material used in the production of these resins, volatility in crude oil prices is expected to slow the growth of the phenolic resin market in the future. In addition, environmental regulations on formaldehyde emissions are expected to have a negative impact on market growth, as significant investments are required to modify the production process to meet strict emission standards. To know more read: https://www.marketdataforecast.com/market-reports/phenolic-resin-market Report Segmented as: The phenolic resins market can be classified into novolac resins, resol resins, etc., depending on the type of product. The phenolic resins market can also be classified according to applications as laminates, insulation, wood adhesives, molding compounds, paper impregnations, coatings, etc. Geographical Segmentation: Regional phenolic resin markets have been categorized in North America, Europe, APAC, Latin America, the Middle East and Africa. Geographically, APAC has the largest market share during historical periods. During the forecast period, the APAC market is expected to

2. be driven by the increase in the consumption of molding materials in countries such as India and China, and the use of phenol-formaldehyde resins in the construction industry. Key market players: Major players in the global phenolic resin market include BASF SE, Chang Chun Plastics Co., Colon Industries Inc., Momentive Specialty Chemicals Inc and Hitachi Chemical Co., Ltd. View sample and decide: https://www.marketdataforecast.com/market-reports/phenolic-resin-market/request Scope of the report: The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated. The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity. What else? Apart from the syndicated report, our in-house team has an expertise and experience in designing custom reports to meet your specific research needs and assist you in making well- informed decisions. About Us: Market Data Forecast is a firm working in the areas of market research, business intelligence and research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients. For more information: Abhishek Shukla Sales Manager at Market Data Forecast Email: abhishek@marketdataforecast.com Tel: +1-888-702-9626 Website: https://www.marketdataforecast.com/