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Base Year
Historical Year
Forecast Year
The North America phenolic resin market size reached a value of approximately USD 3.35 billion in 2023. The market is further expected to grow at a CAGR of 5.30% between 2024 and 2032, reaching a value of USD 5.30 billion by 2032.
North America Phenolic Resin Market Report Summary | Description | Value |
Base Year | USD Billion | 2023 |
Historical Period | USD Billion | 2018-2023 |
Forecast Period | USD Billion | 2024-2032 |
Market Size 2023 | USD Billion | 3.35 |
Market Size 2032 | USD Billion | 5.30 |
CAGR 2018-2023 | Percentage | XX% |
CAGR 2024-2032 | Percentage | 5.30% |
CAGR 2024-2032 - Market by Region | USA | 5.8% |
CAGR 2024-2032 - Market by Region | Canada | 4.8% |
CAGR 2024-2032 - Market by Application | Laminates | 6.0% |
CAGR 2024-2032 - Market by End-User | Automotive | 6.0% |
Market Share by Region | USA | XX% |
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Phenolic resins are synthetic resins that are produced by the reaction process of phenol with formaldehyde in a condensation reaction while a catalyst is present. They are categorised as thermoset polymers because they cannot be remelted like thermoplastics and cure in a different form from their uncured state. The majority of phenolic resins are opaque and black in colour. Phenolic resins are typically used in fillers due to it being brittle in nature, and are among the oldest thermosetting resins, other than polyester, urethane, melamine and epoxy.
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Based on product, the market is segmented into resol resins, and novolac resins, among others. On the basis of application, the market is divided into paper, fabric, coatings, laminates, filters, and gypsum board, among others. By country, the North America phenolic resin market is categorised into the United States and Canada.
CAGR 2024-2032 - Market by | Region |
USA | 5.8% |
Canada | 4.8% |
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the North America phenolic resin market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
Resol is a preferred phenolic resin and accounts for a sizable share in the North America phenolic resin market. They are commonly used in several end use industries as they are cost effective, have enhanced properties. and can be used in various applications. Products like exterior plywood, engineered woods, adhesives, and LCL (laminated composite lumber) are some of the applications of resol resins that are helping the North American phenolic resin market grow expeditiously. Resol resins are also widely used in the bonding and cooling of building materials. Meanwhile, the demand for novolacs in the North America phenolic resin market has increased due to its multiple uses like tire tackifier, binder for carbon bonded refractories, and as a curing agent for epoxy resins.
CAGR 2024-2032 - Market by | End-User |
Automotive | 6.0% |
Building & Construction | 5.7% |
Furniture | XX% |
Electrical & Electronics | XX% |
Others | XX% |
Laminate applications account for a significant share of the North America phenolic resin market due to their properties of being moisture resistant, lightweight, and with high dielectric strength. The furniture industry increasingly uses laminates to enhance its products, improving both the aesthetic appeal and properties of furniture products. As customers are highly focused on the interior designs of their homes, the demand for decorative and easy to maintain laminates is likely to increase further, bolstering the demand for the phenolic resin market. Phenolic resins are also commonly used in the production of paper because they are helpful in increasing the strength, stiffness, and the water resistance of paper.
CAGR 2024-2032 - Market by | Application |
Laminates | 6.0% |
Wood Adhesives | 5.7% |
Molding Compounds | 5.5% |
Coatings | XX% |
Insulation | XX% |
Others | XX% |
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Arclin, Inc., in Georgia, United States, and established in 1992, is a leading provider of resin-based systems and products. The company deals with chemicals and products like bonding agents and surface solutions for buildings. They offer a vast variety of products to choose from like furniture, flooring, building, wood working and automotive industries. Arclin also provides decorative materials for homes like melamine, laminates, and foils.
Ashland, Inc. is a provider and distributer of diversified chemical and thermoplastic resins operating from Delaware, United States. Founded in 1924, Ashland is a specialty materials company that provides services in sectors such as pharmaceuticals, construction, food, and nutraceuticals. The core business units of the company comprise of life sciences, speciality additives, intermediates, and personal care.
Akrochem Coporation, located in Akron, Ohio and founded in 1929, is a chemical distributor for the rubber industry and also provides raw materials. Akrochem offers a range of quality materials that are backed by the company’s technical expertise and innovation. They sell products like antifoams, emulsions, fire retardants, mineral fillers, sulphurs, and waxes. Akrochem also specialises in the production of rubber, plastic, paint, coatings, and lubricants.
Other market players include Sumitomo Bakelite North America Holding, Inc., DIC Corporation, Capital Resin Corporation, SI Group, Inc., LRBG Chemical, Inc., and Bakelite Synthetics Group, among others.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Product |
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Trade Data Analysis |
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Competitive Landscape |
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Companies Covered |
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North America Phenolic Resin Market Size
North America Phenolic Resin Market Share
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the market reached an approximate value of USD 3.35 billion.
The market is expected to grow at a CAGR of 5.30% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 5.30 billion by 2032.
The major market drivers are the increasing usage of phenolic resins in various end-user industries, growing demand for laminates, and rising production of automotive filters with phenolic resins.
The key trends of the market include rising demand for decorative furnishings, technological advancements in phenolic resin, growing construction sector in the region, and increasing use in making circuit boards.
Phenolic resins are thermoset polymers that are synthesised by the reaction of phenol with formaldehyde.
The primary phenolic resin products are resol resins, and novolac resins, among others.
The various applications of the phenolic resin market in North America include paper, fabric, coatings, laminates, filters, and gypsum board, among others.
The major countries in the phenolic resin market in North America are the United States and Canada.
The key market players in North America phenolic resin market, according to the report, are Sumitomo Bakelite North America Holding, Inc., Arclin, Inc., DIC Corporation, Capital Resin Corporation, Ashland Inc., SI Group, Inc, LRBG Chemical, Inc., Akrochem Corporation, and Bakelite Synthetics Group, among others.
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India
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Philippines
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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