North America Phenolic Resin Market Report and Forecast 2024-2032

North America Phenolic Resin Market Size

The North America phenolic resin market 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.

Key Trends in the Market

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.

• Phenolic resin is a frequently utilised component in a variety of products, such as insulating panels, paints, varnishes, circuit boards, and building supplies. Due to their enhanced mechanical and thermal properties, phenolic resins are a logical fit for many industrial applications.

• The North America phenolic resin market is growing due to the increase in the use of phenolic resin for a huge variety of applications like moulding powders, laminating resins, adhesives, binders, surface coatings and impregnates. Phenolic resins are also in demand as they have the capability to perform better in high-temperature applications.

• The rise in the production of electronics, ballistics, mine ventilations, offshore water pipe systems, aerospace, rail and mass transit, has resulted in the North America phenolic resin market witnessing a surge. Phenolic resins are also important as binders in friction material used in cars.

• Phenolic resins are used in the timber sector where they are used in adhesives for partible boards and plywood. With the evolving furniture industry, and consistent demand for new products, the use of phenolic resins is also heightened. Phenolic resins are also used in making laminates used in interior designs preferred by the customers.

• Furthermore, phenolic resins have witnessed an escalation in demand due to the rise in manufacturing activities as they have properties like low density, low thermal conductivity, chemical resistance and are also beneficial in the production of 3D structures. They are widely used in laboratories because of their ability to handle high pressure of heat, chemicals, moisture, bacteria, with countertops made of phenolic resins preferred in laboratories.

North America Phenolic Resin Market Report Snapshots

North America Phenolic Resin Market Size

North America Phenolic Resin Market Share

North America Phenolic Resin Market Analysis

North America Phenolic Resin Companies