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North America Phenolic Resin Market Share, Size, Trends: By Product: Resol Resins, Novolac Resins, Others; By Application: Paper, Fabric, Coatings, Laminates, Filters, Gypsum Board, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key indicators for Demand; Competitive Landscape; 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
*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.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 North America
6.2 Country
7 Opportunities and Challenges in the Market
8 North America Phenolic Resin Market Analysis
8.1 Key Industry Highlights
8.2 North America Phenolic Resin Historical Market (2018-2023)
8.3 North America Phenolic Resin Market Forecast (2024-2032)
8.4 North America Phenolic Resin Market by Product
8.4.1 Resol Resins
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Novolac Resins
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.3 Others
8.5 North America Phenolic Resin Market by Application
8.5.1 Paper
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Fabric
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 Coatings
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2023)
8.5.3.3 Forecast Trend (2024-2032)
8.5.4 Laminates
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2023)
8.5.4.3 Forecast Trend (2024-2032)
8.5.5 Filters
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2023)
8.5.5.3 Forecast Trend (2024-2032)
8.5.6 Gypsum Board
8.5.6.1 Market Share
8.5.6.2 Historical Trend (2018-2023)
8.5.6.3 Forecast Trend (2024-2032)
8.5.7 Others
8.6 North America Phenolic Resin Market by Country
8.6.1 United States
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.2 Canada
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2024-2032)
9 Market Dynamics
9.1 SWOT Analysis
9.1.1 Strengths
9.1.2 Weaknesses
9.1.3 Opportunities
9.1.4 Threats
9.2 Porter’s Five Forces Analysis
9.2.1 Supplier’s Power
9.2.2 Buyer’s Power
9.2.3 Threat of New Entrants
9.2.4 Degree of Rivalry
9.2.5 Threat of Substitutes
9.3 Key indicators for Demand
9.4 Key indicators for Price
10 Value Chain Analysis
11 Price Analysis
12 Trade Data Analysis (HS Code: 390940)
12.1 Major Exporting Countries
12.1.1 By Value
12.1.2 By Volume
12.2 Major Importing Countries
12.2.1 By Value
12.2.2 By Volume
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 Sumitomo Bakelite North America Holding, Inc.
13.2.1.1 Company Overview
13.2.1.2 Product Portfolio
13.2.1.3 Demographic Reach and Achievements
13.2.1.4 Certifications
13.2.2 Arclin, Inc.
13.2.2.1 Company Overview
13.2.2.2 Product Portfolio
13.2.2.3 Demographic Reach and Achievements
13.2.2.4 Certifications
13.2.3 DIC Corporation
13.2.3.1 Company Overview
13.2.3.2 Product Portfolio
13.2.3.3 Demographic Reach and Achievements
13.2.3.4 Certifications
13.2.4 Capital Resin Corporation
13.2.4.1 Company Overview
13.2.4.2 Product Portfolio
13.2.4.3 Demographic Reach and Achievements
13.2.4.4 Certifications
13.2.5 Ashland Inc.
13.2.5.1 Company Overview
13.2.5.2 Product Portfolio
13.2.5.3 Demographic Reach and Achievements
13.2.5.4 Certifications
13.2.6 SI Group, Inc.
13.2.6.1 Company Overview
13.2.6.2 Product Portfolio
13.2.6.3 Demographic Reach and Achievements
13.2.6.4 Certifications
13.2.7 LRBG Chemicals Inc.
13.2.7.1 Company Overview
13.2.7.2 Product Portfolio
13.2.7.3 Demographic Reach and Achievements
13.2.7.4 Certifications
13.2.8 Akrochem Corporation
13.2.8.1 Company Overview
13.2.8.2 Product Portfolio
13.2.8.3 Demographic Reach and Achievements
13.2.8.4 Certifications
13.2.9 Bakelite Synthetics Group
13.2.9.1 Company Overview
13.2.9.2 Product Portfolio
13.2.9.3 Demographic Reach and Achievements
13.2.9.4 Certifications
13.2.10 Others
14 Key Trends and Developments in the Market
List of Key Figures and Tables
1. North America Phenolic Resin Market: Key Industry Highlights, 2018 and 2032
2. North America Phenolic Resin Historical Market: Breakup by Product (USD Million), 2018-2023
3. North America Phenolic Resin Market Forecast: Breakup by Product (USD Million), 2024-2032
4. North America Phenolic Resin Historical Market: Breakup by Application (USD Million), 2018-2023
5. North America Phenolic Resin Market Forecast: Breakup by Application (USD Million), 2024-2032
6. North America Phenolic Resin Historical Market: Breakup by Country (USD Million), 2018-2023
7. North America Phenolic Resin Market Forecast: Breakup by Country (USD Million), 2024-2032
8. Major Exporting Countries by Value
9. Major Importing Countries by Value
10. Major Exporting Countries by Volume
11. Major Importing Countries by Volume
12. North America Phenolic Resin Market Structure
Key Questions Answered in the Report
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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