Global Phenolic Boards Market Report and Forecast 2024-2032

Global Phenolic Boards Market Outlook

The global phenolic boards market is expected to grow at a CAGR of 2.9% between 2024 and 2032. Major drivers of the market are growth in the construction industry and increase in demand for materials that are sustainable. 

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Key Trends in the Market

Phenolic boards, also termed as phenolic panels, are boards made up of wooden sheets that are tough and stable with high density thermosetting cellulose fabrics. The surface of phenolic prevents cracking and splitting from attachments. Phenolic board is made durable by putting together several layers of paper, cotton, or glass fabric mix under heat and pressure thereby filling in synthetic raisin.

• Rapid increase in the population and urbanisation is promoting the construction process which is ultimately helping in the surge of the phenolic boards market globally.

• Producers are adopting new methods of production including organic as well as inorganic growth techniques to fulfil the demands of the consumers and end-use industries.

• Plywood is lower in cost when compared to phenolic boards due to which it is still preferred by many end-users. This reason may hold back the growth of the global phenolic boards market, and encourage suppliers to develop low-cost phenolic boards.

Market Analysis

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Based on application, the market can be segmented into interior, exterior, insulation panels, furniture, and others. On the basis of thickness, it can be bifurcated into less than 40 mm and more than 40 mm. The market can be divided based on end use into residential, commercial and industrial. The regional markets can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. 

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 global phenolic boards market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans. 

• Spigo Group

• Kingspan Group

• Asahi Kasei Corporation

• LX Hausys, Ltd.

• SAVI CO., LTD

• Changzhou Zhongtian Fireproof Decorative Sheets Co., Ltd.

• Yalong Wood Co., Ltd.

• UNILIN Insulation

• Fiberisin Industries 

• Others

Market Share by Application

Phenolic boards are commonly used in construction processes. Exterior uses of phenolic boards include balcony or shade creation to prevent sun while interiorly they are used to partition rooms or bathrooms and as a wall lining. Insulation panels are used for floors, roofs, and walls and phenolic boards also find application in building wooden objects. With these uses, the phenolic boards market is expected to grow efficiently.

Market Share by End Use

Be it industrial buildings or residential or commercial, all of them use phenolic boards in their construction process due to its stability and durability. Buildings are typically created to last for the long-term, hence require durable and tough materials in the construction process. This again contributes to the growth of the global phenolic boards market.

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Competitive Landscape

Spigo Group founded in 2006 has its headquarters in Spain and involves engineers, distributors, architects, wholesalers, and final consumers. It develops products that are mainly used for construction such as doors and phenolic carpentries.

Kingspan Group was established in 1966 with headquarters in Ireland. It is a global leader in developing building solutions with net-zero emissions to achieve a sustainable future.

Asahi Kasei Corporation, founded in May 1922, aims to meet the needs of the people that keep changing with time and provide them with the best quality products required for daily use at a reasonable price. 

Other market players include LX Hausys, Ltd., SAVI CO., LTD, Changzhou Zhongtian Fireproof Decorative Sheets Co., Ltd., Yalong Wood Co., Ltd., Langfang Sanxing Chemical Industry Co., Ltd., UNILIN Insulation, and Fiberisin Industries, among others.

Key Highlights of the Report