Base Year
Historical Year
Forecast Year
The global phenolic resin market reached a value of USD 14.11 billion in 2023. The market is expected to grow at a CAGR of 4.6% in the forecast period of 2024-2032 to attain a value of USD 21.12 billion by 2032.
| Global 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 | 14.11 |
| Market Size 2032 | USD Billion | 21.12 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 4.6% |
| CAGR 2024-2032 - Market by Region | Asia Pacific | 5.3% |
| CAGR 2024-2032 - Market by Country | India | 6.1% |
| CAGR 2024-2032 - Market by Country | China | 5.1% |
| CAGR 2024-2032 - Market by Type | Resol Resin | 5.2% |
| CAGR 2024-2032 - Market by End Use | Electric and Electronics | 5.4% |
| Market Share by Country 2023 | UK | 3.4% |
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The market for phenolic resin is being driven by the growing demand from the Asia Pacific region. It is expected to grow rapidly owing to the strong economic scenario, in conjunction with considerable investment in industries like furniture, automotive, building and development, and electrical and electronics. The Asia Pacific region exhibits potential growth over the forecast period. The ongoing growth in the production of such products in the region, as well as their export, is instrumental in the industry growth. Due to economic contraction and saturation within Europe and North America, the demand has shifted to the Asia Pacific region. The region is attracting several manufacturers, due to its strong market hold. China is a significant producer as well as consumer of phenolic resin within the Asia Pacific.
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Phenolic resin refers to the thermosetting plastics that have an extensive range of applications. These plastics exhibit strength, high thermal resistance, and fire-resistant properties.
On the basis of type, the market is divided into:
Resol resin is divided on the basis of type into liquid and solid.
Based on application, the industry can be segmented into:
On the basis of end use, the market is categorised into:
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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| CAGR 2024-2032 - Market by | Country |
| India | 6.1% |
| China | 5.1% |
| Canada | 4.3% |
| Germany | 3.8% |
| Italy | 3.2% |
| USA | XX% |
| UK | XX% |
| France | XX% |
| Japan | 3.2% |
| Australia | XX% |
| Saudi Arabia | XX% |
| Brazil | XX% |
| Mexico | XX% |
The market for phenolic resin is aided by the product’s thermosetting features that attract various manufacturers because of its extensive applications. The increasing demand for plastics that exhibit qualities such as strength, high thermal resistance, and fire-resistant properties, has shot up the adoption rate of phenolic resins in the recent years. The market is expanding rapidly owing to its adoption for various purposes in forest products, and in refractories, friction, moulding, abrasive, and rubber processing. The aforementioned factors are expected to enhance the market growth over the forecast period.
The report gives a detailed analysis of the following key players in the global phenolic resin market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
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.
| 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 Type |
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| Breakup by Application |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*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 global phenolic resin market attained a value of nearly USD 14.11 billion.
The market is projected to grow at a CAGR of 4.6% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 21.12 billion by 2032.
The major drivers of the industry, such as rising disposable incomes, increasing population, rising demand for plastics, product’s thermosetting features, and growing investments in furniture, automotive, building and development, and electrical and electronics sectors, are expected to aid the market growth.
The key trends guiding the growth of the market include the rising adoption of the product for various purposes in forest products, and in refractories, friction, moulding, abrasive, and rubber processing.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading types of phenolic resin in the market are resol resin and novolac resin, among others.
The major application segments in the industry are wood adhesives, moulding, insulation, laminates, paper impregnation, and coatings, among others.
The significant end use sectors in the market are automotive, building and construction, furniture, and electric and electronics, among others.
The major players in the industry are Ashland Global Holdings Inc., DIC Corporation, Hexcel Corporation, Kolon Industries Inc., Hitachi Chemical Co., Ltd., and Sumitomo Bakelite Co., Ltd., among others.
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+91-858-608-1494
Philippines
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+63 287899028, +63 967 048 3306
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United States (Head Office)
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+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
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 287899028, +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
+84865399124
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