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Report Overview
The global phenolic resin market reached a value of USD 14.11 Billion in 2024. The market is expected to grow at a CAGR of 4.60% in the forecast period of 2025-2034 to attain a value of USD 22.12 Billion by 2034.
2024
Base Year
2018-2024
Historical Year
2025-2034
Forecast Year
Compound Annual Growth Rate
Value in USD Billion
4.6%
2025-2034
Phenolic Resin Market Outlook
*this image is indicative*
| Global Phenolic Resin Market Report Summary | Description | Value |
| Base Year | USD Billion | 2024 |
| Historical Period | USD Billion | 2018-2024 |
| Forecast Period | USD Billion | 2025-2034 |
| Market Size 2024 | USD Billion | 14.11 |
| Market Size 2034 | USD Billion | 22.12 |
| CAGR 2018-2024 | Percentage | XX% |
| CAGR 2025-2034 | Percentage | 4.60% |
| CAGR 2025-2034 - Market by Region | Asia Pacific | 5.3% |
| CAGR 2025-2034 - Market by Country | India | 6.1% |
| CAGR 2025-2034 - Market by Country | China | 5.1% |
| CAGR 2025-2034 - Market by Type | Resol Resin | 5.2% |
| CAGR 2025-2034 - Market by End Use | Electric and Electronics | 5.4% |
| Market Share by Country 2024 | UK | 3.4% |
The Asia Pacific Presents Significant Growth Opportunities for the Global Market for Phenolic Resin
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: Market Segmentation
The EMR’s report titled “Phenolic Resin Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
- Resol Resin
- Novolac Resin
- Others
Market Breakup by Application
- Wood Adhesives
- Moulding
- Insulation
- Laminates
- Paper Impregnation
- Coatings
- Others
Market Breakup by End Use
- Automotive
- Building and Construction
- Furniture
- Electric and Electronics
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Purchase the Regional Overview for
USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
Purchase the Regional Overview for
USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
Purchase the Regional Overview for
USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
| CAGR 2025-2034 - 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% |
Extensive Applications of the Product to Aid the Global Market Growth of Phenolic Resin
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.
Key Industry Players in the Global Phenolic Resin Market
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:
- Ashland Global Holdings Inc.
- DIC Corporation
- Hexcel Corporation
- Kolon Industries Inc.
- Hitachi Chemical Co., Ltd.
- Sumitomo Bakelite Co., Ltd.
- Others
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.
*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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Key Questions Answered in the Report
In 2024, the global phenolic resin market attained a value of nearly USD 14.11 Billion.
The market is projected to grow at a CAGR of 4.60% between 2025 and 2034.
The market is estimated to witness a healthy growth in the forecast period of 2025-2034 to reach about USD 22.12 Billion by 2034.
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.
Report Summary
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2024 |
| Historical Period | 2018-2024 |
| Forecast Period | 2025-2034 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by Application |
|
| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
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