The global phenolic resins market is estimated to witness significant growth during the forecast period.
Emerging applications in automotive and transportation are one of the major factors driving the market growth. Rising focus on bio-based phenolic resins is expected to offer an opportunity for the market. Bio-oils derived from biomass including storm debris, scrap wood, and even corn stover are utilized for the development of phenol alternatives which is useful in the epoxy and wood adhesive markets.
By using fractional catalytic pyrolysis process, renewable feedstocks, including corn stover, poplar, pine, and switch grass, can be converted into high-quality phenolic materials. Such phenolic materials can replace phenolics obtained from petroleum sources in phenol/formaldehyde resins and decrease harmful environmental effects such as greenhouse gases and air emissions.
Geographically, in 2019, Asia-Pacific is estimated to witness potential growth during the forecast period owing to the expansion of electronics manufacturing and increasing construction industry in the region. As per the India Brand Equity Foundation (IBEF), production of electronics hardware in India rose from $31.13 billion in 2014 to $65.53 billion in 2019. Further, as per the Department for Promotion of Industry and Internal Trade (DPIIT), during the period, April 2000-March 2020, in the electronics sector, the inflow of foreign direct investment (FDI) stood at $2.8 billion. The increasing production of electronics products is driving the demand for phenolic resins owing to its superior heat and electrical resistance and dimensional stability.
Key players in the market include BASF SE, DIC Corp., Hexion Inc., ASK Chemicals GmbH, and Sumitomo Bakelite Co., Ltd. The market players are adopting certain strategies including mergers and acquisitions, partnerships and collaborations, and product launches, to gain a competitive advantage. For instance, in November 2019, Hexion Inc. is planning to add phenolic resin capacity as a part of its adhesive and binders business expansion at its Brimbank, Australia facility. The new capacity aims to fulfill the accelerating demand for phenolic resins. These resins can provide service in several application areas including as an element in fire-resistant cladding material for residential, commercial, and institutional applications.
The Report Covers
- Comprehensive research methodology of the global phenolic resins market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- Exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the global phenolic resins market.
- Insights about market determinants which are stimulating the global phenolic resins market.
- Detailed and extensive market segments with regional distribution of forecast revenues.
- Extensive profiles and recent developments of market players.
Key Topics Covered:
1. Report Summary
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.3. Rules & Regulations
3. Competitive Landscape
3.1. Company Share Analysis
3.2. Key Strategy Analysis
3.3. Key Company Analysis
4. Market Determinants
5. Market Segmentation
5.1. Global Phenolic Resins Market by Product Type
5.2. Global Phenolic Resins Market by Application
5.3. Global Phenolic Resins Market by End-Use Industry
6. Regional Analysis
6.1. North America
6.4. Rest of the World
7. Company Profiles
7.1. Arclin, Inc.
7.2. Ashland Global Holdings Inc.
7.3. ASK Chemicals GmbH
7.4. BASF SE
7.5. Changshu South-East Plastic Co., Ltd.
7.6. DIC Corp.
7.7. Dujodwala Paper Chemicals Ltd.
7.8. Fenolit d.d.
7.9. Hexcel Corp.
7.10. Hexion Inc.
7.11. Kangnam Chemical Co. Ltd.
7.12. Koch Industries, Inc.
7.13. KOLON Industries, Inc.
7.14. Kraton Corp.
7.15. Lerg S.A.
7.16. Mansoura for Resins & Chemical Industries Co. S.A.E.
7.17. Mitsui Chemicals, Inc.
7.18. Prefere Resins Holding GmbH
7.19. Red Avenue New Materials Group Co., Ltd.
7.20. Shandong Laiwu Runda New Material Co., Ltd.
7.21. Sumitomo Bakelite Co., Ltd.
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