LONDON--(BUSINESS WIRE)--The phenolic resin market is expected to grow by USD 4.56 billion during 2020-2024, according to Technavio. The report offers a detailed analysis of the impact of COVID-19 pandemic on the phenolic resin market in optimistic, probable, and pessimistic forecast scenarios.
The phenolic resin market will witness Neutral and At par impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio’s pandemic-focused market research, market growth is likely to Increase as compared to 2019.
Enterprises will go through Respond, Recover and Renew phases. Download free report sample
With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through respond, recover and renew phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis and towards the Next Normal.
This post-pandemic business planning research will aid clients to:
- Adjust their strategic planning to move ahead once business stability kicks in.
- Build Resilience by making effective resource and investment choices for individual business units, products and service lines.
- Conceptualize scenario-based planning to mitigate future crisis situations.
Download the Post-Pandemic Business Planning Structure. Click here
Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
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Major Three Phenolic Resin Market Participants:
Ashland Global Holdings Inc.
Ashland Global Holdings Inc. operates its business under specialty ingredients and intermediates and solvents segments. The company manufactures phenolic resins under the brand name Arofene phenolic resins, which are used as media saturants, providing heat and water resistance as well as other specialized properties. These are also used as prepreg resins for laminating applications, base resins or fortifiers, and as adhesives or resin used to adhere sizing to paper in abrasive applications.
BASF SE operates its business under seven segments, which include chemicals, materials, industrial solutions, surface technologies, nutrition & care, agricultural solutions, and other. The company manufactures phenolic resin under the brand name Koresin. This branded product is a process aid for premium tire manufacturing. Apart from car and truck tires, this product is also used to manufacture aircraft tires and agricultural vehicle tires. Other applications include abrasion-resistant belt conveyors that are used in heavy loads
DIC Corp. has business operations under various segments, namely packaging & graphic, color & display, and functional products. The company manufactures phenolic resins that are used as adhesives, binders, and reinforcement agents for various base materials.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Get report snapshot here to get detailed market share analysis of market participants during COVID-19 lockdown: https://www.technavio.com/report/ phenolic resin market-industry-analysis
Phenolic Resin Market 2020-2024: Segmentation
Phenolic Resin is segmented as below:
- Wood adhesives
- North America
- South America
The phenolic resin market is driven by the advantages of phenolic resins. In addition, other factors such as growing building and construction activities is expected to trigger phenolic resin market toward witnessing a CAGR of over 6% during the forecast period.
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- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.