Phenolic Resins Market
Global Phenolic Resins Market Size, Share & Trends Analysis Report, By Product Type (Novolac, Resol, and Others), By Application (Adhesive, Molding, Insulation, Coatings, Laminates, and Others), By End-Use Industry (Automotive and Transportation, Aerospace and Defense, Building and Construction, Electrical and Electronics, Consumer Goods, and Others) and Forecast, 2020-2026
The global phenolic resins market is estimated to grow at a CAGR of nearly 5.6% during the forecast period. The major factors encouraging the market growth include superior properties of phenolic resins and a significant rise in applications across automotive and building and construction industry. Phenolic resins contain several desirable properties including superior mechanical strength, dimensional stability, and heat resistance. In addition, it offers high resistance against several acids, solvents, and water. Phenolic resin is a part of thermoset resins that are considered as critical components of high-performance coatings, adhesives, composites, and prepregs. Thermoset resins are regarded as rigid polymeric materials resistant to higher temperatures compared to ordinary thermoplastics.
As a result, phenolic resins possess superior properties including high-temperature stability up to 300–350°C, good friction properties, high chemical stability, low smoke and toxicity emissions, and excellent fire retardance. Polyoxybenzylmethylenglycolanhydride or Bakelite is a type of phenolic resin, which is utilized in mass transit and ducting. The electrical and aerospace and defense industries are applying phenolic resins owing to its beneficial properties such as excellent dimensional stability and high heat resistance. The applications of phenolic molding compound across these sectors comprise business equipment, wiring devices, electrical commutators, and switches. The significant potential of phenolic resins has led its applications in end-use industry, which in turn, is contributing to the growth of the market.
Market Segmentation
The global phenolic resins market is segmented into product type, application, and end-use industry. Based on product type, the market is segmented into novolac, resol, and others. Based on application, the market is segmented into adhesives, molding, insulation, coatings, laminates, and others. Based on end-use industry, the market is segmented into automotive and transportation, building and construction, electrical and electronics, consumer goods, and others.
Novolac Accounts for a Significant Share in the Market
Novolac-based materials have a major significance owing to their good flame resistance and good mechanical properties. These are highly attributed owing to their aromatic structures and the inhibiting effect of their phenolic compounds. Novolac is used in the production of casting and electric material. Further, novolac resins are utilized in the rubber industry for adhesion support and reinforcement. Novolac offer a superior alternative for resorcinol in the rubber products including for tires. It enables to improve adhesion and reinforce rubber structures, plus they can be utilized in a comprehensive range of rubbers including natural, styrene-butadiene, nitrile, and ethylene propylene diene monomer (EPDM) rubber. These rubber products have applications in rail, cars, mass transit, trucks, and aircraft.
Global Phenolic Resins Market Share by Product Type, 2019 (%)
Regional Outlook
In 2019, Asia-Pacific is estimated to hold a potential share in the market during the forecast period owing to the significant rise in the production of vehicles and electronic products in the region. China is the major provider of electronic products across the globe, which has primarily led its global trade operations. China exports a large number of electronic components that are utilized in televisions and smartphones. The country exports all major electronic parts, including mobile displays, LED chips, printed circuit boards, memory, capacitors, and open-cell TV panels.
Further, the Indian government has placed electronics manufacturing on high priority coupled with a key focus on initiatives including Make in India, Digital India, and supportive foreign direct investment (FDI) policies to boost electronic production. The increasing focus on electronics manufacturing has escalated the demand for phenolic resins for electrical laminate applications, as it holds properties such as superior high heat and moisture resistance, and better copper adhesion.
Global Phenolic Resins Market Growth, by Region 2020-2026
Market Players Outlook
Some prominent players in the market include BASF SE, DIC Corp., Hexion Inc., ASK Chemicals GmbH, and Sumitomo Bakelite Co., Ltd. Product launches, mergers and acquisitions, and partnerships and collaborations are some crucial strategies adopted by the market players to expand market share and gain a competitive advantage. For instance, in July 2019, ASK Chemicals entered into a definitive agreement to acquire SI Group’s industrial resin business and associated production sites in Johannesburg and Durban (South Africa), Rio Claro (Brazil), and Ranjangaon (India), as well as licensed technology and multiple tolling agreements across the globe.
This acquisition will enable ASK Chemicals to strengthen its position in the foundry market and simultaneously reinforce its non-foundry business. The industrial resin business of SI Group serves a comprehensive range of markets and applications including paper impregnation, foundry, insulation, friction, refractory, abrasives, and composites. Apart from foundry business, this acquisition will enable ASK to take an initial step to build a phenolic industrial resins business, which is a striking market with promising growth opportunities.
The Report Covers
- Market value data analysis of 2019 and forecast to 2026.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global phenolic resins market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Geography
1.2.3. By Stakeholders
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
2.3. Rules & Regulations
3. Competitive Landscape
3.1. Company Share Analysis
3.2. Key Strategy Analysis
3.3. Key Company Analysis
3.3.1. BASF SE
3.3.1.1. Overview
3.3.1.2. Financial Analysis
3.3.1.3. SWOT Analysis
3.3.1.4. Recent Developments
3.3.2. DIC Corp.
3.3.2.1. Overview
3.3.2.2. Financial Analysis
3.3.2.3. SWOT Analysis
3.3.2.4. Recent Developments
3.3.3. Hexion Inc.
3.3.3.1. Overview
3.3.3.2. Financial Analysis
3.3.3.3. SWOT Analysis
3.3.3.4. Recent Developments
3.3.4. ASK Chemicals GmbH
3.3.4.1. Overview
3.3.4.2. Financial Analysis
3.3.4.3. SWOT Analysis
3.3.4.4. Recent Developments
3.3.5. Sumitomo Bakelite Co., Ltd.
3.3.5.1. Overview
3.3.5.2. Financial Analysis
3.3.5.3. SWOT Analysis
3.3.5.4. Recent Developments
4. Market Determinants
4.1 Motivators
4.2 Restraints
4.3 Opportunities
5. Market Segmentation
5.1. Global Phenolic Resins Market by Product Type
5.1.1. Novolac
5.1.2. Resol
5.1.3. Others
5.2. Global Phenolic Resins Market by Application
5.2.1. Adhesive
5.2.2. Molding
5.2.3. Insulation
5.2.4. Coatings
5.2.5. Laminates
5.2.6. Others
5.3. Global Phenolic Resins Market by End-Use Industry
5.3.1. Automotive and Transportation
5.3.2. Aerospace and Defense
5.3.3. Building and Construction
5.3.4. Electrical and Electronics
5.3.5. Consumer Goods
5.3.6. Others
6. Regional Analysis
6.1. North America
6.1.1. United States
6.1.2. Canada
6.2. Europe
6.2.1. UK
6.2.2. Germany
6.2.3. Italy
6.2.4. Spain
6.2.5. France
6.2.6. Rest of Europe
6.3. Asia-Pacific
6.3.1. China
6.3.2. India
6.3.3. Japan
6.3.4. Rest of Asia-Pacific
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.
1. GLOBAL PHENOLIC RESINS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2019-2026 ($ MILLION)
2. GLOBAL NOVOLAC RESINS MARKET RESEARCH AND ANALYSIS BY REGION, 2019-2026 ($ MILLION)
3. GLOBAL RESOL RESINS MARKET RESEARCH AND ANALYSIS BY REGION, 2019-2026 ($ MILLION)
4. GLOBAL OTHER PHENOLIC RESINS MARKET RESEARCH AND ANALYSIS BY REGION, 2019-2026 ($ MILLION)
5. GLOBAL PHENOLIC RESINS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2019-2026 ($ MILLION)
6. GLOBAL PHENOLIC RESINS FOR ADHESIVE MARKET RESEARCH AND ANALYSIS BY REGION, 2019-2026 ($ MILLION)
7. GLOBAL PHENOLIC RESINS FOR MOLDING MARKET RESEARCH AND ANALYSIS BY REGION, 2019-2026 ($ MILLION)
8. GLOBAL PHENOLIC RESINS FOR INSULATION MARKET RESEARCH AND ANALYSIS BY REGION, 2019-2026 ($ MILLION)
9. GLOBAL PHENOLIC RESINS FOR COATINGS MARKET RESEARCH AND ANALYSIS BY REGION, 2019-2026 ($ MILLION)
10. GLOBAL PHENOLIC RESINS FOR LAMINATES MARKET RESEARCH AND ANALYSIS BY REGION, 2019-2026 ($ MILLION)
11. GLOBAL PHENOLIC RESINS FOR OTHER APPLICATIONS MARKET RESEARCH AND ANALYSIS BY REGION, 2019-2026 ($ MILLION)
12. GLOBAL PHENOLIC RESINS MARKET RESEARCH AND ANALYSIS BY END-USE INDUSTRY, 2019-2026 ($ MILLION)
13. GLOBAL PHENOLIC RESINS IN AUTOMOTIVE AND TRANSPORTATION MARKET RESEARCH AND ANALYSIS BY REGION, 2019-2026 ($ MILLION)
14. GLOBAL PHENOLIC RESINS IN AEROSPACE AND DEFENSE MARKET RESEARCH AND ANALYSIS BY REGION, 2019-2026 ($ MILLION)
15. GLOBAL PHENOLIC RESINS IN BUILDING AND CONSTRUCTION MARKET RESEARCH AND ANALYSIS BY REGION, 2019-2026 ($ MILLION)
16. GLOBAL PHENOLIC RESINS IN ELECTRICAL AND ELECTRONICS MARKET RESEARCH AND ANALYSIS BY REGION, 2019-2026 ($ MILLION)
17. GLOBAL PHENOLIC RESINS IN CONSUMER GOODS MARKET RESEARCH AND ANALYSIS BY REGION, 2019-2026 ($ MILLION)
18. GLOBAL PHENOLIC RESINS IN END-USE INDUSTRIES MARKET RESEARCH AND ANALYSIS BY REGION, 2019-2026 ($ MILLION)
19. GLOBAL PHENOLIC RESINS MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2019-2026 ($ MILLION)
20. NORTH AMERICAN PHENOLIC RESINS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2019-2026 ($ MILLION)
21. NORTH AMERICAN PHENOLIC RESINS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2019-2026 ($ MILLION)
22. NORTH AMERICAN PHENOLIC RESINS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2019-2026 ($ MILLION)
23. NORTH AMERICAN PHENOLIC RESINS MARKET RESEARCH AND ANALYSIS BY END-USE INDUSTRY, 2019-2026 ($ MILLION)
24. EUROPEAN PHENOLIC RESINS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2019-2026 ($ MILLION)
25. EUROPEAN PHENOLIC RESINS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2019-2026 ($ MILLION)
26. EUROPEAN PHENOLIC RESINS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2019-2026 ($ MILLION)
27. EUROPEAN PHENOLIC RESINS MARKET RESEARCH AND ANALYSIS BY END-USE INDUSTRY, 2019-2026 ($ MILLION)
28. ASIA-PACIFIC PHENOLIC RESINS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2019-2026 ($ MILLION)
29. ASIA-PACIFIC PHENOLIC RESINS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2019-2026 ($ MILLION)
30. ASIA-PACIFIC PHENOLIC RESINS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2019-2026 ($ MILLION)
31. ASIA-PACIFIC PHENOLIC RESINS MARKET RESEARCH AND ANALYSIS BY END-USE INDUSTRY, 2019-2026 ($ MILLION)
32. REST OF THE WORLD PHENOLIC RESINS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2019-2026 ($ MILLION)
33. REST OF THE WORLD PHENOLIC RESINS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2019-2026 ($ MILLION)
34. REST OF THE WORLD PHENOLIC RESINS MARKET RESEARCH AND ANALYSIS BY END-USE INDUSTRY, 2019-2026 ($ MILLION)
1. GLOBAL PHENOLIC RESINS MARKET SHARE BY PRODUCT TYPE, 2019 VS 2026 (%)
2. GLOBAL PHENOLIC RESINS MARKET SHARE BY APPLICATION, 2019 VS 2026 (%)
3. GLOBAL PHENOLIC RESINS MARKET SHARE BY END-USE INDUSTRY, 2019 VS 2026 (%)
4. GLOBAL PHENOLIC RESINS MARKET SHARE BY GEOGRAPHY, 2019 VS 2026 (%)
5. US PHENOLIC RESINS MARKET SIZE, 2019-2026 ($ MILLION)
6. CANADA PHENOLIC RESINS MARKET SIZE, 2019-2026 ($ MILLION)
7. UK PHENOLIC RESINS MARKET SIZE, 2019-2026 ($ MILLION)
8. FRANCE PHENOLIC RESINS MARKET SIZE, 2019-2026 ($ MILLION)
9. GERMANY PHENOLIC RESINS MARKET SIZE, 2019-2026 ($ MILLION)
10. ITALY PHENOLIC RESINS MARKET SIZE, 2019-2026 ($ MILLION)
11. SPAIN PHENOLIC RESINS MARKET SIZE, 2019-2026 ($ MILLION)
12. ROE PHENOLIC RESINS MARKET SIZE, 2019-2026 ($ MILLION)
13. INDIA PHENOLIC RESINS MARKET SIZE, 2019-2026 ($ MILLION)
14. CHINA PHENOLIC RESINS MARKET SIZE, 2019-2026 ($ MILLION)
15. JAPAN PHENOLIC RESINS MARKET SIZE, 2019-2026 ($ MILLION)
16. REST OF ASIA-PACIFIC PHENOLIC RESINS MARKET SIZE, 2019-2026 ($ MILLION)
17. REST OF THE WORLD PHENOLIC RESINS MARKET SIZE, 2019-2026 ($ MILLION)
