According to a new report published by Transparency
Market Research "Phenolic Resins (Resol, Novolac and Others) Market for
Wood-adhesives, Molding Compounds, Laminates, Insulation and Other Applications
- Global Industry Analysis, Size, Share, Growth,Trends and Forecast, 2013 -
2019", the global demand for the phenolic resins was valued at USD 9.19
billion in 2012 and is expected to reach USD 13.36 billion in 2019, growing at
a CAGR of 5.6% between 2013 and 2019.
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full Phenolic Resins Market Report at
Demand from the automotive sector is one of the
primary drivers of the phenolic resins market. Molding compounds are in demand
from the automotive sector, as they amplify vehicle efficiency , and promotes
fire-safety. Molding compounds are employed to manufacture various parts in an
automotive such as suspension, seats and bottom plate. Automotive industry also
accounts for the indirect demand of phenolic resins derived from the tire
industry. However, the volatility of crude oil price remains a thorn in the
flesh for this market, as it is dependent on crude oil for its feed-stock.
Moreover environmental regulations regarding formaldehyde emissions is a
restraint to this industry, and investments have to be made to conform to
environmental emission standards.The revival of construction industry in the
US, along with the growth in the Asia-pacific region is an opportunity for the
market, as phenolic resins are extensively used in the wood-adhesive market as
well as the laminates market which are directly related to the construction
industry growth. New technologies such as nano-technology has the ability to
expand applications for phenolic resins by improving the structural and
functional attributes of phenlic resins.
The growing demand for phenolic molding compounds
from automotive industry has been a major driving factor for the growth of the
phenolic resins market. The demand for compact and fuel efficient, utility
vehicles in emerging economies as well as the developed economies have driven
phenolic resins consumption in this sector.
Resol resins was the largest product segment for
optical coatings accounting for over 48% of the overall demand for phenolic
resins. Novolac resins was a close second in terms of global demand. The demand
for resol resins is high owing to its application in the wood-adhesives and
laminates industry.
Wood-adhesive was the largest application segment
for phenolic resins in 2012 and accounted for over 34% of the global demand for
phenolic resins. The industry is likely to account for the highest share of
phenolic resins consumtion in future. However laminates and molding compounds
are the fastest growing application segments of phenolic resins..
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Asia Pacific followed by the North America region
dominated the global demand for phenolic resins in 2012. The trend is expected
to continue during the forecast period. Asia Pacific is expected to exhibit
strong growth owing to the presence of manufacturing economies with increasing
human development index. Rest of the World segment on the other hand is
expected to display the fastest growth rate, owing to the enormous growth
opportunities and limited market share.
The report gives an in-depth analysis of the
phenolic resins market in terms of volume (kilo tons) and revenue (USD
million). In addition, the report also includes current demand analysis and
forecast for each product and application segments for both global and regional
level. The regions analyzed include North America, Europe, Asia Pacificand Rest
of the World. The report comprises of the following segments:
Phenolic
Resins Market: Product Segment Analysis
- Resol resins
- Novolac resins
- Others (Bio-phenolic resins, cresol novolac,
formaldehyde-free phenolic resins etc.)
Phenolic
Resins Market: Application Analysis
- Wood-adhesives
- Molding compounds
- Laminates
- Insulation
- Others (Abrasives, friction materials, etc.)
Phenolic
Resins Market: Regional Analysis
- North America
- Europe
- Asia-Pacific
- Rest of the World
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