The Global [177 Pages report] Phenolic Resin Market was valued at 10.66 billion in 2015 and is projected to reach 15.01 billion by 2021, at a CAGR of 5.8% from 2016 to 2021. Phenolic resins are the oldest synthetic polymers obtained by the reaction of phenol and formaldehyde. They possess properties such as high mechanical strength, low toxicity, and excellent heat resistance. The various applications of phenolic resins are wood adhesives, foundry, molding, and laminates among others. In this report, 2015 is considered as the base year and the forecast period is from 2016 to 2021.

Request for PDF of report: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=177821389

Resol resin to register the highest CAGR in the global phenolic resin market, from 2016 to 2021

The global phenolic resin market is segmented by type, namely, resol resin, novolac resin, and others. The market for resol resin is expected to grow at the highest CAGR in the global phenolic resin market from 2016 to 2021. The higher CAGR for resol resin over other types is due to the rising demand from the wood adhesives, molding, and others applications. It offers advantages such as, superior heat resistance, high flexibility, mechanical strength, and moldability, and excellent friction properties.

 Molding to be the fastest growing application of the global phenolic resin market during the forecast period

The molding application is projected to be the fastest growing application in the global phenolic resin market during the forecast period mainly due the rising demand for phenolic resin in the manufacture of appliances, enclosures, housewares, and in the transportation application. The demand for molding is estimated to witness the highest CAGR in the Asia-Pacific region due to the increasing demand for phenolic molding compounds for their strengthening efficiency and providing safety from fire in automobiles.

 Asia-Pacific to be the fastest growing market for phenolic resin during the forecast period

The Asia-Pacific region phenolic resin market is expected to witness the highest CAGR from 2016 to 2021. The growing population in the Asia-Pacific region, coupled with the rising disposable incomes is driving the market for phenolic resin. In addition, increased demand for phenolic resin in key countries such as China and India, are contributing to the growth of the phenolic resin market in the region.

Currently, the global phenolic resin market is led by various market players such as, Hexion Inc. (U.S.), Hitachi Chemical Co., Ltd. (Japan), Sumitomo Bakelite Co., Ltd. (Japan), SI Group, Inc. (U.S.), DIC Corporation (Japan), BASF SE (Germany), Kolon Industries, Inc. (South Korea), Shandong Laiwu Runda New Material Co., Ltd. (China), Dujodwala Paper Chemicals Ltd. (India), and Changshu South-East Plastics Co., Ltd. (China), among others.

Early buyers will receive 10% customization on this report.

Don't miss out on business opportunities in Phenolic Resin Market.

Speak to Our Analyst and gain crucial industry insights that will help your business grow.

https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=177821389

About MarketsandMarkets

MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC. 
630 Dundee Road 
Suite 430 
Northbrook, IL 60062 
USA : 1-888-600-6441 
[email protected]