According to a new market report published by Lucintel, the future of the phenolic resin market is attractive with opportunities in the wood adhesive, molding compound, laminate, insulation, paper impregnation, and coating applications. The phenolic resin market is expected to reach an estimated $14.53 billion by 2024 and it is forecast to grow at a CAGR of 5.1% from 2019 to 2024. The major drivers for growth in this market are increasing use of materials with fire retardant, heat resistant, and anti-corrosive properties in end use applications.
In this market, wood adhesive, molding compound and laminate are the major applications. On the basis of its comprehensive research, Lucintel forecasts that molding compound is expected to remain the largest application segment by value due to high heat resistance, mechanical strength and electrical properties and is used in automotive, aerospace, electronics and industrial market. Wood adhesive will experience the highest growth over the forecast period supported by increasing demand for adhesives in furniture, water proof construction panels, beams, and marine plywood.
Construction, transportation, electrical & electronic, and furniture are the major end use industries. Construction is expected to be the largest market by value and volume, and will experience the highest growth over the forecast period.
By resin type, resol and novolac are the major resins used to manufacture adhesives, molding compound, and laminate.
Asia Pacific (APAC) is expected to remain the largest region by value and volume. North America is expected to experience the highest growth over the forecast period due to growth in end use industries.
Emerging trends, which have a direct impact on the dynamics of the industry, include the development of bio based phenolic resin, and increased penetration of phenolic resin in applications where fire, smoke, and toxicity properties are required. Hexion, Shandong Shengquan Chemical Co, Si Group, Sumitomo Bakelite, and Georgia–Pacific are some of the major suppliers of phenolic resin market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the phenolic resin market by application type, end use industry, resin, region, and by country and has come up with a comprehensive research report entitled, “Growth Opportunities in the Phenolic Resin Industry 2019-2024: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions.
The study includes a forecast for the phenolic resin market by application, end use, resin, region and country as follows:
By application (Value ($M) and Volume (M lbs) shipment analysis from 2013 to 2024):
• Wood adhesive
• Molding compound
• Laminate
• Insulation
• Coating
• Paper Impregnation
• Others

By end use industry (Value ($M) and Volume (M lbs) shipment analysis from 2013 to 2024):
• Construction
• Transportation
• Electrical and Electronics
• Furniture
• Industrial
• Others
By resin type (Value ($M) and Volume (M lbs) shipment analysis from 2013 to 2024):
• Resol phenolic resin
• Novolac and other phenolic resin
By region (Value ($M) and Volume (M lbs) shipment analysis from 2013 to 2024):
• North America
• Europe
• APAC
• ROW
By country (Value ($M) and Volume (M lbs) shipment analysis from 2013 to 2024):
• North America
− US
− Canada
− Mexico
• Europe
− Western Europe
− Central/Eastern Europe
• Asia Pacific
− China
− Japan
− India
− Taiwan
− Republic of Korea
− Others
• ROW
− Middle East
− Central/South America
This 204 page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link…… or [email protected].
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following 11 key questions:
Q.1 What are some of the most promising, high-growth in epoxy resin in the composites industry by application (wood adhesive, molding compound, laminates, insulation, Coating, Paper Impregnation, and others) end use industry (construction, transportation, electrical and electronics, furniture, Industrial, and others), resin type (resol and Novolac resin), region (North America, Europe, Asia Pacific and ROW) and by country (US, Canada, Mexico, Western Europe, Central. Eastern Europe, China, India, Japan, Taiwan, Republic of Korea, Middle East and Central/ South America) ?
Q.2 Which product segments will grow at a faster pace and why?
Q.3 Which region will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges in the market?
Q.5 What are the business risks and competitive threats in this market?
Q.6 What are emerging trends in this market and reasons behind them?
Q.7 What are some changing demands of customers in the market?
Q.8 What are the new developments in the market and which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products in this area and how great a threat do they pose for loss of market share through product substitution?
Q.11 What M&A activities have transpired in the last 5 years in this market and what impact have these had on the industry?