Phenolic
Resins Market report provides complete background analysis of the Chemical and
Materials industry which includes an assessment of the parental market. By
thinking from customer point of view, a team of researchers, analysts and
industry experts work carefully to generate this Phenolic Resins Market
research report. A high quality global market research is brought together for
the success of your business at international level. Competitor analysis is one
of the most important aspects of market research report which helps businesses
decide upon the strategies by comparing them with the competitors. Besides,
this Phenolic Resins Market research report makes clients aware about the
various strategies that are used by key players of the market.
Global
phenolic resins market is expected to rise to an estimated value of USD
16.9 billion by 2026, registering a substantial CAGR in the forecast period of
2019-2026. The high growth of this market is due to rising demand for plastics
which provides strength, high thermal resistance and fire-resistant properties.
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Market Definition: Global Phenolic Resins
Market
Phenolic
resins, also known as phenol–formaldehyde resins are synthetic polymers which
are produced from the reaction of phenol or substituted phenol with
formaldehyde at high temperatures. They are hugely applicable in wood
adhesives, molding compounds, and laminates.
Top Manufacturers
Covered in the Report:
Few of the
major competitors currently working in the global phenolic resins market are Mitsui
Chemicals, Inc., Hexion, BASF SE, SBHPP, Aica Kogyo Co., Ltd., SI Group, Inc.,
LERG SA., Shengquan Group, UCP Chemicals AG, Tongcheng-Elong, SHANDONG LAIWU
RUNDA NEW MATERIAL CO.,LTD, ALLNEX NETHERLANDS B.V., Plenco, Metadynea
International, Kolon Industries Inc., Georgia-Pacific Chemicals LLC, Prefere
Resins Holding GmbH, Chang Chun Group among others.
Key Developments in the Market:
·
In
March 2019, Hexion Inc. introduced a range of new products for automotive,
aerospace, wind energy, and construction applications at JEC World 2019 so that
they meet the demand for lightweight, fire resistance and high performance
composites
·
In
January 2019, Mitsui Chemicals started production for alpha-methyl styrene
which will be a by-product at the time of phenol production. It will help the
company to extend its arms in the global supply
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Market Drivers:
·
Growing
volatility in the production of phenolic resins is propelling the market growth
·
Growing
demand from the construction and transportation industries is expected to
further boost the market growth
·
Rising
application of phenolic resins in nanotechnology acts as a market driver
·
Increasing
demand of phenolic resins for decorative as well as industrial laminated is
propelling the market growth
Market Restraints:
·
Volatility
in crude oil prices is restricting the growth of this market
·
Environmental
regulations regarding formaldehyde emissions also hampers the market growth
·
Huge
investments are required to modify production processes which can also restrict
the growth of this market
Competitive Analysis:
Global
phenolic resins market is highly fragmented and the major players have used
various strategies such as new product launches, expansions, agreements, joint
ventures, partnerships, acquisitions, and others to increase their footprints
in this market. The report includes market shares of phenolic resins market for
Global, Europe, North America, Asia-Pacific, South America and Middle East
& Africa.
Key Insights in the report:
·
Complete
and distinct analysis of the market drivers and restraints
·
Key
market players involved in this industry
·
Detailed
analysis of the market segmentation
·
Competitive
analysis of the key players involved
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