Bakelite Market To 2022 – Industry Analysis, Trends: Grand View Research, Inc.

Grand View Research, Inc: Global Bakelite Market, Market
Size, Application Analysis, Regional Outlook, Competitive
Strategies and Forecasts, 2015 To 2022
Increasing bakelite application in end-use industries such as power generation,
electronics, and aerospace is expected to drive the global market growth over the
next seven years. Intrinsic properties associated with bakelite such as electrical
non-conductivity and heat resistance finds application in wire insulation, semiconductors,
automotive components and brake pads. Increasing electrical
appliances consumption is expected to drive bakelite demand in wire insulation
and semi-conductors. In addition, bakelite possesses durability, fine finishing and
superior sound properties which are used in manufacturing game components such
as billiard balls and dominoes. Growth of gaming devices market in emerging
economies such as China, India and Hong Kong is anticipated to fuel bakelite
demand over the next seven years.
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Bakelite is used to manufacture electrical components such as electron tubes,
sockets and insulators owing to high resistance property. Growth of electrical
components market particularly in Korea and China is expected to augment
bakelite demand in near future. Stringent regulatory policies by agencies such as
ECHA and EPA regarding health hazards caused by bakelite are expected to
restrain market growth over the next seven years.
Asia Pacific dominated the global bakelite market in 2013 and is anticipated to
register high growth owing to rising bakelite consumption in key end-use segments
such as games, semiconductor and automotive brake pads. Increasing utilization of
dominoes and billiard balls in countries such as Japan and China is projected to
further drive market growth in the region over the foreseeable future. North
America is expected to register significant growth on account of its increasing
consumption in power generation. European bakelite market is characterized by
increasing power generation and automotive production.

These trends are expected to remain key factors driving its growth over the forecast
period. Stringent environmental regulations regarding its disposability and health
hazards associated with its unsafe handling are expected to challenge European
market growth.
Major players operating in the global bakelite market include MingQun
Optoelectronics Tech. Co. Ltd., Sumitomo Bakelite Co. Ltd., Romit Resins Pvt.
Ltd., Borden Chemical Inc., Momentive Specialty Chemicals and Elkor. The
global market in fragmented in nature and major companies such as Sumitomo
Bakelite have been involved in M&A in order to increase their market share.
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research reports,
and consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals, materials,
healthcare and energy.
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