Phenolic Resins Market Outlook 2025: Industry Trends, Segmentation, Market Growth And Competitive Landscape

Phenolic Resins Market Perspective, Comprehensive
Analysis, Size, Share, Growth, Segment, Trends and
Forecast 2025
“The global phenolic resins industry is anticipated to witness stable
growth owing to rising demand from transportation and construction
sector. Phenolic resins find their applications in numerous segments on
account of their properties such as good heat resistance and flame
retardancy, low smoke and toxicity, high mechanical strength and easy
blending with other polymers to attain high performance.”
The global Phenolic Resins Market size was valued at USD 9.30 billion in 2015 and is expected to reach USD 16.0 billion
by 2025, with a CAGR of 5.4%. The global phenolic resins industry is anticipated to witness stable growth owing to
rising demand from transportation and construction sector. Phenolic resins find their applications in numerous
segments on account of their properties such as good heat resistance and flame retardancy, low smoke and toxicity,
high mechanical strength and easy blending with other polymers to attain high performance. Product demand is
expected to rise owing to of increasing use of fire retardant constituents in crucial aircraft and automotive
components.
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Crude oil is the primary raw material used in the manufacturing of phenolic resins and hence price instabilityis
expected to have a direct influence on demand for phenolic resins. In order to ensure conformance to environmental
standards regarding formaldehyde emissions, significant funding and investments have to be made and this may
slowdown the market growth. However, the positive side is that there is an increasing adoption of nanotechnology in
phenolic resins production that aims to improve their functional and structural characteristics and expand their scope
of application.

Product Insights
Novolac resins and resol resins are the two majorvarieties of phenolic resins. Novolac resins, are expected to gain
prominence in the forecast period owing to its ability to mould easily. They have a widespread usage across various
segments as electrical laminates, hardeners and photo resistors in structural laminates for theelectronic circuit board
and aerospace industries
Resol resins constituted for a major chunk of the market share on account of growing demand from wood adhesion
and laminates sector. Furthermore, considerable demand from applications such asoriented strand boards (OSB) and
production of engineered laminated composite lumber (LCL) also contributed to the large demand for resol resins in
the past few years. It is expected to continue the similar trend over the forecast period from 2014 to 2020.
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Application Insights
Phenolic resins provide services tonumerous end-use industries such as automotive, aerospace and constructionvia
applications in laminates, insulation, wood adhesives and moulding compounds.
Wood adhesives were the dominant application on account of increased use in plywood and particleboard adhesives
owing to phenolic resins which form chemical bonds with the phenol-like lignin wood. These products are capable of
retaining moisture and hence are preferred for exterior plywood applications.
Moulding compounds are expected witness high growth. This can be attributed to the ability of phenolic resins to
providefire safety and amplify vehicular efficiency. Rising demand from the automotive segment is anticipated to play
a critical role in the phenolic resins growth over the forecast period. They are used in numerous components in
automobiles including cooling system, air supply system brake, suspension, powertrainand fuel system.
New product developments in molding compounds by the use of carbon fiber or long glass fiber is expected to provide
market opportunities in displacing ceramics, metals and filled high-performance thermoplastic resin systems in
applications where fuel efficiency and weight reduction play a vital role such as aircraft and industries. Molding
materials that contain long fibers and carbon fibers are characterized by newly introduced phenolic reinforced
structures that exhibit highmechanical strength and high impact strength at high temperatures for additional
displacement of ceramics and metals.
Fiber-reinforced composites with phenolic resins is anticipated to flourish owing to increase in new aircraft by Airbus
(787, A380, and A350) and Boeing. Theserequirecargo liners, aircraft interiors,light weight paneling, increased volume
in honeycomb manufacture for aircraft and potential use of high-density phenolic foam as a replacement for balsa

sandwich panels. Additionally, the development of carbon foam is anticipated to witness expansion into composite
associated areas such as light weight paneling and tooling.
Regional Insights
Asia Pacific emerged as the market leader in phenolic resins market on account of widespread use in construction
applications and growing consumption of moulding compounds in India and China. China is a large phenolic resins
marketand a significant consumer at a global level. Within North America, U.S. is one of the leading consumers in wood
adhesive applications of phenolic resins. In addition, demand for thermal insulation productsis expected to be on a
rise on account of the legislation implemented in various countries and regional associations for constructing energy
efficient buildings. Further, growing use of composites in marine, mass transit and aerospace is anticipated to boost
the phenolic resins market.
Competitive Insights
Key market players have expanded their manufacturing facilities to sufficethe growing demand. As an instance, in
2013, Ludwigshafen Verbund site had a new plant set up as a part of BASF modernization and expansion of production
facility. Other majorparticipants in the market include Hitachi Chemical Co. Ltd., Georgia Pacific Chemicals LLC, Kolon
Industries Inc., SI Group, Inc., Prefere Resins, DIC Corporation, Momentive Specialty Chemicals Inc., Sumitomo Bakelite
Co. Ltd., Dujodwala Paper Chemicals Ltd., and Mitsui Chemicals Inc.
Market Segment:
Phenolic Resins Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
• Novolac
• Resol
• Others
Phenolic Resins Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
• Wood Adhesives
• Molding Compounds
• Insulation
• Laminates
• Paper Impregnation

• Coatings
• Others
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Phenolic Resins Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
• North America
• U.S.
• Canada
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Asia Pacific
• China
• India
• Japan
• Southeast Asia
• Latin America
• Mexico

• Brazil
• Middle East & Africa (MEA)
• Saudi Arabia
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