Global Phenolic Resin Market Definition, Size, Share, Segmentation and Forecast data by 2027
Global Phenolic Resin Market: is expected to reach US$ 20.28 Bn. in 2027, with a CAGR of 5.5% for the period 2021-2027, because of the high demand for phenolic from the various end-use industries.
Global Phenolic Resin Market Overview: High demand for phenolic from the various end-use industries such as automotive industry and thus substantial growth in the automotive industry is primarily driving the growth of the market. Because of its heat resistance, lightweight, fire retardancy, and impact resistance property, it is commonly used in the single-vehicle. Increasing production of automobiles across the emerging region is a main factor boosting the market growth. Hence, the growing demand for phenolic resins from the automotive industry is enhancing the market growth.
The Global Phenolic Resin Market statistical surveying report talks about numerous business methodologies, for example, new product dispatches, market development, organisations, associations, joint ventures, acquisitions, and others that assistance to find out there footstep in the market. This global market report furthermore envelops conjectures using a pragmatic methodology of doubts and procedures. Contingent upon the customer’s interest, a lot of business, item, and market-related data has been united through this report that in the end assists enterprises with making better methodologies.
The report gives different vital participants of the market. It assists the enterprises with understanding the procedures and joint ventures that players are zeroing in on combatting rivalry on the lookout. The total report gives you in depth microscopic look for the Global Phenolic Resin market.
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Scope of the Report for Global Phenolic Resin Market:
This research report provides information about competitive strategies, market considerations, fact-based research, solutions, great opportunities for multiple segments and emerging business models. The report contains a global picture of market size, segmentation, marketing growth of market share, past and future dynamics, the best competition, domestic production, best sales prospects, statistical data, distribution, and end-user analysis. To provide a more detailed view, the best company profiles include Industry Overview, Product/Service Offerings, Segment, Gross Margin, SWOT Analysis, and % Market Share.
Global Phenolic Resin Market Dynamics:
The Global Phenolic Resin market report by MMR provides the global demand growth factors such as drivers. The report also helps with the data of Global Phenolic Resin market growth restraints, market opportunities, and challenges for the newly entrants in the same market.
The market drivers and restraining factors are also provided for the each economy from the various regions, so you will get exact data for focusing area in the Global Phenolic Resin market.
COVID-19 Impact on the Global Phenolic Resin Market:
The COVID-19 pandemic led to the implementation of global lockdown and temporary closure of production facilities of the Global Phenolic Resin industry.
Temporary shutdown of retail outlets resulted in a sudden fall in demand and consumers.
The pandemic also disrupted the supply chain, which in turn, led to rise in the prices of raw materials.
The report offers detailed segmentation of the global market based on material type, distribution channel, end-user, and region.
Global Phenolic Resin Market Segmentation: Based on Application: The phenolic resin market is sub-segmented into Wood adhesives, Foundry, Molding, Laminates, Insulation, Paper Impregnation, Coatings, and Others. Among these, Wood adhesives application is dominates the market and is expected to hold the continuous growth during the forecast period (2021-2027). This growth is mainly because of wood adhesive having a special properties such as water resistance, water diluting ability, excellent moisture resistance, and weather resistance. The Asia Pacific is the major market for the Phenolic Resin.
Global Phenolic Resin Market Key Players:
• Hitachi Chemical Co. Ltd.
• Sumitomo Bakelite Co. Ltd.
• BASF SE
• SI Group Inc.
• DIC Corporation Inc.
• Kolon Industries Inc.
• Shandong Laiwu new material Co. Ltd.
• Changshu South-East Plastic Co., Ltd.
• Mitsui Chemicals Inc.
• Georgia Pacific Chemicals LLC
• Prefere Resins
• Plastics Engineering Company
• RPM International Inc.
• KCC Corporation
• Altex Coatings Inc.
• Nippon Paint Marine Coatings Co., Ltd.
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Global Phenolic Resin Market Regional Analysis: Geographically, Global Phenolic Resin market report is segmented as region wise, furthermore the report is also provides the sales data, demand data and rules and regulations of each economy from that particular regions.
Asia-Pacific (China, Japan, Malaysia, Korea, Thailand, India, Vietnam, Philippines, Indonesia, and Australia)
Europe (Turkey, Russia UK, Italy, Germany, France and others from the Europe)
North America (the United States, Mexico, and Canada)
Latin America America (Brazil and other economies from the Latin America)
The Middle East and Africa (GCC Countries and Egypt.)
Furthermore, the study covers market size, growth rate, import and export, as well as country-level analysis, integrating the demand and supply forces of the Global Phenolic Resin market in these countries, which are impacting market growth.
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