Phenolic Resin Market by Type (Resol and Novolac) and by Application (Wood Adhesive, Molding, Laminates, Insulation, and Others) - Global Trends & Forecast to 2019

Phenolic resin is the oldest synthetic resin. Because of its high mechanical strength, good heat resistance, flame retardant, low toxicity, low smoke and its property of getting blended with other polymers to achieve high performance it is widely used in molding compounds, wood adhesives, laminates, insulation, and other fields. Phenolic resins are used in plywood and in fibrous and granulated wood products. Demand for wood products is influenced by the health of the construction industry and overall state of the economy. Since the major portion of phenolic resins is used in the wood products industry, the market for phenolic resins in most countries closely tracks GDP growth and housing market growth.
Wood adhesives will continue to have the largest share of the world market for phenolic resins and will drive phenolic resin consumption on a global scale. The developing regions of Central and South America and Central and Eastern Europe will experience the largest growth in this application. Phenolic resin consumption for molding compounds will grow primarily in China, India and other Asian countries as more molding operations start up in the region.
The report analyzes the global phenolic resins market trends and forecasts till 2019. The market size estimations have been provided in terms of market volume (KT) and value ($Million). The report also identifies prominent players and provides analysis for each player in terms of company overview, financials, products and services offered recent developments, and company strategy.
The global phenolic resins market is expected to grow at a CAGR of 5.7% from 2014 to 2019 to reach a value of $19.3 billion. Phenolic resins used for wood adhesives segment is growing at a CAGR of 6.1% and constitutes a significant part of the overall phenolic resins market. However moldings segment, which is the second largest application area for phenolic resins, is expected to grow at a CAGR of 6.8% by 2019.
Partnerships and expansions for phenolic resins in the recent past have indicated that the industry is on its way to expand globally and global phenolic resin suppliers are strengthening their presence in emerging markets.
All these factors, along with the growing wood adhesives, molding and laminates industry, will continue to drive the demand for phenolic resins.