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Phenolic Resins Market to Outdo Estimation of US$ 24.78 Billion by 2032 end, Opines Fact.MR

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According to Fact.MR’s recently published report, the global phenolic resins market is anticipated to reach USD 14,685.1 million in 2022 while expanding at a CAGR of roughly 5.4% from 2022 to 2032. Furthermore, Fact.MR projects that the market for phenolic resins will be worth more than USD 24,782.1 million by the end of 2032, due to factors including the expanding demand for phenolic resins from the building and construction and electrical and electronics industries.

Producers are focusing more on expanding their manufacturing facilities around the world as a result of increased research and development in the phenolic resins sector for improved tensile strength and adhesion. Demand in the automotive and aerospace industries has been driven by the development of a form of phenolic resin that can endure high temperatures and is resistant to flames.

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Key players in the Phenolic Resins Market

  • 3M Company
  • DIC Corporation
  • Ashland
  • Hexcel Corporation
  • Arizona Chemical
  • Kolon Industries
  • Georgia-Pacific Chemicals
  • Owens Corning
  • Arclin Inc.
  • Olympic Panel Products LLC.
  • Hardwoods Inc.
  • American Micro Industries Inc.

Key Highlights

  • Global phenolic resins market is projected to grow at a CAGR of 5.4% during the forecast period to reach USD 24,782.1 million by the end of 2032
  • By product type, resol resin is projected to provide an absolute $ opportunity worth USD 5,725.7 million over the forecast period
  • Insulation on the other hand is anticipated to account for 26.8% of market share by 2032, grow with a CAGR of around 6.4% over the forecast period
  • North America is projected to capture around 32.8% of the global phenolic resins market share by 2032 and be valued at USD 8,135.6 million by 2032
  • Europe to provide absolute dollar opportunity worth USD 2,864.5 million by 2032 end growing at a CAGR of 5.2% during 2022-32

Competitive Landscape

3M Company, DIC Corporation, Owens Corning, Arclin Inc., Olympic Panel Products LLC., Hardwoods Inc., Arizona Chemical, Kolon Industries, Georgia-Pacific Chemicals, Ashland, Hexcel Corporation, American Micro Industries Inc. are key suppliers of phenolic resins.

  • Market players such as 3M and Arizona Chemicals are continuously performing research & development to increase the strength of phenolic resins to be used in fire retardants, sealant coatings, etc.
  • DIC Corporation’s phenolic resins PHENOLITE is gaining huge attention across industries due to its improved properties such as flame resistance, cost-effective, high tensile strength, and chemical resistance.

Phenolic resins market forecast by Fact.MR

Industry Survey

  • by Type :
    • Resol Resins
    • Novolac Resins
    • Other Product Types
  • by Application :
    • Insulation
    • Paper Impegration
    • Wood Adhesives
    • Laminates
    • Molding
    • Other Applications
  • by End Use :
    • Electrical & Electronics
    • Building & Construction
    • Furniture
    • Automotive
    • Other End Uses
  • by Region :
    • North America
    • Latin America
    • Europe
    • Asia Pacific
    • Middle East & Africa

Predominant Questions Answered in This Report Are:

  1. Which segments will perform well in the phenolic resins products and services Market over the forecasted years?
  2. In which markets companies should authorize their presence?
  3. What are the forecasted growth rates for the phenolic resins products and services Market?
  4. What are the long-lasting defects of the industry?
  5. How share market changes their values by different manufacturing brands?
  6. What are the qualities and shortcomings of the key players?
  7. What are the major end results and effects of the five strengths study of industry?

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Read more: https://www.digitaljournal.com/pr/news/xherald/phenolic-resins-market-to-outdo-estimation-of-us-24-78-billion-by-2032-end-opines-fact-mr#ixzz88U1S1KOl


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