Increased applications of phenolic molding compounds in automotive and aerospace industries is expected to impact the global phenolic resins market positively, according to a new study by Grand View Research, Inc.. The use of phenolic resins in the construction industry is expected to contribute significantly to market growth. Volatility of crude oil is expected to hamper industry growth as it is a vital constituent in the production process.
Increased applications of phenolic molding compounds in automotive and aerospace industries is expected to impact the global phenolic resins market positively, according to a new study by Grand View Research, Inc.. The use of phenolic resins in the construction industry is expected to contribute significantly to market growth. Volatility of crude oil is expected to hamper industry growth as it is a vital constituent in the production process. Environmental norms regarding formaldehyde emissions may pose a challenge to phenolic resins market growth, as considerable investments have to be made to comply with environmental emission standards.
View Full Report with TOC @
Further key findings from the study suggest:
- Resol resins accounted for majority of the overall phenolic resins market volume in 2013, and are expected to dominate the market throughout the forecast period, on account of increased demand in laminates and wood adhesives. Novolac resins are expected to gain market share over the next six years.
- Wood adhesives emerged as the leading application segment in 2013. The market for molding compounds is expected to witness high growth over the forecast period owing to increased demand from automotive and aerospace industries. Other applications include abrasives, coatings & varnishes, friction materials, and rubber adhesives.
- Asia Pacific contributed to over 35% of the phenolic resins market volume in 2013 and is expected to remain the leading regional market over the next six years, which can be attributed to increased consumption of phenolic resins in automotive as well as infrastructure spending in India and China.
- The market comprises a large number of companies, and is highly fragmented in nature. Key industry participants include BASF, Hitachi Chemical Co. Ltd., Georgia Pacific Chemicals LLC, Sumitomo Bakelite Co. Ltd., SI Group, Inc., Momentive Specialty Chemicals Inc., DIC Corporation, Kolon Industries Inc., Dujodwala Paper Chemicals Ltd., Prefere Resins, and Mitsui Chemicals Inc.
For the purpose of this study, Grand View Research has segmented the global phenolic resins market on the basis of product, application and region:
Phenolic Resins Product Outlook (Volume, Kilo Tons & Revenue, USD Million; 2012 – 2020)
• Resol Resins
• Novolac Resins
Phenolic Resins Application Outlook (Volume, Kilo Tons & Revenue, USD Million; 2012 – 2020)
• Molding Compounds
• Wood Adhesives
Phenolic Resins Regional Outlook (Volume, Kilo Tons & Revenue, USD Million; 2012 – 2020)
• North America
• Asia Pacific
For more information kindly visit: http://www.grandviewresearch.com/
Watch Adrienne Palmer's session from the DTG Training Academy 2021.
Apparel Decoration Trends for 2021
Adrienne Palmer joins Jay Busselle, marketing director, Equipment Zone, during the DTG Training Academy 2021 virtual event, to share apparel decoration trend insight from Jeremy Picker, where you should be finding your trendspiration, and data from Keypoint Intelligence highlighting the positive recovery of DTG printers.
Beaver Paper Group Rebrands Legacy Cut & Sew Products
A Critical Year for Haptics as New Technology Options Mature, Finds IDTechEx Research
Digital Art Solutions Presents Free Graphics Academy Master Class Series
How To Be Heard Without Making A Sound
COVID-19 Unmasks Business Opportunities for Screen Printers
Top 10 Tools for Art and Design
Expert Perspectives2 months ago
Screen Printing Editorial Advisory Board Members Reflect on How 2020 Affected Their Businesses
Marshall Atkinson2 months ago
Why Aren’t There More Women Leaders in Screen Printing?
Rising Stars Awards1 month ago
Announcing the 2020 Rising Stars Award Winners
Women in Screen Printing2 months ago
Meet the Women in Screen Printing: Deonjala Williams
Marshall Atkinson2 months ago
20 Ways to Be Successful During Disruption
Andy MacDougall2 months ago
For Opportunity Hunters Entering the Screen Printing Business, There’s a Big Learning Curve Ahead
Tips and How-To2 months ago
Six Tips for Selling Your Screen Printing Business
Rising Stars Awards2 months ago
Meet the 2020 Rising Stars Awards Winner: David Kent