Phenolic Resins Market projected to reach US$22.312 billion by 2030 at a significant CAGR of 6.10%

The phenolic resins market is expected to grow at a CAGR of 6.10% to reach a market size of US$22.312 billion by 2030, up from US$16.592 billion in 2025.

NEW YORK, NY, UNITED STATES, January 31, 2025 /EINPresswire.com/ -- As per a new study published by Knowledge Sourcing Intelligence, the phenolic resins market is projected to grow at a CAGR of 6.10% between 2025 and 2030 to reach an amount of US$22.312 billion by 2030.

Phenolic resins or phenol-formaldehyde resins are synthetic thermosetting polymers and are produced from a chemical reaction between phenol and formaldehyde. They are categorized as primary types and are commonly used in various sectors, including manufacturing, adhesives and coatings, electrical insulation, and composite materials. A phenolic resin is commonly used in circuit boards as well as components for electronics. Phenolic resins are basic in terms of being classified as one of the earliest synthetic polymers commercially evolved due to technological advancement and industry needs.

The phenolic resin market given increasing environmental standards, booming construction as well as the automotive business, surpassing infrastructural development, and multiplying applications for wood adhesives and laminates, is set for higher growth. Major application areas for phenolic resins include construction and automobile due to respectably higher flame resistance, mechanical strength, and exceptional thermal stability exhibited. Technology advancements in the case of phenolic resins have generated and expanded areas like high-performance materials in the electronics, aerospace, and renewable energy sectors. Urbanization and construction of infrastructure are among the major contributory factors that create this demand and have proved superior in the property of material and safety requirements.

With the emergence of the phenolic resin market, many market players are launching products and technologies to attract customers. For instance, in October 2023, ASK Chemicals, a high-performance resin supplier, introduced its new RELIANCE brand in industrial resins. Through expanding the global footprint with adjoined new materials for the phenolic resin business, particularly for resin operations in the foundry and an industrial resin section, the company focuses on building its expertise.

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By type, the phenolic resins market can be classified into novolacs, and resoles. Novolac resins segment is the biggest type of phenolic resins used in the construction industry and in automotive parts, with their superior capability to bear the loads as well as even the fuselage's components. The range temperature of standing phenomenally higher heat resistance. A maximum of 150°C could withstand being used even in high-temperature applications, making them exceptionally durable and resistant to wear and tearing. Use of these resins includes adhesives, circuit boards, fire-resistant laminates, and parts like fire retardation and under-hood components in the automotive and construction sectors.

The phenolic resins market is segmented by application into coatings, composites, and adhesives. The adhesives segment supports the main contribution to the market in comparison to other segments, primarily in terms of building and furniture companies. This resistance to decay could increase the service life of one product made from phenolic resin for the most part. The anticipated areas of phenolic resins' applications are in coatings because of the heat resistance and a very good toughening property that is necessary in a protective framework. The segment will expand with increasing demand arising from various car-makers as well as from the construction sector.

The phenolic resins market is segmented by end-use industry into automotive, aerospace, electronics, and others. The largest part of the phenolic resin market is directed toward the automotive industry, that is because this sector demands lightweight materials that increase a vehicle's fuel efficiency and improve its performance. Use of these resins falls within interior parts of the car, thermal and cryogenic insulations especially, and structural parts also of the vehicles. The aerospace industry also makes use of these resins due to their high thermal stability and fire-retardant potential, rendering them a better element for construction uses and interior purposes in aircraft.

Based on geography, the Asia Pacific region of the phenolic resins market is growing significantly due to diverse industrial and economic factors. Some of the major nations such as China, India, and Japan are some of the main users of phenolic resins, notably in adhesives, laminates, clear insulation materials, and automotive parts. The growth of new infrastructure like the Singapore Green Building Masterplan will also contribute to rising demand for phenolic resin consumption. More establishments want to set higher criteria for their construction for energy-efficient building practices and, hence, increasing demand for more green building materials, further encouraging developments within the market during the projected period.

As a part of the report, the major players operating in the phenolic resins market have been covered as BASF SE, Bakelite Synthetics, Hexion, INEOS Capital Limited, DIC Corporation, Ashland, and KOLON Industries, Inc., among others.

The market analytics report segments the phenolic resins market as follows:

• By Type

o Novolacs
o Resoles

• By Application

o Coatings
o Composites
o Adhesives

• By End-Use Industry

o Automotive
o Aerospace
o Electronics
o Others

• By Geography

• North America

o USA
o Canada
o Mexico

• South America

o Brazil
o Argentina
o Others

• Europe

o United Kingdom
o Germany
o France
o Italy
o Spain
o Others

• Middle East and Africa

o Saudi Arabia
o UAE
o Others

• Asia Pacific

o China
o India
o Japan
o South Korea
o Taiwan
o Thailand
o Indonesia
o Others

Companies Profiled:

• BASF SE
• The Chemical Company
• Hexion
• Prefere Resins Holding GmbH
• INEOS Capital Limited
• SI Group, Inc.
• DIC Corporation
• Sumitomo Bakelite Co., Ltd.
• Ashland
• Bakelite Synthetics
• KOLON Industries, Inc.

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Knowledge Sourcing Intelligence (KSI) is a market research and intelligence provider that uses a combination of quantitative and qualitative research techniques to deliver comprehensive, in-depth insights to clients. Our approach to market research is centered around the concept of 'Knowledge Sourcing' - the process of gathering data and insights from multiple sources to create a comprehensive and well-rounded picture of the market. KSI's core services include market intelligence, competitive intelligence, customer intelligence, and product intelligence. KSI's approach to market research is designed to help clients make informed decisions, identify opportunities, and gain a better understanding of their target markets. By using a combination of primary and secondary research techniques, we provide clients with detailed insights into current market trends, customer profiles, competitor analysis, and product performance. KSI's market research and intelligence services enable clients to make informed decisions, develop strategic plans, and identify areas of opportunity.

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