Edit Content
Bizwit-Logo-Final

Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. We have a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. 

Global Phenolic Resins Market to Reach USD 18.59 Billion by 2032 The Global Phenolic Resins Market is valued at approximately USD 12.73 billion in 2023 and is anticipated to grow at a steady CAGR of 4.30% over the forecast period 2024-2032.

Global Phenolic Resins Market Size Study by Type (Resol, Novolac), Application (Wood Adhesives, Laminates, Foundry & Moldings, Paper Impregnation, Coatings, Insulations) and Regional Forecasts 2022-2032

Product Code: CMPP-31357521
Publish Date: 9-01-2025
Page: 200

The Global Phenolic Resins Market is valued at approximately USD 12.73 billion in 2023 and is anticipated to grow at a steady CAGR of 4.30% over the forecast period 2024-2032. Phenolic resins, renowned for their exceptional thermal stability, chemical resistance, and mechanical strength, play a pivotal role in various industrial applications. These resins are synthesized through the polymerization of phenol and formaldehyde, resulting in materials with unique properties suited for demanding environments. Their extensive use in adhesives, coatings, and insulation materials highlights their indispensability in critical sectors such as construction, automotive, and electronics.
The surging demand for wood adhesives and laminates in the construction industry, coupled with the increasing use of phenolic resins in moldings and foundry applications, significantly propels market growth. The automotive sector, driven by lightweighting trends, increasingly relies on these resins for enhancing performance and durability in components. Furthermore, advancements in insulation technologies, emphasizing energy efficiency, underscore the growing reliance on phenolic resins for building materials and industrial applications. However, challenges such as volatile raw material prices and environmental concerns regarding formaldehyde emissions pose potential hurdles for market expansion.
Nonetheless, the industry is witnessing a shift toward innovative and sustainable production methodologies, such as bio-based phenolic resins, which mitigate environmental impacts while meeting stringent regulatory standards. These advancements, along with the exploration of new application avenues, are expected to unlock significant growth opportunities for market participants. Collaborative efforts among key players to develop customized solutions further underline the competitive and evolving nature of the market.
Regionally, North America dominates the phenolic resins market, driven by robust industrial infrastructure and high demand across automotive and construction sectors. Europe maintains a substantial share, supported by stringent environmental regulations and a focus on sustainable materials. The Asia-Pacific region is projected to exhibit the fastest growth, fueled by rapid urbanization, infrastructure development, and expanding automotive manufacturing in emerging economies such as China and India. Latin America and the Middle East & Africa are also anticipated to witness steady growth, driven by increasing industrialization and rising investments in construction and energy sectors.
________________________________________
Major market players included in this report are:
• Hexion Inc.
• Sumitomo Bakelite Co., Ltd.
• Georgia-Pacific Chemicals LLC
• Kolon Industries, Inc.
• BASF SE
• DIC Corporation
• Mitsui Chemicals, Inc.
• Prefere Resins Holding GmbH
• SI Group, Inc.
• Chang Chun Group
• Kangnam Chemical Co., Ltd.
• Shandong Shengquan Chemical Co., Ltd.
• UCP Chemicals AG
• Arclin, Inc.
• Momentive Specialty Chemicals Inc.
________________________________________
The detailed segments and sub-segments of the market are explained below:
By Type:
• Resol
• Novolac
By Application:
• Wood Adhesives
• Laminates
• Foundry & Moldings
• Paper Impregnation
• Coatings
• Insulations
By End-Use Industry:
• Construction
• Automotive
• Electronics
• Others
By Region: North America
• U.S.
• Canada
Europe
• UK
• Germany
• France
• Spain
• Italy
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• Australia
• South Korea
• Rest of Asia-Pacific
Latin America
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa
• Saudi Arabia
• South Africa
• Rest of Middle East & Africa
________________________________________
Key Takeaways:
• Market estimates and forecasts spanning a decade (2022-2032).
• Regional-level analysis for all market segments.
• Comprehensive competitive landscape overview and strategic analysis of major players.
• Demand-side and supply-side dynamics influencing the market.
• Actionable recommendations based on detailed market insights.

Table of Contents
Chapter 1. Global Phenolic Resins Market Executive Summary
1.1. Global Phenolic Resins Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
1.3.1. By Type
1.3.2. By Application
1.3.3. By End-Use Industry
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion
Chapter 2. Global Phenolic Resins Market Definition and Research Assumptions
2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
2.3.1. Inclusion & Exclusion
2.3.2. Limitations
2.3.3. Supply Side Analysis
2.3.3.1. Availability
2.3.3.2. Infrastructure
2.3.3.3. Regulatory Environment
2.3.3.4. Market Competition
2.3.3.5. Economic Viability (Consumer’s Perspective)
2.3.4. Demand Side Analysis
2.3.4.1. Regulatory Frameworks
2.3.4.2. Technological Advancements
2.3.4.3. Environmental Considerations
2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates
Chapter 3. Global Phenolic Resins Market Dynamics
3.1. Market Drivers
3.1.1. Increasing Demand in Wood Adhesives and Laminates for Construction
3.1.2. Rising Utilization in Foundry & Moldings Applications
3.1.3. Growing Demand in Automotive for Lightweight Components
3.2. Market Challenges
3.2.1. Volatile Raw Material Prices
3.2.2. Environmental Concerns Regarding Formaldehyde Emissions
3.3. Market Opportunities
3.3.1. Adoption of Sustainable Production Methodologies
3.3.2. Advancements in Catalytic Technologies for Eco-Friendly Manufacturing
3.3.3. Exploration of New Application Avenues
Chapter 4. Global Phenolic Resins Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model
4.1.7. Porter’s 5 Force Impact Analysis
4.2. PESTEL Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.2.5. Environmental
4.2.6. Legal
4.3. Top Investment Opportunities
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Global Phenolic Resins Market Size & Forecasts by Type 2022-2032
5.1. Segment Dashboard
5.2. Global Phenolic Resins Market: Type Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
5.2.1. Resol
5.2.2. Novolac
Chapter 6. Global Phenolic Resins Market Size & Forecasts by Application 2022-2032
6.1. Segment Dashboard
6.2. Global Phenolic Resins Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
6.2.1. Wood Adhesives
6.2.2. Laminates
6.2.3. Foundry & Moldings
6.2.4. Paper Impregnation
6.2.5. Coatings
6.2.6. Insulations
Chapter 7. Global Phenolic Resins Market Size & Forecasts by End-Use Industry 2022-2032
7.1. Segment Dashboard
7.2. Global Phenolic Resins Market: End-Use Industry Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
7.2.1. Construction
7.2.2. Automotive
7.2.3. Electronics
7.2.4. Others
Chapter 8. Global Phenolic Resins Market Size & Forecasts by Region 2022-2032
8.1. North America Phenolic Resins Market
8.1.1. U.S. Phenolic Resins Market
8.1.1.1. Application Breakdown Size & Forecasts, 2022-2032
8.1.1.2. End-Use Industry Breakdown Size & Forecasts, 2022-2032
8.1.2. Canada Phenolic Resins Market
8.2. Europe Phenolic Resins Market
8.2.1. UK Phenolic Resins Market
8.2.2. Germany Phenolic Resins Market
8.2.3. France Phenolic Resins Market
8.2.4. Spain Phenolic Resins Market
8.2.5. Italy Phenolic Resins Market
8.2.6. Rest of Europe Phenolic Resins Market
8.3. Asia-Pacific Phenolic Resins Market
8.3.1. China Phenolic Resins Market
8.3.2. India Phenolic Resins Market
8.3.3. Japan Phenolic Resins Market
8.3.4. Australia Phenolic Resins Market
8.3.5. South Korea Phenolic Resins Market
8.3.6. Rest of Asia-Pacific Phenolic Resins Market
8.4. Latin America Phenolic Resins Market
8.4.1. Brazil Phenolic Resins Market
8.4.2. Mexico Phenolic Resins Market
8.4.3. Rest of Latin America Phenolic Resins Market
8.5. Middle East & Africa Phenolic Resins Market
8.5.1. Saudi Arabia Phenolic Resins Market
8.5.2. South Africa Phenolic Resins Market
8.5.3. Rest of Middle East & Africa Phenolic Resins Market
Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Hexion Inc.
9.1.2. Sumitomo Bakelite Co., Ltd.
9.1.3. Georgia-Pacific Chemicals LLC
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Hexion Inc.
9.3.1.1. Key Information
9.3.1.2. Overview
9.3.1.3. Financial (Subject to Data Availability)
9.3.1.4. Product Summary
9.3.1.5. Market Strategies
9.3.2. Sumitomo Bakelite Co., Ltd.
9.3.3. Georgia-Pacific Chemicals LLC
9.3.4. Kolon Industries, Inc.
9.3.5. BASF SE
9.3.6. DIC Corporation
9.3.7. Mitsui Chemicals, Inc.
9.3.8. Prefere Resins Holding GmbH
9.3.9. SI Group, Inc.
9.3.10. Chang Chun Group
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

Need Assistance

Contact Person -
Krishant Mennon
Call us @
+ 91 99931 15879
Email: sales@bizwitresearch.com

Checkout

Why Choose Us?

Quality over Quantity

Backed by 60+ paid data sources our reports deliver crisp insights with no compromise quality.

Analyst Support

24x7 Chat Support plus
free analyst hours with every purchase

Flawless Methodology

Our 360-degree approach of market study, our research methods leave stones unturned.

Enquiry Now