Phenolic Resin Market By Global Industry Size, Share, Trends, Opportunity and Forecast 2027 - TechSci Research
Global Phenolic Resin Market is projected to reach USD 16.10 Billion by 2027, at a CAGR of over 5% during the forecast period due to increasing demand from the tire industry. Based on type, the market has been categorised into resol resin, novolac resin, and others. The Resol resin is expected to lead the global phenolic resin market during 2022-2027, followed by novolac resin due to its rising use in the wood adhesives application. And its various properties like high flexibility, heat resistance, mechanical strength excellent friction properties. Based on applications, the global phenolic resin market is classified into wood adhesives, Molding, laminates, foundry, insulation, and others. In 2021, the wood adhesives application dominated the market due to growing construction industry whereas the Molding application is also expected to grow at the highest CAGR during forecast period. Some of the leading players in the market are Sumitomo Bakelite Co. Ltd., DIC Corporation, BASF S...