Phenolic resins Market
                     Phenolic resins Market Competitive Analysis, Upcoming Demand And Growth Forecast 2021 
To 2028
Market Overview
Phenolic resins are polymers that have excellent heat and electrical resistance properties. It is 
majorly used as molding materials, abrasives, adhesives, laminates, friction materials, and insulators
materials. Phenolic resins can be classified into resol and novolac. Resol is produced under normal 
conditions, with excess formaldehyde, whereas novolac is created under acidic conditions by using 
excess phenol.
The global phenolic resins market is estimated to be valued at US$ 21,365.5 million in 2028 and is 
expected to exhibit a CAGR of 5.5 % over the forecast period (2021-2028).
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Market Dynamics
Increasing demand from the automotive industry and rapid growth in the construction sector is 
driving growth of the phenolic resins market. According to the India Brand Equity Foundation, 
India plans to spend US$ 1.4 trillion on infrastructure projects through the National Infrastructure 
Pipeline (NIP), from 2019 to 2023, to ensure sustainable development in the country.
However, the volatile price of raw materials is expected to restrict growth of the market.
Detailed Segmentation:
• Global Phenolic Resins Market, By Product Type:
• Resole
• Novolac
• Others
• Global Phenolic Resins Market, By Application:
• Wood adhesivs
• Molding Compounds
• Laminates
• Insulation
• Others
Key companies covered as a part of this study include BASF SE, Chang Chun Plastics Co. Ltd., 
Georgia Pacific Chemicals LLC, Kolon Industries Inc., Prefere Resins, Mitsui Chemicals Inc., 
Sumitomo Bakelite Co., Ltd, Hitachi Chemical Co. Ltd., SI Group, Inc., and Momentive Specialty 
Chemicals, Inc.
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