As per SNS Insider’s research, as various sectors continue to expand and prioritize safety, durability, and environmental concerns, the phenolic resin market is poised to remain strong, with ongoing research and innovation further driving growth.

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The Major Key Company Profiles included in Phenolic Resin market study are:

  • Kolon Industries Inc.
  • Asahi Yukizai Corporation
  • Prefere Resins Holding GmbH
  • ASK Chemicals
  • Gunei Chemical Industry Co., Ltd
  • Kraton, Allnex GMBH
  • Seiko PMC Corporation
  • Bakelite Synthetics
  • Sumitomo Bakelite Co. Ltd.


The SNS Insider report indicates that the phenolic resin market achieved a valuation of USD 12.54 billion in 2022 and is projected to attain USD 17.83 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.5% during the forecast period from 2023 to 2030.

Market Repot Scope

Phenolic resin, often referred to simply as phenolic, is a synthetic polymer derived from phenol (an aromatic organic compound) and formaldehyde (a simple organic compound). This versatile and widely used material has a rich history dating back to the early 20th century when it was first developed. It has found numerous applications across various industries due to its exceptional properties and durability.

Market Analysis

The phenolic resin market is experiencing significant growth, driven by several key factors that are shaping the industry. The construction industry is a major consumer of phenolic resins, using them in various applications such as laminates, adhesives, and coatings. With the rapid urbanization and infrastructure development taking place worldwide, the demand for phenolic resins in the construction sector is on the rise. The electronics industry relies heavily on phenolic resins for the production of printed circuit boards (PCBs) and encapsulation of electronic components. The increasing use of electronic devices and the expansion of the Internet of Things (IoT) are driving the demand for phenolic resins in this sector. Phenolic resins are favored for their fire-resistant and heat-resistant properties. With growing concerns about fire safety and stricter environmental regulations, phenolic resins are increasingly being used in applications like fire-resistant materials and insulation.

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The Phenolic Resin Market Segments and Sub-Segments are Listed Below:

By Type:

  • Resol
  • Novolac
  • Others

By Application:

  • Wood Adhesives
  • Laminates
  • Foundry & Moldings
  • Paper Impregnation
  • Coatings
  • Insulations
  • Others

By End-Users:

  • Building & Construction
  • Furniture
  • Automotive
  • Electrical & Electronics
  • Others


Impact of Recession

The impact of a recession on the phenolic resin market is influenced by a combination of factors, including changes in demand, supply chain disruptions, pricing pressures, regulatory changes, and consumer behavior. Phenolic resin manufacturers need to adapt to these changing circumstances, potentially by diversifying their product offerings, improving operational efficiency, and staying attuned to evolving market dynamics. Additionally, government policies and global economic conditions will also play a crucial role in shaping the industry’s resilience during recessionary periods.

Impact of Russia-Ukraine War

The Russia-Ukraine war has introduced a considerable degree of uncertainty and disruption to the phenolic resin market. The extent of the impact will depend on the duration and severity of the conflict, as well as the ability of the industry to adapt to changing geopolitical circumstances. Companies operating in this sector will need to closely monitor developments and be prepared to adjust their strategies accordingly to mitigate risks and seize emerging opportunities.

Key Regional Development

North America is a mature market for phenolic resins, with a well-established industrial base. The demand for phenolic resins in industries like automotive, construction, and electronics remains stable. Europe’s strong automotive industry drives the demand for phenolic resins in applications like friction materials and composites. The rapid industrialization in countries like China and India from Asia Pacific region has led to a surge in demand for phenolic resins, particularly in the manufacturing and construction sectors.

Key Takeaway from Phenolic Resin Market Study

  • The Retail & Building & Construction segment’s dominance in the market is driven by its consistent demand and diverse applications. Phenolic resins are valued in construction for their bonding capabilities. They are used as adhesives and coatings in various applications, including structural assemblies and exterior finishes, ensuring the durability and stability of structures.


  • Resol phenolic resin segment, renowned for its exceptional thermal and mechanical properties, stands as a vital contributor to the market’s growth. Resol phenolic resins offer exceptional durability, ensuring long-lasting performance in various applications. This quality is pivotal in sectors like transportation, where components need to withstand heavy usage and mechanical stress.

Recent Developments Related to Phenolic Resin Market

  • Bakelite, a leading player in the chemical industry, has recently announced its strategic move to acquire LRBG Chemicals, a prominent name in the specialty chemical sector. This acquisition marks a significant development in the industry, with far-reaching implications for both companies and the broader market.


  • DIC Corporation, a global leader in the chemical industry, has recently completed its acquisition of Guangdong TOD New Material Co., Ltd., a prominent Chinese coating resin manufacturer. This strategic move is set to significantly enhance DIC Corporation’s capabilities and market presence in the field of phenolic resins, marking a pivotal moment in their growth trajectory.


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Table of Contents – Major Key Points

  1. Introduction
  2. Research Methodology
  3. Market Dynamics
  4. Impact Analysis

 4.1 COVID-19 Impact Analysis

 4.2 Impact of Ukraine- Russia war

 4.3 Impact of ongoing Recession on Major Economies

  1. Value Chain Analysis
  2. Porter’s 5 forces model
  3. PEST Analysis

8.Phenolic Resin Market Segment, By Type

9.Phenolic Resin Market Segment, By Application

10.Phenolic Resin Market Segment, By End-Users

  1. Regional Analysis
  2. Company Profile

13.Competitive Landscape

  1. Conclusion

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