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Chicago, December 7, 2021 /PRNewswire , Insulation Materials), End Uses "Reporting Industries and Regions (North America, Europe, Asia Pacific, MEA, South America)-Global Forecasts to 2026", released by MarketsandMarkets™, it is estimated that the phenolic resin market will reach 14.4 billion by 2026 US dollars, the compound annual growth rate between the two is 4.3% between 2021 and 2026. The phenolic resin market is expected to grow from US$11.7 billion in 2021 to US$14.4 billion in 2026, with a compound annual growth rate of 4.3% during the forecast period. %. The growth of the phenolic resin market is attributed to increased demand from various industries because they have enhanced properties such as high heat resistance, high moldability, mechanical strength, low toxicity of smoke, and ability to blend with polymers. For example, Because of their high heat resistance, they are widely used in automotive parts and electrical switches. The low thermal conductivity makes phenolic resin suitable for insulating materials.

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Resol is the largest type of phenolic resin.

Resol is the preferred type of phenolic resin in various end-use industries because of their cost-effectiveness, enhanced performance, and wide range of applications. Some of the main applications of resole phenolic resins are exterior plywood oriented strand board (OSB), engineered laminated composite wood (LCL), engineered wood, and adhesives. The growing demand from the automotive and construction industries has led to an increasing global demand for resole phenolic resin.

Wood adhesives are the main application of phenolic resins.

Wood adhesive applications are one of the fastest growing applications of phenolic resins. The evolving construction industry has mainly driven the increase in demand for wood adhesives. The plywood segment occupies the largest share in the wood adhesive segment. The Asia-Pacific region accounts for the largest share of the wood adhesive market. With the growth of economies such as India, South Korea and Indonesia, the demand for phenolic resins in this region is expected to increase significantly.

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The Asia-Pacific region is the fastest growing market for phenolic resins.

The Asia-Pacific region is expected to become the fastest growing phenolic resin market. The growth of the phenolic resin market in the Asia-Pacific region can be attributed to the growing investment in construction and construction and the automotive industry in the region. In addition, phenolic resin manufacturers are targeting this region because it is the strongest regional market. China is the main producer and consumer of phenolic resin in the region. Other major markets in the region are emerging economies such as Japan, India and Thailand.

The most active participants in the phenolic resin market:

Bakelite Synthetics (USA), Sumitomo Bakelite Company Limited (Japan), SI Group Inc. (USA), Jinan Shengquan Group Co., Ltd. (China), Ashland Global Holdings, Inc. (USA), BASF SE (Germany), Georgia- Pacific Chemicals (U.S.), DIC Corp (Japan), Hexcel Corporation (U.S.), Akrochem Corporation (U.S.) are leaders in the phenolic resin market.

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Classified by resin type (PU, PS, PO, phenolic resin), foam type (rigid, flexible), end-use industry (building and construction, packaging, automotive, furniture and bedding, footwear, sports and leisure) and region Polymer foam market

https://www.marketsandmarkets.com/Market-Reports/foams-market-1011.html 

Wood adhesive market by resin type (natural and synthetic), technology (solvent-based, water-based, solvent-free), application (floor and deck, plywood, furniture, cabinets, particleboard, doors and windows)

https://www.marketsandmarkets.com/Market-Reports/wood-adhesives-market-77758472.html 

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