The reports also help in understanding the Phenolic Resin Market dynamic, and structure by analyzing the market segments and projecting the Phenolic Resin Market size. Clear representation of competitive analysis of key players by Design, price, financial position, product portfolio, growth strategies, and regional presence in the Phenolic Resin Market makes the report investor’s guide.
Phenolic Resin Market Overview:
The "Phenolic Resin Market" study gives a complete picture of the competition, including the market share and company profiles of the key competitors in the industry. The scope of the research includes a thorough investigation of the Phenolic Resin Market, as well as the reasons for variations in the industry's growth in various locations.
The Phenolic Resin Market is expected to reach US$ 20.28 Bn. in 2027, with a CAGR of 5.5% for the period 2021-2027, because of the high demand for phenolic from the various end-use industries.
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Market Scope:
The rise in dietary trend of consuming milk outside the home is propelling Post completion of market engineering, which included calculations for market statistics, market size estimations, market forecasts, market breakdown, and data triangulation, thorough primary research was done to acquire information and verify and validate important numbers. To perform market estimating and forecasting for the overall market segments and sub-segments described in this research, both top-down and bottom-up methodologies, as well as multiple data triangulation methods, were widely employed throughout the whole market engineering process. Extensive qualitative and quantitative analysis is also performed on all of the figures obtained during the whole market engineering process in order to provide essential information throughout the report.
Segmentation:
Based on Application: The phenolic resin market is sub-segmented into Wood adhesives, Foundry, Molding, Laminates, Insulation, Paper Impregnation, Coatings, and Others. Among these, Wood adhesives application is dominates the market and is expected to hold the continuous growth during the forecast period (2021-2027). This growth is mainly because of wood adhesive having a special properties such as water resistance, water diluting ability, excellent moisture resistance, and weather resistance. The Asia Pacific is the major market for the Phenolic Resin.
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Key Players:
Major players in the market are identified through secondary research and their market revenues are determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top manufacturers; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, CEOs, and marketing executives. The percentage splits, market shares, growth rate, and breakdowns of the markets are determined by using secondary sources and verified through primary sources. The biggest players in the Phenolic Resin market are as follows:
•Hexion Inc.
• Hitachi Chemical Co. Ltd.
• Sumitomo Bakelite Co. Ltd.
• BASF SE
• SI Group Inc.
• DIC Corporation Inc.
• Kolon Industries Inc.
• Shandong Laiwu new material Co. Ltd.
• Changshu South-East Plastic Co., Ltd.
• Mitsui Chemicals Inc.
• Georgia Pacific Chemicals LLC
• Prefere Resins
• Plastics Engineering Company
• RPM International Inc.
• KCC Corporation
• Altex Coatings Inc.
• Nippon Paint Marine Coatings Co., Ltd.
Regional Analysis:
Individual market-influencing elements and changes in market laws that influence present and future market trends are also included in the geographical overview of the Phenolic Resin market study. Current and future trends are examined in order to assess the entire market potential and uncover profitable trends in order to get a more stable footing. The geographical market assessment is based on the present environment and expected developments.
COVID-19 Impact Analysis on Phenolic Resin Market:
Due to a break in operations, end-user sectors where Phenolic Resin is used had a decline in growth from January to May in various countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India. This resulted in a large drop in the revenues of firms operating in these industries and, as a consequence, in demand for Phenolic Resin manufacturers, affecting the development of the Phenolic Resin market in 2020. End-user business demand for Phenolic Resin has dropped considerably as a result of lockdowns and a rise in COVID-19 incidents throughout the world.
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Key Questions Answered in the Phenolic Resin Market Report are:
Which segment had the largest share in the Phenolic Resin market in 2021?
What is the competitive landscape of the Phenolic Resin market?
Which are the key drivers aiding the Phenolic Resin market growth?
Which region has the maximum share in the Phenolic Resin market?
What will be the CAGR of the Phenolic Resin market during the forecast period (2022-2027)?
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