Phenolic Resin Market worth $19.3 Billion by 2019 - New Report by MarketsandMarkets
(PRWEB) May 01, 2014 -- The report, "Phenolic Resin Market, by Type (Resol and Novolac) and by Application (Wood Adhesive, Molding, Laminates, Insulation, and Others) – Global Trends & Forecast to 2019" ,defines and segments the global phenolic resins market with an analysis and forecast for types, and applications by volume as well as value.
Browse 99 market data tables and 111 figures spread through 207 slides and in-depth TOC on "Phenolic Resin Market – Global Trends & Forecast to 2019".
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"Asia-Pacific, North America and Europe are the key markets for Phenolic Resins"
Asia-Pacific, North America, and Europe dominated the phenolic resins market in 2013 and accounted for over 90% of the market, by volume and value. The developing regions dominate the phenolic resins market because of the rapid development of the construction and housing industry, auto industry, and electronic consumer goods, demand to the phenolic resin increased in molding, casting, refractory materials, electrical materials, electronics and other new areas. Country-wise, China is the top most consumer of phenolic resins product globally and is also the largest market for phenolic resins products growing at a CAGR higher than the global average till 2019. U.S is the largest phenolic resins consumer for wood adhesives in the world. Asia-Pacific is expected to witness the fastest growth rate by 2019. The market in Asia-Pacific region is experiencing increasing growth because of phenolic resin consumption for molding compounds will grow primarily in China, India, and other Asian countries as more molding operations start up in the region.
"Wood Adhesives is the topmost application segment and Resol dominates as the key type in the Phenolic Resins market"
While wood adhesives take topmost positions in the phenolic resins market with around 32.0% share by value in 2013. The fastest growth rate till 2019 in the phenolic resins market is expected to come from applications such as wood adhesives, and molding. Resol dominates the phenolic resins market by type in terms of volume and value.
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