Phenolic Resin Market Surging with Business Partnerships & Mergers - Report by MarketsandMarkets
(PRWEB) November 22, 2014 -- The report published by MarketsandMarkets defines the global phenolic resin market in terms of value and volume for the time frame ranging from 2014 to 2019. It segments the global industry on the basis of its basic components and provides in-depth analysis of the growth drivers, restraints and revenue forecasts for this market.
Browse 99 market data tables and 111 figures spread through 207 slides and in-depth TOC on "Phenolic Resin Market".
http://www.marketsandmarkets.com/Market-Reports/phenolic-resin-market-177821389.html
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According to this report, the industry for phenolic resin and its derivatives is rapidly evolving since the past few years. As per the latest trends, the global phenolic resin market is dominated by several key industry players. Advanced business strategies like enterprise mergers, product innovations, new business ventures and such other practices are expected to drive the growth in this industry and help the enterprises to improve the market share. The key players covered in this report include Sumitomo Bakelite Co., Ltd (Japan), BASF SE (Germany), SI Group (U.S.), Momentive Specialty Chemicals Inc. (U.S.) and such other players. These along with the other top players in the global market are concentrating on rapid business expansion plan.
As explained in the report, most of the strong players in the phenolic resin market are looking out to expand their business across the most profitable pockets and emerging marketplaces. Regions like Latin America, Asia Pacific, Middle East, Central Europe, Eastern Europe, and Africa are some of the bustling industries for these players. The aforementioned companies are creating special accommodations for the introduction of new facilities, product placements and technological innovations in their existing systems. According to the report, this shifting focus is expected to drive the growth opportunities and revenue channels for the existing players in the market. The emerging regions like Asia Pacific, Latin America, and Middle East and Africa are projected to witness exciting opportunities during this course.
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According to the report, the key industry players have already started making hefty investments across the emerging economies thanks to the vital growth opportunities in these regions. They are undertaking the practices like partnerships and mergers on a large scale, especially with the small potential players. For instance, SI Group Inc. (U.S.) invested $30 million in the Nanjing Chemical Industry Park, China in order to build an additional and fully functional phenolic resin manufacturing site.
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Further, the rising joint ventures in the market are also helping the key companies to meet the rapidly changing consumer needs. This fact is also driving many small players to enter into partnerships with the big enterprises. For instance, the report highlights the merger between Kanoria Chemicals & Industries and Momentive Specialty Chemicals Inc. (U.S.). Both these companies entered into a joint venture. The primary motive of this is merger is to construct a new phenolic specialty resins plant in India. Under this partnership, Kanoria Chemicals is projected to transfer its manufacturing plant in Visakhapatnam to facilitate the merger. Momentive Specialty Chemicals on the other hand is projected to provide the technology supporting the specialty phenolic resins, hexamine and formaldehyde businesses.
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According to the report, adoption of different business strategies by the key players is expected to create potential business opportunities in the developed as well as developing economies. As a result, the researchers are expecting the global phenolic resin market to grow at a steady CAGR of 5.7% from 2014 to 2019. It expects the developing economies to continue providing vital prospects of growth and adoption in the years to come.
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