San Francisco, 14 February 2019: The Report North America Phenolic Resin Market Analysis By Product (Resol, Novolac), By
Application (Impregnation (Papers, Fabrics, Laminates, Coatings, Filters &
Gypsum Board), Wood Adhesives, Molding Compounds, Laminates, Abrasives,
Insulation, Rubber) And Segment Forecasts To 2024
North America phenolic resin market is expected to reach USD 4.20 billion by 2024, according
to a new report by Grand View Research, Inc. Phenolic resins are increasingly
being used in application such as wood adhesives, and laminates & coatings.
These application segments are further driven by construction activities;
therefore, an increase in housing starts and commercial construction projects
are touted to drive demand in the future.
The requirement for heat resistant &
flame retardant compounds in automotive & aircraft manufacturing is also
likely to present opportunities for the industry growth in future.
Additionally, the products’ exceptional chemical & physical properties such
as high tensile strength, low toxicity & easy blending make it ideal for
ablators, insulative materials, coatings, and other products.
Resols emerged as the leading product
segment with nearly 50% volume share in 2015. Their usage as adhesives,
reinforcing agents, and binders is a key driving factor for the segment growth.
In terms of consumption, Mexico offers greater opportunities for resols, with
its growth projected at 3% from 2016 to 2024.
Access Research Report of North America Phenolic Resin Market
@ www.grandviewresearch.com/industry-analysis/north-america-phenolic-resin-market
Further key findings from the report suggest:
· North America Phenolic Resin Market demand
was 1,255.5 kilo tons in 2015 and is expected to exceed 1,600 kilo tons by
2024, growing at an estimated CAGR of 3.4% from 2016 to 2024.
· Aqueous resol solutions are widely utilized
for chipboard bonding applications owing to their high moisture resistance as
compared to other urea based adhesives.
· Impregnation applications accounted for
over 20% of the overall volume in 2015. Impregnated laminates dominate the
segment and is driven by high demand for decorative & high pressure
laminates.
· Molding compounds and insulation
applications collectively accounted for nearly 30% of the overall consumption
in 2015.
· High demand for heat-resistant consumer
electronics & automotive components is likely to boost consumption in
molding compounds & insulation applications.
· The U.S. was the leading regional market
and accounted for over 70% of the total market volume in 2015.
· High demand for resins from several major
end-use industries such as construction, automotive and electrical &
electronics is fostering industry growth in the U.S.
· Mexico is projected to be the fastest
growing market in North America and is characterized by high demand for novolac
resins.
· Major industry participants include Owens
Corning, Arclin, Inc., Olympic Panel, Hardwoods, Inc., America Micro
Industries, Inc., Ashland, Inc., DIC Corporation, Hexcel Corporation and Kolon
Industries.
Browse more reports of this category by Grand View Research
at: www.grandviewresearch.com/industry/chemicals-and-materials
Grand View Research has segmented the North
America Phenolic Resin Market on the basis of product, application and region:
North America Phenolic Resins Product
Outlook (Volume, Kilo Tons; Revenue USD Million, 2014 - 2024)
·
Resol
·
Novolac
·
Others
North America Phenolic Resins Application
Outlook (Volume, Kilo Tons; Revenue USD Million, 2014 - 2024)
·
Impregnation
·
Wood Adhesives
·
Molding Compounds
·
Abrasives
·
Insulation
·
Rubber
·
Others
North America Phenolic Resins Regional
Outlook (Volume, Kilo Tons; Revenue USD Million, 2014 - 2024)
·
U.S.
·
Canada
·
Mexico
Access Press Release of
North America Phenolic Resin Market@ www.grandviewresearch.com/press-release/north-america-phenolic-resin-market-analysis
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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