The global phenolic resins market is projected to reach USD 16.0 billion by 2025, according to a new report by Grand View Research, Inc. Technological advancements have fostered the development of unique heat shields with ablative phenolics for aerospace applications, leading to greater market share in recent years.
Development of lignin and corn-based renewable feedstock have also presented new growth avenues in the industry. Increasing awareness regarding resource conservation and the implementation of stringent sustainability standards has positively impacted green materials demand, encouraging manufacturers to integrate such raw materials into their products. Technological advancements have fostered novel processing methods that conserve greater amount of resources while producing phenolics, compelling new entrants to invest high in capital funds to maintain competitive margins in the industry. Novolac emerged as the dominant product segment, occupying nearly 50% of the volume share in 2015. These resins are increasingly being designed for use as hardeners or curing agents in epoxy applications to meet the demand for laminates, adhesives, molding materials, and coatings. The segment is expected to grow at around 5.2% CAGR from 2016 to 2025. Full Research Report On Global Phenolic Resins Market By Grand View Research: www.grandviewresearch.com/industry-analysis/phenolic-resins-market Further key findings from the study suggest:
www.grandviewresearch.com/industry/plastics-polymers-and-resins Grand View Research has segmented the global phenolic resins market on the basis of product, application & region: Phenolic Resins Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
www.grandviewresearch.com/press-release/global-phenolic-resins-market 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. For More Information: www.grandviewresearch.com
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