Insight by Abdul Wasay, Chief Operating Officer at The Business Research Company
In response to fluctuating tariffs and geopolitical trade developments, the Phenolic Resins Market Outlook 2025 analyses how businesses are adapting through supply chain diversification and strategic sourcing.
What Is the Projected Market Size of the Phenolic Resins Industry in 2024 and 2025?
The market size for phenolic resins has significantly increased in the past few years. The market was at $14.17 billion in 2024 and is projected to reach $14.88 billion in 2025, with a compound annual growth rate (CAGR) of 5.0%.
What Is the Projected Market Size of the Phenolic Resins Market in 2029?
The Phenolic Resins market is anticipated to expand, reaching a value of $19.69 billion by 2029. The estimated compound annual growth rate (CAGR) for this period is 7.3%.
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What Are the Key Drivers of Phenolic Resins Market Growth?
The key Drivers in the phenolic resins market are:
• Growing demand for lightweight, eco-friendly synthetic structures in the automotive industry
• Use of phenolic resins in manufacturing lightweight automotive parts to improve fuel efficiency
• The push for weight reduction in automobiles to increase fuel efficiency
• Potential fuel savings resulting from the use of lightweight materials in the U.S. automotive fleet.
What Are the Primary Segmentation Categories in the Phenolic Resins Market?
The phenolic resinsmarket covered in this report is segmented –
1) By Type: Resol, Novolac, Others Types
2) By Application: Wood Adhesives, Molding, Insulation, Laminates, Paper Impregnation, Friction Materials, Refractory Materials, Other Applications
3) By End-User: Building and Construction, Furniture, Automotive, Electrical and Electronics, Other End Users
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What Are the Major Trends Shaping the Phenolic Resins Market in 2025 and Beyond?
The key trends in the phenolic resins market are:
• Companies are developing innovative product lines like the REZIANCE brand portfolio to provide reliable services.
• The creation of high-performance phenolic resins is a major emerging trend.
• Various industries including friction, abrasives, refractories, impregnation, wood, paints, and coatings are increasingly utilizing these phenolic resins.
• The release of specialty solutions alongside phenolic resins is also shaping the market's future.
Who Are the Emerging Players in the Phenolic Resins Market?
The key players in the phenolic resins market are:
• Dainippon Ink and Chemicals Corporation
• Hexion LLC
• Chang Chun Plastics Co. Ltd.
• Mitsui Chemicals Inc.
• Hitachi Chemical Co. Ltd.
• Prefere Resins Holding GmbH
• Kolon Industries Inc.
• SI Group Inc.
• Sumitomo Bakelite Co. Ltd.
• BASF SE
• Arizona Chemical Company LLC
• Kangnam Chemical Co. Ltd.
• Seiko PMC Corporation.
• Bakelite Synthetics
• Jinan Shengquan Group Share Holding Co. Ltd.
• Ashland Global Holdings Inc.
• Georgia-Pacific Chemicals LLC
• Hexcel Corporation
• Akrochem Corporation
• Arclin Inc.
• Kraton Corporation
• American Micro Industries Inc.
• Momentive Specialty Chemicals Inc.
• Plenco Closures Pvt. Ltd.
• Red Avenue Chemical Co. Ltd.
• Shandong Laiwu Runda New Material Co. Ltd.
• 3M Company
• Capital Resin Corporation
• Kessler Chemicals
• KPL International Ltd.
• PTTGC America LLC
• Phenolic Associates Inc.
Which Regions Are Leading the Growth in the Global Phenolic Resins Market?
North America was the largest region in the phenolic resins market in 2024
