North America Phenolic resins Market
Phenolic resins are synthetic polymers obtained by the reaction of phenol or substituted phenol with formaldehyde. The North America Phenolic Resins market was valued at $3,225.4 million in 2012 and is expected to reach $7,505.6 million in 2019 with a growing CAGR of 4.8% from 2013. Wood adhesives will continue to have the largest share of the world market for phenolic resins and will drive phenolic resin consumption on a larger scale.
A phenol is an aromatic hydrocarbon, which means it contains a group of six carbons linked in a circular arrangement. Rapid construction growth in the developing region is impacting the demand of phenolic resin in the region such as China, India, U.S., etc. Because of its high mechanical strength, good heat resistance, flameretardant, low toxicity, low smoke and its property of getting blended with other polymers to achieve high performance it is widely used in molding compounds, wood adhesives, laminates, insulation, and other fields. Phenolic resins are used in plywood and in fibrous and granulated wood products. The developing regions of Central and South America and Central and Eastern Europe will experience the largest growth in these applications.
Demand for phenolic resins in North America is forecasted to grow at a CAGR of 3.0% between 2014 to 2019 in terms of volume. The growth will be supported by repair and remodeling building construction activity in the U.S., increased industrial activity in Mexico and a rebounding housing market in Canada.
The key countries covered in North America Phenolic resins Market are U.S., Mexico and Canada. The various applications include Wood Adhesives, Molding, Laminates, Insulation and others.
The various types studied include Novolac and Resol within the North America Phenolic resins market. Further, as a part of qualitative analysis, the North America Phenolic resins Market research report provides a comprehensive review of the important drivers, restraints, opportunities, and burning issues in the Phenolic resins market.
The North America Phenolic resins Market report also provides an extensive competitive landscape of the companies operating in this market. It also includes the company profiles of and competitive strategies adopted by various market players, including Momentive Specialty Chemicals Inc., Hitachi Chemical Co., Ltd, Sumitomo Bakelite Co., Ltd., SI Group, Inc., Shandong Laiwu Runda New Material Co., Ltd, Kolon Industries, Inc., DIC Corporation, Dujodwala Paper Chemicals Ltd, BASF SE, Changshu South-East Plastic Co., Ltd.
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- Key market developments for the leading players March, 2014 onwards
- Market share analysis for the leading companies in North America Phenolic resins Market
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