As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
The market for phenolic resin is expected to be driven by the lightweight trend witnessed in the automotive industry. This can be attributed to the rising replacement of metal components with plastic or fibre-based alternatives. The use of phenolic acid helps reduce the weight, which further increases the efficiency of fuel, thus, ceramics and metals in the automotive industry are now replaced with the newly developed phenolic moulding compounds, like long glass fibre or carbon fibre reinforced phenolic moulding compounds. Further, the automotive sector is constantly innovating to make the products more fuel efficient, which involves the reduction in vehicle body weight and reducing the weight of friction parts. This will lead to the adoption of phenolic resins that exhibit exceptional heat resistance, as the frictional load applied to the friction element is going to increase.
The market is further expanding owing to new developments by the industry key players, such as Ashland Global Holdings Inc. (NYSE: ASH) and Hitachi Chemical Co., Ltd. Ashland Global Holdings Inc produces Arofene™ phenolic resins that are used as media saturants offering heat, chemical, and water resistance as well as other specialised properties including frictional coefficient. The product is also used as prepreg resins for laminating applications as base resins or fortifiers for adhesives or as a resin used to adhere sizing to paper in abrasive applications.
Market Analysis by Type, Application, End Use, and Region:
Key Findings of the Report:
Key Offerings of the Report:
Ashland Global Holdings Inc., DIC Corporation, Hexcel Corporation, Kolon Industries Inc., Hitachi Chemical Co., Ltd., and Sumitomo Bakelite Co., Ltd., among others, are the key players in the global phenolic resin market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.
Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.
EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.
Expert Market Research
US & Canada Phone no: +1-415-325-5166
UK Phone no: +44-702-402-5790
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.