The North America phenolic resin market size reached a value of approximately USD 3.18 billion in 2022. The market is further expected to grow at a CAGR of 5.30% between 2023 and 2028, reaching a value of USD 4.31 billion by 2028.
Phenolic resins are synthetic resins that are produced by the reaction process of phenol with formaldehyde in a condensation reaction while a catalyst is present. They are categorised as thermoset polymers because they cannot be remelted like thermoplastics and cure in a different form from their uncured state. The majority of phenolic resins are opaque and black in colour. Phenolic resins are typically used in fillers due to it being brittle in nature, and are among the oldest thermosetting resins, other than polyester, urethane, melamine and epoxy.
Based on product, the market is segmented into resol resins, and novolac resins, among others. On the basis of application, the market is divided into paper, fabric, coatings, laminates, filters, and gypsum board, among others. By country, the North America phenolic resin market is categorised into the United States and Canada.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the North America phenolic resin market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
Resol is a preferred phenolic resin and accounts for a sizable share in the North America phenolic resin market. They are commonly used in several end use industries as they are cost effective, have enhanced properties. and can be used in various applications. Products like exterior plywood, engineered woods, adhesives, and LCL (laminated composite lumber) are some of the applications of resol resins that are helping the North American phenolic resin market grow expeditiously. Resol resins are also widely used in the bonding and cooling of building materials. Meanwhile, the demand for novolacs in the North America phenolic resin market has increased due to its multiple uses like tire tackifier, binder for carbon bonded refractories, and as a curing agent for epoxy resins.
Laminate applications account for a significant share of the North America phenolic resin market due to their properties of being moisture resistant, lightweight, and with high dielectric strength. The furniture industry increasingly uses laminates to enhance its products, improving both the aesthetic appeal and properties of furniture products. As customers are highly focused on the interior designs of their homes, the demand for decorative and easy to maintain laminates is likely to increase further, bolstering the demand for the phenolic resin market. Phenolic resins are also commonly used in the production of paper because they are helpful in increasing the strength, stiffness, and the water resistance of paper.
Arclin, Inc., in Georgia, United States, and established in 1992, is a leading provider of resin-based systems and products. The company deals with chemicals and products like bonding agents and surface solutions for buildings. They offer a vast variety of products to choose from like furniture, flooring, building, wood working and automotive industries. Arclin also provides decorative materials for homes like melamine, laminates, and foils.
Ashland, Inc. is a provider and distributer of diversified chemical and thermoplastic resins operating from Delaware, United States. Founded in 1924, Ashland is a specialty materials company that provides services in sectors such as pharmaceuticals, construction, food, and nutraceuticals. The core business units of the company comprise of life sciences, speciality additives, intermediates, and personal care.
Akrochem Coporation, located in Akron, Ohio and founded in 1929, is a chemical distributor for the rubber industry and also provides raw materials. Akrochem offers a range of quality materials that are backed by the company’s technical expertise and innovation. They sell products like antifoams, emulsions, fire retardants, mineral fillers, sulphurs, and waxes. Akrochem also specialises in the production of rubber, plastic, paint, coatings, and lubricants.
Other market players include Sumitomo Bakelite North America Holding, Inc., DIC Corporation, Capital Resin Corporation, SI Group, Inc., LRBG Chemical, Inc., and Bakelite Synthetics Group, among others.
|Scope of the Report||
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|Breakup by Product||
|Breakup by Application||
|Breakup by Region||
|Trade Data Analysis||
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 North America
7 Opportunities and Challenges in the Market
8 North America Phenolic Resin Market Analysis
8.1 Key Industry Highlights
8.2 North America Phenolic Resin Historical Market (2018-2022)
8.3 North America Phenolic Resin Market Forecast (2023-2028)
8.4 North America Phenolic Resin Market by Product
8.4.1 Resol Resins
220.127.116.11 Market Share
18.104.22.168 Historical Trend (2018-2022)
22.214.171.124 Forecast Trend (2023-2028)
8.4.2 Novolac Resins
126.96.36.199 Market Share
188.8.131.52 Historical Trend (2018-2022)
184.108.40.206 Forecast Trend (2023-2028)
8.5 North America Phenolic Resin Market by Application
220.127.116.11 Market Share
18.104.22.168 Historical Trend (2018-2022)
22.214.171.124 Forecast Trend (2023-2028)
126.96.36.199 Market Share
188.8.131.52 Historical Trend (2018-2022)
184.108.40.206 Forecast Trend (2023-2028)
220.127.116.11 Market Share
18.104.22.168 Historical Trend (2018-2022)
22.214.171.124 Forecast Trend (2023-2028)
126.96.36.199 Market Share
188.8.131.52 Historical Trend (2018-2022)
184.108.40.206 Forecast Trend (2023-2028)
220.127.116.11 Market Share
18.104.22.168 Historical Trend (2018-2022)
22.214.171.124 Forecast Trend (2023-2028)
8.5.6 Gypsum Board
126.96.36.199 Market Share
188.8.131.52 Historical Trend (2018-2022)
184.108.40.206 Forecast Trend (2023-2028)
8.6 North America Phenolic Resin Market by Country
8.6.1 United States
220.127.116.11 Market Share
18.104.22.168 Historical Trend (2018-2022)
22.214.171.124 Forecast Trend (2023-2028)
126.96.36.199 Market Share
188.8.131.52 Historical Trend (2018-2022)
184.108.40.206 Forecast Trend (2023-2028)
9 Market Dynamics
9.1 SWOT Analysis
9.2 Porter’s Five Forces Analysis
9.2.1 Supplier’s Power
9.2.2 Buyer’s Power
9.2.3 Threat of New Entrants
9.2.4 Degree of Rivalry
9.2.5 Threat of Substitutes
9.3 Key indicators for Demand
9.4 Key indicators for Price
10 Value Chain Analysis
11 Price Analysis
12 Trade Data Analysis (HS Code: 390940)
12.1 Major Exporting Countries
12.1.1 By Value
12.1.2 By Volume
12.2 Major Importing Countries
12.2.1 By Value
12.2.2 By Volume
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 Sumitomo Bakelite North America Holding, Inc.
220.127.116.11 Company Overview
18.104.22.168 Product Portfolio
22.214.171.124 Demographic Reach and Achievements
13.2.2 Arclin, Inc.
126.96.36.199 Company Overview
188.8.131.52 Product Portfolio
184.108.40.206 Demographic Reach and Achievements
13.2.3 DIC Corporation
220.127.116.11 Company Overview
18.104.22.168 Product Portfolio
22.214.171.124 Demographic Reach and Achievements
13.2.4 Capital Resin Corporation
126.96.36.199 Company Overview
188.8.131.52 Product Portfolio
184.108.40.206 Demographic Reach and Achievements
13.2.5 Ashland Inc.
220.127.116.11 Company Overview
18.104.22.168 Product Portfolio
22.214.171.124 Demographic Reach and Achievements
13.2.6 SI Group, Inc.
126.96.36.199 Company Overview
188.8.131.52 Product Portfolio
184.108.40.206 Demographic Reach and Achievements
13.2.7 LRBG Chemicals Inc.
220.127.116.11 Company Overview
18.104.22.168 Product Portfolio
22.214.171.124 Demographic Reach and Achievements
13.2.8 Akrochem Corporation
126.96.36.199 Company Overview
188.8.131.52 Product Portfolio
184.108.40.206 Demographic Reach and Achievements
13.2.9 Bakelite Synthetics Group
220.127.116.11 Company Overview
18.104.22.168 Product Portfolio
22.214.171.124 Demographic Reach and Achievements
14 Key Trends and Developments in the Market
List of Key Figures and Tables
1. North America Phenolic Resin Market: Key Industry Highlights, 2018 and 2028
2. North America Phenolic Resin Historical Market: Breakup by Product (USD Million), 2018-2022
3. North America Phenolic Resin Market Forecast: Breakup by Product (USD Million), 2023-2028
4. North America Phenolic Resin Historical Market: Breakup by Application (USD Million), 2018-2022
5. North America Phenolic Resin Market Forecast: Breakup by Application (USD Million), 2023-2028
6. North America Phenolic Resin Historical Market: Breakup by Country (USD Million), 2018-2022
7. North America Phenolic Resin Market Forecast: Breakup by Country (USD Million), 2023-2028
8. Major Exporting Countries by Value
9. Major Importing Countries by Value
10. Major Exporting Countries by Volume
11. Major Importing Countries by Volume
12. North America Phenolic Resin Market Structure
In 2022, the market reached an approximate value of USD 3.18 billion.
The market is expected to grow at a CAGR of 5.30% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach USD 4.31 billion by 2028.
The major market drivers are the increasing usage of phenolic resins in various end-user industries, growing demand for laminates, and rising production of automotive filters with phenolic resins.
The key trends of the market include rising demand for decorative furnishings, technological advancements in phenolic resin, growing construction sector in the region, and increasing use in making circuit boards.
Phenolic resins are thermoset polymers that are synthesised by the reaction of phenol with formaldehyde.
The primary phenolic resin products are resol resins, and novolac resins, among others.
The various applications of the phenolic resin market in North America include paper, fabric, coatings, laminates, filters, and gypsum board, among others.
The major countries in the phenolic resin market in North America are the United States and Canada.
The key market players in North America phenolic resin market, according to the report, are Sumitomo Bakelite North America Holding, Inc., Arclin, Inc., DIC Corporation, Capital Resin Corporation, Ashland Inc., SI Group, Inc, LRBG Chemical, Inc., Akrochem Corporation, and Bakelite Synthetics Group, among others.
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