Global Phenolic Resins Market Overview – Market Growth Analysis And Key Drivers
The Phenolic Resins Global Market Report 2023, provides comprehensive information on the phenolic resins market across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
Learn More On The Phenolic Resins Market’s Growth:
https://www.thebusinessresearchcompany.com/report/phenolic-resins-global-market-report
As per The Business Research Company’s Phenolic
Resins Global Market Report 2023, the global phenolic resins market size grew
from $12.45 billion in 2022 to $13.3 billion in 2023 at a compound annual
growth rate (CAGR) of 6.8%. The Russia-Ukraine war disrupted the chances of
global economic recovery from the COVID-19 pandemic, at least in the short
term. The war between these two countries has led to economic sanctions on
multiple countries, a surge in commodity prices, and supply chain disruptions,
causing inflation across goods and services, and affecting many markets across
the globe. The market size of global phenolic resins is expected to grow to $16.63 billion in 2027
at a CAGR of 5.7%.
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A Free Sample Of The Report (Includes Graphs And Tables):
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Technological advancements are a key trend
gaining popularity in the phenolic resin market. Major companies operating in
the phenolic resin market are focused on developing new technological solutions
to strengthen their position in the market. For instance, in September 2020,
Allnex, a Germany-based producer of industrial coating resins and additives for
various industries, launched PHENODUR PR 616/65B, a new, eco-friendly phenolic
resin for interior and exterior coatings. The resins are made using technology
that contains neither Bisphenol-A nor Bisphenol-F and a very low free monomer
content and the level of free formaldehyde thus making the resin eco-friendly.
The phenolic
resins market is segmented:
North America was the largest region in the
phenolic resins market in 2022.
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