A recent study by Transparency Market Research (TMR) forecasts that the global phenolic resins market will grow at a CAGR of 5.6% between the years 2013 and 2019. TMR, a market intelligence company based in the United States, in its report says that the global phenolic resins market, valued at US$9.19 billion in 2012, will report a market value of US$13.36 billion by 2019. The report titled ‘Phenolic Resins Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019’ is available for sale on the company website.
Albany, NY -- (SBWIRE) -- 03/11/2015 -- This market research report states that the rising demand for phenolic resins can be attributed to the surging demand for phenolic molding compounds used extensively in the automotives market. Molding compounds are generally used for enhancing the efficiency of vehicles and are used in the production of suspension, seats, and bottom plates. These compounds are also used for manufacturing automobile tires. Phenolic resins refer to synthetic polymers. The reaction and interactivity between formaldehyde and phenol in the presence of heat gives rise to synthetic polymers. Some of the characteristic features of phenolic resins are low smoke toxicity, high moldability, high resistance to heat, light weight, and good tensile strength.
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According to this research report, the global phenolic resins market is segmented on the basis of product type, application scope, and geography. Based on product type, the global phenolic resins market is categorized into Novolac resins, Resol resins, and others. The manufacturing of Resol resins is carried out in basic conditions coupled with additional formaldehyde, and the manufacturing of Novolac resins is carried out in acidic conditions with extra amount of phenol. With a market share exceeding 48%, the global phenolic resins market was dominated by the segment of Resol resin in 2012. Much of the demand for Novolac resins is derived from the global markets of laminates and molded composites.
The prominent areas of application in this market are insulation, wood-adhesives, laminates, molding compounds, and others such as general adhesives coatings, friction materials, rubber adhesives, and abrasives.
Browse the full Phenolic Resins Market (Resol, Novolac and Others) for Wood-adhesives, Molding Compounds, Laminates, Insulation and Other Applications - Global Industry Analysis, Size, Share, Growth,Trends and Forecast, 2013 - 2019 report at http://www.transparencymarketresearch.com/phenolic-resins-market.html
From the regional perspective, the research report segments the global phenolic resins market into Asia Pacific, Europe, North America, and Rest of the World. In 2012, the largest share of the global phenolic resins market was held by Asia Pacific. The second largest share in this market was held by North America. The North America and Asia Pacific markets for phenolic resins together account for 65% of the overall global demand. The phenolic resins market in Rest of the World will witness robust growth during the forecast period owing to growing opportunities and greater application scope. The vendor landscape of the global phenolic resins market is characterized by fragmentation. Some of the prominent regional players dominating the market are Georgia Pacific Chemicals, BASF SE, Sumitomo Bakelite Co. Ltd., and Mitsui Chemicals Inc.
About Transparency Market Research
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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