Kenneth Research has evaluated the current market opportunities in Phenolic Resin Market in the healthcare industry for the forecast period 2022-2031, which also includes the ongoing industry trends and innovations that will help industry players to attain their business targets. Apart from that, the inclusive data on market size, market share and forecast, growth opportunities and challenges for the market players, along with the worldwide analysis on regions- North America, Latin America, Europe, Asia Pacific and Middle East & Africa, has also been provided in the report.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Market Products.
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The global market is segmented by type into resol, and novolac, out of which, novolac segment is anticipated to hold the major share over the forecast period owing to their wide range of applications in electronics, construction, automotive, and paints.
Geographically, the market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, the market in Asia Pacific is estimated to witness significant growth over the forecast period. The factors driving the market growth in the region are high consumption of phenolic resins from end users such as consumer electronics, transportation, and furniture.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Enhanced Properties of Phenolic Resin for Reinforcing Rubber Products and Tires to Boost the Market Growth
Enhanced properties of phenolic resins, such as good friction material with superior heat resistance and good adhesive performance, high moldability, mechanical strength, low toxicity of smoke, and ability to blend with polymers, increase their for reinforcing rubber products and tires, electrical insulation coatings, and bonded and coated abrasives. This is anticipated to drive the growth of the market during the forecast period. Additionally, growing metal fabrication & automotive and industrial machinery industry is further expected to boost the market growth in upcoming years.
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However, dependency on petroleum feed stock, and environmental concerns related to the production of phenolic resins are expected to operate as key restraints to the growth of the global phenolic resin market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global phenolic resin market which includes company profiling of Allnex GMBH, ASAHI AV Europe GmbH, ASK Chemicals, Bakelite Synthetics, Gunei Chemical Industry Co., Ltd., Kolon Industries Inc., KRATON CORPORATION, Prefere Resins Holding GmbH, SEIKO PMC CORPORATION, SBHPP, and others.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global phenolic resin market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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Kenneth Research is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision in order to avoid future uncertainties.
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