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The global Phenolic Resins Market size is expected to reach USD 20.8 billion by 2030, registering a CAGR of 5.5% according to a new report by Grand View Research, Inc. Rising usage of phenolic resins across various applications including wood adhesives, molding, insulations, laminates, paper impregnation, coatings, and other applications such as abrasives, composites, carbon binders, friction materials, sound-roof bonding felt, and tires & rubbers are likely to present lucrative opportunities for phenolic resins during the forecast period.
Novolac resin, a type of phenolic resin, is ideal for making automotive parts like suspension, seats, bottom plates, tires, brake pistons, brake block & pads, brake linings, and clutch facing because it has excellent impact resistance, high strength, fire resistance, thermal resistance, chemical resistance, thermal stability, flexibility, and surface hardness.
Apart from global players in the industry, a few small and medium-sized regional firms also had an impact on the market. Global players are engaged in fierce competition with regional competitors who have strong distribution networks and in-depth knowledge of phenolic resin suppliers and associated laws.
Related Press Release@ Phenolic Resins Market Report
Phenolic Resins Market Report Highlights
Request a Free Consultation@ https://www.grandviewresearch.com/request-free-consultation/707/rfc
List of Key Players in the Phenolic Resins Market
Phenolic Resins Market Segmentation
Grand View Research has segmented the phenolic resins market on the basis of product, application, other applications, and region:
Phenolic Resins Product Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)
Phenolic Resins Application Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)
Phenolic Resins Other Applications Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)
Phenolic Resins Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)
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