According to a new market report published by Lucintel, the future of the South East Asian phenolic resin market looks promising with growth opportunities in various end use industries, including construction, transportation, electrical and electronics, furniture, industrial, and others. The South East Asian phenolic resin market is expected to reach an estimated CAGR of 4.7% from 2020 to 2025. The major drivers of growth for this market are increasing use of heat resistance, corrosion and chemical resistance materials in construction and transportation industry.
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In this market, wood adhesive, molding compounds, laminates, insulation, coating, paper impregnation, and others are the major applications. On the basis of its comprehensive research, Lucintel forecasts that the wood Adhesive segment is expected to remain the largest segment by value and volume. The use of phenolic resin is growing in wood adhesive applications where heat, pressure, water resistance, and other performance benefits are critical.
Within this market, resole phenolic resin and novolac phenolic resin are the major types. On the basis of comprehensive research, Lucintel forecasts that the resole phenolic resin segment is expected to remain the largest segment by value and volume. Increasing demand for resole phenolic resin is because novolac is not self-curing; it requires an extra curing agent, whereas resole is self curable without an additional catalyst.
In this market, construction, transportation, electrical and electronics, furniture and industrial segments are the major end-use industry. On the basis of its comprehensive research, Lucintel forecasts that the construction segment is expected to remain the largest segment by value and volume. Demand for heat resistant material, low-cost material, and manufacturing of high-performance composites is driving phenolic resin market.
Thailand is expected to remain the largest region by value and volume; Thailand is also expected to experience the highest growth over the forecast period due to growth in end-use industries such as residential and commercial activities, increasing automotive production, and growing electrical and electronics demand.
Emerging trends, which have a direct impact on the dynamics of the industry, include the use of bio-based phenolic resin and rosin modified phenolic resin. Sumitomo, Thai GCI Resitop, AICA KOGYO, Asta Chem, Malayan Adhesives and Chemicals, Formica Chemicals, ITOCHU Group, Pt Intanwijaya Internasional Tbk, Al Asia are among the major suppliers of the phenolic resin market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the South East Asia phenolic resin market by application, type, end-use industry, region, and country. Lucintel has prepared a comprehensive research report entitled, “Growth Opportunities in the South East Asian Phenolic Resin Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions.
The study includes a forecast for southeast Asian phenolic resin market by application, type, end-use industry, region, and the country as follows:
By application (Value ($M) and Volume (M lbs) shipment analysis for 2014 – 2025):
- Wood Adhesive
- Molding Compounds
- Paper Impregnation
By type (Value ($M) and Volume (M lbs) shipment analysis for 2014 – 2025):
- Resol Phenolic Resin
- Novolac Phenolic Resin
By end use industry (Value ($M) and Volume (M lbs) shipment analysis for 2014 – 2025):
- Electrical and Electronics
By region (Value ($M) and Volume (M lbs) shipment analysis for 2014 – 2025):
This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/southeast-asian-phenolic-resin-market.aspx or email@example.com.
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries.
For further information, visit www.lucintel.com.
This report answers the following 11 key questions:
Q.1 What are some of the most promising, high-growth in South East Asian phenolic resin market by application (wood adhesive, molding compounds, laminates, insulation, coating, paper impregnation, and others), by type (resol phenolic resin and novolac phenolic resin), by end-use industry (construction, transportation, electrical and electronics, furniture, and others) and country (Thailand, Singapore, Malaysia, Indonesia, Philippines, Vietnam, and others )?
Q.2 Which product segments will grow at a faster pace and why?
Q.3 Which region will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges in the market?
Q.5 What are the business risks and competitive threats in this market?
Q.6 What are emerging trends in this market and reasons behind them?
Q.7 What are some changing demands of customers in the market?
Q.8 What are the new developments in the market and which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products in this area and how great a threat do they pose for loss of market share through product substitution?
Q.11 What M&A activities have transpired in the last 5 years in this market and what impact have these had on the industry?
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