Asia Pacific Phenolic Resins Market Size & Outlook
Asia Pacific phenolic resins market, 2019-2030 (US$M)
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Asia Pacific phenolic resins market highlights
- The Asia Pacific phenolic resins market generated a revenue of USD 4,409.0 million in 2023.
- The market is expected to grow at a CAGR of 5.9% from 2024 to 2030.
- In terms of segment, novolac was the largest revenue generating product in 2023.
- Resol is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, China is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 4,409.0 million |
| Market revenue in 2030 | USD 6,597.7 million |
| Growth rate | 5.9% (CAGR from 2023 to 2030) |
| Largest segment | Novolac |
| Fastest growing segment | Resol |
| Historical data covered | 2019 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Novolac, Resol |
| Key market players worldwide | DIC Corp, Kolon Industries, Sumitomo Corp, Hexcel Corp, Georgia-Pacific, Kraton Performance Polymers, Momentive, Arkema SA, Silvergate Capital Corp Class A |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 30.8% of the global phenolic resins market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 6,597.7 million by 2030.
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Phenolic Resins Market Scope
Phenolic Resins Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific phenolic resins market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to phenolic resins market will help companies and investors design strategic landscapes.
Novolac was the largest segment with a revenue share of 18.09% in 2023. Horizon Databook has segmented the Asia Pacific phenolic resins market based on novolac, resol covering the revenue growth of each sub-segment from 2019 to 2030.
Asia Pacific dominated the global phenolic resins market in 2021 and is expected to witness significant growth over the forecast period owing to the strong economic development coupled with substantial investment in various end-use industries such as building & construction, automotive, electrical & electronics, and furniture.
Rising construction activities and growing product demand from automotive industry in emerging countries such as India, Japan, and South Korea are expected to drive the phenolic resins market over the forecast period.
Furthermore, the easy availability of raw materials has provided a huge opportunity for the use of phenolic resin-based products in various applications such as wood adhesives, molding, insulating, laminates, coatings, and others. Low labor cost in emerging nations of Asia Pacific has attracted many foreign investors to set up their manufacturing facilities in the region.
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Target buyers of Asia Pacific phenolic resins market databook
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Our clientele includes a mix of phenolic resins market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific phenolic resins market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific phenolic resins market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific phenolic resins market size, by country, 2019-2030 (US$M)
Asia Pacific Phenolic Resins Market Outlook Share, 2023 & 2030 (US$M)
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