Canada Phenolic Resins Market Size & Outlook, 2023-2030
Canada phenolic resins market, 2019-2030 (US$M)
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Canada phenolic resins market highlights
- The Canada phenolic resins market generated a revenue of USD 1,231.9 million in 2023 and is expected to reach USD 1,804.0 million by 2030.
- The Canada market is expected to grow at a CAGR of 5.6% 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.
Phenolic resins market data book summary
| Market revenue in 2023 | USD 1,231.9 million |
| Market revenue in 2030 | USD 1,804.0 million |
| Growth rate | 5.6% (CAGR from 2023 to 2030) |
| Largest segment | Novolac |
| Fastest growing segment | Resol |
| Historical data | 2019 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Canada accounted for 8.6% of the global phenolic resins market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. phenolic resins market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 2,037.6 million by 2030.
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Phenolic Resins Market Scope
Phenolic Resins Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada 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 48.47% in 2023. Horizon Databook has segmented the Canada phenolic resins market based on novolac, resol covering the revenue growth of each sub-segment from 2019 to 2030.
Canada significantly contributes to the demand for phenolic resins owing to its growing construction industry. Factors such as increasing government investment in public & renewable energy infrastructure coupled with changing consumer buying behavior are expected to fuel the growth of construction industry in the country. In addition, government initiatives such as the Made in Canada, New Building Canada Plan (NBCP), and Affordable Housing Initiative (AHI) are expected to propel the demand for phenolic resins in construction industry over the forecast period. Consumer goods industry in Canada is attracting significant investments in both public and private sectors.
According to the Canadian government, in 2021, consumer goods industry accounted for one third of Canada’s manufacturing GDP and 40% of the country’s employment. The country is characterized by consumer demand, product safety education, and cosmetic information, thereby offering lucrative growth opportunities for the manufacturers of consumer goods products in the country. This is anticipated to fuel the demand for phenolic resins in various applications including wood adhesives, molding, insulating, paper impregnation, and others.
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Our clientele includes a mix of phenolic resins market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada phenolic resins market , including forecasts for subscribers. This country databook contains high-level insights into Canada phenolic resins market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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Canada phenolic resins market size, by product, 2019-2030 (US$M)
Canada Phenolic Resins Market Outlook Share, 2023 & 2030 (US$M)
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