Europe Phenolic Resins Market Size & Outlook, 2023-2030
Europe phenolic resins market, 2019-2030 (US$M)
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Europe phenolic resins market highlights
- The Europe phenolic resins market generated a revenue of USD 2,987.4 million in 2023.
- The market is expected to grow at a CAGR of 5.3% 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, Germany is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 2,987.4 million |
| Market revenue in 2030 | USD 4,297.9 million |
| Growth rate | 5.3% (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, Europe region accounted for 20.9% 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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Europe 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 19.01% in 2023. Horizon Databook has segmented the Europe phenolic resins market based on novolac, resol covering the revenue growth of each sub-segment from 2019 to 2030.
Europe is one of the largest consumers of phenolic resins in the world owing to high demand for them from the automotive, electrical & electronics, packaging, and construction sectors. Phenolic resins are used in various applications in each industry owing to their versatility, ease of molding, and ability to be developed into any desired shape.
Automobile manufacturers prefer phenolic resin molding compounds for manufacturing vehicle components as these resins help them in enhancing the fuel efficiency and fire safety of their vehicles. Moreover, the demand for compact fuel-efficient vehicles.
Europe has witnessed a rise owing to a surge in gasoline and diesel prices and the tax imposed on the purchase of fossil fuel-based vehicles in the region. This has forced consumers in Europe to consider compact vehicles that provide better fuel efficiency than large-sized vehicles.
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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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Horizon Databook provides a detailed overview of continent-level data and insights on the Europe phenolic resins market , including forecasts for subscribers. This continent databook contains high-level insights into Europe phenolic resins market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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Europe phenolic resins market size, by country, 2019-2030 (US$M)
Europe Phenolic Resins Market Outlook Share, 2023 & 2030 (US$M)
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