Gulf Cooperation Council Phenolic Resins Market Size & Outlook
Gulf Cooperation Council phenolic resins market, 2019-2030 (US$M)
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Gulf Cooperation Council phenolic resins market highlights
- The Gulf Cooperation Council phenolic resins market generated a revenue of USD 484.4 million in 2023 and is expected to reach USD 683.9 million by 2030.
- The Gulf Cooperation Council market is expected to grow at a CAGR of 5.1% 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 484.4 million |
| Market revenue in 2030 | USD 683.9 million |
| Growth rate | 5.1% (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, Gulf Cooperation Council accounted for 3.4% 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 Middle East & Africa, South Africa phenolic resins market is projected to lead the regional market in terms of revenue in 2030.
- Gulf Cooperation Council is the fastest growing regional market in Middle East & Africa and is projected to reach USD 683.9 million by 2030.
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Phenolic Resins Market Scope
Phenolic Resins Market Companies
| Name | Profile | # Employees | HQ | Website |
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Gulf Cooperation Council 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 13.89% in 2023. Horizon Databook has segmented the Gulf Cooperation Council phenolic resins market based on novolac, resol covering the revenue growth of each sub-segment from 2019 to 2030.
Saudi Arabia has a large consumer base for phenolic resins accounting for the rising importance of the industrial sector coupled with government support to achieve strategic and economic goals. In addition, continuous infrastructure development, the establishment of the Saudi Industrial Development Fund (SIDF), and several other industrial support and initiatives undertaken by the government are expected to drive construction & manufacturing sector in the country, thereby propelling the demand for phenolic resins.
In addition, the UAE phenolic resins market is growing due to the increased demand for phenolic resins in wood adhesive applications in construction industry. Phenolic resin products including novolac and resol resins are used across various applications such as coatings, moldings, insulations, laminates, and others in the UAE, which is expected to boost the demand for phenolic resins over the forecast period.
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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 Gulf Cooperation Council phenolic resins market , including forecasts for subscribers. This country databook contains high-level insights into Gulf Cooperation Council phenolic resins market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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Gulf Cooperation Council phenolic resins market size, by product, 2019-2030 (US$M)
Gulf Cooperation Council Phenolic Resins Market Outlook Share, 2023 & 2030 (US$M)
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