India Phenolic Resins Market Size & Outlook, 2023-2030
India phenolic resins market, 2019-2030 (US$M)
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India phenolic resins market highlights
- The India phenolic resins market generated a revenue of USD 1,233.0 million in 2023 and is expected to reach USD 1,854.0 million by 2030.
- The India market is expected to grow at a CAGR of 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 1,233.0 million |
| Market revenue in 2030 | USD 1,854.0 million |
| Growth rate | 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, India 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 Asia Pacific, China phenolic resins market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 2,012.3 million by 2030.
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Phenolic Resins Market Scope
Phenolic Resins Market Companies
| Name | Profile | # Employees | HQ | Website |
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India 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 18.05% in 2023. Horizon Databook has segmented the India phenolic resins market based on novolac, resol covering the revenue growth of each sub-segment from 2019 to 2030.
The demand for phenolic resins in the country has been growing rapidly owing to the flourishing construction industry. Growing middle-class population, improving standard of living, and rising disposable incomes are the major factors contributing to the growth of construction industry, which, in turn, is expected to generate a demand for architectural and decorative coatings, thereby, propelling the demand for phenolic resins over the forecast period.
In addition, the growing construction industry and favorable government policies such as Make in India, Smart Cities Mission, Housing for All, and 100% foreign direct investment (FDI) permitted through automatic routes in construction sector are likely to boost the growth of the phenolic resins market in the country over the coming years.
The aforementioned factors are likely to create ample growth opportunities for electronics and automobile industries, which, in turn, is expected to increase the consumption of phenolic resins in the coming years.
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Our clientele includes a mix of phenolic resins market companies, investment firms, advisory firms & academic institutions.
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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 country-level data and insights on the India phenolic resins market , including forecasts for subscribers. This country databook contains high-level insights into India phenolic resins market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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India phenolic resins market size, by product, 2019-2030 (US$M)
India Phenolic Resins Market Outlook Share, 2023 & 2030 (US$M)
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