Italy Phenolic Resins Market Size & Outlook, 2023-2030
Italy phenolic resins market, 2019-2030 (US$M)
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Italy phenolic resins market highlights
- The Italy phenolic resins market generated a revenue of USD 411.4 million in 2023 and is expected to reach USD 574.2 million by 2030.
- The Italy market is expected to grow at a CAGR of 4.9% 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.
Phenolic resins market data book summary
| Market revenue in 2023 | USD 411.4 million |
| Market revenue in 2030 | USD 574.2 million |
| Growth rate | 4.9% (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, Italy accounted for 2.9% 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 Europe, Germany phenolic resins market is projected to lead the regional market in terms of revenue in 2030.
- Germany is the fastest growing regional market in Europe and is projected to reach USD 1,501.3 million by 2030.
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Phenolic Resins Market Scope
Phenolic Resins Market Companies
| Name | Profile | # Employees | HQ | Website |
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Italy 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 17.11% in 2023. Horizon Databook has segmented the Italy phenolic resins market based on novolac, resol covering the revenue growth of each sub-segment from 2019 to 2030.
According to ANIE CONFINDUSTRIA, electrical engineering and electronics companies based in Italy invest approximately 4% of their total turnover in research and development activities. These companies account for a share of over 30% of overall private sector-based research and development investments taking place in the country.
This is expected to drive the demand for electrical & electronic products in the country, thereby positively impacting the growth of phenolic resins market in Italy from 2022 to 2030. Phenolics are highly versatile polymers that can be molded & processed as per application specifications.
These resins are widely utilized for producing cost-effective wood adhesives with highperformance characteristics. Exports of furniture from Italy have risen significantly in recent years, especially to countries such as China, where the demand for luxurious & exclusive furniture has risen owing to growing consumer income levels.
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Horizon Databook provides a detailed overview of country-level data and insights on the Italy phenolic resins market , including forecasts for subscribers. This country databook contains high-level insights into Italy phenolic resins market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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Italy phenolic resins market size, by product, 2019-2030 (US$M)
Italy Phenolic Resins Market Outlook Share, 2023 & 2030 (US$M)
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