Latin America Phenolic Resins Market Size & Outlook
Latin America phenolic resins market, 2019-2030 (US$M)
Related Markets
Latin America phenolic resins market highlights
- The Latin America phenolic resins market generated a revenue of USD 1,936.9 million in 2023.
- The market is expected to grow at a CAGR of 5% 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, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 1,936.9 million |
| Market revenue in 2030 | USD 2,726.5 million |
| Growth rate | 5% (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, Latin America region accounted for 13.5% 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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Latin America 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 16.68% in 2023. Horizon Databook has segmented the Latin America phenolic resins market based on novolac, resol covering the revenue growth of each sub-segment from 2019 to 2030.
The emergence of construction companies in Chile and Peru is expected to create growth potential for the phenolic resins market in the region over the forecast period. The presence of key coating manufacturers in the region, including The Sherwin-Williams Company, AkzoNobel NV, and RPM International, Inc., is expected to propel the demand for phenolic resins.
The region is characterized by the presence of several foreign automotive manufacturers such as BMW, Ford, General Motors, Honda, Hyundai, Mahindra, Mercedes-Benz, Mitsubishi, Nissan, Renault, Suzuki, Toyota, Volvo, and Volkswagen, which is anticipated to drive the demand for phenolic-based products in automotive moldings & coatings over the forecast period.
The recovering residential building & construction sector in Central & South America is also driving the demand for phenolic resin related materials and components. Significant new investments in housing and public works are expected to boost infrastructure growth in Colombia, thereby, augmenting phenolic resin-based products demand over the forecast period.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America phenolic resins market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America phenolic resins market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America phenolic resins market size, by country, 2019-2030 (US$M)
Latin America Phenolic Resins Market Outlook Share, 2023 & 2030 (US$M)
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