Latin America Phenolic Resins Market Size & 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. In addition, ascending consumption of packaged food products such as frozen meals, snacks, and ready-to-eat food in the region, owing to 

The changing consumer preferences, is expected to propel the demand for solid resole resins in packaging industry for various applications such as laminates, coatings, paper impregnation, and others. However, rising coronavirus cases in Brazil, Argentina, Chile, Colombia, and other countries in the region are negatively impacting the demand for phenolic resins among various end-use industries such as automotive, electrical & electronics, consumer goods, and building & construction owing to the slowdown in manufacturing activities.