Middle East & Africa Phenolic Resins Market Size & Outlook
Middle East & Africa phenolic resins market, 2019-2030 (US$M)
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MEA phenolic resins market highlights
- The MEA phenolic resins market generated a revenue of USD 1,438.4 million in 2023.
- The market is expected to grow at a CAGR of 4.7% 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, Gulf Cooperation Council is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 1,438.4 million |
| Market revenue in 2030 | USD 1,987.6 million |
| Growth rate | 4.7% (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, MEA region accounted for 10.0% 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.
Key Regions: U.S. , UK , Japan , Brazil , South Africa
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Phenolic Resins Market Scope
Phenolic Resins Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa 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 14.11% in 2023. Horizon Databook has segmented the Middle East & Africa phenolic resins market based on novolac, resol covering the revenue growth of each sub-segment from 2019 to 2030.
Industrial manufacturing in the Middle East & Africa has witnessed steady growth in the past few years. A shift in focus toward non-oil private sector in the region is expected to boost manufacturing and other end-use industries, as well as diversify the economy of the region.
The efforts taken by various governments in the region to support the growth of industrial sector and achieve economic goals are anticipated to largely contribute to the growth of the phenolic resin market in the coming years.
This is anticipated to create demand for phenolic resins in coatings, moldings, and insulating applications in the region. However, the COVID-19 pandemic has negatively impacted the demand for phenolic resins, especially in automotive industry.
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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 continent-level data and insights on the Middle East & Africa phenolic resins market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa phenolic resins market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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MEA phenolic resins market size, by country, 2019-2030 (US$M)
Middle East & Africa Phenolic Resins Market Outlook Share, 2023 & 2030 (US$M)
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