Mexico Phenolic Resins Market Size & Outlook, 2023-2030
Mexico phenolic resins market, 2019-2030 (US$M)
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Mexico phenolic resins market highlights
- The Mexico phenolic resins market generated a revenue of USD 951.7 million in 2023 and is expected to reach USD 1,361.7 million by 2030.
- The Mexico market is expected to grow at a CAGR of 5.3% 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 951.7 million |
| Market revenue in 2030 | USD 1,361.7 million |
| Growth rate | 5.3% (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, Mexico accounted for 6.6% 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 North America, U.S. phenolic resins market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 2,037.6 million by 2030.
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Phenolic Resins Market Scope
Phenolic Resins Market Companies
| Name | Profile | # Employees | HQ | Website |
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Mexico 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 46.97% in 2023. Horizon Databook has segmented the Mexico phenolic resins market based on novolac, resol covering the revenue growth of each sub-segment from 2019 to 2030.
Mexico phenolic resins market is expected to benefit from the rising construction spending and growing inclination of consumers toward the utilization of lightweight and sustainable building materials in place of conventional materials.
The expanding automotive sector, on account of rising demand for electric vehicles and the shift in consumer purchase behavior from considering cars as luxuries to now considering them as necessities, is anticipated to fuel the growth of novolac resins in various applications such as molding, insulating, coatings, and others in the country.
Low tariffs of resins along with low production costs on account of the broad reach of Mexico's free trade agreements have contributed substantially to attracting significant investments. For instance: exports from Mexico to nearly 44 countries across the world are exempted from tariffs, including the 10% tariff imposed by the EU on imported motor vehicles.
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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 Mexico phenolic resins market , including forecasts for subscribers. This country databook contains high-level insights into Mexico phenolic resins market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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Mexico phenolic resins market size, by product, 2019-2030 (US$M)
Mexico Phenolic Resins Market Outlook Share, 2023 & 2030 (US$M)
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