North America Phenolic Resins Market Size & Outlook
North America phenolic resins market, 2019-2030 (US$M)
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North America phenolic resins market highlights
- The North America phenolic resins market generated a revenue of USD 3,545.5 million in 2023.
- The market is expected to grow at a CAGR of 5.6% 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, U.S. is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 3,545.5 million |
| Market revenue in 2030 | USD 5,203.3 million |
| Growth rate | 5.6% (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, North America region accounted for 24.8% 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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North 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 47.87% in 2023. Horizon Databook has segmented the North America phenolic resins market based on novolac, resol covering the revenue growth of each sub-segment from 2019 to 2030.
Rapid construction and infrastructure development in the U.S. and Mexico are anticipated to augment the demand for phenolic resins in North America over the forecast period. Construction industry in North America is expected to witness significant growth over the coming years owing to the high demand for non-residential construction projects such as hospitals, commercial buildings, and colleges.
The implementation of the "Affordable Healthcare Act" is also expected to stimulate the construction of a greater number of healthcare units and hospitals, which, in turn, is expected to boost the demand for moldings & coatings in medical devices such as stent and surgical devices, resulting in the growth of the phenolic resins market in the region over the forecast period.
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Our clientele includes a mix of phenolic resins market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America phenolic resins market , including forecasts for subscribers. This continent databook contains high-level insights into North America phenolic resins market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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North America phenolic resins market size, by country, 2019-2030 (US$M)
North America Phenolic Resins Market Outlook Share, 2023 & 2030 (US$M)
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