UK Phenolic Resins Market Size & Outlook, 2023-2030
UK phenolic resins market, 2019-2030 (US$M)
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UK phenolic resins market highlights
- The UK phenolic resins market generated a revenue of USD 696.5 million in 2023 and is expected to reach USD 1,010.0 million by 2030.
- The UK market is expected to grow at a CAGR of 5.5% 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.
Phenolic resins market data book summary
| Market revenue in 2023 | USD 696.5 million |
| Market revenue in 2030 | USD 1,010.0 million |
| Growth rate | 5.5% (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, UK accounted for 4.9% 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 Europe, Germany phenolic resins market is projected to lead the regional market in terms of revenue in 2030.
- Germany is the fastest growing regional market in Europe and is projected to reach USD 1,501.3 million by 2030.
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Phenolic Resins Market Scope
Phenolic Resins Market Companies
| Name | Profile | # Employees | HQ | Website |
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UK 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 20.11% in 2023. Horizon Databook has segmented the UK phenolic resins market based on novolac, resol covering the revenue growth of each sub-segment from 2019 to 2030.
The UK has a relatively mature and moderately growing construction sector. The construction sector in the UK is struggling since June 2022 due to rising prices of construction materials, increasing interest rates, and growing inflation and is expected to witness a downward trend in the coming years as well.
A severe shortage of construction materials in the country was witnessed during the COVID-19 pandemic in 2020 leading to a rise in prices of construction materials such as steel and timber in mid-2021. The situation further was exacerbated by Brexit as there was a shortage of drivers of vehicles that transport and deliver materials to building sites.
Moreover, the Russia and Ukraine geopolitical conflict has raised energy prices. This is hampering the growth of the construction sector in the UK, thereby restraining the growth of phenolic resins market in the country. Such initiatives in the UK are expected to support the growth of the construction sector in the country, thereby driving the consumption of phenolic resins in the UK in the coming years.
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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 UK phenolic resins market , including forecasts for subscribers. This country databook contains high-level insights into UK phenolic resins market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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UK phenolic resins market size, by product, 2019-2030 (US$M)
UK Phenolic Resins Market Outlook Share, 2023 & 2030 (US$M)
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