U.S. Phenolic Resins Market Size & Outlook, 2023-2030
U.S. phenolic resins market, 2019-2030 (US$M)
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U.S. phenolic resins market highlights
- The U.S. phenolic resins market generated a revenue of USD 1,361.9 million in 2023 and is expected to reach USD 2,037.6 million by 2030.
- The U.S. market is expected to grow at a CAGR of 5.9% 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 1,361.9 million |
| Market revenue in 2030 | USD 2,037.6 million |
| Growth rate | 5.9% (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, U.S. accounted for 9.5% 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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U.S. 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 47.95% in 2023. Horizon Databook has segmented the U.S. phenolic resins market based on novolac, resol covering the revenue growth of each sub-segment from 2019 to 2030.
The U.S. dominated the phenolic resins market in North America and is expected to grow at a significant rate owing to the surging demand for phenolic resins in various end-use industries such as construction, automotive, and electrical & electronics.
In construction industry, phenolic resins are used in a wide range of building materials such as coatings, paper impregnation, laminates, and wood adhesives. The growing construction spending owing to the privatization of the housing market coupled with surging government investment in the U.S. infrastructure is anticipated to propel the demand for phenolic resins over the forecast period.
According to the American Chemistry Council, construction materials production increased from 2.5% in 2020 to 3.3% in 2021. According to the U.S. This trend is expected to positively impact the demand for phenolic resins in the U.S. construction 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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Horizon Databook provides a detailed overview of country-level data and insights on the U.S. phenolic resins market , including forecasts for subscribers. This country databook contains high-level insights into U.S. phenolic resins market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. phenolic resins market size, by product, 2019-2030 (US$M)
U.S. Phenolic Resins Market Outlook Share, 2023 & 2030 (US$M)
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