Phenolic Resins Market Size - Anticipated To Increase In The Future

Phenolic resins are polymers that are synthetic and derived from the chemical reaction of formaldehyde and phenol. Owing to their good resistance towards heat and high mechanical strength, phenolic resins are broadly used in molding composites, insulation, coverings, etc. These polymers emit less smoke, are less poisonous and can mix with other polymers to give high performance. For Market Research Report on “Phenolic Resins Market” Visit – http://www.grandviewresearch.com/industry-analysis/phenolic-resins-market The worldwide phenolic resins market is anticipated to rise through 2014 to 2019. The mentioned period is the forecast phase. The market is likely to increase at about 6 percent CAGR and achieve around USD 19 billion by the end of the phase. The phenolic resins demand is growing and estimated to augment equally in the future. This owes to phenolic resins market being offered huge prospects of development. These growth prospects are offered by housing and construction sectors in emergent regions. North America, Europe and Asia Pacific leaded the worldwide phenolic resins market in 2013. They made up for more than 90 percent of the market. The market in majority of nations intimately follows the growth of GDP and residential market. Resol occupied more than 75 percent of the worldwide market in 2013. The resol phenolic resins market is estimated to increase at about 4 percent CAGR during the forecast phase. The phenolic resins market is segmented on the basis of applications, products and geographical regions. It has experienced considerable expansion in the past and is projected to display the same in the future. The application of phenolic resins in wood adhesives is anticipated to propel the market ahead. These resins have good moisture resistance characteristics. They are used to make brilliant wood adhesives and hence, drive demand for themselves. They have been used for more than hundred years now and proved themselves to be matchless. Also, increasing people looking for conveyance, residential and household equipments is projected to propel the demand for the phenolic resins market. Phenolic Resins Market Size Information Source: Grand View Research

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