Phenolic Resin Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The report covers Global Phenolic Resin Market Revenue and it is Segmented by Product Type (Novolac and Resol), Application (Molding, Adhesive, Insulation, and Other Applications), End-user Industry (Automotive and Transportation, Consumer Electronics, Building and Construction, Oil and Gas, Furniture, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers market size and forecasts for Phenolic Resin in value (USD million) for all the above segments.

Phenolic Resin Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Phenolic Resin Market Size

Phenolic Resin Market Summary
Study Period 2019 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
CAGR 4.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Phenolic Resin Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Phenolic Resin Market with other markets in Chemicals & Materials Industry

Plastics, Polymers, and Elastomers

Adhesives and Sealants

Commodity Chemicals

Water and Wastewater Treatment

Advanced Materials

Construction Chemicals and Materials

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Phenolic Resin Market Analysis

The Phenolic Resin Market is expected to register a CAGR of 4% during the forecast period.

  • Due to COVID-19, manufacturing activities stopped, affecting the building and construction industry and decreasing the demand for phenolic resin insulations for the short term. 
  • The COVID-19 pandemic affected the oil and gas sector due to the temporary lockdown in almost all countries. The consumer electronics industry was also affected due to supply chain constraints and workforce shortages. The transportation and automotive industry also faced a decline in production and sales due to travel bans and restrictions, thus affecting the phenolic resin market. However, resumed production plants and international trade activities from 2021 are expected to restore market growth over the forecast period.
  • Over the medium term, the major factor driving the market's growth is the increasing demand from the construction and transportation industries.
  • On the flip side, the unfavorable conditions arising from the COVID-19 outbreak are anticipated to impede the market's growth.
  • Increasing concern related to reducing the vehicle's weight to open new opportunities in the future.
  • Asia-Pacific is expected to be the largest market due to the increasing consumption of phenolic resin in the end-user industries.

Phenolic Resin Industry Overview

The phenolic resin market is fragmented. Some players in the market include DIC Corporation, Kangnam Chemical, Sumitomo Bakelite Co. Ltd, BASF Se, and Shandong Laiwu Runda New Material Co. Ltd.

Phenolic Resin Market Leaders

  1. DIC CORPORATION

  2. KANGNAM CHEMICAL

  3. Sumitomo Bakelite Co., Ltd

  4. BASF SE

  5. SHANDONG LAIWU RUNDA NEW MATERIAL CO.,LTD

  6. *Disclaimer: Major Players sorted in no particular order
Phenolic Resin Market Concentration
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Phenolic Resin Market News

  • January 2023: BASF SE invested in the capacity expansion of polymer dispersions at its production site in Merak, Indonesia. The expansion is in line with the growing trend of high-quality packaging in ASEAN, where key paper and board manufacturers are located.
  • December 2022: Sumitomo Bakelite Europe NV, a Belgium-based subsidiary company of Sumitomo Bakelite Co., Ltd., obtained international sustainability carbon certification/ISCC PLUS (International Sustainability and Carbon Certification) certification for its phenolic resins. ISCC PLUS Certification is provided to companies for processing biobased and bio-circular materials and is widely used in Europe.
  • November 2022: ASK Chemicals Group completed the acquisition of the industrial resins business from US-based SI Group. Purchase includes resin manufacturing sites in Rio Claro (Brazil), Ranjangaon (India), and Johannesburg (South Africa), as well as licensed technology and concluded multiple tolling agreements worldwide. With this acquisition, ASK Chemicals has reinforced its position in the foundry market and, at the same time, took a first and substantial step in building a phenolic industrial resin business.

Phenolic Resin Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Drivers
    • 4.1.1 Increasing Demand from the Construction and Transportation Industries
    • 4.1.2 Other Drivers
  • 4.2 Restraints
    • 4.2.1 Unfavorable Conditions Arising Due to the COVID-19 Outbreak
    • 4.2.2 Other Restraints
  • 4.3 Industry Value Chain Analysis
  • 4.4 Porter's Five Forces Analysis
    • 4.4.1 Bargaining Power of Suppliers
    • 4.4.2 Bargaining Power of Consumers
    • 4.4.3 Threat of New Entrants
    • 4.4.4 Threat of Substitute Products and Services
    • 4.4.5 Degree of Competition

5. MARKET SEGMENTATION (Market Size in Value)

  • 5.1 Product Type
    • 5.1.1 Novolac
    • 5.1.2 Resol
  • 5.2 Application
    • 5.2.1 Molding
    • 5.2.2 Adhesive
    • 5.2.3 Insulation
    • 5.2.4 Other Applications
  • 5.3 End-user Industry
    • 5.3.1 Automotive and Transportation
    • 5.3.2 Consumer Electronics
    • 5.3.3 Building and Construction
    • 5.3.4 Oil and Gas
    • 5.3.5 Furniture
    • 5.3.6 Other End-user Industries
  • 5.4 Geography
    • 5.4.1 Asia-Pacific
    • 5.4.1.1 China
    • 5.4.1.2 India
    • 5.4.1.3 Japan
    • 5.4.1.4 South Korea
    • 5.4.1.5 Rest of Asia-Pacific
    • 5.4.2 North America
    • 5.4.2.1 United States
    • 5.4.2.2 Canada
    • 5.4.2.3 Mexico
    • 5.4.3 Europe
    • 5.4.3.1 Germany
    • 5.4.3.2 United Kingdom
    • 5.4.3.3 France
    • 5.4.3.4 Italy
    • 5.4.3.5 Rest of Europe
    • 5.4.4 South America
    • 5.4.4.1 Brazil
    • 5.4.4.2 Argentina
    • 5.4.4.3 Rest of South America
    • 5.4.5 Middle-East and Africa
    • 5.4.5.1 Saudi Arabia
    • 5.4.5.2 South Africa
    • 5.4.5.3 Rest of Middle-East and Africa

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Market Share/Ranking Analysis**
  • 6.3 Strategies Adopted by Leading Players
  • 6.4 Company Profiles
    • 6.4.1 BASF SE
    • 6.4.2 Changshu South-East Plastic Co. Ltd
    • 6.4.3 DIC CORPORATION
    • 6.4.4 Georgia-Pacific Chemicals
    • 6.4.5 Hexcel Corporation
    • 6.4.6 KANGNAM CHEMICAL
    • 6.4.7 Kolon Industries Inc.
    • 6.4.8 Mitsui Chemicals India Pvt Ltd
    • 6.4.9 Prefere Resins Holding GmbH
    • 6.4.10 SHANDONG LAIWU RUNDA NEW MATERIAL CO. LTD
    • 6.4.11 SI Group Inc.
    • 6.4.12 Sumitomo Bakelite Co. Ltd
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
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Phenolic Resin Industry Segmentation

Phenolic resins are synthetic polymers obtained by the reaction of phenol or substituted phenol with formaldehyde. The material was originally called bakelite. This was effectively the first plastic to be sold commercially. Phenolic resins are used in various applications, including electronics, ballistics, mine ventilation, offshore water pipe systems, aerospace, rail, and mass transit. 

The phenolic resin market is segmented by product type, application, end-user industry, and geography. By product type, the market is segmented into novolac and resol. By application, the market is segmented into molding, adhesive, insulation, and other applications. By end-user industry, the market is segmented into automotive and transportation, consumer electronics, building and construction, oil and gas, furniture, and other end-user industries. The report also covers the market size and forecasts for the 15 countries across major regions. 

For each segment, the market sizing and forecasts have been done on the basis of value (USD million).

Product Type Novolac
Resol
Application Molding
Adhesive
Insulation
Other Applications
End-user Industry Automotive and Transportation
Consumer Electronics
Building and Construction
Oil and Gas
Furniture
Other End-user Industries
Geography Asia-Pacific China
India
Japan
South Korea
Rest of Asia-Pacific
North America United States
Canada
Mexico
Europe Germany
United Kingdom
France
Italy
Rest of Europe
South America Brazil
Argentina
Rest of South America
Middle-East and Africa Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Phenolic Resin Market Research FAQs

What is the current Phenolic Resin Market size?

The Phenolic Resin Market is projected to register a CAGR of 4% during the forecast period (2025-2030)

Who are the key players in Phenolic Resin Market?

DIC CORPORATION, KANGNAM CHEMICAL, Sumitomo Bakelite Co., Ltd, BASF SE and SHANDONG LAIWU RUNDA NEW MATERIAL CO.,LTD are the major companies operating in the Phenolic Resin Market.

Which is the fastest growing region in Phenolic Resin Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Phenolic Resin Market?

In 2025, the Asia Pacific accounts for the largest market share in Phenolic Resin Market.

What years does this Phenolic Resin Market cover?

The report covers the Phenolic Resin Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Phenolic Resin Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Phenolic Resin Industry Report

Statistics for the 2025 Phenolic Resin market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Phenolic Resin analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.