Phenolic Resins Market Rapidly Increasing Growth Latest Report With Future Estimations, Current Trends And Opportunity Analysis 2021-2028

                                                                               
The addition polymerization of phenol with formaldehyde is either acid-catalyzed (Novolac) or base-catalyzed (Resol) to produce phenolic resins.

            Phenolic Resins Market


The addition polymerization of phenol with formaldehyde is either acid-catalyzed (Novolac) or base-catalyzed (Resol) to produce phenolic resins. As a result, there are two types of phenolic resins in the world: Resol and Novolac. To fit specific applications, both Resol and Novolac resins go through a variety of chemical transformations. Other monomers are typically added to the resin system to provide new functionality to the end product resin system. Phenolic resins are used in the manufacture of rubber-based adhesives as a tackifier to increase mechanical strength and tackiness. A tackifier increases the stickiness of a surface in an adhesive.


The worldwide Phenolic Resins Market is currently being driven by a number of reasons. The global need for abrasive tools for grinding, polishing, cutting, and other jobs will rise as the metal fabrication, automotive, and industrial machinery industries grow. Grinding wheels with phenolic resin coatings will be in more demand as a result of this. Molded components made of phenolic resin improve the vehicle's fire safety and overall performance. Furthermore, the global electronics and power industries' continued expansion is expected to create demand for more circuit board fabrication, which is subsequently used in the assembly of transformers and electronic devices. The manufacture of phenolic laminates will grow as a result of this.


Market Segmentation:

By Application
  • Wood Adheshives
  • Molding Compounds
  • Laminates
  • Insulation
  • Others

By Product type
  • Resole
  • Novolac
  • Others

The worldwide phenolic resins market is likely to be constrained by its reliance on petroleum feedstock and environmental concerns connected to the production of phenolic resins. Petroleum is a major source of raw materials for phenolic resin production. However, rising pollution levels and the depletion of fossil fuels have prompted businesses to look for sustainable alternatives to petroleum-based raw resources. Both phenol and formaldehyde are mutagenic, carcinogenic, and reprotoxic, according to the European Chemical Agency (ECHA). This poses substantial issues during the production of PF resins, necessitating the implementation of costly safety measures to avoid worker exposure.

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