London, 03 December 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Global Phenolic Resins Market 2015-2019, which is expected to grow at a CAGR of 5.85 percent during 2014-2019.
Phenolic resins are synthetic polymers formed by the reaction of phenol and formaldehyde. They have unique physical and chemical properties, including high mechanical strength, thermal stability, flame resistance, water and chemical resistance, low toxicity, and an excellent performance profile. Owing to their unique properties, phenolic resins are used in a wide array of applications ranging from construction materials to high-end technological applications in the electronics and aerospace industries.
“The unique characteristics of novolac resins such as light weight, high thermal stability, and low toxicity enable their use in various applications,” says Faisal Ghaus, Vice President of TechNavio.
“They are prominently used in the end-use industries that require materials of high mechanical strength and thermal stability.”
Key Market Drivers
- Growing Demand from Automotive Sector
- Healthy Growth of Construction Industry
- Healthy GDP and Growth of Housing Markets in Emerging Nations
Key Market Trends
- Enabling New Applications through Nanotechnology
- Novolac Resins Gaining Market Share
- Growing End-use Markets
Key Market Vendors
- BASF SE
- Momentive Specialty Chemicals
- SI Group
- Sumitomo Bakelite
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
