Phenolic Resins Market Size, Share, Opportunities, And Trends By Type (Novolacs, Resoles), By Application (Coatings, Composites, Adhesives), By End-Use Industry (Automotive, Aerospace, Electronics, Others), And By Geography – Forecast From 2025 To 2030

Phenolic Resins Market Size

The phenolic resins market is expected to grow at a CAGR of 6.10% to reach a market size of US$22.312 billion by 2030, up from US$16.592 billion in 2025.

Phenolic resins are synthetic polymers that are widely used in molding compounds, wood adhesives, and laminates. The growing construction industry is one of the major drivers of the phenolic resin market. Stringent emission regulations are promoting the utilization of lightweight composites in the automotive sector, further fueling the market growth during the forecast period. The wide application of phenolic resins in various end-use industry verticals, including automotive, electrical, electronics, aerospace industries, and many more, is propelling the market expansion in the forecast period. Furthermore, companies worldwide are investing in R&D for the development of innovative phenolic resins.

What are the drivers of the phenolic resins market?

• Growing Demand in Various End-Use Industries

The market is expected to fuel the growing adoption of electronic products among a wide range of customers worldwide. The increase in the penetration of mobile phones, consumer electronics, IT, and office automation products majorly drives the growth. This has further raised the interest of many players to either set up new manufacturing facilities or expand their production capacities at the global level. Examples of the major market players in global electronics include Samsung, Motorola, and Cisco, among others. In addition, the booming demand for electronics is attributed to the growing miniaturization trend and the advent of surface mount technology (SMT). Modern devices like tablet PCs, display panels, and mobile phones are manufactured using SMT.

In addition, the increasing investments in infrastructure development across APAC countries are driving a rise in construction activities in residential, hospitality, commercial, and industrial sectors. This surge, combined with the growing disposable income of consumers, is further fueling the global phenolic resins market growth during the forecast period. As urbanization continues to increase, the demand for these resins is becoming more pronounced. The growing automotive industry with the purchase of new vehicles is further propagating the market’s growth in the forecast period.

• Rise in the number of air passengers.

The growth in air passengers has further given rise to the need for the manufacturing of new aircraft, further providing strong market potential during the forecast period. In this regard, the FAA's Air Traffic Organization, ATO, serves over 45,000 flights and 2.9 million passengers by an airline with more than 29 million square miles of airspace. 

The growing demand for new aircraft is primarily attributed to rising disposable income and the adoption of high living standards, especially in emerging economies compared to the developed economies of the world. Additionally, the availability of cheap air tickets is propelling the increasing use of flights as a regular means of transport.

Furthermore, growing tourism and globalization are also supporting the need to develop new aircraft with the increasing number of air passengers, augmenting the market growth during the forecast period. The growing middle-class population, increasing consumer spending on air services, and evolving business airline models to bring more value to passengers and the air travel industry are further providing an opportunity for the market to thrive in the forecast period. According to the Airports Council International, passenger traffic worldwide is expected to increase to 20 billion by 2039, with a CAGR of 4.1 percent from 2017 to 2040.

Major challenges hindering the growth of the phenolic resins market:

The phenolic resins market has several challenges impeding its growth. Raw material price volatility, mainly for phenol and formaldehyde, may affect production costs and profit margins in general. Stringent environmental regulations, including emission, waste management, and energy efficiency, increase costs and the complexity of the operation.

The market for phenolic resins faces competition from alternate materials, such as epoxy resins and thermoplastic resins, which may be more suitable for certain applications. Economic slowdowns in industries such as construction and automotive can negatively impact the demand for phenolic resins, hence lower sales and revenue. There is a health and safety aspect when working with chemicals involved in the manufacture and handling process of phenolic resins, and thus, stringent safety standards and proper handling are required.

Phenolic resins market geographical outlook:

• The phenolic resins market is segmented into five regions worldwide

Geography-wise, the phenolic resins market is divided into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. The Asia Pacific region is expected to show strong market growth in the global electronics industry owing to being among the fastest-growing regions in the world. Segments including consumer electronics, electronic components, industrial electronics, computer hardware, communication and broadcast equipment, and strategic electronics are further showing favorable growth prospects during the forecast period.

In addition, the adoption of electric household appliances, especially in the emerging economies of the world, such as the Asia Pacific region, is further propelling the market’s growth owing to the rising disposable income and an increasing middle-class population coupled with the rise in family income. For instance, fixed-asset investment in China's electronic information manufacturing business increased by 9.3% year on year in 2023, reflecting the sector's revival, according to government statistics. The Ministry of Industry and Information Technology announced that the increase was 0.3% points more than that of China's entire industry. The regional manufacturers of electrical appliances are working on providing smart and automatic devices to their customers by integrating electronics with intelligent sensors and machine programming, thus reducing human work and providing superior home care.

Additionally, the United States of the North American region has been an early technology adopter and one of the leading countries in the electrical and electronic industries. Thus, it is projected to have a significant potential for the phenolic resins market in the forecast period. The successful market growth here is attributed to the strict regulations by US Federal Agencies for using electrical and electronic equipment and successful business models. Additionally, the high-tech-savvy population adopting smart electrical and electronic devices for carrying out their daily activities is contributing to stable electronics market growth in the United States during the forecast period.

Phenolic resins market scope:

Report Metric	Details
Phenolic Resins Market Size in 2025	US$16.592 billion
Phenolic Resins Market Size in 2030	US$22.312 billion
Growth Rate	CAGR of 6.10%
Study Period	2020 to 2030
Historical Data	2020 to 2023
Base Year	2024
Forecast Period	2025 – 2030
Forecast Unit (Value)	USD Billion
Segmentation	Type Application End-Use Industry Geography
Geographical Segmentation	North America, South America, Europe, Middle East and Africa, Asia Pacific
List of Major Companies in the Phenolic Resins Market	BASF SE The Chemical Company Hexion Prefere Resins Holding GmbH INEOS Capital Limited
Customization Scope	Free report customization with purchase

 

The phenolic resins market is analyzed into the following segments:

• By Type
  • Novolacs
  • Resoles
• By Application
  • Coatings
  • Composites
  • Adhesives
• By End-Use Industry
  • Automotive
  • Aerospace
  • Electronics
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Rest of the Middle East and Africa
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Rest of Asia-Pacific

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1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base and Forecast Years Timeline

1.8. Key benefits for the stakeholders

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Process

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. The Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. PHENOLIC RESINS MARKET BY TYPE

5.1. Introduction

5.2. Novolacs

5.3. Resoles

6. PHENOLIC RESINS MARKET BY APPLICATION

6.1. Introduction

6.2. Coatings

6.3. Composites

6.4. Adhesives

7. PHENOLIC RESINS MARKET BY END-USE INDUSTRY

7.1. Introduction

7.2. Automotive

7.3. Aerospace

7.4. Electronics

7.5. Others

8. PHENOLIC RESINS MARKET BY GEOGRAPHY

8.1. Global Overview

8.2. North America

8.2.1. United States

8.2.2. Canada

8.2.3. Mexico

8.3. South America

8.3.1. Brazil

8.3.2. Argentina

8.3.3. Rest of South America

8.4. Europe

8.4.1. United Kingdom

8.4.2. Germany

8.4.3. France

8.4.4. Italy

8.4.5. Spain

8.4.6. Rest of Europe

8.5. Middle East and Africa

8.5.1. Saudi Arabia

8.5.2. United Arab Emirates

8.5.3. Rest of the Middle East and Africa

8.6. Asia-Pacific

8.6.1. China

8.6.2. India

8.6.3. Japan

8.6.4. South Korea

8.6.5. Taiwan

8.6.6. Thailand

8.6.7. Indonesia

8.6.8. Rest of Asia-Pacific

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Market Share Analysis

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Competitive Dashboard

10. COMPANY PROFILES

10.1. BASF SE

10.2. The Chemical Company

10.3. Hexion

10.4. Prefere Resins Holding GmbH

10.5. INEOS Capital Limited

10.6. SI Group, Inc.

10.7. DIC Corporation

10.8. Sumitomo Bakelite Co., Ltd.

10.9. Ashland

10.10. Bakelite Synthetics

10.11. KOLON Industries, Inc.

BASF SE

The Chemical Company

Hexion

Prefere Resins Holding GmbH

INEOS Capital Limited

SI Group, Inc.

DIC Corporation

Sumitomo Bakelite Co., Ltd.

Ashland

Bakelite Synthetics

KOLON Industries, Inc.