The India Phenolic Resin market has grown significantly in the period of FY2015-FY2023 and reached approximately 324 thousand tonnes in FY2023 and is anticipated to grow at a steady CAGR of 5.12% by FY2030.
Phenolic Resin offers superior quality heat resistance and high friction resistance, thus making it suitable for use in brake linings and disc brake pads. It is used in a wide array of industries including furniture, electrical, aerospace, and rubber industries. Owing to its application as an adhesive, it is being used prominently used in the construction industry, which is anticipated to propel the demand for the product in the domestic market. Additionally, Phenolic Resin finds application in the electrical industry as well which includes the manufacturing of household electrical switches owing to its high heat-resistant property, making it another factor responsible for uplifting the demand for the product. Moreover, its use in lamination, molding compounds, and coatings, also contributes to the growing demand for the product. It is expected that in the upcoming years, the demand for interior decoration products will most likely increase, which will, in turn, escalate the demand for laminates, resulting in substantial growth of Phenolic Resin. Due to rising demand for them in residential furniture, wood adhesives currently hold considerable market shares and are anticipated to stay so over the forecast period. The India Phenolic Resin market is expected to reach approximately 460 thousand tonnes by FY2030.
Based on region, the India Phenolic Resin Market is segregated into North, South, East, and West. In the historic period of FY2015-FY2023, West India has been dominating the market followed by South India. Western states like Gujarat and Maharashtra, have been the key consumers of Phenolic Resin due to the abundance of numerous plasticizers and other end-use industries allocated in these locations.
Based on end-use, the India Phenolic Resin market is segregated into Automobile, Building and Construction, Electrical & Electronics, Furniture, and Others. Among these, the Automobile industry is dominating the segment of Phenolic Resin. This segment held roughly 34% of the Phenolic Resin market in FY2023. In the automobile industry, Phenolic Resin finds application as a reinforcing agent in tires, sound insulation felts, and clutch and friction facing. The Indian automobile industry has seen a massive quantitative jump in the past years and is anticipated to boom the demand for Phenolic Resin in the country.
Significant players in the India Phenolic Resin market are Revex Group, Kanoria Chembond Private Limited, KayDee Corporation, Forace Polymers Pvt. Ltd., and Others. Some of the major global players operating in the Phenolic Resins market are DIC Corporation, Kolon Industries, Inc., Sumitomo Bakelite Co., Ltd., Hexcel Corporation, Hexion, and Others.
Years considered for this report:
Historical Period: FY2015-FY2023
Base Year: FY2023
Estimated Year: FY2024
Forecast Period: FY2025- FY2030
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Objective of the Study:
• To assess the demand-supply scenario of Phenolic Resin which covers production, demand and supply of Phenolic Resin market in India.
• To analyse and forecast the market size of Phenolic Resin in India.
• To classify and forecast India Phenolic Resin market based on end-use and regional distribution.
• To examine competitive developments such as expansions, green field projects/ brown field expansions. mergers & acquisitions, etc., of Phenolic Resin market in India.
To extract data for India Phenolic Resin market, primary research surveys were conducted with Phenolic Resin manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for India Phenolic Resin maret over the coming years.
ChemAnalyst calculated Phenolic Resin demand in India by analyzing the historical data and demand forecast which was carried out considering the imports and domestic production coupled with demand from end user industry. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data / import data of Phenolic Resin to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Phenolic Resin manufacturers and other stakeholders
• Organizations, forums and alliances related to Phenolic Resin distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Phenolic Resin manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, India Phenolic Resin market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in FY2023
324 thousand tonnes
Market size Volume by FY2030
460 thousand tonnes
Growth Rate
CAGR of 5.12% from FY2024 to FY2030
Base year for estimation
FY2024
Historic Data
FY2015 – FY2023
Forecast period
FY2025 – FY2030
Quantitative units
Demand in thousand tonnes and CAGR from FY2024 to FY2030
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Foreign Trade
Segments covered
By End-Use: (Automobile, Building and Construction, Electrical & Electronics, Furniture, and Others)
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Member - Board of Directors
Osaka Gas Co. Ltd
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What is the anticipated India market growth rate of Phenolic Resin in terms of volume in FY2030?
Ans:
The India Phenolic Resin market is anticipated to grow at an anticipated CAGR of 5.12% in the forecast period until FY2030.
Q2.
The India Phenolic Resin market is anticipated to grow at an anticipated CAGR of 5.12% in the forecast period until FY2030.
Ans:
As of FY2023, Automobile industry is dominating the Phenolic Resin market in India with an estimated share of roughly 34%.
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