[Online Quarterly Update] Phenolic Resin demand is anticipated to grow at a healthy CAGR of 5.8 per cent during the forecast period. Phenolic Resin is a synthetic polymer obtained by the reaction of Phenol or Formaldehyde. The Indian automobile industry is one of the driving forces of the economy hence impacting the domestic Phenolic Resin market where the product is majorly consumed. The Indian automobile industry has seen a massive qualitative jump as products have become safer and more environment- friendly, this has thus boomed the demand for Phenolic Resin in the country.
Phenolic Resin offers superior quality heat resistance and high friction resistance, making it suitable for use in brake linings, and disc brake pads. Its application is segmented into a vast majority of industries including furniture, electrical, aerospace, and rubber industries. Owing to its application as an adhesive, it is being used prominently in the growing construction industry, which behaves as a beneficiary factor to propel the demand for the product in the domestic market. Along with automotive and construction, Phenolic Resin finds various applications in electrical industry as well. One of the major applications of Phenolic Resin in the electrical sector includes manufacturing of household electrical switches due to its high heat resistant property, making it another factor responsible for uplifting the demand for the product. Moreover, commendable use in lamination, molding compounds and in coatings, shares a definite amount of proportion in elevating the demand for the product. It is expected that in the upcoming years, the demand for decorative products will increase, which will, in turn, escalate the demand for laminates, resulting in substantial growth of Phenolic Resin in coming five years.
Years Considered for this Report:
Historical Years: 2013 – 2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021 – 2030
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Objective of the Study:
• The primary objective of the study was to evaluate and forecast Phenolic Resin capacity, production,
demand, inventory, and demand – supply gap in India.
• To categorize Phenolic Resin demand based on end use, region and sales channel.
• To study trade dynamics and company share in India Phenolic Resin market.
• To identify major customers of Phenolic Resin in India.
• To evaluate and forecast Phenolic Resin pricing in India Phenolic Resin market.
• To identify and profile major companies operating in India Phenolic Resin market.
• To identify major news, deals and expansion plans in India Phenolic Resin market.
In this report, India Phenolic Resin market has been segmented into following categories:
Some of the major global players operating are Hitachi Chemical Company (Japan), Badische Anilin und Soda Fabrik (BASF) (Germany), Kolon Industries (South Korea), Shandong Laiwu Runda New Material Co. (China), Changshu Southeast Plastics Limited Company (China) and Georgia-Pacific Chemicals LLC (US), etc
The Automobile industry account for the maximum consumption of Phenolic Resin in the country, followed by Building and Construction industry and Furniture Industry. The product is completely dependent on the manufacturing of Phenol, which is a crude derivative. The demand of this product remains stable in the domestic market, however, due to the decline in the price of its feedstock (Phenol), the basic price has declined by 1.84 percent for the Powder grade, and 6.86 percent for the Liquid grade in FY 2020.
To extract data for India Phenolic Resin market, primary research surveys were conducted with Phenolic Resin manufacturers, suppliers, distributors, wholesalers and end users. 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 end user segments and projected a positive outlook for India Phenolic Resin market over the coming years.
ChemAnalyst calculated Phenolic Resin demand in India by analyzing the historical data and demand forecast was carried out considering Phenol prices. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers 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, suppliers and other stakeholders
• Organizations, forums and alliances related to Phenolic Resin distribution
• Government bodies such as regulating authorities and policy makers
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for industry stakeholders, such as Phenolic Resin manufacturers, distributors and Importers. The report also provides useful insights about which market segments should be targeted over the coming years to strategize investments and capitalize on growth opportunities.
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