Phenolic Resins Market - Forecasts from 2025 to 2030

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.

Phenolic resins market drivers:

• 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.

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.

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Report Coverage:

• Historical data & forecasts from 2022 to 2030
• Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
• Competitive Positioning, Strategies, and Market Share Analysis
• Revenue Growth and Forecast Assessment of segments and regions including countries
• Company Profiling (Strategies, Products, Financial Information, and Key Developments among others)

The phenolic resins market is segmented and analyzed as follows:

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