Phenolic Resins Market Estimated At USD 20.8 Billion By 2030
San Francisco, 18 Dec 2023: The Report Phenolic Resins Market Size, Share & Trends Analysis Report By Product (Novolac, Resol), By Application (Wood Adhesives, Molding, Insulations, Laminates), By Other Applications, By Region, and Segment Forecasts, 2023 - 2030 The global phenolic resins market size is expected to reach USD 20.8 billion by 2030, registering a CAGR of 5.5% according to a new report by Grand View Research, Inc. Rising usage of phenolic resins across various applications including wood adhesives, molding, insulations, laminates, paper impregnation, coatings, and other applications such as abrasives, composites, carbon binders, friction materials, sound-roof bonding felt, and tires & rubbers are likely to present lucrative opportunities for phenolic resins during the forecast period. Novolac resin, a type of phenolic resin, is ideal for making automotive parts like suspension, seats, bottom plates, tires, brake pistons, brake block & pads, brake linings,