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Phenolic Resin Adhesives Market Report


Phenolic Resin Adhesives Market, by Product (Novolac Resin, Resol Resin), by Application (Paper Impregnation, Molding, Insulation, Wood Adhesives, Laminates, and Coatings), by End-use (Electrical & Electronics, Building & Construction, Automotive, Furniture), Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2019–2026


Pages: NA

Mar 2020

Global Phenolic Resin Adhesives Market Overview 2026:

Phenolic resin adhesives are the strengthening products of formaldehyde and phenol and belong to an important family of adhesives. Phenolic resin adhesives are comparatively cheap and are produced as films and liquid compositions. However, Thermosetting phenolic resin adhesives have the ability to withstand very high temperatures under both severe environments and mechanical load with minimal distortion and creep. In other words, cured phenolic resin adhesives maintain structural integrity. Formaldehyde and phenol have the dimensional stability even under severe conditions.

Rising rubber demand across the globe is anticipated to drive the phenolic resin adhesives market in the near future

Rising transport business all over the world is boosting the growth of the rubber processing industry which is expected to fuel the development of phenolic resin adhesives market in the upcoming years. With the growing local trade and business activities, transport industry is expected to gain significant advantages in the near future. Furthermore, the use of phenolic resin adhesives in adhesives specially meant for wood and significant growth in the demand for wood adhesives in construction field are major factors booting the growth of the phenolic resin adhesives market. Middle East & Africa and Asia are regions that will hugely contribute to the growth of the construction industry during the forecast period. This is mainly because of the growing population and notable growth in the real estate & construction businesses, in these regions. Increased demands owing to demographics, stronger support by the state and reasonable surge in the prices of oil are key factors that are propelling the growth of the Middle East construction industry. 

Stringent regulation by governments regarding the usage of formaldehyde is expected to restrain the phenolic resin adhesives market growth

Strict environmental rules about formaldehyde emissions is one the major factors hampering the phenolic resin adhesives market growth. Phenol and Formaldehyde are the major raw materials that are being used in the manufacturing process of phenolic resins adhesives. These two products are mainly used in the production of compound wood products (particleboard, hardwood plywood, and medium thickness fiberboard), paints & coatings, construction materials & insulation, and paper products, and others. However, any direct contact to these materials can be harmful. Phenol is harsh on the tissues of the human body; if inhaled, ingested or absorbed into the body it can result in poisoning. Hence, the usage of phenol and formaldehyde is severely controlled, particularly in North American and European regions. The Environmental Protection Agency (EPA), under the Toxic Substances Control Act (TSCA), regulates the usage of formaldehyde in the manufacturing of phenolic resins adhesives. Additionally, rules and regulations associated with the environmental emissions about formaldehyde are expected to deter the development of the industry.

Rising demand for light weight vehicles is projected to create better growth opportunities for phenolic resin adhesives market during the forecasted period

Growing demand for light-weight and fuel-efficient vehicles are seen to bring in exceptional opportunities for phenolic resin adhesives manufactures. Continuous advances in the automotive and transportation sectors have created massive demand for fuel efficient and lightweight automobiles. Hence, automobile manufacturers are using several lightweight materials including steel, aluminum, plastics or composites. Moreover, the usage of adhesives helps in avoiding the practice of using fasteners like rivets, welds, or bolts in a vehicle. Composites and adhesives help in decreasing the additional weight in the automobiles. Moreover, the usage of these high-quality adhesives and materials surges resistance impact in automobiles. These opportunities are likely to develop huge demand for phenolic resin adhesives throughout the forecast period.

Resol resin is expected to hold the largest market share in 2018

Based on type, the market for phenolic resin adhesives has been classified into novolac resin, resol resin, and others. The resol resin sector is expected to dominate the market throughout the estimated period. This sector is likely to hold its lead position over the estimated timeframe due to its innovative characteristics such as enhanced heat resistance, improved tensile strength, and outstanding moldability. Furthermore, its chemical and physical properties make it an ideal choice in niche application such as offshore oil drilling and friction.

Wood adhesives segment is predicted to be most lucrative in the estimated timeframe

Based on application, the phenolic resin adhesives market is segmented into paper impregnation, molding, insulation, wood adhesives, laminates, coatings, and others. The application of phenolic resin adhesives on wood imparts it with excellent resistance to water, moisture, and weather that makes it suitable for use in the construction industry. Molding segment is foreseen to increase with a notable CAGR during the projected period. Several end user industries including automotive commutator, electrical & electronics, and household applications use molding components. Hence, the growing usage of molding in various application areas are expected to boost the demand for molding components in the next few years, which will in turn boost the growth of phenolic resin adhesives market during the anticipated period.

Automotive segment is predicted to be most lucrative in the estimated timeframe

By end-use, the phenolic resin adhesives sector has been classified into electrical & electronics, building & construction, automotive, furniture, and others. The growing usage of phenolic resin adhesives in the automotive segment for the manufacture of brake pads, drum linings, clutch facing, and disc brake is propelling the growth of market. In the automotive sector, phenolic resin adhesives are specially used in clutch facing, disk brake caliper piston, brake linings, drum linings, brake pads, oil filters, automotive felts, and under-the-hood parts (transmission, engine, and brake parts). Phenolic resin adhesives are extensively used in the automotive sector to enhance vulcanization, reinforcement, and formability. The development of the automotive sector will in turn boost the growth of the phenolic resin adhesives market all across the world. Moreover, the rising demand for tires and lightweight automobile parts is propelling the growth of the market in the automotive industry. 

Asia-Pacific region dominated the phenolic resin adhesives market

Asia-Pacific region is the major market for phenolic resin adhesives all over the globe. It is predictable to record the highest CAGR during the forecast period due to healthy economic development and considerable investment in building & construction, automotive, furniture, and electrical & electronics sectors. Asia-Pacific is seen as a profitable market and is anticipated to uphold its position during the estimated period. The constant increase in the production and exports of products in this region are fueling the growth of the phenolic resin adhesives market. As this region is the strongest regional market, phenolic resin adhesives manufacturers are mainly focusing to grow their business in this region. China is the foremost manufacturer and consumer of phenolic resin adhesives in this region.

Key players in the Phenolic Resin Adhesives Market:

Product development and joint ventures are the most common strategies followed by the market players

Key players in the Phenolic Resin Adhesives Market

Source: Research Dive Analysis

The key players for the global phenolic resin adhesives market are Hexion Inc., Sumitomo Bakelite Co., Ltd., Hitachi Chemical Co., Ltd., SI Group, Inc., Kolon Industries, Inc., BASF SE, DIC Corporation, Dujodawala Paper Chemicals Ltd., Shandong Laiwu, Runda New Material Co., Ltd., Changshu South-East Plastic Co., Ltd. and others. These key players are majorly concentrating on growth advancements in current technology, new product 



  Historical Market Estimations


  Base Year for Market Estimation


  Forecast timeline for Market Projection


  Geographical Scope

  North America, Europe, Asia-Pacific, LAMEA

  Segmentation by Type

  • Novolac Resin
  • Resol Resin

  Segmentation by Application

  • Wood Adhesives
  • Molding
  • Insulation
  • Coatings
  • Foundry
  • Laminates
  • Paper Impregnation
  • Others

  Segmentation by End-use

  • Automotive
  • Furniture
  • Building & Construction
  • Electrical & Electronics

  Key Countries Covered

U.S., Canada, Germany, France, Spain, Russia, Japan, China, India, South Korea, Australia, Brazil, and Saudi Arabia

  Key Companies Profiled

  • Hexion Inc.
  • Sumitomo Bakelite Co., Ltd.
  • Hitachi Chemical Co., Ltd.
  • SI Group, Inc.
  • Kolon Industries, Inc.
  • DIC Corporation
  • Dujodawala Paper Chemicals Ltd.
  • Shandong Laiwu Runda New Material Co., Ltd.
  • Changshu South-East Plastic Co., Ltd.
  • Others

Source: Research Dive Analysis

Frequently Asked Questions

A. Hexion Inc., DIC Corporation Inc., BASF SE are some of the key players in the global phenolic resin adhesives market.

A. Asia-Pacific possesses great investment opportunities for investors to witness the most promising growth in the coming years.

A. Product development and joint ventures are the key strategies opted by the operating companies in this market.

A. Hexion Inc. and SI Group Inc. are investing more in R&D activities for developing new products and technologies.

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