HOME Research Insight Expansions and Joint Ventures are the key Strategies Adopted by the Leading Players in the global Phenolic Resin Market



Expansions and Joint Ventures are the key Strategies Adopted by the Leading Players in the global Phenolic Resin Market


The global phenolic resin market was valued at USD 10.66 Billion in 2015 and is projected to reach USD 15.01 Billion by 2021, at a CAGR of 5.8% from 2016 to 2021. Joint ventures and expansions are the strategies adopted by the key players to strengthen their positions in the global phenolic resin market. The maximum number of strategic developments undertaken between 2012 and 2016 took place in the Asia-Pacific region, followed by the European and South American regions.

The key players operating in the global phenolic resin market are, Hexion Inc. (U.S.), Hitachi Chemical Co., Ltd. (Japan), Sumitomo Bakelite Co., Ltd. (Japan), SI Group, Inc. (U.S.), DIC Corporation (Japan), BASF SE (Germany), Kolon Industries, Inc. (South Korea).

SI Group, Inc. (U.S.) is a key player in the global phenolic resin market. The company has been focusing on expansions and joint ventures as a part of its strategic development activities. In April 2015, the company expanded its formaldehyde plant in Rio Claro, Brazil. This expansion helped the company to meet the growing requirements of the customers in the country. In April 2012, the company entered into a joint venture with UCP Chemicals AG (Austria). The new joint venture company was named URALCHIMPLAST SI GROUP.  The new company markets products in the friction, rubber resins, and abrasives market segments.

Hexion Inc. (U.S.) is another major phenolic resin manufacturer, globally. The company has been focusing on joint ventures to strengthen its market. For instance, in October 2013, the company entered into a joint venture with Kanoria Chemicals & Industries Limited (India) to open a new phenolic specialty resins plant at its production facility at Vishakhapatnam in India. This helped the company to expand its presence in the Indian market.

This report provides a detailed analysis of the global phenolic resin market and segments the same based on type, application, end-use industry, and region. Based on type, the phenolic resin market has been segmented into resol resin, novolac resin, and others. Based on application, the market has been segmented into wood adhesives, laminates, molding, foundry, insulation, and others. Based on end-use industry, the market has been segmented into automotive, building & construction, furniture, electrical & electronics, and others. Based on region, the market has been segmented into the Asia-Pacific region, Europe, North America, South America, and the Middle East & Africa.

Related Reports:

Phenolic Resin Market by Type (Resol Resin, Novolac Resin), Application (Wood Adhesives, Molding, Insulation), End-use Industry (Automotive, building & construction, Furniture) - Global Forecasts to 2021

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