North America Phenolic Resin Market is expected to reach USD 4.20 billion by 2024 due to increase in applications for construction activities like laminates, wood adhesives and coatings. Phenolic resin are the synthetic polymers that are obtained from aldehydes and phenols. They have better mechanical and thermal stability, exceptional thermal & electrical insulating, excellent fire, smoke and low toxicity to be used for different applications.
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The key driving factors responsible for the growth of North America Phenolic Resin market :
North America phenolic resins market is witnessing growth owing to the factors like increasing use of corrosion resistant, heat resistant, and chemical resistant materials required in automobile, increasing need for fire resistant materials in building and construction industry and in thermal insulation products. Moreover, government regulations for building energy efficient buildings is expected to boost North America phenolic resin industry. The market is also driven by increasing demand for phenolic resin in aerospace, mass transit and marine segments.
However, unstable prices of raw materials is negatively affecting North America phenolic resin market. Economies around the world are focusing on the development of sustainable and green products, which allow bio-based products to gain traction and ultimately hamper the market growth. Since resols are widely used as adhesives, binders, and reinforcing agents, Mexico offers better opportunities for the growth.
North America phenolic resin industry is categorized on the basis of type, application, end user and geography. On the basis of type, the market is divided into novolac phenolic resin, resol phenolic resin and other phenolic resins. Resol phenolic resin segment is predicted to lead North America phenolic resins market due to extensive use in laminates and wood adhesives.
Based on application, North America phenolic resins industry is divided into laminate, wood adhesive, paper impregnation, molding compound, insulation coating and others. Owing to the progress in building & construction industry in Asia Pacific region, wood adhesive segment registers significant growth among others.
In terms of end user, North America phenolic resin market is split into electronics and electrical, transportation, furniture, construction, industrial and others. Owing to wide application, electrical and electronics segment is projected to hold larger market share of phenolic resin.
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These cables are manufactured by surrounding insulated layer and wire shield or extruded tube of metal on copper wire and are finally coated with a protective layer.
The usage of metal tubes in manufacturing such cables is restricted due to its property of rigidity.
The connectors for such cables were designed for specific radio frequencies.
Such cables are also named as coax and are being used by several television companies for broadcasting signals and also by the customers for receiving those signals on antennas.
However, the issue related to DOCSIS (Data Over Cable Service Interface Specification) and the need for improving rural distribution network is expected to create an opportunity for the market growth for such cables in the upcoming years.
Moreover, increased spending on IT and telecom sectors across North America, technological advancements, and low installation costs are expected to fuel up the market demand in the upcoming years.
According to the latest research report published by Dhirtek Business Research, the global phenolic panel market report provides detailed information on the factors driving the growth of the phenolic panel market.
This pandemic is having an impact on various sectors of the economy.
It predicts that the global economy will suffer as a result of the loss of trillions of dollars.
To compete in a competitive market, the companies must identify product opportunities based on their strengths.
This study provides a platform for understanding the various exciting and rising prospects in the field of phenolic panel, and it will help every producer, distributor, or even user understand and succeed in this burgeoning industry.
Obtain a Sample Report and the Table of Content for the Phenolic Panel Market Report:https://www.dhirtekbusinessresearch.com/market-report/Phenolic-Panel-Market/request-for-sample-report Study Goals and Objectives of Global Phenolic Panel Market The report provides information on the market impact of phenolic panel.
