The electrical and electronics sector has witnessed a rising adoption of phenolic resins, and this trend is expected to continue due to the unique properties and advantages they offer in the manufacturing of electronic components. Phenolic resins are thermosetting polymers known for their outstanding electrical insulating properties, mechanical strength, and heat resistance, making them a suitable choice for a wide range of applications in this industry.
One of the primary applications of phenolic resins in the electrical sector is in the production of circuit boards and laminates. The excellent dielectric properties of phenolic resins ensure that they can withstand high voltages and electrical stress without breakdown, ensuring the reliability and safety of electronic devices and systems. Additionally, their dimensional stability and resistance to moisture and humidity make them suitable for various environmental conditions.
According to Coherent Market Insights, the Global phenolic resins market was valued at US$ 14605.0 Million in 2021 in terms of revenue, exhibiting a CAGR of 4.84 % during the forecast period (2022 to 2030).
Phenolic resins are also used in the manufacturing of sockets, switches, connectors, and other electrical accessories. These materials provide superior insulation and are essential in preventing electrical short circuits or leakages, contributing to the overall safety and functionality of electronic devices.
The increasing demand for consumer electronics and the constant advancements in technology have fueled the need for more efficient and reliable electronic components. Phenolic resins play a crucial role in meeting these requirements by enabling the production of high-performance and durable electronic products.
Moreover, the electronics industry is also embracing eco-friendly practices, which has driven the development of bio-based phenolic resins market derived from renewable sources. These sustainable resins not only reduce the environmental impact but also cater to the growing consumer demand for eco-conscious electronic products.
In conclusion, the phenolic resins market's rising adoption in the electrical and electronics sector is driven by the materials' exceptional electrical insulating properties, mechanical strength, and heat resistance. As technology continues to evolve, phenolic resins will continue to play a vital role in enabling innovative and reliable electronic devices.
Global phenolic resins market size was valued at USD 9.30 billion in 2015 and is expected to grow at an estimated CAGR of 5.4% from 2016 to 2022.
Technological advancements have fostered the development of unique heat shields with ablative phenolics for aerospace applications, leading to greater market share in recent years.Development of lignin and corn-based renewable feedstock have also presented new growth avenues in the industry.
Increasing awareness regarding resource conservation and the implementation of stringent sustainability standards has positively impacted green materials demand, encouraging manufacturers to integrate such raw materials into their products.Download FREE Sample of this Report @ https://www.grandresearchstore.com/report-sample/global-phenolic-resins-2019-2023-676Novolac emerged as the dominant product segment, occupying nearly 50% of the volume share in 2015.
These resins are increasingly being designed for use as hardeners or curing agents in epoxy applications to meet the demand for laminates, adhesives, molding materials, and coatings.
The segment is expected to grow at around 5.2% CAGR from 2016 to 2025.Key companies operating in the industry are BASF SE, Momentive Specialty Chemicals, Sumitomo Bakelite Co. Ltd., Georgia-Pacific Chemicals, and Kolon Industries Inc. Other major participants may be listed as Owens Corning, Arclin Inc., Olympic Panel Products LLC, Ashland Inc., DIC Corporation, and Hexcel CorporationPhenolic Resins Report by Material, Application, and Geography Global Forecast to 2023 is a professional and comprehensive research report on the world?s major regional market conditions, focusing on the main regions (North America, Europe and Asia-Pacific) and the main countries (United States, Germany, United Kingdom, Japan, South Korea and China).The report firstly introduced the Phenolic Resins basics: definitions, classifications, applications and market overview; product specifications; manufacturing processes; cost structures, raw materials and so on.
Then it analyzed the world?s main region market conditions, including the product price, profit, capacity, production, supply, demand and market growth rate and forecast etc.
