Phenolic Boards Market

Phenolic Boards Market Overview

Global Phenolic Boards Market demand is anticipated to be valued at US$ 3.5 Billion in 2022, forecast to grow at a CAGR of 3.63% to be valued at US$ 5.0 Billion from 2022 to 2032. The growth of the Phenolic Boards Market is attributed to its global utilization across the Chemicals & Materials industry.

Phenolic Boards are also referred to as phenolic panels, which are a type of plywood like material that is feigned with the help of woven fabrics or high density thermo-setting cellulose fabrics together with phenolic resins. These boards are manufactured by pressing woven cellulose fabrics with phenolic resins under very high pressure.

Asia Pacific is considered to be a dominant region for the Phenolic Boards Market, owing to the increasing population and rising urbanization in the region.

The major factor that is expected to propel the growth of the Phenolic Boards Market during the forecast period includes the permanent populace development alongside fast urbanization rate.

The factor that is expected to hinder the growth of the Phenolic Boards Market during the forecast period includes the high cost of phenolic board when compared to traditional plywood.

Which are Some Prominent Drivers Spearheading Phenolic Boards Market Growth?

The major factor that is expected to drive the growth of Phenolic Boards Market during the forecast period includes the jump back in residential buildings, which is further expected to fuel the growth of the construction industry. Moreover, the increasing population growth coupled with rapid urbanization rate in emerging regions has catalyzed the building and construction activities across the world, which is another major factor that is favoring the growth of the market during the forecast period.

The other factor that is accountable for the growth of the market includes the adoption of new techniques by various manufacturers to persuade phenolic resins to meet the needs of end-use industries, which is highly impacting the growth of the market. Further, the numerous grades of phenolic board with beneficial properties such waterproof, fire resistant, termite and weed resistant is also accelerating the growth of the phenolic board market during the forecast period.

Furthermore, the rapidly increasing spending in building interiors such as wall partitions, false ceilings and insulating units will further offer a variety of growth opportunities for the phenolic board market during forecast period. In addition, the obligation of stringent industrial norms for worker safety and welfare is also highly impacting the growth of the phenolic board market. Likewise, the permanent populace development alongside fast urbanization rate is also expected to drive the demand for phenolic board market.

What are the Challenges Faced by the Phenolic Boards Market Industry?

The major factor that is expected to hamper the growth of the Phenolic Boards Market during the forecast period includes the high cost of phenolic board when compared to traditional plywood.

How is Asia Pacific region Emerging as an Opportunistic Phenolic Boards Market?

Asia-Pacific is expected to dominate the Phenolic Boards Market during the forecast period, owing to the increasing population and rising urbanization in the region, which has resulted into the increase in the number of building and construction activities in this region.

Additionally, Asia Pacific Phenolic Boards Market is expected to expand at a 4% CAGR during the forecast period.

Nikhil Kaitwade

Principal Consultant

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How is North America Contributing to Growth of the Phenolic Boards Market?

According to Future Market Insights, North America is anticipated to witness growth at a lucrative rate over the forecast period, attributed to the

North America Phenolic Boards market is expected to expand at a significant growth during the forecast period, attributed to the increase in research and development activities in resins and the growing use of additives in improving the performance in this particular region.

Market Competition

Some of the key participants present in the global Phenolic Boards Market include Spigo Group, Guangdong Yuhua Building Materials Co., Ltd., Linyi Jiate Import & Export Co., Ltd., Phenolam India Pvt. Ltd., UNILIN, Kingspan Group, SEKISUI CHEMICAL CO., LTD., Asahi Kasei Corporation, Unitech Enterprise Private Limited, LINYI CONSMOS WOOD INDUSTRY CO., LTD., Changzhou Zhongtian Fireproof Decorative Sheets Co., Ltd., Shallin Electronics Co., Ltd., Linyi Yachen Wood Co., Ltd., Shandong Green Plastic Co., Ltd., Stonewood Architectural Panel, Shouguang Fuji Wood Industry Co., Ltd., Sourci, OKCHEM, LG HAUSYS and Fiberesin Industries, Inc., among others.

Attributed to the presence of such high number of participants, the market is highly competitive. While global players such as Spigo Group, Guangdong Yuhua Building Materials Co., Ltd., account for a considerable market size, several regional level players are also operating across key growth regions, particularly in the Asia Pacific.

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Scope of Report

Key Segments Profiled in the Phenolic Boards Market Industry Survey

Thickness:

• Phenolic Boards Measuring ≤ 40 mm
• Phenolic Boards Measuring >40 mm

Application:

• Phenolic Boards for Building & Construction
• Phenolic Boards for Interior (Bathroom & Toilet Partitions, Interior Partitions, Cubicles, etc.) Applications
• Phenolic Boards for Exterior (Wall Claddings) Applications
• Phenolic Boards for Insulation Panels
• Phenolic Boards for Furniture
• Phenolic Boards for Other (Countertops, Screens, Truck Beds) Applications

End Use:

• Residential Phenolic Boards
• Commercial Phenolic Boards
• Industrial Phenolic Boards

Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• APEJ
• Japan
• Middle East & Africa