In the first two quarters of 2023, the phenolic resin market in Asia Pacific declined due to reduced demand from downstream sectors, weak support from feedstock and upstream industries, and falling energy costs. Europe witnessed a gradually falling price trend of phenolic resin due to declining energy costs, reduced support from feedstock, and decreased market activities in adhesives, coatings, and insulation sectors. North America experienced fluctuating prices, influenced by feedstock costs and demand from downstream industries, while stable demand was offset by sufficient product availability. Reduced manufacturing activities also impacted the phenolic resin market negatively in the region.
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Definition
Phenolic resin is a type of synthetic polymer derived from phenol and formaldehyde. It is characterized by its excellent heat resistance, chemical resistance, and electrical insulating properties. Phenolic resin is commonly used in various applications, such as adhesives, coatings, molded parts, and electrical components. It finds use in industries like automotive, electronics, construction, and aerospace, where its combination of properties makes it suitable for high-temperature and harsh environments. Phenolic resins are valued for their durability and fire-retardant qualities, making them a preferred choice for a wide range of industrial and commercial applications.
Key Details About the Phenolic Resin Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Phenolic Resin in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Phenolic Resin Price Trends, including India Phenolic Resin price, USA Phenolic Resin price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Phenolic resin Price Trend:
Phenolic resin is widely utilized in various industrial applications due to its exceptional properties. In the adhesive industry, it is employed for bonding wood, laminates, and other materials, offering strong and durable adhesion. As a coating material, phenolic resin provides corrosion resistance and thermal insulation in metal coatings and paints. In the construction sector, it is used for insulation boards, laminates, and composites due to its excellent fire resistance. Electrical components, such as circuit boards and insulators, benefit from its electrical insulating properties. Additionally, phenolic resin finds use in automotive parts, aerospace components, and friction materials, where its heat resistance, chemical resistance, and mechanical strength contribute to superior performance and reliability.
Key Players:
- Hexcel Corporation
- Bakelite Synthetics
- Ashland Global Holdings Inc
- BASF SE
- Allnex GmbH
- Akrochem Corporation
- Kraton Corporation
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