Phenolic Molding Compound Market Report

Phenolic Molding Compound Market Report

Phenolic Molding Compound Market Report
Report code - SR2884 Published On : May,2024 No. of Pages: 120
Phenolic Molding Compound Market Size, Share, Trend, Forecast, Competitive Analysis, and G See more...

“The phenolic molding compound market size was US$ 3.3 Billion in 2023 and is likely to grow at a healthy CAGR of 3.8 % in the long run to reach US$ 4.2 Billion in 2030”.

Market Dynamics

Introduction

Phenolic molding compounds are thermosetting materials manufactured with phenolic resin, organic/inorganic filler, and reinforcements. They offer high dimensional stability, flammable resistance, high electrical insulation, and good mechanical strength properties. The key applications of phenolic molding compounds include electrical components, automotive parts, housing appliances, and consumer goods.

Market Drivers

The increasing growth rate of electrical & electronics, automotive, consumer goods, and construction industries; the rising adoption of phenolic resins for different applications; and the key advantages of the phenolic molding compound, such as excellent insulation resistance, flame retardant, high mechanical strength, good chemical resistance, dimensional stability, and low creep, are likely to fuel the growth of the phenolic molding compound market during the forecast period.

Key Trends

Flame Retardant: Due to their good flame-retardant properties, phenolic molding compounds are increasingly used in emerging applications, such as consumer electronics and construction.

Sustainability: Stringent environmental regulations create a market demand for sustainable phenolic molding compounds. Manufacturers focus on greener production methods that utilize less energy and generate fewer pollutants.

Market Segments' Analysis

Segmentations

List of Sub-Segments

Segments with High Growth Opportunity

Application-Type Analysis

Electrical, Household Appliances, Automotive, Sanitation, and Others.

Electrical is expected to remain the dominant as well as the fastest-growing application in the coming years.

Grade-Type Analysis

General Grade, Heat Resistant Grade, High Strength Grade, Electrical Grade, and Others.

The general grade is likely to remain dominant, whereas the electrical grade is expected to experience the fastest growth in the coming years.

Resin-Type Analysis

Resole and Novolac.

Novolac is estimated to remain the dominant as well as the fastest-growing resin during the forecast period.

Region Analysis

North America, Europe, Asia-Pacific, and The Rest of the World.

Asia-Pacific is expected to remain the largest market over the next five years and is also likely to grow at the fastest rate during the same period.

 

By Application Type

Electrical is expected to remain dominant and will be the fastest-growing application in the market during the forecast period.

  • The phenolic molding compound market is segmented into electrical, household appliances, automotive, sanitation, and others.
  • Electrical is expected to remain the dominant and fastest-growing application in the market during the forecast period owing to the phenolic molding compound’s exceptional electrical insulation, heat resistance, dimensional stability, chemical resistance, and flame resistance properties.
  • Key applications of the phenolic molding compounds included in the electrical segment are capacitors, circuit breakers, relays, switches, transformers, commutators, bush holders, fuse holders, MCBs, switch housing lids, etc.

By Grade Type

General grade is expected to remain the dominant and electrical grade will be the fastest-growing grade during the forecast period”.

  • The market is segmented into general grade, heat resistant grade, high strength grade, electrical grade, and others.
  • General grade is expected to remain the dominant grade type in the market during the forecast period due to its advantages, such as durability, compatibility with additives, ease of processing, wide acceptance in various industries, easy availability, and economical.
  • Electrical grade will likely experience the fastest growth during the forecast period owing to rising demand for electrical components, growing usage of lightweight and durable materials, and advancements in electrical technologies.

By Resin Type

Novolac is expected to remain the dominant and faster-growing resin in the market during the forecast period.

  • The market is segmented into resole and novolac in terms of resin type.
  • Novolac is likely to remain the dominant resin type during the forest period. The novolac molding compounds have desirable flow characteristics and fast-curing time and they possess an outstanding resistance against heat, flame, and chemicals with desired hardness.

Regional Analysis

Asia-Pacific is expected to remain the largest and fastest-growing market for phenolic molding compounds during the forecast period.

  • Regarding region, the market is segmented into North America, Europe, Asia-Pacific, and The Rest of the World.
  • Asia-Pacific is expected to remain the largest and fastest-growing market for phenolic molding compounds during the forecast period. Rising investment in automotive, and electrical & electronics industries, a large customer base, and access to abundant raw materials required for phenolic molding compound production are some key factors that propel the region’s demand. China is the dominant country for phenolic molding compounds as it is the largest producer and consumer of phenolic resin.

Key Players

The market is fragmented with the presence of over 50 players. Most of the major players compete in some of the governing factors including price, service offerings, regional presence, etc. Key players are focusing on manufacturing phenolic molding compounds which reduces CO2 emissions due to the difference in production methods from conventional materials.

 The following are the key players in the phenolic molding compounds market.

Here is the list of the Top Players (Based on Dominance)

  • Sumitomo Bakelite Co., Ltd.
  • Bakelite Synthetics
  • Chang Chung Group
  • Resonac Holdings Corporation
  • Shaxian Hongsheng Plastic Co., Ltd.

Almost all key phenolic molding compound manufacturers, such as Sumitomo Bakelite Company Limited, Bakelite Synthetics, Chang Chung Group, and Shaxian Hongsheng Plastic Co., Ltd.; are also into in-house phenolic resin manufacturing.

 

Note: The above list does not necessarily include all the top players in the market.

Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

  • Market structure: Overview, industry life cycle analysis, supply chain analysis.
  • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
  • Market trend and forecast analysis.
  • Market segment trend and forecast.
  • Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
  • COVID-19 impact and its recovery curve.
  • Attractive market segments and associated growth opportunities.
  • Emerging trends.
  • Strategic growth opportunities for the existing and new players.
  • Key success factors.

The phenolic molding compound market is segmented into the following categories. 

Phenolic Molding Compound Market, by Application Type

  • Electrical (Regional Analysis: North America, Europe, Asia-Pacific, and The Rest of the World)
  • Household Appliances (Regional Analysis: North America, Europe, Asia-Pacific, and The Rest of the World)
  • Automotive (Regional Analysis: North America, Europe, Asia-Pacific, and The Rest of the World)
  • Sanitation (Regional Analysis: North America, Europe, Asia-Pacific, and The Rest of the World)
  • Others (Regional Analysis: North America, Europe, Asia-Pacific, and The Rest of the World)

Phenolic Molding Compound Market, by Grade Type

  • General Grade (Regional Analysis: North America, Europe, Asia-Pacific, and The Rest of the World)
  • Heat-Resistant Grade (Regional Analysis: North America, Europe, Asia-Pacific, and The Rest of the World)
  • High Strength Grade (Regional Analysis: North America, Europe, Asia-Pacific, and The Rest of the World)
  • Electrical Grade (Regional Analysis: North America, Europe, Asia-Pacific, and The Rest of the World)
  • Others (Regional Analysis: North America, Europe, Asia-Pacific, and The Rest of the World)

Phenolic Molding Compound Market, by Resin Type

  • Novolac (Regional Analysis: North America, Europe, Asia-Pacific, and The Rest of the World)
  • Resole (Regional Analysis: North America, Europe, Asia-Pacific, and The Rest of the World)

Phenolic Molding Compound Market, by Region Type

  • North America (Country Analysis: The USA, Canada, and Mexico)
  • Europe (Country Analysis: The UK, France, Russia, Germany, and Rest of Europe)
  • Asia-Pacific (Country Analysis: China, India, Japan, and Rest of Asia-Pacific)
  • Rest of the World (Country Analysis: Latin America, The Middle East, and Others)

Research Methodology

  • This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s phenolic molding compound market realities and future market possibilities for the forecast period. 
  • The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
  • The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
  • This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
  • More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
  • We conducted more than 10 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

  • Detailed profiling of additional market players (up to three players)
  • SWOT analysis of key players (up to three players)

Competitive Benchmarking

  • Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

Frequently Asked Questions (FAQs)

Phenolic molding compounds are thermosetting materials manufactured with phenolic resin, organic/inorganic filler, and reinforcements. They offer high dimensional stability, flammable resistance, high electrical insulation, and good mechanical strength properties.

The forecasted value of the phenolic molding compound market is US$ 4.2 Billion in 2030.

The phenolic molding compound market is estimated to grow at a CAGR of 3.8% by 2030.

The driving factors of the market are the increasing growth rate of the automotive and electrical & electronics industries, growing demand for phenolic resins for different applications, and key advantages of the phenolic molding compounds, such as excellent electrical insulation, high strength and durability, heat resistance, dimensional stability, chemical resistance, flame retardant, and ease of processing.

Asia-Pacific has the largest market share for phenolic molding compounds owing to rising disposable income, increasing investment in automotive and electrical & electronics industries, and rising technological expansion. The region is the largest producer and consumer of phenolic resins.

Sumitomo Bakelite Co., Ltd, Bakelite Synthetics, Chang Chung Group, Resonac Holdings Corporation, and Shaxian Hongsheng Plastic Co., Ltd. are the leading players in the phenolic molding compounds market.

General grade is the leading segment by grade type due to its advantages, such as durability, compatibility with additives, ease of processing, wide acceptance in various industries, easy availability, and economical.

Novolac is the dominant resin type due to its outstanding resistance against heat, flame, and chemicals with desired hardness.