Phenolic Resins for Refractories Market size is estimated to be USD 1.2 Billion in 2024 and is expected to reach USD 1.8 Billion by 2033 at a CAGR of 5.2% from 2026 to 2033.
The global market for phenolic resins used in refractories was valued at approximately USD 1.5 billion in 2022 and is projected to grow at a CAGR of 6.2% from 2023 to 2030. The increasing demand for high performance materials in the manufacturing of heat resistant components, particularly in industries such as steel, cement, and foundry, is driving this market growth. Asia Pacific holds the largest market share, accounting for around 45% of the total market in 2022, followed by North America and Europe. In these regions, the expansion of industrial activities, especially in emerging economies like China and India, is contributing to the high demand for refractories, which use phenolic resins for enhanced performance and longevity in extreme conditions. The market for phenolic resins in refractories is expected to continue expanding due to the growing demand for refractory materials with superior thermal stability, mechanical strength, and resistance to corrosion.
Regionally, North America and Europe are expected to experience steady growth during the forecast period, with North America projected to account for a market share of approximately 20% in 2022. This growth is largely driven by the expanding automotive and aerospace industries, where refractories with high performance phenolic resins are crucial for heat resistance. Additionally, the market is set to grow in Latin America and the Middle East, where infrastructure development and energy sectors are showing increased demand for high quality refractory materials. The Middle Easts growing oil and gas industry also presents significant opportunities for phenolic resin suppliers in the refractories sector, with the region showing a steady increase in demand for advanced refractory products used in high temperature environments.
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Kolon Industries
Hexion
Sumitomo Bakelite
ALLNEX NETHERLANDS
Taiwan PU Corporation
Forace Polymers
DIC Corporation
Prefere Resins
Bakelite Synthetics
IVP Limited
Fenolit d.d
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Phenolic Resins for Refractories Market
Novolac Resins
Resol Resins
Phenolic Novolac Resins
Solid Phenolic Resins
Liquid Phenolic Resins
Iron and Steel Industry
Non-Ferrous Metal Industry
Cement Industry
Glass and Ceramics Industry
Petrochemical and Refining
Thermosetting Phenolic Resins
Thermoplastic Phenolic Resins
Modified Phenolic Resins
Blended Phenolic Resins
Batch Production
Continuous Production
Hybrid Production
Automated Production Lines
Aerospace
Automotive
Construction
Electrical and Electronics
Industrial Manufacturing
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Phenolic Resins for Refractories Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Phenolic Resins for Refractories Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Phenolic Resins for Refractories Market, By Type
6. Global Phenolic Resins for Refractories Market, By Application
7. Global Phenolic Resins for Refractories Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Phenolic Resins for Refractories Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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