Phenolic Resin For Friction Materials Market Revenue was valued at USD 1.5 Billion in 2024 and is estimated to reach USD 2.3 Billion by 2033, growing at a CAGR of 5.5% from 2026 to 2033.
The global Phenolic Resin for Friction Materials market size was valued at USD 1.67 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 4.8% from 2023 to 2030. North America dominated the market, accounting for approximately 35% of the global share in 2022. The increasing demand for high performance friction materials, particularly in automotive and industrial applications, has contributed to the regions significant market share. The growing automotive production in the U.S. and Canada, alongside advancements in brake system technologies, is expected to drive continued growth in this region. Additionally, the Asia Pacific region is anticipated to witness the highest growth rate during the forecast period, driven by rapid industrialization, increased automotive production, and the expansion of construction and manufacturing sectors in countries like China, India, and Japan. This growth is further supported by the increasing demand for friction materials in emerging economies, making APAC a key market for phenolic resins in the years ahead.
Europe holds a notable portion of the market as well, with a market share of around 28% in 2022, owing to the substantial automotive industry presence in Germany, France, and Italy. The regions focus on improving vehicle safety standards and reducing environmental impact is expected to boost the demand for friction materials in the coming years. The Middle East & Africa (MEA) and Latin America markets are expected to show moderate growth due to industrial and automotive advancements in these regions. Opportunities for growth in these areas are tied to infrastructure development and increasing demand for durable, high quality friction materials for both commercial and passenger vehicles. As the market for Phenolic Resin for Friction Materials expands globally, regional dynamics such as regulatory changes, raw material availability, and technological advancements will continue to shape its future.
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Sumitomo Bakelite
Hexion
Mitsui Chemicals
DIC Corporation
Shengquan Group
KANGNAM CHEMICAL
Shandong Laiwu Runda New Material
Kuentek Cashew
Sprea Misr
Zhejiang Hangzhou Friction Composites
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 Resin For Friction Materials Market
Automotive Brakes
Clutch Materials
Railway Brakes
Industrial Brakes
Others
Phenolic Novolac Resin
Phenolic Resol Resin
Hot Pressing
Cold Pressing
Heat Resistance
Friction Performance
Wear Resistance
Automotive
Aerospace
Railways
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 Resin For Friction Materials 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 Resin For Friction Materials Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Phenolic Resin For Friction Materials Market, By Type
6. Global Phenolic Resin For Friction Materials Market, By Application
7. Global Phenolic Resin For Friction Materials Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Phenolic Resin For Friction Materials Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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