Phenolic Panel Market Scope 

The phenolic panel market refers to the market for panels made of phenolic resin, a type of plastic that is used in a variety of applications, including as a substrate for laminate flooring and as a construction material for buildings. These panels are known for their durability, fire resistance, and cost-effectiveness. The market for phenolic panels is expected to grow in the coming years, driven by an increased demand for sustainable and fire-resistant building materials. The market is segmented based on type, application, and geography. According to the new market researchreport "Phenolic Panel Market by Type (Sandwich, Plain), Class, End-Use Industry (Construction, Marine, Transportation, Aerospace & Defense), Application (Interior, Exterior, Furniture, Air Conditioning Duct Panel), Class, and Region - Global Forecast to 2025", published by MarketsandMarkets™, the global Phenolic Panel Market size is expected to grow from USD 1.7 billion in 2020 to USD 2.4 billion by 2025, at a CAGR of 6.5% during the forecast period. The market is growing due to the increase in the demand for phenolic panels in the construction, transportation, and aerospace & defense industries.

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Phenolic Panel Market Drivers and Restraints

The phenolic panel market is driven by factors such as the increasing demand for lightweight and durable building materials, and the growing construction industry. Additionally, phenolic panels offer excellent insulation properties, fire resistance, and moisture resistance, which further fuels the market growth.

However, the market is restrained by the high cost of raw materials and the lack of awareness about the benefits of phenolic panels among consumers. Furthermore, the lack of standardization in the manufacturing process of phenolic panels can also negatively impact the market growth. 

Browse in-depth TOC on "Phenolic Panel Market"

95 – Market Data Tables
41 – Figures
127 – Pages

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Phenolic Panel Market Key Players

The key players in the market include Kingspan Group (Ireland), WilsonartLLC(US), Asahi Kasei Corporation (Japan), Fiberesin Industries Inc. (US), Broadview Holding B.V. (Netherlands), Fundermax GmbH (Austria), Bobrick Washroom Equipment, Inc. (US), Werzalit of America, Inc. (US), ASI Group (US), and General Partitions Mfg. Corp. (US).These companies are adopting various inorganic and organic strategies to increase their foothold in the phenolic panel market.

Phenolic panels used in the hot bond process comprises the major share of the market in terms of value.

The hot bond segment dominated the market in terms of value in 2019. Adhesives used in the hot bond process offers a strong, long-lasting repair with minimal risk of tearing, snagging, and other wear to the belt. They are mostly polyurethane-based and have a high demand for rubber conveyor belt repairing in the mining & quarrying industry.

Interior is the largest application of phenolic panel

Amongst all applications, the interior is the largest application of phenolic panel. Phenolic panels are used extensively for aircraft interior, railway interior, decorative interior in construction, partitions, and cubicles in various end-use industries.  Superior fire-resistance and chemical resistance offered by the phenolic panel is responsible for the high consumption in an interior application. 

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The construction end-use industry accounted for the largest share in the global phenolic panel market

Phenolic panels are used in various end-use industries, such as mining & quarrying, cement & aggregate, steel, and others. The construction industry dominated the global phenolic panel market. The phenolic panel has a large demand for interior applications in the construction industry owing to superior fire resistance characteristics of the phenolic panel, which helps in avoiding fire-related accidents. 

Europe is the largest phenolic panel market globally.

The phenolic panel market is segmented based on region into Europe, North America, APAC, MEA, and South America. Europe is the major consumer of phenolic panels owing to the high demand from the UK, Germany, and other European countries. The UK is the leading market in the region. Major applications of phenolic panels in the European market include building interior, aircraft interior, exterior cladding, furniture, and air conditioning duct panels, among others. The growth of the market is also attributed to the presence of established manufacturers and technological advancement related to the development of phenolic panel products.

Key Highlights of Phenolic Panel Market Report:

  • The report offers a comprehensive and broad perspective on the global Phenolic Panel
  • The market statistics represented in different Phenolic Panel segments offer a complete industry picture.
  • Market growth drivers and challenges affecting the development of Phenolic Panel are analysed in detail.
  • The report will help in the analysis of major competitive market scenarios, and market dynamics of Phenolic Panel.
  • Major stakeholders, key companies Phenolic Panel, investment feasibility, and new market entrants’ study are offered.
  • The development scope of Phenolic Panel in each market segment is covered in this report. The macro and micro-economic factors affecting the Phenolic Panel market.
  • Advancement is elaborated on in this report; The upstream and downstream components of Phenolic Panel and a comprehensive value chain are explained. 

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