Global Phenolic Resin market was valued at US$ 10.23 Bnin 2018 and is expected to reach US$ 14.87 Bn by 2026, at a CAGR of 4.79 % during the forecast period.
Global Phenolic Resin Market, by TypeGrowth in automobile production, building & construction and electrical & electronics industry, and advancements in phenolic resin properties are factors driving the demand for phenolic resins in various end-use industries.Instability in raw material prices is a major restraining as well as the challenging factor for the phenolic resins market. Growing focus on the development of green and sustainable products, bio-based resins poses an opportunity for market growth.
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