Overview and Scope
Phenolic panels are flat panels based on thermosetting resins, homogenously reinforced with wood fibers, and produced under high pressure and temperature. The panels have an integrated, decorative surface with pigmented resins which provides resistance to scratch, and water thus, offering relatively better durability.
Sizing and Forecast
The phenolic panel market size has grown strongly in recent years. It will grow from $3.36 billion in 2023 to $3.64 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to increased use in architectural applications, rising awareness of fire safety, sustainability and environmental concerns, expansion of commercial spaces, use in educational and healthcare facilities.
The phenolic panel market size is expected to see strong growth in the next few years. It will grow to $5.02 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to rise in prefabricated construction, integration in smart building systems, demand for lightweight construction materials, growth in hospitality industry, advancements in material, market expansion in emerging economies. Major trends in the forecast period include innovation in design and finishes, versatility in applications, advancements in manufacturing technologies, digital printing technology, collaborations with architects and designers, fire-resistant technologies..
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Segmentation & Regional Insights
The phenolic panel market covered in this report is segmented –
1) By Type: Sandwich, Plain
2) By Class: Class A, Class B, Other Classes
3) By Application: Interior, Exterior, Furniture, Air Conditioning Duct Panel, Other Applications
4) By End-Use Industry: Construction, Marine, Transportation, Aerospace And Defense, Other End-Users
Europe was the largest region in the phenolic panel market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the phenolic panel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growth in the construction industry is expected to drive the growth of the phenolic panel market going forward. The construction industry refers to the industrial branch of manufacturing and trade related to building, repairing, renovating, and maintaining infrastructures. Because of their flexibility and versatility, phenolic panels are replacing steel and wood designs while offering a longer life span compared to other materials such as wood in construction. For instance, in September 2021, according to Oxford Economics, a UK-based economic information services company, the global construction output by 2030 is anticipated to increase by 42%, or $4.5 trillion, to reach USD 15.2 trillion. Thus, the growth in the construction industry will drive the growth of the phenolic panel market.
Key Industry Players
Major companies operating in the phenolic panel market report are Asahi Kasei Corporation, ASI Group, Bobrick Washroom Equipment Inc., Broadview Holding BV, Fiberesin Industries Inc., Fundermax GmbH, General Partitions Manufacturing, Kingspan Group plc., Wilsonart International Holdings LLC, Werzalit of America Inc., Trespa International BV, SI Group, Formica Group, Panel Decor Private Limited, Arpa Industriale S.p.A., Abet Laminati S.p.A., OMNOVA Solutions Inc., Greenlam Industries Ltd., Merino Group, Stylam Industries Ltd., Century Plyboards Ltd., Hexcel Corporation, Kolon Industries Inc., Mitsubishi Chemical Corporation, SGL Carbon SE, Solvay SA, Teijin Limited, Alstrong Enterprises India Pvt Ltd., Alubond U.S.A., Aludecor Lamination Pvt. Ltd., Alstone Industries Pvt Ltd., Eurobond Industries Pvt Ltd.
The phenolic panel market report table of contents includes:
1. Executive Summary
2. Phenolic Panel Market Characteristics
3. Phenolic Panel Market Trends And Strategies
4. Phenolic Panel Market – Macro Economic Scenario
5. Global Phenolic Panel Market Size and Growth
…..
32. Global Phenolic Panel Market Competitive Benchmarking
33. Global Phenolic Panel Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Phenolic Panel Market
35. Phenolic Panel Market Future Outlook and Potential Analysis
36. Appendix
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