Phenolic Boards Market Analysis

Application (Building & Construction, Interior Applications, Insulation Panels, Furniture)

The global phenolic boards market is segmented and analyzed for demand and supply by application into building & construction, interior applications, insulation panels, furniture, and others. Out of these, the insulation panels segment is estimated to gain the largest market share of 35% over the projected time frame. The rising use of insulation panels and industrial insulation around the world is estimated to rise the growth of the market. The phenolic boards are used for insulation material to reduce the loss of heat. As per the estimations, the uninsulated house loses about 30% from ceilings, over 20% from walls, and over 18% via floor and windows of the house. The insulation property of phenolic boards helps to prevent the loss of energy and regulate the internal temperature. A lot of energy is saved by using phenolic boards for insulation. These are also used as sound insulators as they are made of high-density fiber with phenolic resin. All these together give the characteristics of thermal, mechanical, and acoustic strength to the phenolic boards. The insulation phenolic boards are used in the construction of floors, the building of walls, ceilings, and small chambers.

End-user (Residential, Commercial, Industrial)

The global phenolic boards market is also segmented and analyzed for demand and supply by end-use into residential phenolic boards, commercial phenolic boards, and industrial phenolic boards. Of these sub-segments, the residential phenolic boards are projected to acquire a larger market share of 48% during the forecast period owing to the steady increase in the construction of buildings to house a growing population. In the United States, the construction industry contributed to around 4% of the national GDP in 2021. The construction of commercial, residential, and entertainment buildings is rising across the world. The increasing disposable income of people makes them affordable for everyone. The increase in the number of hospitals, educational institutions, and daycare centers for the well-being of people is also estimated to rise the market growth. The increasing number of government projects to provide permanent houses for poor and lower middle-class people is increasing the construction sector. The furniture, tables, floor, doors, and windows are made of phenolic boards to prevent damage from corrosion in the future. The phenolic boards are lightweight, easy to handle, and free from termite damage. Termites are insects that live on eating wood and plant materials.

Our in-depth analysis of the global market includes the following segments: