Phenolic Boards Market Size

Phenolic Boards Market size was over USD 3.82 billion in 2024 and is projected to reach USD 6.44 billion by 2037, witnessing around 4.1% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of phenolic boards is assessed at USD 4.07 billion.

The growth of the market can be attributed to its usage in the construction industry for both interiors as well as external applications. It is estimated that around 14 million homes in the United States are at risk of flooding. Phenolic boards are infused with a special coating that enables them to withstand moisture, heat, and chemical attack, which is predicted to create a greater demand for them in the construction industry. The increasing spending capacity of people with rising disposable income is estimated to drive the construction sector. The construction sector uses huge amounts of phenolic boars for floors, tables, cupboards, and furniture.

Phenolic boards are made by splicing wooden sheets together using Phenol-Formaldehyde. They are also called phenolic panels. These boards are used in the manufacture of furniture, countertops, and cabinetry as they are available in different sizes, colors, and dimensional stability. The booming furniture industry is expected to widen the global phenolic boards market size. For instance, the global export of furniture amounted to USD 190 billion, while the import of furniture was valued at USD 175 billion in 2021. The furniture industry is growing widely with the rising economic standards of people. Also, the increasing number of cafes, restaurants, motels, hotels and educational institutions increases the applications of phenolic boards. The phenolic boards are water-resistant, and heat-resistant which increases their use in the furniture sector. People prefer products that are durable and long-lasting over temporary and cheap ones.