Phenolic Resin Market Share

APAC Market Statistics

The phenolic resin market share of phenolic resin in Asia Pacific is projected to have the highest growth by 2037. This gain is led by growing investment in electric vehicles. This increases investments to install phenolic resin. Additionally, electric vehicles need lightweight components, and hence phenolic resin satisfies that. China is known to be leading in manufacturing phenolic resin and the consumption of electric vehicles is the highest in this country, making them the largest consumer.

North America Market Forecast

The North America phenolic resin market is poised to have significant growth in the coming years. The growth of market in this region is expected to grow on account of the increasing demand for residential and commercial spaces.