Phenolic Resin Market Size

Phenolic Resin Market size was valued at USD 10.01 billion in 2024 and is expected to cross USD 19.27 billion by the end of 2037, expanding at more than 5.3% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of phenolic resin is estimated at USD 10.43 billion. This growth is driven by the growing production of wood which is used in laminates. In a process called a Continuous Process Line (CPL), Kraft paper coated with a resol-type phenolic resin serves as a support layer. A second decorative paper impregnated with melamine resin serves as the surface layer. These are pressed together at high temperatures and under low pressures for making thin laminates.

Furthermore, the growing production of automobiles also boosts the phenolic resin market demand. The production of automobiles reached over 79 million units in 2021. In comparison to the previous year, this statistic represents a rise of about 2%. Hence, the use of phenolic resin is growing in automotive parts owing to its high heat resistivity.