Phenolic Boards Market Innovations, Technology Growth and Research by 2022-2032
Phenolic boards are rapidly gaining traction across the chemicals and materials industry all over the world. This is driving the global phenolic boards market. The global phenolic boards market is predicted to reach a valuation of US$3.5 Bn in 2022. It is expected to grow at a CAGR of 3.63% reaching a value of US$5.0 Bn by 2032.
Phenolic boards or phenolic panels are produced by pressing phenolic resins with woven cellulose fabrics under extremely high pressure. These boards are used in the construction sector, in the manufacturing of furniture, and in other such processes of creation.
The market is registering substantial growth owing to its increasing usage in end-use industries. Beneficial properties of phenolic boards like fire resistance, water-proof, weed, and termite resistance are pushing the demand for the material across multiple industry vertices.
Furthermore, growing urbanization paired with the rising population growth has led to an increase in building and construction activities. Phenolic boards are in high demand in the construction sector. These boards are also utilized in the building of false ceilings, wall partitions, and insulating units. With increasing consumer spending on building and construction activities, phenolic boards are in high demand. All this contributes to the market expansion of phenolic boards across the world.
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Competitive Landscape
Spigo Group, Guangdong Yuhua Building Materials Co., Ltd., Linyi Jiate Import & Export Co., Ltd., Phenolam India Pvt. Ltd., UNILIN, Kingspan Group, SEKISUI CHEMICAL CO., LTD., Asahi Kasei Corporation, Unitech Enterprise Private Limited, LINYI CONSMOS WOOD INDUSTRY CO., LTD., Changzhou Zhongtian Fireproof Decorative Sheets Co., Ltd., Shallin Electronics Co., Ltd., Linyi Yachen Wood Co., Ltd., Shandong Green Plastic Co., Ltd., Stonewood Architectural Panel, Shouguang Fuji Wood Industry Co., Ltd., Sourci, OKCHEM, LG HAUSYS and Fiberesin Industries, Inc., among others are some of the major players in the phenolic boards market that are profiled in the full version of the report.
The global phenolic boards market is a highly competitive market. Major players in the market are investing in research and development activities so as to release novel products into the market to gain a competitive edge.
More Insights into the Phenolic Boards Market Report
In its latest report, FMI offers an unbiased ****ysis of the global phenolic boards market, providing historical data from 2017 to 2021 and forecast statistics for the period 2022 to 2032.
To understand the global market prospect, growth, and scope, the market is segmented based on product type (Phenolic Boards Measuring ≤ 40 mm, Phenolic Boards Measuring >40 mm), application (building and construction, interior application (bathroom & toilet partitions, interior partitions, cubicles), exterior application (wall claddings), insulation panels, furniture, others (countertops, screens, truck beds)), end use (residential, commercial, industrial) and region.
