Earlier this year, Arclin Inc., a chemistry-based producer of engineered products for the construction, transportation, agriculture, and other industries, announced that it had signed an exclusive agreement with INSERCO Industrie Service GmbH for the support and expansion of Arclin's South American business. By utilizing INSERCO's industry knowledge, this new alliance would promote Arclin's growth and presence in South American markets. The agreement's terms weren't made public.
With effect from April 1, 2023, Asahi Kasei Asaclean Americas ("AKAC"), a supplier of the top-selling purging compounds and concentrates worldwide, and Asahi Kasei Plastics North America ("APNA"), a leading international compounder of advanced designed polymers and polypropylene, would merge. The United business would conduct business as APNA and have its main office in Fowlerville, Michigan.
Author Credits: Smruti Ranjan, Rajrani Baghel
Report ID: 4988
Published Date: Jun 02, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
The major factors driving the growth of the market are growing demand for consumer goods and appliances, rising advantages to the petrochemical sector, and a surge in use in the pharmaceutical industry.
The market size of phenolic resin is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2023 â€“ 2035.
The major players in the market are Arclin Inc., Arizona Chemical Ltd, Asahi Kasei Corporation, Ashland Inc., and others.
The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, application, end-use industry, and region.
The novolac segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Fluctuating prices of raw materials, environmental regulations, and not being suitable for operating in an environment temperature above 350 degrees Fahrenheit are estimated to be the growth-hindering factors for the market expansion.
The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.