Phenolic Resin Market Trends

Growth Drivers

• Growing Demand for Consumer Goods and Appliances

Various consumer goods or appliances which are produced contain phenolic resin. Kitchen wear, handles, knobs, and bathroom are some of the phenolic resin appliances.

• Rising Advantages to Petrochemical Sector

High-strength fiberglass products are coated with phenolic resins in layers, saturating the substrate to form a bonded laminate surface that is fully cured through heat treatment. A thermoset polymer matrix is what is used to increase a product's resistance properties for demanding applications. The enhanced temperature resistance, corrosion resistance, and better mechanical stability of industrial phenolic resin products are their main advantages. This is beneficial to the petrochemical industry.

• Surge in Use in Pharmaceutical Industry

Phenolic resin has been extensively used in the pharmaceutical industry for manufacturing various pharmaceutical instruments such as dental materials, laboratory equipment, and medical devices. This is owing to its resistance to chemicals such as acids, bases, salts, halogens, organic compounds, solvents, and biological stains.

Challenges

• Fluctuating Price of Raw Material
• Environmental Regulations - At room temperature, phenolic resins are an odorless, combustible gas. Phenolic resins are used in the production of composite wood goods, including hardwood, plywood, particleboard, and medium-density fiberboard, as well as building supplies, insulation, paints and coatings, and paper products. If consumed, breathed, or absorbed into the body, phenol, a caustic chemical, could be poisonous. Formaldehyde and phenol thus face intense regulations in many countries.
• Not Suitable for Operating in Environments with Temperatures Above 350 Degrees Fahrenheit.