Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Phenoxy Resin Market size was valued at USD 130.82 million in 2024 and is estimated to reach USD 173.60 million by the end of 2037, expanding at a CAGR of 2.2% during the forecast period, i.e., 2025-2037. In 2025, the industry size of phenoxy resin is assessed at USD 133.70 million.
The growth of the phenoxy resin market is driven by its widespread applications across various industries, including composites, protective coatings, and adhesives utilized in consumer goods, electronics, automotive, and aerospace sectors. Due to the increasing need for strong and efficient materials, manufacturers are incorporating phenolic resins in a diverse array of applications. The exceptional adhesive properties, flexibility, and chemical resistance of these resins render them suitable for numerous uses. In response to the rising focus on sustainable solutions, bio-based phenoxy resins have been developed to meet consumer needs and regulatory requirements. The rapid growth in the use of these resins reflects the increasing priority companies place on sustainability. Moreover, the phenoxy resin market is expanding as new advancements in polymer technology continue to emerge.
According to the World Paint and Coatings Industry Association (WPCIA), the worldwide paint and coatings industry was worth USD 185.5 billion in 2023, a growth rate of 3.2% from the previous year. The growing need for coatings across a range of industries, including manufacturing, automotive, and construction, was the main factor in this expansion. At USD 105.8 billion, or more than 53% of the total market share, architectural coatings held the biggest market share. The rising demand for low VOC coatings and the application of cutting-edge technologies such as nanotechnology in coating manufacturing helped to fuel this expansion. In addition, industrial coatings experienced notable expansion in 2023, reaching a valuation of USD 78.31 billion. The growing need for corrosion-resistant coatings across a range of industries was the main driver of this expansion. The expansion of this market was also aided by the rising need for high-performance coatings and powder coatings for industrial uses.
Phenoxy Resin Market: Growth Drivers and Challenges
Growth Drivers
- Rising demand for high-performance coatings: The growing need for high-performance coatings across a range of end-use sectors is one of the main factors propelling the phenoxy resin market's expansion. Due to their exceptional weatherability, chemical resistance, and durability, these coatings are perfect for use in the automotive, aerospace, and architectural industries. Manufacturers are increasingly using phenoxy resins because of their exceptional adhesion qualities and versatility as industries look for ways to improve the quality and durability of their goods. The development of phenoxy resin formulations is being further aided by the trend toward eco-friendly and lightweight materials, which enables them to satisfy strict environmental standards while preserving high-performance qualities.
- Increasing adoption in the 3D printing industry: In recent years, 3D printing, sometimes referred to as additive manufacturing, has expanded quickly in several industries, including consumer goods, automotive, healthcare, and aerospace. The fabrication of functional prototypes, tools, and end-use parts is one area where phenolic resins have shown great promise for 3D printing applications due to their exceptional mechanical qualities, chemical resistance, and thermal stability. Phenoxy resins provide precise, accurate products with smooth surface finishes because they shrink little and have good dimensional stability during printing. This qualifies them for uses including consumer electronics, medical equipment, and aerospace components that call for precise tolerances and complex designs.
Challenges
- Environmental concerns: As governments throughout the world step up their efforts to battle climate change and decrease pollution, industries are under increasing pressure to adopt sustainable practices and reduce their environmental imprint. Regulators and environmental campaigners are concerned about phenolic resins because, such as many other chemical compounds, they can present environmental dangers during production, use, and disposal. The strict environmental restrictions and growing environmental concerns are a major restricting factor affecting the phenoxy resin market.
- Regulation of volatile organic compounds (VOCs): The production and use of adhesives and coatings release volatile organic compounds (VOCs). VOCs can negatively impact both the environment and human health in addition to contributing to air pollution. As a result, producers are compelled to create low-VOC or VOC-free coating and adhesive compositions since regulatory bodies place stringent restrictions on VOC emissions. The creation of ecologically friendly formulations frequently involves higher production costs and may sacrifice some performance features, which presents obstacles for market expansion, even though certain phenoxy resin-based products satisfy these regulatory standards.
Phenoxy Resin Market: Key Insights
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
2.2% |
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Base Year Market Size (2024) |
USD 130.82 million |
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Forecast Year Market Size (2037) |
USD 173.60 million |
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Regional Scope |
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Phenoxy Resin Segmentation
Type (Solid Phenoxy Resins, Solution Phenoxy Resins, and Waterborne Phenoxy Resins)
The solid phenoxy resin market segment is projected to gain a 42.3% share through 2037, primarily due to their superior mechanical qualities, chemical resistance, and adhesion qualities. Solid phenoxy resins are frequently employed in coatings, adhesives, and sealants. Applications needing high-performance coatings with improved weather resistance and durability are better suited for them.
Another important market sector that held a sizable portion of the industry was solution phenoxy resins. These resins are frequently utilized in wood coatings, varnishes, and printing inks. Usually, they are dissolved in solvents to create transparent, high-gloss coatings.
On the other hand, waterborne phenoxy resins are becoming more popular because of their low volatile organic compound (VOC) content and environmental friendliness, which makes them appropriate for coatings and adhesives in sectors with stringent environmental laws. Although they have a smaller market share than solid, solution, and waterborne phenoxy resins, other groups may include unique formulations designed for particular purposes.
Application (Coatings, Adhesives, Composites, Plastics, and Others)
The coatings segment is poised to grow at a significant phenoxy resin market share by 2037. Coatings manufactured from phenoxy resin are widely utilized in a variety of industries due to their excellent binding, resistance to chemicals, and durability. In the automotive, aerospace, and marine industries, they are widely employed to apply protective coatings on metal surfaces.
Adhesives have emerged as another prominent segment, accounting for a sizable phenoxy resin market share. Adhesives based on phenolic resin have excellent bonding qualities and are frequently used in electronics assembly, woodworking, and construction. Because of their lightweight and high-strength properties, composites, which consist of reinforced materials such as carbon fiber or fiberglass embedded in a phenoxy resin matrix, are becoming more and more popular in sectors such as aircraft and sports equipment manufacture.
Phenoxy resin is used in plastics, albeit in a lesser market, as a strengthening agent or enhancer to improve the flexibility and impact resistance of a variety of plastic products. Phenoxy resin is also used in textiles, printing inks, and electrical insulation materials to meet the demands of particular industries.
Our in-depth analysis of the global phenoxy resin market includes the following segments:
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Type |
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Application |
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End use |
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Customize this ReportPhenoxy Resin Industry - Regional Synopsis
North America Market Statistics
North America is expected to lead the phenoxy resin market with a share of 39.3% during the forecast period. The market for phenoxy resins is used in the electronics sector to encapsulate and protect electronic components. Both their heat stability and chemical resistance are essential. This guarantees how long electronic devices will last. There are several reasons for the increased demand for electronic devices, including the growing use of digital media, the Internet, cloud computing, and artificial intelligence (AI) gadgets.
The U.S. leads from the forefront due to its enhanced research and development capabilities and high need for automotive products. The phenoxy resin market is growing due to the strong demand from the automotive, construction, and electronics sectors, the region's high level of technological innovation, and its emphasis on sustainable materials, which is driving the adoption of phenoxy resins, as well as the growing investments in research and development activities aimed at improving resin performance and broadening application areas. A significant portion of the U.S. economy, the construction sector, has been growing steadily. In January 2024, building expenditures in the U.S. were USD 2,122,229 million, up from USD 1,932,302 million in 2022.
On the other side, in Canada, the phenoxy resin market is expanding steadily due to the growing need for high-performance adhesives and coatings in the building and automotive sectors. The region's strict environmental laws are encouraging producers to use eco-friendly and sustainable resins, which is driving market expansion. The adaptability and compatibility of water-based phenoxy resins with a broad variety of substrates and additives make them appropriate for a number of applications. Among other applications, they can be found in adhesives, wood coatings, industrial coatings, automotive coatings, and architectural coatings. Waterborne phenoxy resins are also perfect for demanding applications where performance is crucial because of their exceptional adhesion, chemical resistance, and durability.
Asia Pacific Market Analysis
The Asia Pacific phenoxy resin market is undergoing significant transformation, influenced by a combination of environmental initiatives and industrial demands. Phenoxy resins are appropriate for use in cutting-edge applications that demand great mechanical strength, chemical resistance, and thermal stability due to their special qualities. The need for specialty materials such as phenoxy resins is expected to rise as these sectors develop and expand. In addition, the use of phenoxy resins in 3D printing and additive manufacturing technologies opens up new market opportunities by empowering producers to efficiently create intricate and high-performing components.
In China, the demand for sealant has been fueled by the expanding construction and retail industries. Over the past years, China has seen a sharp rise in urban building. These resins are utilized in composites, adhesives, and coatings that improve the durability and structural soundness of building projects. The need for phenoxy resins in construction applications is expected to rise as the global building industry experiences strong growth, especially in developing nations. China's construction industry produced 315.912 billion yuan in 2023, a 5.8% increase from the previous year. It contributes 25% of GDP and significantly affects the national economy, which is a key factor propelling its expansion.
In India, the demand for paints and coatings is also anticipated to benefit from the growing aerospace and shipping industries. The airplane is painted to prevent corrosion. With an emphasis on industrial and decorative paints, Berger Paints India announced in January 2024 that it would invest more than USD 1.17 billion in a new greenfield composite plant in Odisha. The phenoxy resin market under study stands to gain from this audacious investment, which is expected to soon stimulate the demand for paints and coatings. About USD 7.2 billion and USD 16.95 billion, respectively, will be the company's capital investments for the factories in Bengal and Odisha. The facility could provide paint products for the consumer, construction, heavy-duty equipment, and transportation industries.
Companies Dominating the Phenoxy Resin Landscape
- Huntsman International LLC
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- ASK Chemicals GmbH
- Hexion Inc.
- KUKDO Chemical (Kunshan) Co., Ltd.
- Merck KGaA
- SpecialChem
- SABIC
- Eastman Chemical Company
Leading companies in the phenoxy resin market are actively engaged in research and development to innovate and introduce new products to maintain a competitive edge in the market. The phenoxy resin market is characterized by a competitive environment, with several major competitors attempting to increase their market share through partnerships, mergers, acquisitions, and new product development. Businesses are concentrating on diversifying their product lines and allocating resources towards research and development to meet the changing needs of end-user sectors. Offering high-performance, environmentally friendly resin solutions that satisfy strict industrial standards is what fuels the phenoxy resin market's fierce competition.
In the News
- In February 2024, DCM Shriram declared its intention to establish a greenfield factory in the coming years, investing more than USD 10 billion in the production of sophisticated material products. Solvent cuts, hardeners, designed resins, and reactive diluents are among the many innovative materials products offered for a range of industries, including electronics, wind turbines, electric vehicles (EVs), fireproofing, and light weighting.
- In May 2024, PPG intends to build a paint and coatings production facility in Tennessee's Loudon County. The 250,000-square-foot facility, PPG's first new manufacturing unit in the United States in over 15 years, will initially manufacture paints and coatings for automakers and automotive parts suppliers. Other industrial sectors, such as consumer goods, heavy machinery, building and construction, and transportation, may eventually be supplied by the facility.
Author Credits: Rajrani Baghel
- Report ID: 7652
- Published Date: May 09, 2025
- Report Format: PDF, PPT
