Demand for phenolic boards is expected to reach US$ 3.5 billion in 2022 and is projected to increase at a CAGR of 3.63% to reach US$ 5.0 billion by 2032. The widespread use of phenolic boards in the chemicals and materials industry is responsible for the market’s expansion.
Phenolic panels/compact phenolic panels (better known as phenolic boards) could be referred to as plates comprising a core made up of resin and thermosetting, high-density cellulose fibers. Different materials of several furnishes are used over the compact core. They are inclusive of wood panels, laminates, and likewise. The exclusive coating does give phenolic panels an exclusive protection against moisture. They are generally used for manufacturing furniture and various other wooden objects to be used in toilets, bathrooms, and changing rooms.
Cabins could be made from phenolic panels for showers, toilets, and likewise. Lockers could be made from phenolic panels for public areas and changing rooms. Counter tops could be made from phenolic boards to serve overmounted basins. Benches in changing rooms could be made from phenolic panel. Screens could be made from phenolic panels for the offices (used as room dividers or for isolating work areas). Façade cladding could be done by making use of phenolic boards.
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Besides, aspects like appropriate reaction to fire could contribute toward higher sales of phenolic boards. Carpinteria Paco (a division of Spigo Group manufacturing, supplying, and installing woodworking and furniture) makes phenolic panel.
Phenolic boards have made a beeline to exterior and interior applications like sports facilities, public buildings, and various other commercial buildings.
The manufacturers are incorporating novel techniques for engineering phenolic resins to meet requirements of end-use industries. They are actually emphasizing on improvement in several performance metrics like resistance against attack of chemicals, dimensional stability, and resistance against collision. With environmentally-friendly materials being asked for, the global phenolic boards market is likely to grow on an innovative note going forward.
Phenolic boards do offer bigger benefits in the form of compact laminate panels. The factors driving their popularity include their properties of being anti-static, anti-impact, anti-bacterial, and being mildew proof. Decorative confetti couldn’t be imagined without compact laminates these days. Phenolic boards are also being preferred in chemical laboratories, physical laboratories, and biochemical laboratories.
At the same time, preference to plywood by certain end-users due to cost-effectiveness could hamper the phenolic boards market going forward.
Future Market Insights has entailed these facts with future perspectives in its latest market study entitled ‘Phenolic Boards Market’ with its team of analysts and consultants going for 360-degree view in its primary, secondary, and tertiary modes of research.
“Growing demand for thermosetting, high-density cellulose fibers in building materials is expected to help the phenolic boards market grow splendidly in the years to come”, says an analyst from Future Market Insights.
Key Takeaways from Phenolic Boards Market
- North America holds the largest market share due to extensive research being conducted regarding phenolic boards coupled with growing utilization of additives.
- Europe holds the second-largest market share on the similar grounds.
- The Asia-Pacific is expected to witness growth at a rapid pace due to increasing applications in the indoor architecture.
Competitive Boards
- Spigo Group has its engineers, architects, distributors, wholesalers, and final consumers to develop products used for construction of phenolic carpentries and doors.
- Kingspan Group is known for developing construction solutions with net-zero emissions for achieving sustainable future.
- Asahi Kasei Corporation provides daily-use products at reasonable prices.
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Top Key Players in the Global Market
- 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..
What does the Report state?
- The research study is based on thickness (phenolic boards measuring <= 40 mm and phenolic boards measuring >40 mm), by application (phenolic boards for building & construction, phenolic boards for interior (bathroom & toilet partitions, cubicles, interior partitions), etc.) applications, phenolic boards for exterior (wall claddings) applications, phenolic boards for insulation panels, phenolic boards for furniture, and phenolic boards for other (countertops, truck beds, screens) applications), and by end-use (residential phenolic boards, commercial phenolic boards, and industrial phenolic boards).
- With sturdiness and moisture-protection capacity, the global phenolic boards market is bound to create greater strides in the phenolic boards market.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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