Market Overview:
The global novolac resins market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for novolac resins from various end-use industries, such as construction, automotive & transportation, furniture, and others. In terms of type, the thermoplastic segment is expected to dominate the global novolac resins market during the forecast period owing to its properties such as high heat resistance and chemical resistance. In terms of application, construction is expected to be one of the fastest-growing segments in the global novolac resins market during 2018–2030 due to an increase in infrastructure development activities across regions.
Product Definition:
Novolac resins are thermoset, phenolic resin systems used in the manufacture of high- performance industrial coatings and adhesives.
Thermoplastic:
Thermoplastic is a polymer with high molecular weight, which has the ability to be molded into various shapes. They are resistant to heat and can retain their properties at elevated temperatures.
Thermosetting:
Thermosetting is a type of resin that contains cross-linking agents and is heated to a very high temperature (above 200OC) for several hours. The mixture then cools down and sets into an uncross-linked polymer. Thermosetting resins are used in the production of composites, which are extensively used in industries such as automotive & aerospace, construction, electrical & electronics and marine among others.
Application Insights:
The construction application segment led the global novolac resins market in 2017 and is projected to witness significant growth over the forecast period. Novolac resins are used in a variety of construction applications such as flooring, roofing, cladding systems, waterproofing membranes and coatings. The product has excellent heat resistance properties which make it suitable for use in hot water pipes underfloor heating systems. It is also used extensively for rendering buildings resistant to cold weather conditions owing to its high thermal insulation properties.
The automotive & transportation application segment accounted for 15% of the overall revenue share in 2017 on account of increasing demand from passenger cars and light commercial vehicles (LCVs). Novolac resin-based products are widely utilized across LCV interiors including upholstery fabrics, seat covers, door panels and dashboard components due to their softness along with durability required by these vehicles.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region is also anticipated to register a significant CAGR of XX% from 2018 to 2030 owing to rapid industrialization, urbanization, and economic growth in emerging countries such as China, India, Indonesia, Vietnam among others.
The construction industry has witnessed tremendous growth across Asia Pacific economies due to increasing government spending on infrastructure projects such as airports terminals buildings bridges dams among others which has led the demand for building materials including cement steel tiles adhesives etc., thereby driving the demand fornovolac resins in construction applications globally over the past few years.
Growth Factors:
- Increasing demand from end-use industries such as construction, automotive and electrical & electronics
- Rising awareness about the benefits of Novolac Resins among consumers
- Growing investments by key players in research and development to develop new products
- Expansion of distribution networks by manufacturers to reach a wider customer base
- Emergence of innovative applications for Novolac Resins in various end-use industries
Scope Of The Report
Report Attributes
Report Details
Report Title
Novolac Resins Market Research Report
By Type
Thermoplastic, Thermosetting
By Application
Construction, Automotive & Transportation, Furniture, Others
By Companies
Hexion, Georgia Pacific Chemicals, Sumitomo Bakelite, Kolon Industries, DIC Corporation, BASF, Ashland, Hexion
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
202
Number of Tables & Figures
142
Customization Available
Yes, the report can be customized as per your need.
Global Novolac Resins Market Report Segments:
The global Novolac Resins market is segmented on the basis of:
Types
Thermoplastic, Thermosetting
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Construction, Automotive & Transportation, Furniture, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Hexion
- Georgia Pacific Chemicals
- Sumitomo Bakelite
- Kolon Industries
- DIC Corporation
- BASF
- Ashland
- Hexion
Highlights of The Novolac Resins Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Thermoplastic
- Thermosetting
- By Application:
- Construction
- Automotive & Transportation
- Furniture
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Novolac Resins Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Novolac resins are a type of resin that is used in the manufacturing of various products. These resins are typically used in the production of plastic and rubber products.
Some of the major companies in the novolac resins market are Hexion, Georgia Pacific Chemicals, Sumitomo Bakelite, Kolon Industries, DIC Corporation, BASF, Ashland, Hexion.
The novolac resins market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Novolac Resins Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Novolac Resins Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Novolac Resins Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Novolac Resins Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Novolac Resins Market Size & Forecast, 2018-2028
4.5.1 Novolac Resins Market Size and Y-o-Y Growth
4.5.2 Novolac Resins Market Absolute $ Opportunity
Chapter 5 Global Novolac Resins Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Novolac Resins Market Size Forecast by Type
5.2.1 Thermoplastic
5.2.2 Thermosetting
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Novolac Resins Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Novolac Resins Market Size Forecast by Applications
6.2.1 Construction
6.2.2 Automotive & Transportation
6.2.3 Furniture
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Novolac Resins Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Novolac Resins Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Novolac Resins Analysis and Forecast
9.1 Introduction
9.2 North America Novolac Resins Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Novolac Resins Market Size Forecast by Type
9.6.1 Thermoplastic
9.6.2 Thermosetting
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Novolac Resins Market Size Forecast by Applications
9.10.1 Construction
9.10.2 Automotive & Transportation
9.10.3 Furniture
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Novolac Resins Analysis and Forecast
10.1 Introduction
10.2 Europe Novolac Resins Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Novolac Resins Market Size Forecast by Type
10.6.1 Thermoplastic
10.6.2 Thermosetting
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Novolac Resins Market Size Forecast by Applications
10.10.1 Construction
10.10.2 Automotive & Transportation
10.10.3 Furniture
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Novolac Resins Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Novolac Resins Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Novolac Resins Market Size Forecast by Type
11.6.1 Thermoplastic
11.6.2 Thermosetting
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Novolac Resins Market Size Forecast by Applications
11.10.1 Construction
11.10.2 Automotive & Transportation
11.10.3 Furniture
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Novolac Resins Analysis and Forecast
12.1 Introduction
12.2 Latin America Novolac Resins Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Novolac Resins Market Size Forecast by Type
12.6.1 Thermoplastic
12.6.2 Thermosetting
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Novolac Resins Market Size Forecast by Applications
12.10.1 Construction
12.10.2 Automotive & Transportation
12.10.3 Furniture
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Novolac Resins Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Novolac Resins Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Novolac Resins Market Size Forecast by Type
13.6.1 Thermoplastic
13.6.2 Thermosetting
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Novolac Resins Market Size Forecast by Applications
13.10.1 Construction
13.10.2 Automotive & Transportation
13.10.3 Furniture
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Novolac Resins Market: Competitive Dashboard
14.2 Global Novolac Resins Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Hexion
14.3.2 Georgia Pacific Chemicals
14.3.3 Sumitomo Bakelite
14.3.4 Kolon Industries
14.3.5 DIC Corporation
14.3.6 BASF
14.3.7 Ashland
14.3.8 Hexion
