Global Phenolic Boards Market Size, Share, Growth, Analysis, Demand, Outlook, Report, Forecast 2023-2028
Global Phenolic Boards Market Outlook
According to a new report by Expert Market Research titled “Global Phenolic Boards Market Size, Share, Analysis, Report, Demand, Forecast 2023-2028″, the global phenolic boards market is projected to grow at a CAGR of 2.9% between 2023 and 2028. Aided by the growth in the construction industry and increase in demand for materials that are sustainable, the market is expected to grow significantly by 2028.
Phenolic boards are high-density overlay panels manufactured using phenolic resins, known for their exceptional durability, moisture resistance, and fire resistance. These attributes make them an excellent choice for a myriad of applications, such as in construction, furniture, partitions, and signage. With a versatile range of applications and an array of benefits like longevity, resilience to environmental factors, and aesthetic appeal, phenolic boards have gained significant attention in the global market.
The escalating demand for durable and fire-resistant materials in the construction sector is driving the global phenolic boards market growth. With the increasing awareness about building safety and sustainability, the industry has experienced a significant shift towards high-quality, fire-resistant materials, leading to a surge in demand for phenolic boards. Additionally, the need for low maintenance, easy-to-clean surfaces in public buildings, schools, and hospitals has further elevated the demand for phenolic boards.
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The burgeoning applications of phenolic boards in various industries also play a significant role in boosting the phenolic boards market expansion. In the furniture industry, phenolic boards are highly valued for their resistance to wear and tear, moisture, and chemical damage, making them an ideal choice for high-use environments. The signage industry utilises phenolic boards due to their excellent printability and durability, essential for outdoor advertising and informational signs.
Moreover, the increasing demand for sustainable and energy-efficient materials in the construction industry has led to an increased focus on phenolic boards. With the global drive towards environmental sustainability and energy conservation, phenolic boards, known for their thermal insulation properties, have emerged as a crucial component in the construction of energy-efficient buildings, thereby propelling the phenolic boards market growth.
Further, rapid urbanisation coupled with increasing disposable income has led to a boom in construction activities, particularly in emerging economies. This trend, along with government initiatives promoting safer and greener buildings, is expected to significantly contribute to the phenolic boards market development.
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Global Phenolic Boards Market Segmentation
The market can be divided based on thickness, application, end use, and region.
Market Breakup by Thickness
- Less than 40 mm
- More than 40 mm
Market Breakup by Application
- Interior
- Exterior
- Insulation Panels
- Furniture
- Others
Market Breakup by End Use
- Residential
- Commercial
- Industrial
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global phenolic boards companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Spigo Group
- Kingspan Group
- Asahi Kasei Corporation
- LX Hausys, Ltd
- SAVI CO., LTD
- Changzhou Zhongtian Fireproof Decorative Sheets Co., Ltd.
- Yalong Wood Co., Ltd.
- Langfang Sanxing Chemical Industry Co., Ltd.
- UNILIN Insulation
- Fiberesin Industries
- Others
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