Lucintel's latest market report analyzed that South East Asian phenolic resin provides attractive opportunities in construction, transportation, electrical and electronics, furniture, and industrial. The South East Asian phenolic resin market is expected to reach $568.5 million by 2028 with a CAGR of 4.5%. In this market, construction is the largest segment by end use, whereas molding compound is largest by application. The includes the use of bio based phenolic resin, rosin modified phenolic resin, boron-modified phenol formaldehyde resin-based self-healing matrix for cf/siboc composites provides strategic growth path in this market.
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Based on end use, the South East Asian phenolic resin market is segmented into construction, transportation, electrical and electronics, furniture, industrial and others. The construction segment accounted for the largest share of the market in 2022 and is expected to register the highest CAGR during the forecast period, due to increasing demand for heat resistant material, low-cost material, and manufacturing of high-performance composites.
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The South East Asian Phenolic Resin Market is marked by the presence of several big and small players. Some of the prominent players offering South East Asian phenolic resin include Thai GCI Resitop Co. Ltd, Malayan Adhesives and Chemicals Snd. Bhd., Formal Chemical (M) Snd. Bhd., Jowat Adhesives, Sumitomo Bakelite Co. Ltd, DIC Corporation, AstaChem, Pt. Intanwijaya International Tbk, Itochu, Thailand, and Aica Kogy.
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