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Technavio has published a new report on the global phenolic resin market from 2017-2021.
September 12, 2017
By: Anthony Locicero
Copy Editor, New York Post
The global phenolic resin market is expected to grow at a CAGR of around 5 percent during the forecast period, according to Technavio’s latest report. In this report, Technavio covers the market outlook and growth prospects of the global phenolic resin market for 2017-2021. The market is segmented based on type, which includes resol and novolac and application, which include wood adhesives, molding, laminates, and insulation. Phenolic resins are extensively used as bonding adhesives in the production of composites wood panels or wood-based panels, imparting water resistance for exterior building applications such as external house walls and roofs. Phenolic resins are used in the specialty wood adhesives industry, typically in combination with polyvinyl acetate (PVA). Liquid phenolic resins with low free phenol and formaldehyde contents are used in adhesive applications. The market for wood adhesives is expected to grow at a moderate rate due to the increased use of wood in construction globally. Technavio’s chemicals and materials research analysts categorize the global phenolic resin market into the following segments by regions:
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