Terpene Phenolic Resin Market
English Public
Market Snapshot.
The terpene phenolic resin market study is projected to earn around USD 991 million in 2023, growing at a CAGR of around 8% during the forecast period. Furthermore, the global terpene phenolic resin market is projected to reach approximately USD 145.59 million by 2035.
Market overview.
Terpene phenolic resins are a type of synthetic resin obtained by the condensation reaction of phenol and formaldehyde using terpenes as modifiers. They have excellent heat, water, oil and solubility resistance and are used in various fields such as adhesives, coatings and inks. Terpene phenolic resins have excellent adhesive strength, water resistance and chemical resistance and are increasingly used in various applications, particularly in the adhesives and sealants industry. The industry is driven by the increasing demand for adhesives and sealants in end-use industries such as packaging, automotive, construction and woodworking, and the increasing demand for environmentally friendly and sustainable adhesives and sealants is leading to an increase in demand for terpene phenolic resins. According to the research report, the global adhesives and sealants industry is estimated to grow at a CAGR of 5.7% during the forecast period and is expected to be the key growth driver for the terpene phenolic resin market.
Key market trends.
Huntsman International LLC. has announced the development of a new terpene phenolic resin, JEFFSPERSETM 4000, for 2021. The new resin is designed to improve the performance and durability of coatings, adhesives and sealants.
Kolon Industries, Inc, a South Korean company specialising in various industries such as advanced materials, chemicals and textiles, announced that it has developed a new sustainable terpene phenolic resin, KOLOPINETM. The new resin is made from renewable raw materials and is designed for use in adhesives, coatings and rubber compounds.
Growth factors:
The terpene phenolic resin market is expected to grow during the forecast period. The increasing demand for terpene phenolic resins is mainly driven by the growth of end-use industries such as automotive, construction and packaging. The unique properties of these resins, such as high adhesion, heat resistance and chemical resistance, make them ideal for use in these industries. These industries require materials that can withstand harsh environments such as high temperatures and exposure to chemicals, and terpene phenolic resins have these properties. For example, in the automotive industry, terpene phenolic resins are used to produce high-performance brake pads that can withstand extreme temperatures and provide better braking power. Similarly, in the construction industry, terpene phenolic resins are used to produce adhesives and coatings with high resistance to water, chemicals and UV radiation.
Furthermore, according to one research report, the global construction market is expected to contribute a market share of USD 1546.184 billion in 2023, growing at a CAGR of around 6.6%, which is expected to spur the global terpene phenolic resin market. Coming in. Growing demand for terpene phenolic resins in end-use industries such as automotive, construction, electrical and electronics, growing demand for lightweight and high-performance materials in the automotive industry, growing demand for terpene phenolic resins in the Asia-Pacific region, increasing use of terpene phenolic resins, technology in terpene phenolic resin production Advances These are some of the factors that will boost market growth during the forecast period.
Competitive environment
Some of the key players and manufacturers in the terpene phenolic resin market include Neuchem, DynaChem, Inc. Ltd, Skyrun Industrial Co. Limited, Triveni Chemicals, Dujodwala Paper Chemicals Ltd, FandaChem, Hangzhou Fanda Chemical Co. Ltd, Huntsman International LLC, Arakawa Chemical Industries, Kolon Industries, Inc. The study includes a detailed It includes competitive analysis, company profiles, recent trends and key market strategies.
For more information on the market research report, please visit: https://www.sdki.jp/reports/global-terpene-phenolic-resin-market-survey/58344
The terpene phenolic resin market study is projected to earn around USD 991 million in 2023, growing at a CAGR of around 8% during the forecast period. Furthermore, the global terpene phenolic resin market is projected to reach approximately USD 145.59 million by 2035.
Market overview.
Terpene phenolic resins are a type of synthetic resin obtained by the condensation reaction of phenol and formaldehyde using terpenes as modifiers. They have excellent heat, water, oil and solubility resistance and are used in various fields such as adhesives, coatings and inks. Terpene phenolic resins have excellent adhesive strength, water resistance and chemical resistance and are increasingly used in various applications, particularly in the adhesives and sealants industry. The industry is driven by the increasing demand for adhesives and sealants in end-use industries such as packaging, automotive, construction and woodworking, and the increasing demand for environmentally friendly and sustainable adhesives and sealants is leading to an increase in demand for terpene phenolic resins. According to the research report, the global adhesives and sealants industry is estimated to grow at a CAGR of 5.7% during the forecast period and is expected to be the key growth driver for the terpene phenolic resin market.
Key market trends.
Huntsman International LLC. has announced the development of a new terpene phenolic resin, JEFFSPERSETM 4000, for 2021. The new resin is designed to improve the performance and durability of coatings, adhesives and sealants.
Kolon Industries, Inc, a South Korean company specialising in various industries such as advanced materials, chemicals and textiles, announced that it has developed a new sustainable terpene phenolic resin, KOLOPINETM. The new resin is made from renewable raw materials and is designed for use in adhesives, coatings and rubber compounds.
Growth factors:
The terpene phenolic resin market is expected to grow during the forecast period. The increasing demand for terpene phenolic resins is mainly driven by the growth of end-use industries such as automotive, construction and packaging. The unique properties of these resins, such as high adhesion, heat resistance and chemical resistance, make them ideal for use in these industries. These industries require materials that can withstand harsh environments such as high temperatures and exposure to chemicals, and terpene phenolic resins have these properties. For example, in the automotive industry, terpene phenolic resins are used to produce high-performance brake pads that can withstand extreme temperatures and provide better braking power. Similarly, in the construction industry, terpene phenolic resins are used to produce adhesives and coatings with high resistance to water, chemicals and UV radiation.
Furthermore, according to one research report, the global construction market is expected to contribute a market share of USD 1546.184 billion in 2023, growing at a CAGR of around 6.6%, which is expected to spur the global terpene phenolic resin market. Coming in. Growing demand for terpene phenolic resins in end-use industries such as automotive, construction, electrical and electronics, growing demand for lightweight and high-performance materials in the automotive industry, growing demand for terpene phenolic resins in the Asia-Pacific region, increasing use of terpene phenolic resins, technology in terpene phenolic resin production Advances These are some of the factors that will boost market growth during the forecast period.
Competitive environment
Some of the key players and manufacturers in the terpene phenolic resin market include Neuchem, DynaChem, Inc. Ltd, Skyrun Industrial Co. Limited, Triveni Chemicals, Dujodwala Paper Chemicals Ltd, FandaChem, Hangzhou Fanda Chemical Co. Ltd, Huntsman International LLC, Arakawa Chemical Industries, Kolon Industries, Inc. The study includes a detailed It includes competitive analysis, company profiles, recent trends and key market strategies.
For more information on the market research report, please visit: https://www.sdki.jp/reports/global-terpene-phenolic-resin-market-survey/58344
by akiariku
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