Europe Phenolic Resin Market
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Europe Phenolic Resin Market was valued at USD 1530 Mn in 2019 and is expected to reach USD 2342.39 million in 2027 at a CAGR of 5.47% over forecast period 2020-2027.
Phenolic resins are synthetic polymers obtained by the reaction of phenol or substituted phenol with formaldehyde. Europe market is little bit mature and is expected to grow at a CAGR of 5.47% over forecast period, but demand from Central and Eastern Europe is expected to gain momentum for the phenolic resin. Wood adhesive application is expected to drive the phenolic resin market in this region. Automotive is the largest end-use industry with 425.80 Mn market share in 2019 and is expected to keep its dominance over forecast period due to the growing automobile sales.
EPRA (European Phenolic Resin Manufacturing Association) is promoting, developing and maintaining a positive image for phenolic resins by promoting their safe and proper manufacturing. EPRA has 13 Phenolic Resin producing members representing the vast majority of the European industry. The member companies are covering more than 90% of the European market.
By region Europe Phenolic Resin Market is segmented into Germany, France, Russia, U.K, Spain, Italy and Rest of Europe. Among all of these Germany is largest and fastest growing market. Germany phenolic resin market was valued at xx Mn in 2019 and is expected to reach at USD xx Mn by 2027 at a CAGR of 6.26% from 2020-2027. Increasing demand from Molding, Insulation and Wood adhesive application is mainly driving the Germany Phenolic Resins market.
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Last Update : 03 July 2020
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