In terms of value, the phenolic panel market is projected to register a CAGR of 6.5% during the forecast period. The global phenolic panel market size is projected to grow from USD 1.7 billion in 2020 to USD 2.4 billion by 2025, at a CAGR of 6.5% during the forecast period. In many industries such as construction, marine, transportation, aerospace & defense industries owing to high demand for phenolic panel for wainscoting, exterior cladding, lockers, restroom partitions, aircraft interiors, and other applications.
Construction is the fastest-growing end-use industry of phenolic panels in terms of value.
The construction end-use industry dominated the global phenolic panel market. Increased adoption of phenolic panels across elevator walls, room partitions, decorative interior & exterior, escalator claddings, wainscoting, and balcony cladding, among others, is fueling the growth of phenolic panels in the construction industry.
Interior application is the largest segment of the market in terms of value. Interior is the major application of phenolic panel where these panels are used for various purposes ranging from restroom partitions to interior cladding.Phenolic panels are used for interior applications in multiple industries, including construction, marine, and transportation.
Owing to superior fire resistance characteristics of phenolic panels, they are gaining acceptance across the globe for interior applications to avoid fire-related accidents.
Sandwich type is the fastest-growing application segment of phenolic panels in terms of value.
Sandwich type phenolic panel holds the majority of the market share owing to high demand from construction, transportation, marine, and aerospace & defense industries. Increasing implementation aluminum-based phenolic panel across various applications, including furniture, air conditioning duct panel, floor, partitions, etc. are responsible for the high growth of the sandwich segment.
Class A phenolic panel is the fastest-growing segment of the phenolic panel market in terms of value. Class A dominated the phenolic panel market in the class segment.Class A phenolic panels are heavily used for interior, exterior, and other applications owing to their superior fire resistance characteristics.
Owing to the lower Flame Spread Index (FSI), these panels are witnessing a high demand from the North America and European market.
North America is the fastest-growing phenolic panel market.
North America is projected to be the fastest-growing region in the phenolic panel industry during the forecast period.The US and Canada in the region are the two major markets that are growing at a significant pace in the region due to the presence of established construction, aerospace & defense, and marine industries.
The growth in the phenolic panel market in this region is driven mainly by its use for fire safety. This study has been validated through primaries conducted with various industry experts, globally. These primary sources have been divided into the following three categories: • By Company Type- Tier 1- 45%, Tier 2- 25%, and Tier 3- 30% • By Designation- C Level- 30%, Director Level- 25%, and Executives- 45% • By Region- North America- 30%, Europe- 40%, APAC- 10%, South America-5%, MEA-15%,
The report provides a comprehensive analysis of company profiles listed below: • Keneringspan Group (Ireland) • Wilsonart LLC (US) • Asahi Kasei Corporation (Japan) • Broadview Holding B.V. (Netherlands) • Fiberesin Industries Inc. (US) • Fundermax GmbH (Austria) • Werzalit of America, Inc. (US) • General Partitions Mfg. Corp. (US) • ASI Group (US) • Bobrick Washroom Equipment, Inc. (US)
Research Coverage This report covers the global phenolic panel market and forecasts the market size until 2025.The report includes the market segmentation - type (sandwich and plain), class (class A, class B, others), end-use industry (construction, marine, transportation, aerospace & defense, and others), application (interior, exterior, furniture, air conditioning duct panel, and others), and region (Europe, North America, APAC, South America, and MEA).
Porter’s Five Forces analysis, along with the drivers, restraints, opportunities, and challenges, are discussed in the report. The report also provides company profiles and competitive strategies adopted by the major players in the market.
Key benefits of buying the report:
The report will help market leaders/new entrants in this market in the following ways: 1. This report segments the global phenolic panel market comprehensively and provides the closest approximations of the revenues for the overall market and the sub-segments across different verticals and regions. 2. The report will help stakeholders understand the pulse of the phenolic panel market and provide them with information on key market drivers, restraints, challenges, and opportunities. 3. This report will help stakeholders to understand competitors better and gain more insights to enhance their market position. The competitive landscape section includes the competitor ecosystem, expansion, partnership, agreement, new product launch, and joint venture.
Reasons to buy the report: The report will help market leaders/new entrants in this market by providing them with the closest approximations of the revenues for the overall phenolic panel market and the sub-segments.This report will help stakeholders to understand the competitive landscape and gain more insights and position their businesses and market strategies in a better way.
The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
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