The phenolic panel market is evaluated at US$1.887 billion for the year 2025 growing at a CAGR of 4.56% reaching the market size of US$2.358 billion by the year 2030.
Phenolic panels have been gaining popularity as a material choice in recent years due to their ability to offer enhanced aesthetic appeal. Moreover, these panels are designed to ensure that the surface does not provide the necessary conditions for microbial growth. Furthermore, phenolic panels are significantly superior in terms of resistance to scratches, water, and other factors, thus offering relatively better durability. As a result, market demand for phenolic panels has been on an upward trajectory in recent years, with growth projections anticipated to be very promising.
Additionally, phenolic panels are considered relatively more environmentally friendly compared to their immediate substitutes, which further enhances their appeal. However, the significant availability of various substitutes may impact the market's ability to reach its full potential.
Moreover, construction spending in the United States increased by 6.37% in 2023 from 2022. This growth gives the potential of the industry. These growths in the construction industry would lead to an increased demand for overall raw materials in the sector. A similar trend has been noticed in Europe. Thus, the growing investment in the development of infrastructure is expected to continue to drive the growth of the phenolic panels market during the forecast period.
Globally, investment in the construction of commercial infrastructure has been increasing. As indicated in the figure below, the construction of offices,schools, and universities has surged in recent years in Great Britain as the focus on improving human capital and reducing unemployment continues.
Moreover, despite the threat of e-commerce, the preference of individuals to continue with in-store shopping is expected to increase the investment in the construction of malls. In United Arab Emirates' infrastructure investment comprises US$132 million for social, USD$80 million for energy projects, and USD$83 million for unspecified infrastructure projects in the country.
The demand for phenolic panels in the Middle East and Africa is projected to increase in the next couple of years. The rising construction activity in the region will be the key driver for the increasing demand for phenolic panels in Israel during the forecast period. In an attempt to adapt to the new situation, Saudi Arabia, which has been known for its abundant oil reserves, plans to shift its economic dependence on non-petroleum sectors by investing in other industries like construction and manufacturing - which eventually can be considered a step towards achieving the Saudi Arabian Vision 2030.
The demand for phenolic panels in the region will be mainly driven by the growing construction activities in the country. Increasing government initiatives toward the development of green buildings in the country are expected to drive the growth of the phenolic panels market during the forecast period. The country's investment in green buildings is currently the third biggest investment of its kind in the world, and the country is set to become the industry's global leader. Currently, multiple projects under construction are either LEED-certified or LEED-registered.
According to the Saudi Green Building Forum (SGBF), currently, there are around 30 million sq. ft. of LEED-certified space in the country. All such factors, events, and initiatives are expected to widen the growth opportunities for the market of phenolic panels in the coming years. In the United Arab Emirates, increasing government initiatives and investment towards the adoption of sustainable and green buildings are expected to drive the growth of the phenolic panels market during the forecast period.
The focus on sustainability is considered one of the biggest trends in the GCC's building sector, and this is supported by Dubai's being ranked third in the list of cities in the world with the highest number of green-certified buildings, with over 550 projects under LEED certification and the implementation of the estimated framework in Abu Dhabi vision 2030
Phenolic panels have been gaining popularity as a material choice in recent years due to their ability to offer enhanced aesthetic appeal. Moreover, these panels are designed to ensure that the surface does not provide the necessary conditions for microbial growth. Furthermore, phenolic panels are significantly superior in terms of resistance to scratches, water, and other factors, thus offering relatively better durability. As a result, market demand for phenolic panels has been on an upward trajectory in recent years, with growth projections anticipated to be very promising.
Additionally, phenolic panels are considered relatively more environmentally friendly compared to their immediate substitutes, which further enhances their appeal. However, the significant availability of various substitutes may impact the market's ability to reach its full potential.
Phenolic panel market drivers:
Rising investment in infrastructure development
Investment in the development of infrastructure is expected to increase, more specifically, in emerging and developing countries like India, China, and Vietnam, among others. For instance, India and China have been growing at above 5% per annum for the last couple of years, which is indicative of the development of infrastructure and growing urbanization.Moreover, construction spending in the United States increased by 6.37% in 2023 from 2022. This growth gives the potential of the industry. These growths in the construction industry would lead to an increased demand for overall raw materials in the sector. A similar trend has been noticed in Europe. Thus, the growing investment in the development of infrastructure is expected to continue to drive the growth of the phenolic panels market during the forecast period.
Globally, investment in the construction of commercial infrastructure has been increasing. As indicated in the figure below, the construction of offices,schools, and universities has surged in recent years in Great Britain as the focus on improving human capital and reducing unemployment continues.
Moreover, despite the threat of e-commerce, the preference of individuals to continue with in-store shopping is expected to increase the investment in the construction of malls. In United Arab Emirates' infrastructure investment comprises US$132 million for social, USD$80 million for energy projects, and USD$83 million for unspecified infrastructure projects in the country.
The phenolic panel market is segmented into five regions worldwide:
By geography, the phenolic panelmarket is segmented into North America, South America, Europe, Middle East and Africa, and Asia-Pacific.The demand for phenolic panels in the Middle East and Africa is projected to increase in the next couple of years. The rising construction activity in the region will be the key driver for the increasing demand for phenolic panels in Israel during the forecast period. In an attempt to adapt to the new situation, Saudi Arabia, which has been known for its abundant oil reserves, plans to shift its economic dependence on non-petroleum sectors by investing in other industries like construction and manufacturing - which eventually can be considered a step towards achieving the Saudi Arabian Vision 2030.
The demand for phenolic panels in the region will be mainly driven by the growing construction activities in the country. Increasing government initiatives toward the development of green buildings in the country are expected to drive the growth of the phenolic panels market during the forecast period. The country's investment in green buildings is currently the third biggest investment of its kind in the world, and the country is set to become the industry's global leader. Currently, multiple projects under construction are either LEED-certified or LEED-registered.
According to the Saudi Green Building Forum (SGBF), currently, there are around 30 million sq. ft. of LEED-certified space in the country. All such factors, events, and initiatives are expected to widen the growth opportunities for the market of phenolic panels in the coming years. In the United Arab Emirates, increasing government initiatives and investment towards the adoption of sustainable and green buildings are expected to drive the growth of the phenolic panels market during the forecast period.
The focus on sustainability is considered one of the biggest trends in the GCC's building sector, and this is supported by Dubai's being ranked third in the list of cities in the world with the highest number of green-certified buildings, with over 550 projects under LEED certification and the implementation of the estimated framework in Abu Dhabi vision 2030
Reasons for buying this report:
- Insightful Analysis: Gain detailed market insights covering major as well as emerging geographical regions, focusing on customer segments, government policies and socio-economic factors, consumer preferences, industry verticals, other sub-segments.
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Industry and Market Insights, Opportunity Assessment, Product Demand Forecasting, Market Entry Strategy, Geographical Expansion, Capital Investment Decisions, Regulatory Framework & Implications, New Product Development, Competitive IntelligenceReport Coverage:
- Historical data & forecasts from 2022 to 2030
- Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
- Competitive Positioning, Strategies, and Market Share Analysis
- Revenue Growth and Forecast Assessment of segments and regions including countries
- Company Profiling (Strategies, Products, Financial Information, and Key Developments among others)
The phenolic panel market is segmented and analyzed as below:
By Application
- Interior
- Exterior
By Installation
- Replacement
- New Installation
By End-user
- Residential
- Commercial/Industrial
By Geography
- North America
- South America
- Europe
- Middle East and Africa
- Asia-Pacific
Table of Contents
1. INTRODUCTION
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
5. PHENOLIC PANEL MARKET BY APPLICATION
6. PHENOLIC PANEL MARKET BY INSTALLATION
7. PHENOLIC PANEL MARKET BY END-USER
8. PHENOLIC PANEL MARKET BY GEOGRAPHY
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
10. COMPANY PROFILES
Companies Mentioned
- Xtratherm Limited
- Milwaukee Composites, Inc.
- Pearl Industries
- Artboard AB
- ALPHA DUCTS LLC
- American Architectural Millwork LLC
- Fiberesin Industries
- General Partition Manufacturing Company
- Wall Panel Systems, Inc.
- Architectural Panel Systems
- ECO Cladding
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 155 |
| Published | December 2024 |
| Forecast Period | 2025 - 2030 |
| Estimated Market Value ( USD | $ 1.89 Billion |
| Forecasted Market Value ( USD | $ 2.36 Billion |
| Compound Annual Growth Rate | 4.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
