Phenolic Resins Market Report 2026

The phenolic resins market size has grown strongly in recent years. It will grow from $14.88 billion in 2025 to $15.99 billion in 2026 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to expansion of automotive component manufacturing, growth of construction and insulation materials, rising use in electrical laminates, increasing demand for durable adhesives, availability of cost-effective phenolic formulations.

The phenolic resins market size is expected to see strong growth in the next few years. It will grow to $20.99 billion in 2030 at a compound annual growth rate (CAGR) of 7%. The growth in the forecast period can be attributed to increasing adoption in electric vehicle components, rising demand for sustainable resin alternatives, expansion of electronics manufacturing, growing investments in high-temperature resistant materials, increasing focus on circular material solutions. Major trends in the forecast period include increasing use of high-performance thermoset resins, rising adoption in automotive lightweighting applications, growing demand for flame-retardant materials, expansion of phenolic resins in electrical insulation, enhanced focus on recyclable thermoset materials.

The growing need for lightweight, eco-friendly synthetic structures in the automotive industry is driving the phenolic resin market. The automotive industry involves designing, manufacturing, distributing, and selling automobiles. Manufacturers are increasingly using lightweight materials to improve fuel efficiency. Phenolic resins are applied in the production of lightweight tires, brake pedals, and other under-the-hood automotive parts. For instance, in 2024, according to the International Energy Agency is a France-based autonomous intergovernmental organization, electric vehicle sales in 2023 rose by 3.5 million units compared to 2022, marking a 35% year-on-year growth. Therefore, the growing use of lightweight materials in the automotive industry is propelling the phenolic resin market.

Major companies in the phenolic resins market are focusing on developing advanced solutions such as bio-circular epoxy resin systems to enhance environmental sustainability and reduce carbon footprint across resin-based applications. A bio-circular epoxy resin system uses renewable or mass-balanced raw materials, safer chemical compositions, and waterborne or low-VOC formulations to deliver the performance of traditional resins with lower environmental impact. For instance, in March 2025, Westlake Epoxy, a U.S.-based resin and epoxy manufacturer, launched EpoVIVE, a new portfolio featuring bio-circular and low-emission epoxy phenolic resins and curing agents. The EpoVIVE portfolio offers a lower carbon footprint through ISCC PLUS mass-balanced renewable raw materials, energy-efficient production, waterborne low-VOC dispersions, and safer, SVHC-free, and CMR-free materials. The suite includes resin grades such as EPIKOTE 901 and 902 and solvent-free AQUAREOUS systems suitable for flooring coatings, concrete or metal coatings, and high-performance adhesives. The portfolio supports circular economy practices with formulations designed for reuse, recycling, or repurposing, enabling industries such as automotive, aerospace, coatings, composites, and construction to meet sustainability goals without sacrificing performance.

In January 2024, Shrieve Chemical Company, a US-based value-added chemicals distributor, acquired TLC Ingredients for an undisclosed amount. This acquisition aimed to expand Shrieve’s geographic footprint in the U.S. Midwest and strengthen its offerings in the growing food ingredients and specialty chemicals markets by integrating TLC’s established distribution network and product lines. TLC Ingredients is a US-based distributor of food ingredients, industrial chemicals, and phenolic resins, supplying a broad portfolio of chemicals for food, industrial, and specialty resin applications.

Major companies operating in the phenolic resins market are Hexion Inc., Sumitomo Bakelite Co., Ltd., SI Group Inc., BASF SE, DIC Corporation, Kolon Industries, Georgia‑Pacific Chemicals, Aica Kogyo Co., Ltd., Jinan Shengquan Group Co., Ltd., Shandong Laiwu Runda New Material Co., Ltd., Prefere Resins GmbH, Metadynea International GmbH, Chang Chun Group, Sbhpp (Shanghai BHH Phenolic Polymers?), Plenco LLC, UCP Chemicals AG, Lerg SA, Mitsui Chemicals, Inc., Ashland Global Holdings Inc., Changshu South‑East Plastic Co., Ltd., Allnex.

North America was the largest region in the phenolic resins market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the phenolic resins market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the phenolic resins market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The phenolic resins market consists of sales of modified resin, solid resoles and liquid resoles. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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