Phenolic Panel Market Report 2026

The phenolic panel market size has grown strongly in recent years. It will grow from $3.88 billion in 2025 to $4.23 billion in 2026 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to expansion of commercial construction activities, rising use of engineered wood products, increasing adoption in marine interiors, demand for durable HVAC duct panels, growth of prefabricated building systems.

The phenolic panel market size is expected to see strong growth in the next few years. It will grow to $5.83 billion in 2030 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to growing investments in sustainable construction materials, rising demand from transportation interiors, increasing adoption in modular construction, focus on low-maintenance building materials, expansion of infrastructure renovation projects. Major trends in the forecast period include increasing adoption of high-durability exterior panels, rising use of fire-resistant building materials, growing demand for moisture-resistant interior solutions, expansion of lightweight composite panel applications, enhanced focus on aesthetic and decorative surfaces.

The expansion of the construction industry is expected to support the growth of the phenolic panel market in the coming years. The construction industry encompasses activities related to the building, repair, renovation, and maintenance of infrastructure. Owing to their flexibility and versatility, phenolic panels are increasingly replacing traditional steel and wood designs, while also offering a longer lifespan compared to materials such as wood in construction applications. For example, in August 2024, according to the Office for National Statistics, a UK-based independent producer of official statistics, monthly construction output in June 2024 was estimated to have risen by 0.5%, driven by increases in both new work (0.9%) and repair and maintenance activities (0.1%). At the sector level, seven out of nine sectors recorded growth, with the largest contributions coming from non-housing repair and maintenance (up 3.2%) and private commercial new work (up 2.1%). As a result, the growth of the construction industry is fueling the expansion of the phenolic panel market.

The rising demand for green building practices is expected to further drive the growth of the phenolic panel market going forward. Green building refers to the design, construction, and operation of buildings in an environmentally responsible and resource-efficient way. Phenolic panels are used in green buildings to create more energy-efficient building envelopes by offering thermal resistance, which helps reduce heating and cooling requirements and lowers overall energy consumption. For instance, in February 2024, according to the US Green Building Council (USGBC), a US-based nonprofit organization that promotes sustainability in building design and construction, nearly 197,166 registered and certified Leadership in Energy and Environmental Design (LEED) projects were recorded worldwide. Consequently, the increasing emphasis on green building practices is driving the growth of the phenolic panel market.

In April 2023, INEOS Phenol, a US-based producer of phenol and acetone, acquired Mitsui Phenols Singapore Ltd for $330 million. With this acquisition, INEOS Phenol sought to strengthen its presence in the Asia-Pacific region, expand its production capacity, and enhance its portfolio of sustainable products to address the rising demand for phenolic materials across multiple industries. Mitsui Phenols Singapore Ltd is a Singapore-based chemical company specializing in the production of phenol and its derivatives.

Major companies operating in the phenolic panel market are Trespa International BV., Fundermax GmbH., Formica Group., Wilsonart International Holdings LLC., Arpa Industriale S.p.A., Abet Laminati S.p.A., Greenlam Industries Ltd., Merino Group., Stylam Industries Ltd., Century Plyboards Ltd., Fiberesin Industries Inc., Werzalit of America Inc., Panel Decor Private Limited., Bobrick Washroom Equipment Inc., General Partitions Manufacturing., Kingspan Group plc., Asahi Kasei Corporation., Alstrong Enterprises India Pvt Ltd., Alstone Industries Pvt Ltd., Eurobond Industries Pvt Ltd.

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

The phenolic panel market consists of sales of high-quality high-pressure phenolic panels used for soffits, balconies, signage, and deck flooring. 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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