Product Code: ETC081824 | Publication Date: Jul 2023 | Updated Date: Apr 2025 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
The Thailand Phenolic Resins Market is likely to experience consistent growth rate gains over the period 2025 to 2029. Commencing at 2.98% in 2025, growth builds up to 11.13% by 2029.
The Phenolic Resins market in Thailand is projected to grow at a stable growth rate of 4.37% by 2027, highlighting the country's increasing focus on advanced technologies within the Asia region, where China holds the dominant position, followed closely by India, Japan, Australia and South Korea, shaping overall regional demand.
The phenolic resins market in Thailand has witnessed significant growth in recent years, owing to their widespread use in various industries, including automotive, construction, electronics, and consumer goods. Phenolic resins are synthetic polymers derived from phenol and formaldehyde, and they exhibit excellent heat resistance, mechanical strength, and flame-retardant properties. In Thailand, the demand for phenolic resins has been driven by the country`s expanding manufacturing sector, which requires these resins for applications such as molding compounds, adhesives, and coatings. Additionally, the growth of the automotive and construction industries has further contributed to the market`s expansion, as phenolic resins are used in components that require high heat and fire resistance.
Several factors have driven the growth of the phenolic resins market in Thailand. Firstly, the country`s automotive industry`s growth has led to an increased demand for phenolic resins in the production of brake pads, clutch facings, and other automotive components. The excellent heat resistance and friction properties of phenolic resins make them ideal for these applications. Secondly, the construction sector`s expansion, driven by infrastructure development and real estate projects, has led to higher demand for phenolic resins in coatings, laminates, and insulation materials. Moreover, the electronics industry`s growth has further fueled the demand for phenolic resins in circuit boards and electrical components, where their excellent electrical insulation properties are valued.
While the phenolic resins market in Thailand shows promising growth, it also faces certain challenges. One of the primary hurdles is the increasing environmental concerns related to formaldehyde emissions. Formaldehyde is a key component in the synthesis of phenolic resins, and its potential health and environmental impacts have led to stricter regulations and guidelines. Manufacturers are under pressure to develop low-formaldehyde or formaldehyde-free alternatives to meet sustainability and compliance requirements. Additionally, competition from other advanced materials and resins, such as epoxy and polyurethane, poses a challenge to the phenolic resins market.
The Covid-19 pandemic had mixed impacts on the phenolic resins market in Thailand. During the early stages of the pandemic, disruptions in supply chains and reduced industrial activities affected the demand for phenolic resins from various sectors. The slowdown in automotive and construction activities led to a temporary decline in phenolic resins consumption. However, as economic activities gradually resumed, the demand for phenolic resins rebounded, particularly in the automotive and electronics sectors. The pandemic also emphasized the importance of using fire-retardant and durable materials in critical applications, further driving the demand for phenolic resins.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Thailand Phenolic Resins Market Overview |
3.1 Thailand Country Macro Economic Indicators |
3.2 Thailand Phenolic Resins Market Revenues & Volume, 2021 & 2031F |
3.3 Thailand Phenolic Resins Market - Industry Life Cycle |
3.4 Thailand Phenolic Resins Market - Porter's Five Forces |
3.5 Thailand Phenolic Resins Market Revenues & Volume Share, By Product, 2021 & 2031F |
3.6 Thailand Phenolic Resins Market Revenues & Volume Share, By Application, 2021 & 2031F |
4 Thailand Phenolic Resins Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Thailand Phenolic Resins Market Trends |
6 Thailand Phenolic Resins Market, By Types |
6.1 Thailand Phenolic Resins Market, By Product |
6.1.1 Overview and Analysis |
6.1.2 Thailand Phenolic Resins Market Revenues & Volume, By Product, 2018 - 2031F |
6.1.3 Thailand Phenolic Resins Market Revenues & Volume, By Novolac, 2018 - 2031F |
6.1.4 Thailand Phenolic Resins Market Revenues & Volume, By Resol, 2018 - 2031F |
6.1.5 Thailand Phenolic Resins Market Revenues & Volume, By Others, 2018 - 2031F |
6.2 Thailand Phenolic Resins Market, By Application |
6.2.1 Overview and Analysis |
6.2.2 Thailand Phenolic Resins Market Revenues & Volume, By Wood Adhesives, 2018 - 2031F |
6.2.3 Thailand Phenolic Resins Market Revenues & Volume, By Molding, 2018 - 2031F |
6.2.4 Thailand Phenolic Resins Market Revenues & Volume, By Insulation, 2018 - 2031F |
6.2.5 Thailand Phenolic Resins Market Revenues & Volume, By Laminates, 2018 - 2031F |
6.2.6 Thailand Phenolic Resins Market Revenues & Volume, By Paper Impregnation, 2018 - 2031F |
6.2.7 Thailand Phenolic Resins Market Revenues & Volume, By Coatings, 2018 - 2031F |
7 Thailand Phenolic Resins Market Import-Export Trade Statistics |
7.1 Thailand Phenolic Resins Market Export to Major Countries |
7.2 Thailand Phenolic Resins Market Imports from Major Countries |
8 Thailand Phenolic Resins Market Key Performance Indicators |
9 Thailand Phenolic Resins Market - Opportunity Assessment |
9.1 Thailand Phenolic Resins Market Opportunity Assessment, By Product, 2021 & 2031F |
9.2 Thailand Phenolic Resins Market Opportunity Assessment, By Application, 2021 & 2031F |
10 Thailand Phenolic Resins Market - Competitive Landscape |
10.1 Thailand Phenolic Resins Market Revenue Share, By Companies, 2024 |
10.2 Thailand Phenolic Resins Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |