The Asia-Pacific Automotive Industry Is Driving The Phenolic Resin Market

 

Phenolic Resin


Phenolic resins are polymers that have high heat and electrical resistance. It is primarily used in the manufacture of moulding materials, abrasives, adhesives, laminates, friction materials, and insulators. Resol and novolac are two types of phenolic resins. Resol is manufactured under normal conditions with excess formaldehyde, whereas novolac is manufactured under acidic conditions with excess phenol. The phenolic resins market will grow significantly between 2021 and 2027 as a result of advancements in the automotive vertical and rising demand for rubber and friction materials.

 

The Asia-Pacific automotive industry is driving the Phenolic Resin Market. Among other things, phenolic resin is used in brake pads, drum linings, disc brakes, and clutch facing. The growing disposable income and industrial growth in this region can be attributed to the rising demand for automobiles. Since the last decade, the number of vehicles used in this region has steadily increased. In the tyre industry, phenolic resin is widely used. Environmentally friendly coating resins and additives for the tyre industry are also manufactured by a number of companies. For example, Allnex manufactures a wide range of technical resins for the tyre industry, including ALNOVOL and CYREZ. The product is environmentally friendly, reduces adhesion systems, and aids in the removal of odours. As a result, the increasing demand for phenolic resin in the tyre industry is contributing to the global growth of the phenolic resin market.

 

Phenolic resins are thermosetting plastics that continue to gain popularity for a wide range of applications. Rising demand for plastics with high thermal resistance, strength, and fire resistance has resulted in a significant increase in the use of phenolic resins over the years. They are increasingly being used in a wide range of applications, including forest products, moulding, abrasives, refractories, friction, and rubber processing. Until recently, the phenolic resins market was growing, but not at the same rate as the plastic materials market in general. For example, in the 1950s, the production of phenolic resins was comparable to that of PVC and polyethylene, and nearly double that of polystyrene.

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