Global Phenolic Boards Market Size, Share, to Grow by a CAGR of
~4% During 2023– 2035.
Research Nester published a report titled “Phenolic Boards Market”: Global Demand Analysis & Opportunity Outlook 2035” which delivers detailed overview of the global phenolic boards market in terms of market segmentation by thickness, application, end-use, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global phenolic boards market is projected to grow at a CAGR of ~4% to attain a noteworthy revenue of around USD 4 Billion by the end of the forecast period, i.e., 2023-2035. The market is segmented by end-use into residential phenolic boards, commercial phenolic boards, and industrial phenolic boards. Of them, the residential phenolic boards sector is projected to grow the fastest during the forecast period owing to the growing population and the need for cost-effective, sturdy, and sustainable housing.
The global phenolic boards market is projected to grow on the back of increasing use of phenolic boards for building & construction, interior applications, insulation panels, furniture, and others. Phenolic boards are widely used in the furniture industry to produce workstations, counter-tops, and cabinetry of different physical characteristics which is expected to propel the global phenolic boards market growth.
Geographically, the global phenolic boards market is categorized into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa regions. Among them, the market in Asia Pacific is expected to exhibit a steady growth by the end of 2031 owing to multiple factors such as a growing population, rapid industrialization, and increased investment in infrastructure development.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Growing Scientific Research and Development Activities to boost the Market Growth
As per the data by the World Bank, in 2020, 2.63% of the GDP was spent on research activities.
Phenolic boards are used in the manufacture of workbenches and other furniture across the scientific research community for their ability to withstand heat, light, as well as chemical attacks. This is estimated to boost the market growth.
However, the higher costs, moderate toxicity, and the need for skilled labor are expected to operate as key restraints to the growth of the global phenolic boards market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global phenolic boards market which includes company profiling of Spigo Group, Jialifu Panel Industry (Guangzhou) Co., Ltd., Phenolam India Pvt. Ltd., Kingspan Group, Unilin Group, SEKISUI CHEMICAL CO., LTD., Fiberesin Industries, Unitech Enterprise Private Limited, Asahi Kasei Corporation, Linyi Consmos Wood Industry Co., Ltd., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global phenolic boards market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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