Phenolic Panel Market: Overview
- Phenolic panels, also known as compact phenolic panels or phenolic boards, are composed of core made with resins and cellulose fibers to produce a unique composite building material with distinct properties and advantages. Different material are used for finishing over this compact core, which includes laminates and wood panels. Phenolic panels are generally used as interior wall panels and exterior building facades.
- Phenolic panels are an efficient solution for high-impact surfaces such as walls, lockers, countertops, restroom partitions, and cubicles. Phenolic panels are often used to manufacture furniture and other wood material to be used in damp environments such as bathrooms, toilets, and changing rooms.
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Key Drivers of Phenolic Panel Market
- According to a report published by Global Construction Perspectives and Oxford Economics in 2016, the global construction market is estimated to reach US$ 8 Trn by 2030, expected to be primarily driven by China, the U.S., and India. The report also pointed out that the U.S. construction market is estimated to grow faster than the China market over the next 15 years, and India is emerging as a new engine of global growth for the construction market, expanding almost twice as fast as China. Increase in construction activities in these regions is projected to boost the Phenolic Panel Market during the forecast period.
- Phenolic panels offer higher fire resistance than traditional wood and drywall constructed interior walls or exterior vinyl applications. Phenolic panels are a preferred choice as building material in the construction industry and it also helps improve the overall energy performance of a building as well as provides effective weather protection owing to its high pressure laminate finish. Key properties of phenolic panels such as flame resistance is a competitive advantage that it has over alternatives such as wood walls. This factor is expected to help augment Phenolic Panel Market demand in the future.
- Out of all alternatives for building materials available to architects and builders, phenolic wall panels have become increasingly popular owing to their high strength. Phenolic panels can be customized in any shape as required by the builder such as straight or angled walls or radius curved walls. Easy availability of customized phenolic panels is also likely to propel Phenolic Panel Market demand.
- Cost of phenolic panels are comparatively low compared to its alternatives such as aluminum panels, glass panels, and steel and concrete walls, which acts as a key driver of Phenolic Panel Market.
Phenolic Panel: Application Segments
- Based on application, Phenolic Panel Market are segmented into interior and exterior applications. Phenolic panels are used in many building applications. Generally, continuously laminated phenolic boards are used in roofing, cavity board, external wall board, plasterboard dry lining systems, wall insulation, and floor insulation. The superior fire performance of phenolic boards is one of the key features that separates it from alternatives.
- Composite panels consist of high density structural phenolic panels with steel facings on both sides and are typically used in a wide range of applications such as in food processing factories, cold stores, semiconductor clean rooms, and hospitals.
- Phenolic panels are used in manufacture of cabins and toilet cubicles for changing rooms, and showers. It is also used as room dividers or to isolate work areas.
Advantages of Phenolic Panels over Plastic Laminate Panels
- Phenolic panels are stronger and a moisture-resistant substitute to plastic laminates. Phenolic panels and plastic laminate panels are similar in basic composition, consisting of a thin plastic-based surface sheet laminated to a rigid substrate. Phenolic panels have a number of benefits over plastic laminate panels, such as impenetrable core and factory lamination.
- Unlike the substrate of plastic laminate panels such as plywood, particle board, or fiberboard, phenolic panels use a cellulose fiber-reinforced phenolic resin core that is monolithic and impervious to water.
- Plastic laminate is laminated to the substrate in a fabrication shop using adhesive, while phenolic resin is laminated using thermosetting resins in the presence of heat and pressure, which results in a durable bond that makes it resistant to moisture infiltration.
Asia Pacific Emerging as a Key Market of Phenolic Panel Market
- China, the U.S., and India alone account for 57% of construction activities across the globe as per a report published by Global Construction Perspectives and Oxford Economics. Governments of both China and India are aiming to fulfill the housing needs of their population. The Government of India is investing US$ 3.304 Bn to revive stalled housing projects. Also, the Ministry of Housing and Urban Affairs of India in its annual budget allocated US$ 6.618 Bn, a nearly 18.39 percent increase from the revised estimate of US$ 5.590 Bn for 2019-2020.
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Key Manufacturers Operating in Phenolic Panel Market
Key manufacturers operating in the global phenolic panel market include:
- Kingspan Group
- Accurate Plastics, Inc.
- Wilsonart LLC
- Werzalit of America, Inc.
- Asahi Kasei Corporation
- Fiberesin Industries Inc.
- Broadview Holding B.V.
- Fundermax GmbH
- Bobrick Washroom Equipment, Inc.
- ASI American Specialties, Inc.
- General Partitions Mfg. Corp.
- Trespa North America Ltd.
Global Phenolic Panel Market: Research Scope
Global Phenolic Panel Market, by End-use
Global Phenolic Panel Market, by Application
- Interior Use
- Toilet cubicles
- Counter tops
- Others (room dividers etc.)
- Exterior Use
- Wall Claddings
- Others (Insulation Panel, Air Conditioning Duct Panel etc.)
Global Phenolic Panel Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note:Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.