Phenolic panels are used in the interior, exterior, furniture, and various other applications of end-use industries, such as construction, marine, aerospace & defense, and transportation, to name a few. The main purpose of these phenolic panels is to offer fire-resistance and moisture-resistance properties. For instance, phenolic panels are used in the exterior cladding, partitions, cubicles, and other applications to prevent fire accidents. The global phenolic panel market size was USD 1.7 billion in 2020 and is projected to reach 2.4 billion by 2025, registering a growth of 6.5%.
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The phenolic panel market is segmented based on region into Europe, North America, APAC, MEA, and South America. Europe is the major consumer of phenolic panels owing to the high demand from the UK, Germany, and other European countries. The UK is the leading market in the region. Major applications of phenolic panels in the European market include building interior, aircraft interior, exterior cladding, furniture, and air conditioning duct panels, among others. The growth of the market is also attributed to the presence of established manufacturers and technological advancement related to the development of phenolic panel products.
Recent Developments
In April 2017, Kingspan Group added two new products to its Kooltherm K100 range; the K112 Framing Board and K107 Pitched Roof Board. These insulation boards deliver low U-values with minimal thickness.
In June 2019, Broadview Holding acquired Cincinnati-based Formica Group from Fletcher Building Ltd. This acquisition has helped Broadview Holding to increase its presence in Europe, North America, and Asia.
The key players in the global phenolic panel market are Kingspan Group (Ireland), Wilsonart LLC(US), Asahi Kasei Corporation (Japan), Fiberesin Industries Inc. (US), Broadview Holding B.V. (Netherlands), Fundermax GmbH (Austria), Bobrick Washroom Equipment, Inc. (US), Werzalit of America, Inc. (US), ASI Group (US), and General Partitions Mfg. Corp. (US). These companies are involved in adopting various inorganic and organic strategies to increase their foothold in the phenolic panel industry. The study includes an in-depth competitive analysis of these companies in the phenolic panel market, with their company profiles, recent developments, and key market strategies.
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