Phenolic Panel Market to Grow at a 4.56% CAGR reaching US$2.358 billion by 2030

NEW YORK, NY, UNITED STATES, January 24, 2025 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the phenolic panel market is projected to grow at a CAGR of 4.56% between 2025 and 2030 to reach US$2.358 billion by 2030.

Phenolic panels have gained popularity as a material choice in recent years due to their potential to provide improved visual appeal. These panels are intended to guarantee that the surface does not provide the conditions required for microbial development. Furthermore, phenolic panels are substantially more resistant to scratches, water, and other causes, resulting in comparatively longer endurance.

Investment in the development of infrastructure is expected to increase, more specifically, in emerging and developing countries like India, China, and Vietnam, among others. For instance, India and China have been growing at above 5% per annum for the last couple of years, which is indicative of the development of infrastructure and growing urbanization.

Moreover, construction spending in the United States increased by 6.37% in 2023 from 2022. This growth gives the potential of the industry. These growths in the construction industry would lead to an increased demand for overall raw materials in the sector. A similar trend has been noticed in Europe. Thus, the growing investment in the development of infrastructure is expected to continue to drive the growth of the phenolic panels market during the forecast period.

Access sample report or view details: https://www.knowledge-sourcing.com/report/phenolic-panel-market

Based on application, the phenolic panel market is divided into interior and exterior, with interior uses including wall and ceiling panels, furniture, and doors, while exterior applications encompass facades, cladding, roofing, and decking, each requiring specific performance properties like moisture resistance, weather resistance, and UV resistance.

By installment, the market is segmented into replacement and new installation. Replacement demand is driven by the need to replace panels that have worn out, become torn, or damaged. Meanwhile, new installation demand is driven by construction activities such as new buildings, infrastructure projects, and renovations.

Based on the end-user industry, the phenolic panel market is bifurcated into residential and commercial/industrial. Single-family homes, apartments, and condominiums are included in residential applications, while offices, retail spaces, warehouses, and other large-scale structures are covered under commercial/industrial applications. This categorization mirrors the varied needs and applications of phenolic panels in different end-user sectors.

Geographically, the demand for phenolic panels in the Middle East and Africa is projected to increase in the next couple of years. The rising construction activity in the region will be the key driver for the increasing demand for phenolic panels in Israel during the forecast period. In an attempt to adapt to the new situation, Saudi Arabia, which has been known for its abundant oil reserves, plans to shift its economic dependence on non-petroleum sectors by investing in other industries like construction and manufacturing – which eventually can be considered a step towards achieving the Saudi Arabian Vision 2030.

As a part of the report, the major players operating in the global phenolic panel market that have been covered are Xtratherm Limited, Pearl Industries, and Milwaukee Composites, Inc. among others.

The market analytics report segments the global phenolic panel market on the following basis:

• By Application

o Interior
o Exterior

• By Installation

o Replacement
o New Installation

• By End-user

o Residential
o Commercial/Industrial

• By Geography

• North America

o USA
o Canada
o Mexico

• South America

o Brazil
o Argentina
o Others

• Europe

o United Kingdom
o Germany
o France
o Italy
o Spain
o Others

• Middle East and Africa

o Saudi Arabia
o UAE
o Israel
o Others

• Asia Pacific

o China
o India
o Japan
o South Korea
o Taiwan
o Thailand
o Indonesia
o Others

• Companies Profiled

o Xtratherm Limited
o Milwaukee Composites, Inc.
o Pearl Industries
o Artboard AB
o ALPHA DUCTS LLC
o American Architectural Millwork LLC
o Fiberesin Industries
o General Partition Manufacturing Company
o Wall Panel Systems, Inc.
o Architectural Panel Systems
o ECO Cladding

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Explore More Reports:

• Polyphenols Market: https://www.knowledge-sourcing.com/report/polyphenols-market
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• Phenolic Resins Market: https://www.knowledge-sourcing.com/report/phenolic-resins-market

About Us

Knowledge Sourcing Intelligence (KSI) is a market research and intelligence provider that uses a combination of quantitative and qualitative research techniques to deliver comprehensive, in-depth insights to clients. Our approach to market research is centered around the concept of 'Knowledge Sourcing' - the process of gathering data and insights from multiple sources to create a comprehensive and well-rounded picture of the market. KSI's core services include market intelligence, competitive intelligence, customer intelligence, and product intelligence. KSI's approach to market research is designed to help clients make informed decisions, identify opportunities, and gain a better understanding of their target markets. By using a combination of primary and secondary research techniques, we provide clients with detailed insights into current market trends, customer profiles, competitor analysis, and product performance. KSI's market research and intelligence services enable clients to make informed decisions, develop strategic plans, and identify areas of opportunity.

Harsh Sharma
Knowledge Sourcing Intelligence LLP
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