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Phenolic Resins

Chemical Economics Handbook

Published April 2022

Phenol-formaldehyde (PF) resins, commonly referred to as phenolic resins, are thermosetting plastics used in a variety of applications. They are noted for their high thermal resistance and strength, and also for their fireresistant properties. They are used primarily in forest products, and in molding, refractories, friction, abrasive, rubber processing, and other uses.

The following pie chart shows world consumption of phenolic resins:

Phenolic resins are usually produced in batches. This permits a wide range of formulations and molecular weights to be manufactured using the same equipment. Continuous processes have been developed that are suitable for producing a large quantity of a single grade. However, these processes decrease plant product flexibility. In addition, there are no significant economic advantages over the batch process. For these reasons, continuous processes are generally not used commercially.

In most regions, consumption closely parallels production because trade usually represents less than 10% of production in the producing countries. It is not usually cost-effective to transport most phenolic resins over long distances because of the product’s high water content. In most regions of the world, the largest markets for phenolic resins are in fibrous and granulated wood products such as oriented strandboard (OSB) and in softwood plywood. Demand for wood products is influenced by the health of the construction industry and overall state of the economy. Global PF resin consumption growth is greater in developing nations than it is in the more mature economies.

North America is the largest consuming region for PF resins, mainly because its production of OSB is higher than elsewhere in the world.

Wood adhesives will continue to have the largest market share and will drive phenolic resin consumption on a global scale. Use of PF resins for composite boards is highest in North America and South America, as producers of OSB and softwood plywood favor the use of PF over competitive adhesives such as diphenyl methylene diisocyanate– (MDI-) based urea-formaldehyde (UF) or melamine-urea-formaldehyde– (MUF-) based resins. In Europe, producers of plywood favor PF, but OSB is made primarily with MDI-based adhesives. In most parts of Asia, there has been little production of OSB, but high production of hardwood plywood, which is generally made with UF or MUF.

Having suffered heavily due to the effects of the COVID-19 pandemic, global PF resin consumption has recovered and is expected to grow at an average annual rate of 2.0–2.5% during 2021–26.

For more detailed information, see the table of contents, shown below.

S&P Global’s Chemical Economics Handbook – Phenolic Resins is the comprehensive and trusted guide for anyone seeking information on this industry. This latest report details global and regional information, including

Key Benefits

S&P Global’s Chemical Economics Handbook – Phenolic Resins has been compiled using primary interviews with key suppliers, organizations and leading representatives from the industry in combination with S&P Global’s unparalleled access to upstream and downstream market intelligence, expert insights into industry dynamics, trade and economics.

This report can help you:

  • Identify trends and driving forces influencing chemical markets
  • Forecast and plan for future demand
  • Understand the impact of competing materials
  • Identify and evaluate potential customers and competitors
  • Evaluate producers
  • Track changing prices and trade movements
  • Analyze the impact of feedstocks, regulations, and other factors on chemical profitability

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Table of Contents

Section Page Number

Executive summary 6
Summary 7
Introduction 11
Manufacturing processes 12
Resols 12
Novolacs 13
Biomass process 15
Environmental issues 16
Supply and demand by region 17
United States 17
Industry overview 17
Producing companies 17
Production 20
Consumption 20
Wood panel applications 21
Fibrous and granulated wood 21
Oriented strandboard 23
Hardboard 24
Particleboard 24
Molded wood 25
Plywood 25
Laminated veneer lumber (LVL) 27
Nonwood industrial applications 27
Proppants 27
Insulation 29
Foundry materials 30
Laminates 32
Molding compounds 33
Friction materials 35
Rubber processing 35
Abrasives 35
Protective coatings 36
Other 36
Price 37
Trade 38
Canada 38
Producing companies 38
Salient statistics 39
Consumption 40
Mexico 41
Producing companies 41
Salient statistics 41
Consumption 42
Central and South America 43
Producing companies 43
Salient statistics 45
Consumption 46
Western Europe 47
Producing companies 47
Salient statistics 51
Consumption 52
Insulation 53
Wood adhesives 54
Laminates 55
Phenolic molding compounds 55
Foundry 56
Abrasives 56
Friction materials 56
Rubber, adhesive, and other applications 56
Price 57
Central and Eastern Europe 58
Producing companies 58
Salient statistics 59
Consumption 60
Wood adhesives 61
Molding compounds 62
Insulation 62
Proppants and foundry 62
Middle East and Africa 63
Producing companies 63
Salient statistics 65
Consumption 65
Wood adhesives 65
Molding compounds 66
Insulation 66
Laminates 66
Foundry 66
Mainland China 66
Producing companies 66
Salient statistics 72
Consumption 72
Price 74
Japan 74
Producing companies 74
Salient statistics 75
Consumption 76
Price 78
Trade 78
Other Asia 78
Producing companies 78
Salient statistics 82
Oceania 85
Additional resources 86
Revisions 87
Data Workbook 88
Notice 89

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