Increased applications of phenolic molding compounds in automotive and aerospace industries is expected to impact the global phenolic resins market positively, according to a new study by Grand View Research, Inc.. The use of phenolic resins in the construction industry is expected to contribute significantly to market growth. Volatility of crude oil is expected to hamper industry growth as it is a vital constituent in the production process. Environmental norms regarding formaldehyde emissions may pose a challenge to phenolic resins market growth, as considerable investments have to be made to comply with environmental emission standards.
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Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com/
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