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In this report, LP Information covers the present scenario (with the base year being 2017) and the growth prospects of global Phenolic Resin for Friction Materials market for 2018-2023.
Phenolic resin is the principal binder used in the manufacture of modern friction materials.
Phenolic resins for the friction industry are available as liquids or as powders blended with a cross linking agent (usually hexamine). The properties of these resins may be enhanced by incorporating other polymeric or chemical modifications.
The market is driven by various end-users, such as automotive, railway, aeronautics and industrial. As the downstream consumption usually follows with developed and rapid economic growth areas, such as BRICS, the developed areas' company prefers investing to underdevelopment regions these years.
The leading companies own the advantages on better performance, more abundant product's types, better technical and impeccable after-sales service. Looking to the future years, the slow downward price trend in recent years will maintain. As competition intensifies, prices gap between different brands will go narrowing. Similarly, there will be fluctuation in gross margin.
The industry is expected to remain innovation-led, with frequent acquisitions and strategic alliances adopted as the key strategies by the players to increase their industry presence. Meanwhile, optimize product mix and further develop value-added capabilities to maximize margins. Manufacturers can take advantage of this situation by reinforcing their production units and supply-chains to avoid any delay in production turn-around-times (TAT) and supply-lead-times.
Significant and lasting barriers make entry into this market difficult. These barriers include, but are not limited to: (i) product development costs; (ii) capital requirements; (iii) intellectual property rights; (iv) regulatory requirement; and (v) Transitions' unfair methods of competition.
Despite the presence of competition problems, due to the global recovery trend is clear, investors are still optimistic about this area, the future will still have more new investment enter the field. Even so, the market is intensely competitive .The study group recommends the new entrants just having money but without technical advantage and upstream and downstream support do not to enter into this field.
Over the next five years, LPI(LP Information) projects that Phenolic Resin for Friction Materials will register a 5.0% CAGR in terms of revenue, reach US$ 1120 million by 2023, from US$ 840 million in 2017.
This report presents a comprehensive overview, market shares, and growth opportunities of Phenolic Resin for Friction Materials market by product type, application, key manufacturers and key regions.
To calculate the market size, LP Information considers value and volume generated from the sales of the following segments:
Segmentation by product type:
- Liquid Type (Phenolic Resol Resins)
- Powder Type (Phenolic Novolac Resins)
Segmentation by application:
This report also splits the market by region:
- - United States
- - Canada
- - Mexico
- - Brazil
- - China
- - Japan
- - Korea
- - Southeast Asia
- - India
- - Australia
- - Germany
- - France
- - UK
- - Italy
- - Russia
- - Spain
- Middle East & Africa
- - Egypt
- - South Africa
- - Israel
- - Turkey
- - GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:
- Sumitomo Bakelite
- Mitsui Chemicals
- DIC Corporation
- Shengquan Group
- KANGNAM CHEMICAL
- Shandong Laiwu Runda New Material
- Kuentek Cashew
- Sprea Misr
- Zhejiang Hangzhou Friction Composites
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
- To study and analyze the global Phenolic Resin for Friction Materials consumption (value & volume) by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
- To understand the structure of Phenolic Resin for Friction Materials market by identifying its various subsegments.
- Focuses on the key global Phenolic Resin for Friction Materials manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
- To analyze the Phenolic Resin for Friction Materials with respect to individual growth trends, future prospects, and their contribution to the total market.
- To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
- To project the consumption of Phenolic Resin for Friction Materials submarkets, with respect to key regions (along with their respective key countries).
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
- To strategically profile the key players and comprehensively analyze their growth strategies.