The Global Phenoxy Resins Market is estimated to be valued at US$ 1.71 Bn in 2024 and is expected to exhibit a CAGR of 7.0% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Phenoxy Resins are VeriChip Corporation (a subsidiary of PositiveID Corporation), Biohax International AB, Dangerous Things LLC, Three Square Market, Kaspersky Lab, McAfee Corp., Symantec Corporation, ARM Holdings plc (a subsidiary of SoftBank Group Corp.), NXP Semiconductors N.V., Texas Instruments Inc., STMicroelectronics N.V., BioTeq Limited, Chip In S.A., Tyco International Ltd. (a subsidiary of Johnson Controls International plc), Xerox Corporation. Phenoxy resins are increasingly being used in applications such as electrical laminates, printed circuit boards, molding compounds and wood coatings due to their unique flexibility and heat resistance properties.

The growing demand for paints and coatings from industries such as construction, automotive and infrastructure is also driving the phenoxy resins market. Rising disposable incomes and improving standards of living in developing countries are fueling residential and commercial construction activities thereby augmenting the demand for various decorative and protective coatings. Phenoxy resins are commonly added to coatings formulation to enhance their performance attributes.

Globally, Asia Pacific dominated the Phenoxy Resins Market Trends in 2021. Growing infrastructural investments and industrial activities in China, India and other South Asian countries have been boosting the coatings and composite demand which in turn is driving the phenoxy resins consumption. Substantial investments in end-use industries and rapid urbanization are expected to further propel the regional market over the forecast period.

Market drivers

Growing construction industry is one of the key drivers of phenoxy resins market. Phenoxy resins find widespread application as binders and additives in paints, coatings, adhesives, sealants and other construction products. Rapid urbanization and increasing investments in infrastructure development across developing nations are fueling residential and non-residential construction activities worldwide. This is positively impacting the demand for construction materials such as decorative and protective coatings where phenoxy resins are mainly utilized.

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