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Resoform Market Segmentation by Type (Self-Erecting, Flat-top, and others), By End User (Building and Construction, Chemicals, Automotive, Paints & Coatings, Textile, and Industrial), and Region - Industry Forecast of 2022 to 2027

Published: January, 2022
ID: 12320
Pages: 175

Resoform Market Value & Growth Rate 2022-2027:

Resoform Market size was valued at US$ XX billion in 2022 and is anticipated to grow at US$ XX billion by 2027 and increase at a CAGR of XX% between 2022 and 2027. 

Resoform Market Scenario:

Resorcinol Pekala was the first to synthesis formaldehyde, also known as resoform, in 1989. R.F. resin, Resorcinol formaldehyde resin, and Resorcinol homopolymer are some of the other names for it. Resoform has a dark brown solid pastilles hue and a distinctive odor. It's also hygroscopic. Thus it's used for a variety of moisture-absorbing applications. Heat resistance, electrical insulation, chemical resistance, and dimensional stability are all chemical qualities. Resoform produces tires, belts, and glued timber structures since it cures in neutral conditions and at room temperature. In addition, wood veneers, plywood, and rubber-textile laminates all employ Resoform as an adhesive.

The automobile and construction sectors are resoform's primary targets. The chemical species resorcinol is responsible for the cold-setting properties of these adhesives. In addition, other derivatives of resoform are added to phenolureaformaldehyde and modified as resin adhesives for the wood products industry.

Resoform Market Drivers:

The increasing usage of adhesives by the automotive industry is the primary factor that boosts the global resoform market growth in the upcoming years. Although resoform is primarily used to synthesize adhesives, the automotive industry is one of the most significant users of adhesive for a variety of purposes, including Heat exchanger tubes need to be sealed, Interior dashboard and trim are bonded together, Driveshaft and chassis structural bonding, Bolts, pins, and bearings for thread locking and holding, Electronics and LEDs are potted and sealed, and Sensors and other components are bonded together. In addition, there has been a change in prominence regarding environmentally friendly and high-performance resin adhesives from the past few years. Adhesives are critical components in the production of wood-based composites, including plywood and fiberwood, among others.

Several synthetic adhesives have little water resistance and are thus highly hazardous to human health and the environment. As the resoform industry becomes more competitive, new market players are expected to emerge in the following years. In addition, rapid growth and development in the automotive sector are likely to boost demand for resoform in the coming years, despite a slowdown due to a drop in order. However, the automotive industry is expected to perk up and grow in the following years, boosting demand for resoform.

Because of its use as an adhesive, the growing rubber and plastic sector will likely expand the resoform market. Furthermore, the paints and coatings market is predicted to develop due to a growth in global infrastructure and construction activities and resoform to manufacture binder in paints and coatings. As a result, these factors tend to fuel the global resoform market revenue during the forecast period.

Resoform Market Restraints:

  • Resoform has a wide range of applications in the automotive, wood, paints, and coatings industries. Moreover, the massive amount of raw materials has had a significant impact on the resoform business. Producing natural materials such as resorcinol at a cost-efficient and economical rate is difficult for producers, which is predicted to impact the resoform market.

  • Resorcinol is a costly chemical, and it is only commercially produced in a few places throughout the world. Therefore, the fact that it is expensive has a significant impact on the resoform market.

Recent Developments in the Resoform Market:

Prefere 4546, a new melamine-urea adhesive system for glulam, I-beams, and finger-jointing from Dynea, is being praised as the most adaptable MUF system ever, thanks to its ease of customization for maximum performance in the customer's production line.

The primary companies, Borden Chemical, Inc., Resolution Performance Products LLC (RPP), and Resolution Specialty Materials LLC (RSM) have announced plans to unite to establish the world's largest producer of thermosetting resins. Affiliates of the private investment group Apollo Management, L.P. own all three enterprises. Hexion Specialty Chemicals, Inc. will be the new company's name. Bakelite AG, which Borden bought earlier this month, is expected to be included in Hexion.

Resoform Market Segmentation:

By Type

  • Self-Erecting
  • Flat-top
  • others

Based on type, self-erecting and flat-top are the two kinds of global resoform market. Both of these types are anticipated to hold a significant global resoform market share in the upcoming years. Mostly Resoform has a dark brown solid pastilles hue and a distinctive odor. It's also hygroscopic. Thus it's used for a variety of moisture-absorbing applications. Heat resistance, electrical insulation, chemical resistance, and dimensional stability are all chemical qualities. Resoform produces tires, belts, and glued timber structures since it cures in neutral conditions and at room temperature. In addition, wood veneers, plywood, and rubber-textile laminates all employ Resoform as an adhesive. Therefore, owing to these factors, the global resoform market is anticipated to have significant growth in the next six years.

By End User:

  • Building and Construction
  • Chemicals
  • Automotive
  • Paints & Coatings
  • Textile
  • Industrial

Based on end-user, the chemicals industry is estimated to propel the global resoform market growth during 2022 - 2027. Resorcinol is a benzene diol 1, 3-isomer (or meta-isomer) having the formula C6H4 (OH) 2. Acne, seborrheic dermatitis, eczema, psoriasis, corns, calluses, and warts are among the skin problems and infections for which it is used as an antiseptic and disinfectant in topical medicinal preparations. On the other hand, the automotive industry is expected to have a significant CAGR in the global resoform market in terms of revenue during 2022 - 2027. Resoform produces tires, belts, and glued timber structures since it cures in neutral conditions and at room temperature. In addition, wood veneers, plywood, and rubber-textile laminates all employ Resoform as an adhesive. Therefore, owing to these factors, the global resoform market tends to have significant growth. 

Resoform Market Regional Analysis: 

The Global Resoform Market Report includes the segmentation of Regions:

  • Asia Pacific dominates the global resoform market during 2022 - 2027. This is because automotive production hubs in the Asia Pacific, such as China, Japan, and India, are likely to produce steady demand for resoform in the future years.
  • Because of increased demand from the paints and coatings industry, Latin American countries are predicted to grow consistently and are portrayed as emerging resoform markets.
  • Due to demand from the GCC countries, Turkey, and the sub-Saharan areas of the Middle East and Africa, the resoform market is predicted to increase steadily.

Impact of COVID-19 on Resoform Market:

The chemical industry is feeling the effects of the COVID-19 pandemic. In light of the self-quarantined workforce, the growing inability in production and manufacturing processes has severely disrupted the supply chain across the sector. In addition, the pandemic's restrictions are hindering the manufacture of essentials like life-saving medications. The chemical and materials industry's growth has slowed as a result of the financial crisis' severe problems, such as operating losses and layoffs. However, the rapidly increasing demand for equipment in the healthcare business is now on the rise. In addition, disinfectant chemicals are also in high order since they aid in the fight against the virus. Chemical firms are finding it difficult to operate in the current environment. Some businesses have temporarily ceased operations, but the majority are still trying to stay afloat. Because of the rapid increase in demand for disinfection chemicals, many chemical companies intend to enhance capacity and supply across the global market. In addition, protective clothing makers are seeing an increase in demand for protective materials to fulfill the needs of doctors, cops, laborers, and patients, among others. The global resoform market has also experienced a significant loss during the corona pandemic due to the labor shortage, and industries shut down in various areas.

Resoform Market Key Players:

The companies covered in the report include:

  1. AdCo

  2. Dynea

  3. INDSPEC Chemical Corporation

  4. Singh Plasticisers & Resins

  5. Borden Chemicals

  6. IPIRTI

  7. Sumitomo Chemical

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Scope of the report                 

                1.3 Study Assumptions                 

                1.4 Base Currency, Base Year and Forecast Periods                           

2. Research Methodology                                           

                2.1 Analysis Design                         

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Data Modelling     

                                2.2.4 Expert Validation  

                2.3 Study Timeline                          

3. Report Overview                                        

                3.1 Executive Summary                

                3.2 Key Inferencees                       

4. Market Dynamics                                       

                4.1 Impact Analysis                        

                                4.1.1 Drivers      

                                4.1.2 Restaints 

                                4.1.3 Opportunities        

                4.2 Regulatory Environment                       

                4.3 Technology Timeline & Recent Trends                            

5. Competitor Benchmarking Analysis                                    

                5.1 Key Player Benchmarking                     

                                5.1.1 Market share analysis         

                                5.1.2 Products/Service 

                                5.1.3 Regional Presence

                5.2 Mergers & Acquistion Landscape                      

                5.3 Joint Ventures & Collaborations                        

6. Market Segmentation                                              

                6.1 Resoform Market, By Type                  

                                6.1.1 Self-Erecting          

                                6.1.2 Flat-top    

                                6.1.3 others       

                                6.1.4 Market Size Estimations & Forecasts (2022 - 2027)   

                                6.1.5 Y-o-Y Growth Rate Analysis              

                                6.1.6 Market Attractiveness Index           

                6.2 Resoform Market, By End User                          

                                6.2.1 Building and Construction

                                6.2.2 Chemicals

                                6.2.3 Automotive            

                                6.2.4 Paints & Coatings 

                                6.2.5 Textile      

                                6.2.6 Industrial 

                                6.2.7 Market Size Estimations & Forecasts (2022 - 2027)   

                                6.2.8 Y-o-Y Growth Rate Analysis              

                                6.2.9 Market Attractiveness Index           

7. Geographical Landscape                                         

                7.1 Global Resoform Market, by Region                

                7.2 North America - Market Analysis (2022 - 2027)                            

                                7.2.1 By Country              

                                                7.2.1.1 USA

                                                7.2.1.2 Canada

                                7.2.2 By Type    

                                7.2.3 By End User            

                7.3 Europe                         

                                7.3.1 By Country              

                                                7.3.1.1 UK

                                                7.3.1.2 France

                                                7.3.1.3 Germany

                                                7.3.1.4 Spain

                                                7.3.1.5 Italy

                                                7.3.1.6 Rest of Europe

                                7.3.2 By Type    

                                7.3.3 By End User            

                7.4 Asia Pacific                  

                                7.4.1 By Country              

                                                7.4.1.1 China

                                                7.4.1.2 India

                                                7.4.1.3 Japan

                                                7.4.1.4 South Korea

                                                7.4.1.5 South East Asia

                                                7.4.1.6 Australia & NZ

                                                7.4.1.7 Rest of Asia-Pacific

                                7.4.2 By Type    

                                7.4.3 By End User            

                7.5 Latin America                            

                                7.5.1 By Country              

                                                7.5.1.1 Brazil

                                                7.5.1.2 Argentina

                                                7.5.1.3 Mexico

                                                7.5.1.4 Rest of Latin America

                                7.5.2 By Type    

                                7.5.3 By End User            

                7.6 Middle East and Africa                           

                                7.6.1 By Country              

                                                7.6.1.1 Middle East

                                                7.6.1.2 Africa

                                7.6.2 By Type    

                                7.6.3 By End User            

8. Key Player Analysis                                    

                8.1 AdCo                             

                                8.1.1 Business Description           

                                8.1.2 Products/Service 

                                8.1.3 Financials 

                                8.1.4 SWOT Analysis      

                                8.1.5 Recent Developments       

                                8.1.6 Analyst Overview 

                8.2 Dynea                           

                8.3 INDSPEC Chemical Corporation                          

                8.4 Singh Plasticisers & Resins                   

                8.5 Borden Chemicals                    

                8.6 IPIRTI                            

                8.7 Sumitomo Chemical                

9. Market Outlook & Investment Opportunities                                 

Appendix                                           

                List of Tables                     

                List of Figures                   

  1. Global Resoform Market By Region, From 2022 - 2027 ( USD Billion )

  2. Global Resoform Market By Type, From 2022 - 2027 ( USD Billion )

  3. Global Self-Erecting Market By Region, From 2022 - 2027 ( USD Billion )

  4. Global Flat-top Market By Region, From 2022 - 2027 ( USD Billion )

  5. Global others Market By Region, From 2022 - 2027 ( USD Billion )

  6. Global Resoform Market By Application, From 2022 - 2027 ( USD Billion )

  7. Global Building and Construction Market By Region, From 2022 - 2027 ( USD Billion )

  8. Global Chemicals Market By Region, From 2022 - 2027 ( USD Billion )

  9. Global Automotive Market By Region, From 2022 - 2027 ( USD Billion )

  10. Global Paints & Coatings Market By Region, From 2022 - 2027 ( USD Billion )

  11. Global Textile Market By Region, From 2022 - 2027 ( USD Billion )

  12. Global Industrial Market By Region, From 2022 - 2027 ( USD Billion )

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