Phenoxy Resins Market Size, Share, Opportunities, And Trends By Type (Solvent-borne Phenoxy Resins, Waterborne Phenoxy Resins), By Application (Adhesives, Coating, Composites, Plastic, Others), By End-Use Industry (Automotive, Electronics, Construction, Aerospace, Others), And By Geography - Forecasts From 2025 To 2030

The phenoxy resins market is valued at US$274.307 million in 2025 and is projected to grow at a CAGR of 3.95% over the forecast period.

Phenoxy has a low viscosity compared to other resins. Phenoxy resins are tough, ductile, amorphous, thermoplastic polymers. They have thermal stability, adhesive strength, and vapor barrier properties. The driving factor is the soaring growth of the end-use industries such as automotives. According to the International Organization of Motor Vehicle Manufacturers, global automobile production has increased 10% in 2023 compared to previous years. Further, phenoxy resins are soluble in various solvents, enhancing their versatility in different formulations.

What are the drivers of the phenoxy resins market?

• Growing demand for paints and coatings

The rising aerospace and shipping industry is also projected to positively impact the demand for paints and coatings. The aircraft are painted for protection from corrosion. In May 2024, PPG built a new paint and coatings manufacturing facility in Tennessee. It would be a $300 million investment in advanced manufacturing in North America. The facility could supply paint products for transportation, heavy-duty equipment, construction, and consumer sectors. Further, this major increase in the production of vehicles leads to the demand for paints and coatings in the automotive industry. The coatings are necessary for protecting the car's surface from heat and moisture.

• Rising usage of electronic devices

Phenoxy resins are used in the electronics industry for encapsulation and as a protective layer for electronic components. Their chemical resistance and thermal stability are necessary. This ensures the longevity of electronic devices. The increasing demand for electronic devices is attributed to multiple factors, such as the rising Internet use, digital media usage, growing cloud computing activities, and demand for artificial intelligence (AI) devices. In 2022, the U.S. imported US$629,871 million worth of electronic devices, a significant rise from the previous year, according to the United States International Trade Commission. The use of electronic devices is likely to increase worldwide, as the number of people using the internet is rising sharply.

• Adhesives and sealants demand in the construction industry

The growing retail and construction industries have driven the demand for the sealant. China has observed a drastic increase in urban construction in the last decade. According to China’s National Bureau of Statistics (NBS), the construction industry's total output was 315.91185 billion yuan in 2023. 

Moreover, India’s construction industry is also growing. Govt. initiatives such as the Pradhan Mantri Awas Yojana, which aims to build 20 million urban homes and 30 million rural houses by 2022, have massively boosted the country’s construction industry. Furthermore, as per India’s National Investment Promotion and Facilitation Agency, India’s construction industry is expected to reach $1.4 Tn by 2025.

Segment analysis of the phenoxy resins market:

• The phenoxy resins market is segmented into five regions worldwide:

By geography, the phenoxy resins market is segmented into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. The major economies like China, Japan, India, and South Korea dominate the Asia-Pacific region. Some of the fastest-growing emerging economies are from this region, such as ASEAN countries.

The Asia Pacific region is expected to see the fastest growth in the phenoxy resins market due to the increasing applications in consumer electronics and the aerospace industry. The Indian electronics industry is one of the most rapidly growing industries worldwide. In the past few years, India captured a sizeable market share in electronics manufacturing. For the country to be a global electronics producer, it is aiming to be a US$1 trillion digital economy, and the electronic market would stand at around US$180 billion by 2025-26. The government of India aimed to make electronics one of the top three export categories by 2025-26.

North America is expected to have a significant market share for phenoxy resins due to their major utilization in the automotive, electronics, construction, and aerospace. The construction industry in the United States has been increasing steadily and is a major part of the country's economy. The construction spending in the United States was 2,122,229 (million USD) in January 2024, which had been 1,932,302 in 2022.

• By application, the phenoxy resins market is segmented into adhesives, coating, composites, plastic, and others.

The adhesives segment is the major application of phenoxy resins for structural and industrial adhesives. It is used in different applications of bonding metals, plastics, and composites. Further, the notable market application is high-performance coatings due to their excellent adhesion and chemical resistance. They are used in protective coatings for metals, wood, and concrete.

The demand for the coating segment will rise with the growing demand for heavy engineering machinery and automobiles. In the composite, phenoxy resins are used as matrix materials to enhance the mechanical properties of fiber-reinforced composites. They provide improved durability and are used for different applications.

Phenoxy resins market challenges:

• The availability of several substitutes with similar properties to phenoxy resins makes it difficult for market growth. This includes lignin, tannin, furfural, cardanol, etc.

Product offerings in the phenoxy resins market:

• Phenoxy Resin by KUKDO Chemical – Phenoxy Resin by KUKDO Chemical (Kunshan) Co., Ltd. offers products with different trademarks, solution viscosity, color, and use. YP-50 has applications in magnetic tape and copolymerization mixture; YP-50EK35 can be used for paint and canned food coating. YP-50 has a non-volatile matter content (wt.%) up to 100.  Similarly, YP-55 has a non-volatile matter content (wt.%) up to 84*4.
• Phenoxy resins by Phlex Tek-  Phenoxy resins by Phlex Tek are offered in three formats: pellets, water-borne, and solvent-borne. Pellets are used for solid phenoxy resin pellets. Water-borne phenoxy resin can be used as adhesive layers between multi-layer composites such as automotive headliners, food packaging films, graphic art substrates, laminated non-wovens, and other laminated substrates. Solvent-borne phenoxy, such as NitroRez ES-P40, is a 40% NV solution of Phenoxy resin in methyl ethyl ketone (MEK) and PMA.
• PHENOXY Resins by Huntsman International LLC- PHENOXY Resins by Huntsman International LLC are distinguished by three distinctive characteristics that provide unique characteristics for a wide range of compounds and applications. This includes clear haze values typically ranging < 5, tough and tensile strength upto 9000-9500 psi, and flexible tensile elongation upto 50-100%.
• Phenoxy resins by TOMOE Engineering Co., Ltd.- TOMOE Engineering Co., Ltd. offers phenoxy resins under three types, such as further waterborne phenoxy as PKHW-34, PKHW-35, and PKHW-36. Further, Caprolactone-modified phenoxy PKCP-67, PKCP-80, and polyester modified like PKHM-30 and PKHM-30. These have applications as adhesives, coatings and primers, plastics modifiers, etc. Pendant hydroxyl groups promote wetting and bonding to polar substrates and fillers.

Key developments in the Phenoxy resins market:

The phenoxy resins market leaders are Huntsman International LLC, Merck KGaA, SEECHEM, DIC Corporation, SpecialChem, and Phlex Tek, among others. These players implement growth strategies such as product launches, mergers, acquisitions, etc., to gain a competitive advantage.

Market Segmentation:

The Phenoxy Resins market is segmented and analyzed as below:

• By  Type
  • Solvent-borne Phenoxy Resins
  • Waterborne Phenoxy Resins
• By Application
  • Adhesives
  • Coating
  • Composites
  • Plastic
  • Others
• By  End-Use Industry
  • Automotive
  • Electronics
  • Construction
  • Aerospace
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Rest of the Middle East and Africa
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Rest of Asia-Pacific

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base and Forecast Years Timeline

1.8. Key benefits for the stakeholders

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Process

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.1.1. Growing demand for paints and coatings

4.1.2. Rising usage of electronic devices

4.1.3. Adhesives and sealants demand in the construction industry

4.2. Market Restraints

4.2.1. Difficult to manufacture

4.2.2. Availability of substitutes

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. The Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. PHENOXY RESINS MARKET BY TYPE

5.1. Introduction

5.2. Solvent-borne Phenoxy Resins

5.3. Waterborne Phenoxy Resins

6. PHENOXY RESINS MARKET BY APPLICATION 

6.1. Introduction

6.2. Adhesives

6.3. Coating

6.4. Composites

6.5. Plastic

6.6. Others

7. PHENOXY RESINS MARKET BY END-USE INDUSTRY

7.1. Introduction

7.2. Automotive

7.3. Electronics

7.4. Construction 

7.5. Aerospace 

7.6. Others

8. PHENOXY RESINS MARKET BY GEOGRAPHY

8.1. Global Overview

8.2. North America

8.2.1. United States

8.2.2. Canada

8.2.3. Mexico

8.3. South America

8.3.1. Brazil

8.3.2. Argentina

8.3.3. Rest of South America

8.4. Europe

8.4.1. United Kingdom

8.4.2. Germany

8.4.3. France

8.4.4. Italy

8.4.5. Spain

8.4.6. Rest of Europe

8.5. Middle East and Africa

8.5.1. Saudi Arabia

8.5.2. United Arab Emirates

8.5.3. Rest of the Middle East and Africa

8.6. Asia-Pacific

8.6.1. China

8.6.2. India

8.6.3. Japan

8.6.4. South Korea

8.6.5. Taiwan

8.6.6. Thailand

8.6.7. Indonesia

8.6.8. Rest of Asia-Pacific

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Market Share Analysis

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Competitive Dashboard

10. COMPANY PROFILES

10.1. Huntsman International LLC

10.2. Vizag Chemical

10.3. TOMOE Engineering Co., Ltd.

10.4. Marine Chemical

10.5. DIC Corporation

10.6. Kukdo Chemical

10.7. SpecialChem

10.8. Phlex Tek

10.9. Merck KGaA

10.10. SEECHEM

Huntsman International LLC

Vizag Chemical

TOMOE Engineering Co., Ltd.

Marine Chemical

DIC Corporation

Kukdo Chemical

SpecialChem

Phlex Tek

Merck KGaA

SEECHEM