The Phenolic Resins market in Italy saw a gradual decline from 2013 to 2016, but stabilized from 2017 to 2020, indicating a slight recovery. An upswing occurred in 2021 with an 8.5% increase, followed by a reduction over the next two years. In 2023, the market stood at 149.88 Million Euros. Forecasts from 2024 to 2028 show a negative growth trend, with a projected CAGR of -1.95% and an overall decline of 9.37%. The market's volatility and fluctuating growth rates highlight its sensitivity to economic cycles.
Future trends to watch include the impact of regulatory changes, advancements in phenolic resins technology, and shifts in demand from end-use industries such as construction and automotive, impacting market performance significantly.