Phenolic Resins Market Analysis in Spain
From 2012 to 2022, the Phenolic Resins market in Spain saw fluctuations, with notable dips in 2013 and 2017, reaching volumes of 42.468 and 43.056 million kg, respectively. The market rebounded in 2015 and again in 2020, peaking at 53.235 million kg in 2021. The last five years (2018-2022) showed an average annual growth (CAGR) of 3.78%. Over the past two years, the market saw a 6.87% increase in 2021 followed by a slight 2.62% decrease in 2022.
Future trends to watch include advancements in eco-friendly phenolic resins and increasing demand from the construction and automotive industries, which could drive market growth. Attention to regulatory changes and raw material supply fluctuations will also be crucial.
