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Phenol formaldehyde resins or phenolic resins are synthetic polymers derived from the reaction between phenol and formaldehyde. Phenolic resins were known as the first commercial resins used in the production of molded products such as billiard balls and laboratory countertops. Phenolic resins are also used as adhesives and coasting. A wide variety of product types of phenolic resin are available in the market, such as formaldehyde-free phenolic resin, bio-phenolic resin, resole resin, cresol, and novolac resin. Furthermore, phenolic resins find major application in several industrial activities (such as wood-adhesive, friction materials, abrasives, fire retardants, hardeners, for insulation purposes, molding compounds, offshore oil drilling, laminates, etc.) owing to its properties such as high mechanical strength, adhesion, heat resistance, moisture resistance, etc. Increasing consumer awareness about the advanced properties of phenolic resin is expected to propel the growth of the market. Moreover, increasing demand for rubber and friction materials from the tire industry, which, in turn, has generated interest in durable and lightweight phenolic compounds, driving the growth of the phenolic resins market. The development of SpaceX Dragon Capsule's heat shield, a phenolic impregnated carbon ablator, is one of the most important technological innovations in the market. This enables the capsule to be reused for future missions, as the raw material allows spacecraft, crew, and cargo to safely return to Earth, despite the high temperatures. Read more @ https://sachinbhombe.blogspot.com/2021/03/asia-pacific-is-expected-to-witness.html