The domestic phenolic resin market is developing rapidly, and the domestic substitution process of electronic grade phenolic resin is accelerating.

Phenolic resin refers to a type of resin prepared through phenolic condensation polymerization reaction using phenolic and aldehyde organic compounds as raw materials under acidic or alkaline conditions. Phenolic resin appears as colorless and transparent particles or powder. It is insoluble in water and soluble in organic solvents such as acetone and alcohol. It will decompose when exposed to strong acid and corrode when exposed to strong alkali. According to different forms, phenolic resin can be divided into two categories: solid phenolic resin and liquid phenolic resin; according to different properties, it can be divided into two categories: thermosetting phenolic resin and thermoplastic phenolic resin.

Phenolic resin has the advantages of good high temperature resistance, strong adhesion, good electrical insulation properties, high flame retardancy, and good acid resistance. It has been widely used in refractory materials, insulation materials, casting materials, friction materials, and mineral wool materials. , molding compounds, wood processing adhesives and other product manufacturing scenarios, and terminal application fields include automobiles, electronics, coatings, construction, plastics, rail transit, etc. Among them, molding compounds, friction materials, and wood processing adhesives are the three major application scenarios of phenolic resin in China. In 2021, their application proportions will be 22%, 21%, and 20% respectively.

Under the current background of rapid development in the terminal application field of phenolic resin, its market demand is increasing and its scale is expanding. According to the “China Phenolic Resin Industry Market In-depth Research and Development Prospects Forecast Report 2022-2027” released by the Industrial Research Center, 2021 In 2018, my country’s phenolic resin market demand has reached 1.569 million tons, a year-on-year increase of 2.4%; the market size has reached 14.62 billion yuan, a year-on-year increase of 21.6%.

The entry threshold for the phenolic resin industry is low. There are currently a large number of domestic companies in this field. The main companies include Shengquan New Materials, Yushiju Chemicals, Taier Chemicals, Southeast Plastics, Hangmo New Materials, Laiwu Runda New Materials, Industrial materials, etc. Among them, Shengquan New Materials, Yushiju Chemicals, and Taier Chemicals are currently the three companies with the largest shares of the domestic phenolic resin market. In 2021, their market shares will be 24%, 10%, and 8% respectively, indicating a high degree of industry concentration. , the development trend is improving.

In addition to being used in the chemical industry, phenolic resin can also be used in chip manufacturing. According to different application fields, phenolic resin can be divided into two categories: electronic grade phenolic resin and industrial grade phenolic resin. Among them, electronic-grade phenolic resin is mainly used in product manufacturing scenarios such as copper-clad laminates, epoxy plastic sealants, and photoresists. At present, my country’s phenolic resin companies are still mainly concentrated in the chemical industry, and the production capacity in the field of electronic grade phenolic resin with higher technical requirements is still relatively small, and domestic demand still relies on imports.

Industrial analysts personnel said that in recent years, driven by the continued growth in market demand for electronic grade phenolic resin, local companies have increased their products In terms of R&D efforts, the local company Shengquan New Materials has now achieved mass production of electronic-grade phenolic resin for printed circuit boards and photoresists, and has successfully applied it to integrated circuits, liquid crystal displays and other fields. In addition, Dongcai Technology and other local companies are actively developing R&D projects related to electronic-grade phenolic resin. In the future, as the R&D process of domestic companies continues to accelerate, the localization process of my country’s electronic-grade phenolic resin market is expected to continue to accelerate, and the industry has huge development potential.