- The construction industry is experiencing robust growth, driven by rapid urbanization, population growth, and substantial investments. As a result, there is an increasing demand for high-performance insulation materials such as phenolic insulation boards, which offer excellent thermal insulation, moisture resistance, and structural strength
- Phenolic boards are becoming a preferred choice for insulating walls, roofs, and floors in both residential and commercial buildings. In addition, the ongoing development of smart cities and sustainable building projects further amplifies the need for advanced insulation solutions. The growth in the construction sector boosts the demand for phenolic boards and drives market growth
- Asia-Pacific dominated the phenolic board market with the largest revenue share of 41.5% in 2024, driven by rapid urbanization, expanding construction activities, and increasing demand for durable, fire-resistant, and moisture-resistant building materials
- North America is projected to grow at the fastest CAGR of 9.7% from 2025 to 2032, driven by increasing demand for sustainable construction materials, heightened safety regulations, and the widespread adoption of high-performance panels for both interior and exterior applications
- The ≤40 mm segment dominated the phenolic board market with the largest market revenue share of 58.4% in 2024, attributed to its widespread use in interior applications, furniture manufacturing, and decorative wall panel
