Technological advancements have fostered the development of unique heat shields with ablative phenolics for aerospace applications, leading to greater market share in recent years. The Global Phenolic Resins Market is projected to reach USD 16.0 billion by 2025, according to a new report by Grand View Research, Inc. Development of lignin and corn-based renewable feedstock have also presented new growth avenues in the industry. Increasing awareness regarding resource conservation and the implementation of stringent sustainability standards has positively impacted green materials demand, encouraging manufacturers to integrate such raw materials into their products. Technological advancements have fostered novel processing methods that conserve greater amount of resources while producing phenolics, compelling new entrants to invest high in capital funds to maintain competitive margins in the industry. Novolac emerged as the dominant product segment, occupying nearly 50% of ...