Lignin-based Phenolic Resin Market Expands as Demand for Sustainable Specialty Chemicals Surges
The global lignin-based phenolic resin market was valued at approximately USD 580 million and is projected to grow at a compound annual growth rate (CAGR) of 8.5% from 2025 to 2032. By 2032, the market is expected to reach USD 1.2 billion, driven by increasing demand from construction, automotive, and plywood industries, along with growing environmental regulations favoring bio-based materials.
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