In terms of product type segmentation, the Phenolic Resins market differentiates significantly between resol and novolac resins. Resol types typically dominate due to their broader application range and ease of use, whereas novolac resins are gaining traction for high-performance uses such as molding, high-temperature composites and specialty laminates. 

As application demands intensify—such as for higher heat resistance, faster curing and lighter composites—the demand for advanced novolac grades is rising. This signals a gradual shift in the market from purely volume-based to more performance-driven product mixes.