Global Ester-Cured Alkaline Phenolic Resins Market 2026 by Manufacturers, Regions, Type and Application, Forecast to 2032
1 Market Overview
- 1.1 Product Overview and Scope
- 1.2 Market Estimation Caveats and Base Year
- 1.3 Market Analysis by Type
- 1.3.1 Overview: Global Ester-Cured Alkaline Phenolic Resins Consumption Value by Type: 2021 Versus 2025 Versus 2032
- 1.3.2 Fast-setting Type (≤30 min)
- 1.3.3 Medium-setting Type (>30–60 min)
- 1.3.4 Slow-setting Type (>60 min)
- 1.4 Market Analysis by Curing Agent Composition
- 1.4.1 Overview: Global Ester-Cured Alkaline Phenolic Resins Consumption Value by Curing Agent Composition: 2021 Versus 2025 Versus 2032
- 1.4.2 Single Organic Ester
- 1.4.3 Composite Organic Ester
- 1.5 Market Analysis by Resin Viscosity (25°C)
- 1.5.1 Overview: Global Ester-Cured Alkaline Phenolic Resins Consumption Value by Resin Viscosity (25°C): 2021 Versus 2025 Versus 2032
- 1.5.2 Low Viscosity (≤60 mPa·s)
- 1.5.3 Medium Viscosity (60–150 mPa·s)
- 1.5.4 High Viscosity (>150 mPa·s)
- 1.6 Market Analysis by Application
- 1.6.1 Overview: Global Ester-Cured Alkaline Phenolic Resins Consumption Value by Application: 2021 Versus 2025 Versus 2032
- 1.6.2 Steel Castings
- 1.6.3 Iron Castings
- 1.6.4 Non-ferrous Metal Castings
- 1.6.5 Others
- 1.7 Global Ester-Cured Alkaline Phenolic Resins Market Size & Forecast
- 1.7.1 Global Ester-Cured Alkaline Phenolic Resins Consumption Value (2021 & 2025 & 2032)
- 1.7.2 Global Ester-Cured Alkaline Phenolic Resins Sales Quantity (2021-2032)
- 1.7.3 Global Ester-Cured Alkaline Phenolic Resins Average Price (2021-2032)
2 Manufacturers Profiles
- 2.1 ASK Chemicals
- 2.1.1 ASK Chemicals Details
- 2.1.2 ASK Chemicals Major Business
- 2.1.3 ASK Chemicals Ester-Cured Alkaline Phenolic Resins Product and Services
- 2.1.4 ASK Chemicals Ester-Cured Alkaline Phenolic Resins Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2021-2026)
- 2.1.5 ASK Chemicals Recent Developments/Updates
- 2.2 Vesuvius
- 2.2.1 Vesuvius Details
- 2.2.2 Vesuvius Major Business
- 2.2.3 Vesuvius Ester-Cured Alkaline Phenolic Resins Product and Services
- 2.2.4 Vesuvius Ester-Cured Alkaline Phenolic Resins Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2021-2026)
- 2.2.5 Vesuvius Recent Developments/Updates
- 2.3 HA Group
- 2.3.1 HA Group Details
- 2.3.2 HA Group Major Business
- 2.3.3 HA Group Ester-Cured Alkaline Phenolic Resins Product and Services
- 2.3.4 HA Group Ester-Cured Alkaline Phenolic Resins Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2021-2026)
- 2.3.5 HA Group Recent Developments/Updates
- 2.4 Kao-Quaker
- 2.4.1 Kao-Quaker Details
- 2.4.2 Kao-Quaker Major Business
- 2.4.3 Kao-Quaker Ester-Cured Alkaline Phenolic Resins Product and Services
- 2.4.4 Kao-Quaker Ester-Cured Alkaline Phenolic Resins Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2021-2026)
- 2.4.5 Kao-Quaker Recent Developments/Updates
- 2.5 ASAHI YUKIZAI
- 2.5.1 ASAHI YUKIZAI Details
- 2.5.2 ASAHI YUKIZAI Major Business
- 2.5.3 ASAHI YUKIZAI Ester-Cured Alkaline Phenolic Resins Product and Services
- 2.5.4 ASAHI YUKIZAI Ester-Cured Alkaline Phenolic Resins Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2021-2026)
- 2.5.5 ASAHI YUKIZAI Recent Developments/Updates
- 2.6 Çukurova Kimya
- 2.6.1 Çukurova Kimya Details
- 2.6.2 Çukurova Kimya Major Business
- 2.6.3 Çukurova Kimya Ester-Cured Alkaline Phenolic Resins Product and Services
- 2.6.4 Çukurova Kimya Ester-Cured Alkaline Phenolic Resins Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2021-2026)
- 2.6.5 Çukurova Kimya Recent Developments/Updates
- 2.7 Forace
- 2.7.1 Forace Details
- 2.7.2 Forace Major Business
- 2.7.3 Forace Ester-Cured Alkaline Phenolic Resins Product and Services
- 2.7.4 Forace Ester-Cured Alkaline Phenolic Resins Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2021-2026)
- 2.7.5 Forace Recent Developments/Updates
- 2.8 Shengquan Group
- 2.8.1 Shengquan Group Details
- 2.8.2 Shengquan Group Major Business
- 2.8.3 Shengquan Group Ester-Cured Alkaline Phenolic Resins Product and Services
- 2.8.4 Shengquan Group Ester-Cured Alkaline Phenolic Resins Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2021-2026)
- 2.8.5 Shengquan Group Recent Developments/Updates
- 2.9 Suzhou Xingye Materials Technology
- 2.9.1 Suzhou Xingye Materials Technology Details
- 2.9.2 Suzhou Xingye Materials Technology Major Business
- 2.9.3 Suzhou Xingye Materials Technology Ester-Cured Alkaline Phenolic Resins Product and Services
- 2.9.4 Suzhou Xingye Materials Technology Ester-Cured Alkaline Phenolic Resins Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2021-2026)
- 2.9.5 Suzhou Xingye Materials Technology Recent Developments/Updates
- 2.10 Shandong Baofeng New Materials
- 2.10.1 Shandong Baofeng New Materials Details
- 2.10.2 Shandong Baofeng New Materials Major Business
- 2.10.3 Shandong Baofeng New Materials Ester-Cured Alkaline Phenolic Resins Product and Services
- 2.10.4 Shandong Baofeng New Materials Ester-Cured Alkaline Phenolic Resins Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2021-2026)
- 2.10.5 Shandong Baofeng New Materials Recent Developments/Updates
- 2.11 Zhejiang Tianqi New Material Technology
- 2.11.1 Zhejiang Tianqi New Material Technology Details
- 2.11.2 Zhejiang Tianqi New Material Technology Major Business
- 2.11.3 Zhejiang Tianqi New Material Technology Ester-Cured Alkaline Phenolic Resins Product and Services
- 2.11.4 Zhejiang Tianqi New Material Technology Ester-Cured Alkaline Phenolic Resins Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2021-2026)
- 2.11.5 Zhejiang Tianqi New Material Technology Recent Developments/Updates
- 2.12 Sichuan Dongshu New Materials
- 2.12.1 Sichuan Dongshu New Materials Details
- 2.12.2 Sichuan Dongshu New Materials Major Business
- 2.12.3 Sichuan Dongshu New Materials Ester-Cured Alkaline Phenolic Resins Product and Services
- 2.12.4 Sichuan Dongshu New Materials Ester-Cured Alkaline Phenolic Resins Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2021-2026)
- 2.12.5 Sichuan Dongshu New Materials Recent Developments/Updates
- 2.13 Xinda Casting Technology
- 2.13.1 Xinda Casting Technology Details
- 2.13.2 Xinda Casting Technology Major Business
- 2.13.3 Xinda Casting Technology Ester-Cured Alkaline Phenolic Resins Product and Services
- 2.13.4 Xinda Casting Technology Ester-Cured Alkaline Phenolic Resins Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2021-2026)
- 2.13.5 Xinda Casting Technology Recent Developments/Updates
3 Competitive Environment: Ester-Cured Alkaline Phenolic Resins by Manufacturer
- 3.1 Global Ester-Cured Alkaline Phenolic Resins Sales Quantity by Manufacturer (2021-2026)
- 3.2 Global Ester-Cured Alkaline Phenolic Resins Revenue by Manufacturer (2021-2026)
- 3.3 Global Ester-Cured Alkaline Phenolic Resins Average Price by Manufacturer (2021-2026)
- 3.4 Market Share Analysis (2025)
- 3.4.1 Producer Shipments of Ester-Cured Alkaline Phenolic Resins by Manufacturer Revenue ($MM) and Market Share (%): 2025
- 3.4.2 Top 3 Ester-Cured Alkaline Phenolic Resins Manufacturer Market Share in 2025
- 3.4.3 Top 6 Ester-Cured Alkaline Phenolic Resins Manufacturer Market Share in 2025
- 3.5 Ester-Cured Alkaline Phenolic Resins Market: Overall Company Footprint Analysis
- 3.5.1 Ester-Cured Alkaline Phenolic Resins Market: Region Footprint
- 3.5.2 Ester-Cured Alkaline Phenolic Resins Market: Company Product Type Footprint
- 3.5.3 Ester-Cured Alkaline Phenolic Resins Market: Company Product Application Footprint
- 3.6 New Market Entrants and Barriers to Market Entry
- 3.7 Mergers, Acquisition, Agreements, and Collaborations
4 Consumption Analysis by Region
- 4.1 Global Ester-Cured Alkaline Phenolic Resins Market Size by Region
- 4.1.1 Global Ester-Cured Alkaline Phenolic Resins Sales Quantity by Region (2021-2032)
- 4.1.2 Global Ester-Cured Alkaline Phenolic Resins Consumption Value by Region (2021-2032)
- 4.1.3 Global Ester-Cured Alkaline Phenolic Resins Average Price by Region (2021-2032)
- 4.2 North America Ester-Cured Alkaline Phenolic Resins Consumption Value (2021-2032)
- 4.3 Europe Ester-Cured Alkaline Phenolic Resins Consumption Value (2021-2032)
- 4.4 Asia-Pacific Ester-Cured Alkaline Phenolic Resins Consumption Value (2021-2032)
- 4.5 South America Ester-Cured Alkaline Phenolic Resins Consumption Value (2021-2032)
- 4.6 Middle East & Africa Ester-Cured Alkaline Phenolic Resins Consumption Value (2021-2032)
5 Market Segment by Type
- 5.1 Global Ester-Cured Alkaline Phenolic Resins Sales Quantity by Type (2021-2032)
- 5.2 Global Ester-Cured Alkaline Phenolic Resins Consumption Value by Type (2021-2032)
- 5.3 Global Ester-Cured Alkaline Phenolic Resins Average Price by Type (2021-2032)
6 Market Segment by Application
- 6.1 Global Ester-Cured Alkaline Phenolic Resins Sales Quantity by Application (2021-2032)
- 6.2 Global Ester-Cured Alkaline Phenolic Resins Consumption Value by Application (2021-2032)
- 6.3 Global Ester-Cured Alkaline Phenolic Resins Average Price by Application (2021-2032)
7 North America
- 7.1 North America Ester-Cured Alkaline Phenolic Resins Sales Quantity by Type (2021-2032)
- 7.2 North America Ester-Cured Alkaline Phenolic Resins Sales Quantity by Application (2021-2032)
- 7.3 North America Ester-Cured Alkaline Phenolic Resins Market Size by Country
- 7.3.1 North America Ester-Cured Alkaline Phenolic Resins Sales Quantity by Country (2021-2032)
- 7.3.2 North America Ester-Cured Alkaline Phenolic Resins Consumption Value by Country (2021-2032)
- 7.3.3 United States Market Size and Forecast (2021-2032)
- 7.3.4 Canada Market Size and Forecast (2021-2032)
- 7.3.5 Mexico Market Size and Forecast (2021-2032)
8 Europe
- 8.1 Europe Ester-Cured Alkaline Phenolic Resins Sales Quantity by Type (2021-2032)
- 8.2 Europe Ester-Cured Alkaline Phenolic Resins Sales Quantity by Application (2021-2032)
- 8.3 Europe Ester-Cured Alkaline Phenolic Resins Market Size by Country
- 8.3.1 Europe Ester-Cured Alkaline Phenolic Resins Sales Quantity by Country (2021-2032)
- 8.3.2 Europe Ester-Cured Alkaline Phenolic Resins Consumption Value by Country (2021-2032)
- 8.3.3 Germany Market Size and Forecast (2021-2032)
- 8.3.4 France Market Size and Forecast (2021-2032)
- 8.3.5 United Kingdom Market Size and Forecast (2021-2032)
- 8.3.6 Russia Market Size and Forecast (2021-2032)
- 8.3.7 Italy Market Size and Forecast (2021-2032)
9 Asia-Pacific
- 9.1 Asia-Pacific Ester-Cured Alkaline Phenolic Resins Sales Quantity by Type (2021-2032)
- 9.2 Asia-Pacific Ester-Cured Alkaline Phenolic Resins Sales Quantity by Application (2021-2032)
- 9.3 Asia-Pacific Ester-Cured Alkaline Phenolic Resins Market Size by Region
- 9.3.1 Asia-Pacific Ester-Cured Alkaline Phenolic Resins Sales Quantity by Region (2021-2032)
- 9.3.2 Asia-Pacific Ester-Cured Alkaline Phenolic Resins Consumption Value by Region (2021-2032)
- 9.3.3 China Market Size and Forecast (2021-2032)
- 9.3.4 Japan Market Size and Forecast (2021-2032)
- 9.3.5 South Korea Market Size and Forecast (2021-2032)
- 9.3.6 India Market Size and Forecast (2021-2032)
- 9.3.7 Southeast Asia Market Size and Forecast (2021-2032)
- 9.3.8 Australia Market Size and Forecast (2021-2032)
10 South America
- 10.1 South America Ester-Cured Alkaline Phenolic Resins Sales Quantity by Type (2021-2032)
- 10.2 South America Ester-Cured Alkaline Phenolic Resins Sales Quantity by Application (2021-2032)
- 10.3 South America Ester-Cured Alkaline Phenolic Resins Market Size by Country
- 10.3.1 South America Ester-Cured Alkaline Phenolic Resins Sales Quantity by Country (2021-2032)
- 10.3.2 South America Ester-Cured Alkaline Phenolic Resins Consumption Value by Country (2021-2032)
- 10.3.3 Brazil Market Size and Forecast (2021-2032)
- 10.3.4 Argentina Market Size and Forecast (2021-2032)
11 Middle East & Africa
- 11.1 Middle East & Africa Ester-Cured Alkaline Phenolic Resins Sales Quantity by Type (2021-2032)
- 11.2 Middle East & Africa Ester-Cured Alkaline Phenolic Resins Sales Quantity by Application (2021-2032)
- 11.3 Middle East & Africa Ester-Cured Alkaline Phenolic Resins Market Size by Country
- 11.3.1 Middle East & Africa Ester-Cured Alkaline Phenolic Resins Sales Quantity by Country (2021-2032)
- 11.3.2 Middle East & Africa Ester-Cured Alkaline Phenolic Resins Consumption Value by Country (2021-2032)
- 11.3.3 Turkey Market Size and Forecast (2021-2032)
- 11.3.4 Egypt Market Size and Forecast (2021-2032)
- 11.3.5 Saudi Arabia Market Size and Forecast (2021-2032)
- 11.3.6 South Africa Market Size and Forecast (2021-2032)
12 Market Dynamics
- 12.1 Ester-Cured Alkaline Phenolic Resins Market Drivers
- 12.2 Ester-Cured Alkaline Phenolic Resins Market Restraints
- 12.3 Ester-Cured Alkaline Phenolic Resins Trends Analysis
- 12.4 Porters Five Forces Analysis
- 12.4.1 Threat of New Entrants
- 12.4.2 Bargaining Power of Suppliers
- 12.4.3 Bargaining Power of Buyers
- 12.4.4 Threat of Substitutes
- 12.4.5 Competitive Rivalry
13 Raw Material and Industry Chain
- 13.1 Raw Material of Ester-Cured Alkaline Phenolic Resins and Key Manufacturers
- 13.2 Manufacturing Costs Percentage of Ester-Cured Alkaline Phenolic Resins
- 13.3 Ester-Cured Alkaline Phenolic Resins Production Process
- 13.4 Industry Value Chain Analysis
14 Shipments by Distribution Channel
- 14.1 Sales Channel
- 14.1.1 Direct to End-User
- 14.1.2 Distributors
- 14.2 Ester-Cured Alkaline Phenolic Resins Typical Distributors
- 14.3 Ester-Cured Alkaline Phenolic Resins Typical Customers
15 Research Findings and Conclusion
16 Appendix
- 16.1 Methodology
- 16.2 Research Process and Data Source
According to our (Global Info Research) latest study, the global Ester-Cured Alkaline Phenolic Resins market size was valued at US$ 149 million in 2025 and is forecast to a readjusted size of US$ 203 million by 2032 with a CAGR of 4.5% during review period.
Ester-cured alkaline phenolic resin is a type of binder produced through the polycondensation of phenol and formaldehyde under strongly alkaline conditions, utilizing an organic ester as the curing agent. Its advantages lie in the absence of harmful elements such as nitrogen, sulfur, and phosphorus; it effectively prevents defects like hot tears and burrs, thereby enhancing casting quality.
The upstream segment of the industry chain primarily comprises raw materials—such as phenol, formaldehyde, potassium or sodium hydroxide, process water, and resin modifiers—along with the polyol esters, lactones, and blended organic esters used to produce the accompanying curing agents. Phenol and formaldehyde undergo polycondensation in an alkaline environment to form water-soluble phenolic resin; the type and dosage of the alkali influence the resin's stability, viscosity, and curing performance, while the structure and hydrolysis rate of the organic ester determine the working time and demolding speed. Midstream enterprises handle resin synthesis, curing agent formulation, performance matching, quality testing, and packaging/supply. Downstream applications primarily involve steel, iron, and non-ferrous metal casting enterprises using the resin for sand mold and core manufacturing; end-use sectors span energy equipment, construction machinery, shipbuilding and offshore engineering, rail transit, automotive manufacturing, and general machinery.
In 2025, global sales volume is projected to reach approximately 98,000 metric tons, with a comprehensive average price of around $1,480 per metric ton and industry gross margins ranging from 15% to 30%.
Market growth for ester-cured alkaline phenolic resins is primarily driven by the demand—stemming from sectors such as large steel castings, energy equipment, construction machinery, and marine castings—for binders that offer low smoke, low odor, and reduced nitrogen/sulfur-related defects. Compared to traditional self-hardening systems like furan resins, this product offers advantages in casting surface quality, high-temperature performance, and the working environment; however, its higher viscosity, slower early-strength development, and sensitivity to factors such as sand temperature, reclaimed sand quality, and resin-to-curing agent ratios have limited its widespread adoption in the high-speed production of small castings. Future industry development will focus on formulations featuring low viscosity, low free-formaldehyde content, and high strength, alongside compatible curing agent systems suitable for high proportions of reclaimed sand and varying ambient temperatures. Overall, while this product is unlikely to fully replace other foundry binders, it retains stable growth potential in the market for large, thick-walled, and high-quality castings.
Report Scope
This report is a detailed and comprehensive analysis for global Ester-Cured Alkaline Phenolic Resins market. Both quantitative and qualitative analyses are presented by manufacturers, by region & country, by Type and by Application. As the market is constantly changing, this report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2025, are provided.
Key Features:
Global Ester-Cured Alkaline Phenolic Resins market size and forecasts, in consumption value ($ Million), sales quantity (Tons), and average selling prices (US$/Ton), 2021-2032
Global Ester-Cured Alkaline Phenolic Resins market size and forecasts by region and country, in consumption value ($ Million), sales quantity (Tons), and average selling prices (US$/Ton), 2021-2032
Global Ester-Cured Alkaline Phenolic Resins market size and forecasts, by Type and by Application, in consumption value ($ Million), sales quantity (Tons), and average selling prices (US$/Ton), 2021-2032
Global Ester-Cured Alkaline Phenolic Resins market shares of main players, shipments in revenue ($ Million), sales quantity (Tons), and ASP (US$/Ton), 2021-2026
The Primary Objectives in This Report Are:
To determine the size of the total market opportunity of global and key countries
To assess the growth potential for Ester-Cured Alkaline Phenolic Resins
To forecast future growth in each product and end-use market
To assess competitive factors affecting the marketplace
This report profiles key players in the global Ester-Cured Alkaline Phenolic Resins market based on the following parameters - company overview, sales quantity, revenue, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include ASK Chemicals, Vesuvius, HA Group, Kao-Quaker, ASAHI YUKIZAI, Çukurova Kimya, Forace, Shengquan Group, Suzhou Xingye Materials Technology, Shandong Baofeng New Materials, etc.
This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.
Ester-Cured Alkaline Phenolic Resins market is split by Type and by Application. For the period 2021-2032, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.
Market Segmentation
Market segment by Type
Fast-setting Type (≤30 min)
Medium-setting Type (>30–60 min)
Slow-setting Type (>60 min)
Market segment by Curing Agent Composition
Single Organic Ester
Composite Organic Ester
Market segment by Resin Viscosity (25°C)
Low Viscosity (≤60 mPa·s)
Medium Viscosity (60–150 mPa·s)
High Viscosity (>150 mPa·s)
Market segment by Application
Steel Castings
Iron Castings
Non-ferrous Metal Castings
Others
Major players covered
ASK Chemicals
Vesuvius
HA Group
Kao-Quaker
ASAHI YUKIZAI
Çukurova Kimya
Forace
Shengquan Group
Suzhou Xingye Materials Technology
Shandong Baofeng New Materials
Zhejiang Tianqi New Material Technology
Sichuan Dongshu New Materials
Xinda Casting Technology
Market segment by region, regional analysis covers
North America (United States, Canada, and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
Chapter Outline
Chapter 1, to describe Ester-Cured Alkaline Phenolic Resins product scope, market overview, market estimation caveats and base year.
Chapter 2, to profile the top manufacturers of Ester-Cured Alkaline Phenolic Resins, with price, sales quantity, revenue, and global market share of Ester-Cured Alkaline Phenolic Resins from 2021 to 2026.
Chapter 3, the Ester-Cured Alkaline Phenolic Resins competitive situation, sales quantity, revenue, and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the Ester-Cured Alkaline Phenolic Resins breakdown data are shown at the regional level, to show the sales quantity, consumption value, and growth by regions, from 2021 to 2032.
Chapter 5 and 6, to segment the sales by Type and by Application, with sales market share and growth rate by Type, by Application, from 2021 to 2032.
Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value, and market share for key countries in the world, from 2021 to 2026.and Ester-Cured Alkaline Phenolic Resins market forecast, by regions, by Type, and by Application, with sales and revenue, from 2027 to 2032.
Chapter 12, market dynamics, drivers, restraints, trends, and Porters Five Forces analysis.
Chapter 13, the key raw materials and key suppliers, and industry chain of Ester-Cured Alkaline Phenolic Resins.
Chapter 14 and 15, to describe Ester-Cured Alkaline Phenolic Resins sales channel, distributors, customers, research findings and conclusion.