PURPOSE: To provide the titled compsn. which has a high curing rate and exhibits good mold release characteristics against a conveying belt during the production of resin felt, by blending a specified arom. carboxylic acid with a phenolic resin.

CONSTITUTION: 0.3W5pts.wt. arom. carboxylic acid of the formula (wherein R is H, OH, alkoxy; Ar is phenyl, phenylalkenyl, phenylalkyl) such as salicyclic acid or p-hydroxybenzoic acid and pref. further 0.5W3pts.wt. lubricant such as stearic acid or p-hydroxybenzoic acid are blended with 100pts.wt. novolak type phenolic resin or mixture thereof with a solid resol type phenolic resin. The bulk density of the mixture is adjusted to 0.29W0.36g/cm3 to obtain the desired powdered phenolic resin compsn. for dry process resin felt.