Phenol Market has widely being utilized for manufacturing household products as and intermediate or precursor for synthesizing several chemical compounds. They are also used as a derivative in the production of nylon, epoxies, cosmetics and herbicides, among others.
Global Phenol Market was valued at USD 22.97 billion in 2021 and is expected to reach USD 30.72 billion by 2029, registering a CAGR of 3.70% during the forecast period of 2022-2029. Bisphenol A accounts for the most prominent end user segment in the respective market owing to high usage in various industries. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
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Market Definition
A Phenol or phenolic acid (C6H5OH) is a colorless, toxic crystalline solid which is commonly used as a disinfectant and antiseptic. Phenol is comparatively more soluble with water than other hydrocarbons with same molecular weight. It has various applications such as medical, electrical equipment, resin paint, textile wood, paints and coatings and cool refineries.
Competitive Landscape and Phenol Market Share Analysis
The phenol market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to phenol market.
Some of the major players operating in the phenol market are
- KUMHO P&B CHEMICALS.,INC (South Korea)
- TPCC (China)
- Shell plc (UK)
- Mitsui Chemicals, Inc. (Japan)
- LG Chem (South Korea)
- Honeywell International Inc. (US)
- Solvay (Belgium)
- Aditya Birla Group (India)
- SHENGQUAN GROUP (China)
- PTT Phenol Company Limited. (Thailand)
- Bayer AG (Germany)
- AdvanSix (US)
- Cepsa (Spain)
- INEOS (UK)
- Domo Investment Group NV. (Belgium)
- Altivia (US)
- Formosa Plastics Corporation (Taiwan)
- Prasol Chemicals Pvt. Ltd. (India)
- Sasol LTD (South Africa)
- China National Bluestar (Group) Co,Ltd. (China)
- Merck KGaA (Germany)
Global Phenol Market Scope
The phenol market is segmented on the basis of manufacturing process, application and end-users. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Manufacturing Process
- Cumene Process
- Dow Process,
- Raschig–Hooker Process
Application
- Epoxy Resins
- Polycarbonates
- Nylon
- Bakelite
- Detergents
- Phenolic Resins
- Pharmaceutical Drugs
- Herbicides
End-Users
- Bisphenol A
- Phenolic Resins
- Caprolactam
- Others
For more information on market analysis, refer to the research report summary:- https://www.databridgemarketresearch.com/reports/global-phenol-market
Phenol Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Increased Demand for Phenol’s Derivatives
The increase in demand for phenol’s derivatives for use in various applications such as production of cosmetics, herbicides, nylon and epoxies acts as one of the major factors driving the growth of phenol market.
- Commercial Viability
The commercial viability of the product accelerate the market growth. The rise in construction activities escalating the consumption of phenol in manufacturing of flooring panels, laminated beams and plywood has a positive impact on the growth of the market.
- Use of Sustainable Energy
The increase in focus on the utilization of sustainable energy in lieu of increasing prices of crude oil further influence the market growth. Epoxy resins are deployed for wind turbine power generators that further drives the market.
Additionally, the surge in investments, expansion of manufacturing industries, usage in consumer goods packaging and rapid industrialization positively affect the phenol market.
Opportunities
Furthermore, advancements in the manufacturing and the product, and use as a as a precursor in numerous chemical preparations extend profitable opportunities to the market players 2022 to 2029. Also, rise in research and development activities will further expand the market.
Restraints/Challenges faced by the Phenol Market
On the other hand, concerns regarding the harmful effects of phenol are expected to obstruct the market growth. It may cause burns and blisters if contacted directly on the skin, and may cause breathing difficulties if inhaled. Also, stringent regulations are projected to challenge the phenol market in the forecast period of 2022-2029.
This phenol market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the phenol market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
TOC of This Report @https://www.databridgemarketresearch.com/toc/?dbmr=global-phenol-market
Key Pointers Covered in Phenol Market and Forecast to 2029
- Market Size
- Market New Sales Volumes
- Market Replacement Sales Volumes
- Market By Brands
- Market Procedure Volumes
- Market Product Price Analysis
- Market Regulatory Framework and Changes
- Market Shares in Different Regions
- Recent Developments for Market Competitors
- Market Upcoming Applications
- Market Innovators Study
Phenol Market Regional Analysis/Insights
The phenol market is analyzed and market size insights and trends are provided by country, manufacturing process, application and end-users. as referenced above.
The countries covered in the phenol market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific (APAC) dominates the phenol market because of the consumption and hence, production of phenol, expanding economies of developing nations and growth in investment within the region.
Europe and North America are expected to witness a steady rate during the forecast period of 2022 to 2029 due to the due environmental regulations related to phenol usage in these regions.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
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