Press release
APAC to Lead Resorcinol Market through 2025 | TechSci Research
Growth of rubber products and wooden adhesives application in automotive and construction industry to drive global resorcinol market during forecast period.According to TechSci Research report, “Global Resorcinol Market By End-User Industry, By Manufacturing Process, By Application, By Region, Competition, Forecast & Opportunities, 2025”, the global resorcinol market is expected to grow steadily over the next five years and surpass $ 1 billion by 2025. Growing automotive industry coupled with increasing usage of wood in the construction of residential and commercial complexes across the globe are the major factors that are projected to contribute to the market growth over the next five years. Rapid expansion of automotive sector globally is driving the need for various rubber-based products, including tires, belts and rubber-coated fabrics, which is providing a boost to the market. Furthermore, rising usage of the compound during the production of non-halogenated flame-retardants and various agricultural chemicals is further aiding the growth of global resorcinol market across the globe.
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"Global Resorcinol Market"
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Global resorcinol market can be segmented based on end-user industry, manufacturing process, application, and region. Considering the end-user industry, the market is fragmented into building & construction, healthcare, automotive, electrical & electronics, dyes, explosives and others. The automotive sector is anticipated to register high growth during the forecast period. This growth can be attributed to its use as an essential component in automobile tire manufacturing, along with synthetic rubber latex and formaldehyde in manufacturing tires for trucks, off-road equipment and other fiber reinforced mechanical materials including conveyor belts among others. Major players operating in the global resorcinol market include Sumitomo Chemicals, Aldon Corporation, Napp Technologies, Zhejiang Hong sheng Chemical Co Ltd, Tokyo Chemical Industry Co. Ltd, Lanxess AG, Atul Ltd and others.
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“Asia-Pacific is forecast to dominate the global resorcinol market over the next five years on the account of rapid industrialization in India & China. Moreover, high growth of the automotive sector in the region and rising number of government initiatives to promote and revitalize the construction industry are further boosting the regional market.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Resorcinol Market By End-User Industry, By Manufacturing Process, By Application, By Region, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of global resorcinol market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in the global resorcinol market.
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