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East Asia To Account For More Than One-third Share Of Global Alkyl Phenol Derivatives Market From 2021-2031
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Market players are involved in capacity expansion and acquisition & JV agreements to enhance their presence in this space.
• On 23 March 2021, SI Group announced Tackifier capacity expansion in France.
• In Sept 2020, SI Group announced Tackifier capacity expansion in China.
• In 2019, DIC Corporation acquired BASF Colors & Effect, which was BASF's subsidiary for the pigment sector.
• In 2020, Songwon Industrial Co. Ltd. entered into a distribution agreement with A. S. Paterson Company Ltd. in order to support the growth of performance chemicals across Canada.
Key Takeaways from Market Study
• The global alkyl phenol derivatives market is anticipated to reach a value of US$ 640 Mn by 3021.
• Rubber and plastic segment is expected to remain a key end use of alkyl phenol derivatives.
• East Asia is expected to hold a prominent share in the global consumption of alkyl phenol derivatives. The region is estimated to hold around 35.8% market share.
• By application, antioxidants are anticipated to witness substantial growth of around 3.5%.
• Pata-tert-butyl phenol is expected to remain a key product type. Global consumption of pata-tert-butyl phenol is expected to increase significantly for the production of phenolic resins.
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Competitive Landscape
The global market for alkyl phenol derivatives has been identified as a fairly consolidated space. Some of the key market participants included in the report are DIC Corporation, SI Group, TASCO Group, Sasol Limited, United Chemical Products Ltd., Maruzen Petrochemical Co., Ltd., FabriChem (NutriScience Innovations, LLC), HELM AG, Jiyi Group, SONGWON Industrial Group, Qingdao Scienoc Chemical Co., Ltd., Red Avenue New Material Group Co., Ltd., Prasol Chemicals Pvt. Ltd., Vinati Organics Limited, Novokuibyshevsk Petrochemical Company, Afton Chemical Corporation, Dayang Chem (Hangzhou) Co., Ltd., and Nanjing Datang Chemical Co., Ltd. Prominent players are anticipated to create a competitive environment across the globe.
Conclusion
The global alkyl phenol derivatives business is expected to witness considerable growth owing to increasing demand from rubber & plastic, lubricant & oil, adhesive, and various other end-use industries. Wide range of applications of various product types of alkyl phenol derivatives has resulted in steady market expansion. Growing demand for various resins the market is expected to drive the growth rate of the market.
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