Phenol Market Qualitative Insights on Application & Outlook By Size, Share, Future Growth and Forecast

SDKI Inc. published a new report on the phenol market. This study includes the statistical and analytical approaches needed to grow the phenol market. The key industry insights provided in the report provide readers with better ideas about market overviews regarding existing market scenarios. In addition, the report contains a detailed discussion of current and future market trends related to market growth.

Report sample URL
https://www.sdki.jp/sample-request-92771

The phenol market is estimated to reach a market value of approximately US $ 103.3 billion by 2031, from a market value of approximately US $ 27.4 billion in 2022, and is expected to grow at a CAGR of 18% during the 2022-2031 forecast period.

Phenol, also known as carbonic acid, is an aromatic organic compound (molecular formula C6H5OH). This acid is produced at the industrial level by mixing propylene and benzene with the cumene process. Phenol is used in different fields and for different purposes. The main use of phenol, which consumes two-thirds of its production, is the conversion to plastic precursors. In the medical field, phenol is a precursor to a large collection of drugs, especially aspirin and many herbicides and medicines.

In addition, it is used to cure sore throat (inflammation of the pharynx in the back of the throat). In the aviation industry it is used to remove epoxies, polyurethanes and other chemical resistant coatings. Phenolic derivatives are also used in the manufacture of cosmetics such as sunscreens, hair colors and whitening agents. Phenol consumption is driven primarily by agriculture (especially fungicides) and the livestock sector, which accounts for the majority of its consumption.

The phenol market has the potential to gain momentum over the next few years due to its commercial viability and various uses. The growing demand for its derivatives for use in a variety of applications is driving the growth of the global phenolic market during the forecast period. In addition, increased construction activity as a result of rapid economic growth has boosted the consumption of phenolic resins in the manufacture of laminated beams, floor panels, and plywood. This is also a major contributor to the growth of the phenol market. In addition, the latest technology research and development programs related to phenol production minimize processing costs and improve product quality and yield. This factor is expected to drive phenol consumption during the forecast period.

Sample URL for the report
https://www.sdki.jp/sample-request-92771

Phenol market segment

The phenol market is divided by end use (bisphenol A, phenolic resin, caprolactam, alkylphenol, etc.) and by region. These segments are further subsegmented based on various factors and consist of some additional information about the market, such as the combined annual growth rate of each segment and subsegment, the market value and volume of the valuation period.

Regional Overview of the Phenol Market

Asia Pacific region is expected to hold the largest share of the global phenol market during the forecast period. This is due to the increased consumption and production of phenol in China. In addition, rapidly expanding economies such as India, Indonesia and Malaysia also offer favorable opportunities for the phenol market. Increased investment in the automotive, chemical and construction industries due to increased purchasing power is also driving the growth of the phenol market in the region. Meanwhile, the phenolic markets in Europe and North America are expected to grow steadily due to environmental regulations regarding the use of phenol.

These regional segments are North America (US and Canada); Asia Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Singapore, Other Asia Pacific); Latin America (Brazil, Mexico, Argentina, etc.) Latin America); Middle East and Africa (Israel, GCC [Saudi Arabia, Arab Emirates, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, and other Middle East and Africa) and Europe (UK, Germany, France, Italy) , Spain, Hungary, Belgium, Netherlands, Luxemburg, NORDIC, Poland, Turkey, Russia and other Europe) and more.

A major key player in the phenol market

Key players in the phenolic market include Ineos Phenol, Mitsui Chemicals, Cepsa Quimica, Kumho P & B Chemicals and LG Cemicals. The study includes a detailed competitive analysis of these major companies in the phenol market, corporate profiles, recent developments, and key market strategies.

Details of the survey report
https://www.sdki.jp/press-details/phenol-market/650

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This release was published on openPR.