Cashew Nutshell Liquid Market | Key players operating in the market include cardolite company, pelmer international, senesel, sri devi group

CSNL-based products are widely used in agriculture, chemical, petrochemical, and other industries. They help manufacturers address issues related to environmental norms and product performance. The Cashew Nutshell Liquid Market size is estimated to be USD 393 million in 2022 and is projected to reach USD 564 million by 2027, at a CAGR of 7.5% between 2022 and 2027. Increasing demand from the chemical and petrochemical industries, the rising demand for natural resources for various applications are significantly driving the market globally. The major challenges for resin manufacturers are the increasing prices and stringent regulations set by various governments. Fluctuations in raw material prices are also restraining the market.

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CNSL is a versatile raw material to multiple products such as phenol formaldehyde (PF) resins, epoxy modifiers & resins, epoxy curing agents, surfactants, polyols & NCO blocking agents, friction materials, others are the major types of resins.

CNSL-based products offer exceptional performances and advantages for adhesives. Adhesives are exposed to varied environmental conditions for a number of applications; CNSL technology ensures structural bonds remain strong throughout the lifespan of the adhesives. CNSL-based adhesives offer water resistance, chemical resistance, thermal resistance, shock resistance, adhesion under adverse condition, and excellent mechanical properties.

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Manufacturers are looking for solvent-free and waterborne solutions with enhanced performance under broad categories such as fast bond development under subzero temperatures and water, along with chemical resistance and corrosion protection for exposed surfaces.

The CNSL market in Asia Pacific is segmented into China, India, Japan, South Korea, Vietnam, Indonesia, and Rest of Asia Pacific. This region is one of the key markets for CNSL, accounting for 25.3% of the global market in 2021 in terms of value. The availability of raw materials and labor at economical prices, coupled with significant domestic demand, makes this the most attractive market for industry participants. The global demand for CNSL is increasingly driven by developments, such as rapid industrialization, increasing demand from industries such as automotive and electronics, in Asia Pacific, specifically in China, India, Vietnam, and Indonesia. Manufacturing activities in Asia Pacific are also increasing, due to rising income levels, increasing number of nuclear families, affordable interest rates, and changing lifestyles.

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The key players operating in the market are cardolite company(U.S.A), pelmer international(U.S.A), senesel(Poland), sri devi group(India).

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