Press release
Resorcinol Market to Observe Strong Development by 2024 - 2031 | Mitsui Chemicals Inc., Indspec Chemical Corporation
Resorcinol Market
Resorcinol, also known as m-benzenediol or 1,3-benzenediol, is an organic compound that is majorly used as a reactive intermediate for the synthesis of resins. It is a white solid and is soluble in water. Resorcinol is used in rubber products, flame retardants, hair dyes, etc.
Market Dynamics:
The increasing demand from the tire industry is expected to propel the growth of the resorcinol market during the forecast period. Resorcinol is used as an antioxidant and a curing agent in the production of synthetic rubber which is a key raw material for tire manufacturing. According to the Tyre Industry Confederation, the global tire industry produced over 1.5 billion passenger car and truck tires in 2021. Additionally, rapid urbanization and rising vehicle parc are fueling the demand for new tires, which is expected to augment market growth over the coming years. Furthermore, growing usage of resorcinol as a building block in polymer and resin production is also anticipated to boost market expansion.
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Rising Demand from Rubber Industry is Driving the Resorcinol Market
The rubber industry has been one of the major consumers of resorcinol over the years. Resorcinol is used as a cross-linking agent and antioxidant in the manufacturing of tires, industrial and medical rubber products. Growing automotive industry has been the key growth driver for rubber industry which in turn has increased the demand for resorcinol. According to International Rubber Study Group, global automotive tires production increased from 1.49 billion units in 2016 to 1.54 billion units in 2019. Increasing vehicle fleet across major economies such as China, US, India and countries in Southeast Asia is expected to boost the demand for tires and rubber products. This rising demand from automobile industry will have direct impact on resorcinol market during the forecast period.
Growing Use of Resorcinol in Wood Adhesives is Driving the Market
Resorcinol formaldehyde resin is one of the most widely used adhesives in manufacturing of plywood, laminated veneer lumber and other wood composite panels. Significant growth in construction industry and renovation activities across developed as well as developing economies has raised the demand for wood composite panels globally. Resorcinol based adhesives provide excellent adhesion, water resistance and dimensional stability in wood composite panels. Additionally, resorcinol adhesives emit low or zero formaldehyde emissions and are environment friendly. Stringent regulations towards reducing formaldehyde emissions from wood panels will further drive the use of resorcinol adhesives.
Growing Use of Resorcinol in Pharmaceuticals Presents Significant Opportunities
Resorcinol is widely used as an active pharmaceutical ingredient (API) and intermediate in manufacturing of various pharmaceutical formulations and drugs. It is used as an antiseptic in topical dermatological products and also exhibits analgesic, antipyretic, anti-inflammatory properties. Resorcinol diacetate is used as a photoscreening agent in sunscreens and also finds application as sunless tanning agent. Additionally, resorcinol exhibits antimicrobial activity against bacteria, yeasts and fungi. Increasing healthcare spending and demand for skincare and sun protection products will boost the consumption of resorcinol in pharmaceutical industry. Rapid growth of pharmaceutical industry especially in emerging economies of Asia Pacific and Latin America presents lucrative growth opportunities for resorcinol market players over the coming years.
Environment Compliances is Influencing Resorcinol Market Trends
Stringent regulations towards reducing emissions of toxic and volatile organic compounds from various end-use industries will significantly influence the future market trends of resorcinol. Resorcinol manufacturers are focusing on developing eco-friendly and low emission resin technologies to comply with various environmental norms. For instance, phenol formaldehyde resin is being replaced by less hazardous and sustainable resorcinol formaldehyde resin in applications such as wood adhesives. Additionally, growing popularity of waterborne and powder coating technologies in paints & coatings industry has boosted the demand for water reducible resorcinol resins. Major players are investing in R&D activities to offer innovative and green product ranges made from resorcinol. These favourable market trends will have profound impact on global resorcinol consumption in upcoming years.
Top Companies Featured in This Report:
โ Mitsui Chemicals Inc.
โ Indspec Chemical Corporation
โ Sumitomo Chemicals.
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Market Segmentation:
Key Regions/Countries are Classified as Follows:
ยป North America (U.S., Canada, Mexico)
ยป Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
ยป Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
ยป South America (Brazil, Argentina, Rest of SA)
ยป Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
Why Choose Our Comprehensive Market Report:
โข Evaluate numerous aspects of the resorcinol Market outlook through Porter's Five Forces analysis.
โข Examine the growth rate and market shares of various product types and applications/end-users within the resorcinol Market.
โข Gain insights into the resorcinol Market dynamics across different regions.
โข Conduct a thorough Covid-19 Impact Analysis using a robust research methodology.
โข Stay updated on the latest developments, market shares, and strategies of key players in the resorcinol Market.
โข Delve into a detailed assessment of the market strategies, geographical presence, and business segments of the top players in the resorcinol Market.
โข Anticipate key challenges, product advancements, and potential solutions that may influence the market's progress and risks.
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Key Inquiries Addressed in this Report include:
โข What was the size of the resorcinol Market in 2024, and what is the projected value by 2030?
โข What is the present global market landscape for the resorcinol Market?
โข What strategies offer optimal opportunities for growth maximization in the business?
โข What recent trends are shaping the resorcinol Market?
โข How does the market share of resorcinol Market revenue, sales, and size vary across specific geographical regions?
โข Who are the prominent industry players in the resorcinol Market?
โข Which segment of the resorcinol Market is experiencing heightened demand?
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Resorcinol is an organic compound with the formula C6H6O2. It is utilized as an effective chemical intermediate in introduction of organic compounds, diazo dyes, plasticizers and in pharmaceutical formulations. Resorcinol is also cured as UV absorber in resins. In medication, it plays a vivacious role as an antiseptic, ointment preparation and several skin disease treatments.
For more details @ https://www.kenresearch.com/metal-mining-and-chemicals/chemicals/global-resorcinol-market/493205-101.html
According to the report analysis, 'Global Resorcinol (1,3-Dihydroxy Benzene, CAS 108-46-3)โฆ
Global Resorcinol Market 2018: How Will Perform in Future?
In this report, the global Resorcinol market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022.
What Is Resorcinol?
Resorcinol works by breaking down rough, scaly, or hardened skin. Resorcinol also disinfects the skin to help fight infection.
Resorcinol topical (for the skin) is used to treat pain and itching causedโฆ
