Press release
Resorcinol Market is set to garner staggering revenues by 2024 - 2031 | Mitsui Chemicals Inc., Indspec Chemical Corporation
Resorcinol Market
Resorcinol is an organic compound which is used as a chemical intermediate in the production of myriad dyestuffs, pigments, perfumes as well as pharmaceuticals. It also finds applications as a rubber bonding agent and crosslinking agent.
Market Dynamics:
The global resorcinol market is expected to witness significant growth over the forecast period owing to increasing demand from rubber industry. Resorcinol is used as a bonding agent and crosslinking agent in the production of rubber products like tires, conveyor belts, and other molded rubber goods. According to The Rubber Manufacturers Association, global production of tires grew by around 3.5% annually during 2018-2020. Rising automotive production and sales worldwide are fueling demand for rubber and correlatively resorcinol. Furthermore, growth in construction industry is also augmenting rubber product demand including conveyor belts, hoses etc. propelling market growth.
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Rising demand for rubber products drive resorcinol market
The rubber industry consumes a significant portion of the global resorcinol output as resorcinol acts as a key chemical intermediate in manufacturing of various rubber products like tires, conveyor belts, adhesives, gaskets etc. It is used as a hardening agent and antioxidant additive in the production of synthetic and natural rubber products. With growing vehicle parc, urbanization and industrialization worldwide, the demand for tires and various other rubber goods has increased substantially over the past few years. According to various estimates, the global tire market alone is projected to surpass US$ 250 Bn by 2025. This steady growth of the rubber products industry directly influences the consumption of resorcinol and acts as a primary growth driver for the resorcinol market.
Rising use of resorcinol in pharmaceutical industry presents lucrative opportunity
Apart from the conventional applications, resorcinol has emerged as an important intermediate in pharmaceutical synthesis owing to its medicinal properties. It is widely used in the manufacturing of several drugs and pharmaceutical formulations meant for treatment of diseases like arthritis, bladder infections and even cancer. Resorcinol based drugs exhibit anti-inflammatory, antiseptic and antibacterial effects. According to reliable reports, the global pharmaceutical market is estimated to reach a valuation of over US$ 1.3 trillion by the end of 2023. This burgeoning pharma industry offers huge untapped growth prospects for resorcinol consumption. Ongoing R&D for novel drug formulations involving resorcinol also presents lucrative opportunity for manufacturers.
Growing preference for bio-based resorcinol marks a key trend
With rising health and environmental consciousness, manufacturers are focussed on developing bio-based and sustainable alternatives to conventional resorcinol. As a result, bio-based resorcinol obtained from renewable feedstock like sucrose and vegetable oil, has emerged as a popular trend in the market. Unlike phenol-based resorcinol, bio-resorcinol has lower toxicity and environmental footprint. It can be easily degraded and has superior compatibility with natural polymers. Regulatory push for green chemicals and banning of certain phenol derivatives in developed nations is also driving the transition towards bio-resorcinol. Leading companies are steadily increasing investments in R&D and production of plant-derived, eco-friendly resorcinol products to capitalize on the market shift towards sustainable chemistries. This shift to bio-based formulation reflects the key trends redefining the future resorcinol industry landscape.
Top Companies Included in This Report:
โ Mitsui Chemicals Inc.
โ Indspec Chemical Corporation
โ Sumitomo Chemicals.
Key Regions/Countries Classified as Follows:
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
South America (Brazil, Argentina, Rest of SA)
Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
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Latest Trends in the Navigation Resorcinol Market:
Surging Demand: Witness a rising demand for navigation Resorcinol owing to the escalating usage of GPS-enabled devices and the imperative for precise, up-to-date mapping data.
Innovations in Technology: Witness the emergence of novel technologies aimed at enhancing the precision and dependability of navigation Resorcinol, encompassing real-time traffic updates, 3D mapping, and augmented reality.
Tailored Solutions for Diverse Industries: Companies are tailoring navigation Resorcinol solutions to cater to the distinct requirements of various sectors such as automotive, aviation, and maritime.
Fusion with Emerging Technologies: Observe the integration of navigation Resorcinol with cutting-edge technologies like artificial intelligence and the Internet of Things, facilitating the provision of advanced functionalities.
Rise of Mobile Applications: Experience the proliferation of navigation Resorcinol in the form of mobile applications, offering enhanced convenience and accessibility to users.
Emphasis on Environmental Sustainability: Witness the development of navigation Resorcinol systems that consider environmental factors such as traffic congestion and air quality, fostering the provision of sustainable transportation alternatives.
Report Highlights:
Evaluation of Navigation Resorcinol Market Share at Country and Regional Levels.
Strategic Landscape Analysis, Highlighting Key Trends.
Examination of Navigation Resorcinol Market Trends, Including Product and Technological Insights, Drivers and Constraints, and PORTER's Five Forces Analysis.
Strategic Recommendations for Key Business Segments Based on Market Assessments.
Guidance Tailored for New Entrants.
Market Forecasts for All Identified Segments, Sub-segments, and Regional Markets in the Navigation Resorcinol Sector.
Frequently Asked Questions (FAQs) for Global Navigation Resorcinol Market Research:
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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
