Press release
Cashew Nutshell Liquid Market Size to Reach USD 846.53 Million by 2032
Cashew Nutshell Liquid Market
The Cashew Nutshell Liquid Market, valued at USD 481.77 million in 2024, is projected to grow at a CAGR of 7.3% from 2025 to 2032, reaching approximately USD 846.53 million by the end of the forecast period. This robust growth is driven by increasing applications across coatings, friction linings, adhesives, and specialty chemicals, supported by a shift toward bio-based products.
Higher demand is notably observed in Asia Pacific and Europe, supported by rapid industrialization, while North America is also witnessing substantial consumption growth due to increased adoption in automotive and chemical sectors.
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►Cashew Nutshell Liquid Growth in United States: Competitive Edge and Updation
In the United States, the market benefits from technological innovations and sustained demand in friction linings and surface coatings. Key companies like Cardolite Corporation and Senesel have strengthened domestic production capabilities.
Region-specific mergers and acquisitions highlight consolidation, such as Vertellus Holdings LLC expanding its specialty chemicals portfolio by acquiring niche resin manufacturers to diversify product offerings based on cashew nutshell liquid.
Recent Developments: In 2023, Cardolite Corporation launched next-generation CNSL-based epoxy hardeners, enhancing eco-friendliness and performance, reflecting market commitment to sustainability.
►Cashew Nutshell Liquid Opportunity in Asia Pacific: Trends and Expansion
Asia Pacific is witnessing the fastest CAGR, driven by rising demand in India, China, and Southeast Asia. Rapid industrialization and government policies supporting green materials further fuel growth.
Key Recent Developments: In 2024, Shandong Haobo Biological Technology Co., Ltd. announced plans to invest in advanced CNSL extraction facilities in China, while Indian manufacturers expanded export capacities to Europe and the US.
Mergers & Acquisitions: Local players are collaborating with global firms to enhance processing technologies and broaden product portfolios, increasing competitiveness in the region.
►Cashew Nutshell Liquid Trends in Middle East & Africa: Consolidation and Growth
The Middle East and African markets are emerging steadily, supported by rising industrial demand and construction activities. Companies like K2P Chemicals are exploring CNSL-based resins for new infrastructure projects.
Recent Developments: Investment announcements in the UAE aim to establish new CNSL blending facilities, targeting the local paints and coatings industry.
Mergers & Acquisitions: Regional players are partnering with Asian companies to gain technical know-how and secure raw material supply chains.
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►Cashew Nutshell Liquid Updation in Europe: Sustainable Push and Strategic Moves
In Europe, growth is fueled by stringent regulations promoting bio-based alternatives in the automotive and chemical industries. Companies such as Senesel and Sri Venkatesh Aromas have increased supply to European OEMs, responding to demand for greener solutions.
Recent Developments: European companies have partnered with Asian producers to ensure a stable CNSL supply, while R&D projects focus on high-purity resins.
Mergers & Acquisitions: Strategic tie-ups have emerged, like alliances between European specialty resin manufacturers and Indian exporters, driving innovation and sustainability.
►Competitive Landscape
The market is moderately fragmented, with prominent players including Cardolite Corporation, Senesel, K2P Chemicals, and Shandong Haobo Biological Technology Co., Ltd. Companies compete through product differentiation, expansion, and partnerships.
The adoption of CNSL-based products is expected to keep rising, driven by its eco-friendly profile and diverse industrial applications.
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► Market Segmentation: In-Depth Analysis:
• by Type
Epoxy Curing Agents
Epoxy Modifiers & Resins
Surfactants
Phenol-Formaldehyde (PF) Resins
Friction Materials
Polyols & NCO Blocking Agents
Others
With a 19% market share in 2024, the polyols & NCO blocking agents category led the industry. In comparison to polyether polyols, natural oil polyols, and other polyols, the CNSL polyols have some advantages. The CNSL polyols and diols are less sensitive and offer water resistance during the isocyanate. The blocked isocynates are well recognized in the industries for applications like coatings and adhesives. Due to applications like coil coatings, electrostatic spraying, and powder spraying, a remedy for health issues during the coating process is offered.
• by Application
Personal Care
Adhesives
Friction Linings
Laminates
Foams & Insulation
Coatings
Others
According to the application, in 2024, the personal care segment had the biggest market share, accounting for 23% of the total. Personal care is one of the applications in the cashew nutshell liquid market that is expanding the fastest due to the modern lifestyle. The CNSL is utilized in the production of non-ionic and surface-active agents. The structure has a hydrocarbon group and a hydrophilic phenolic group. The structures are altered in order to enhance the ion exchange properties, such as the sulphonic acid group.
For deeper market insights, peruse the summary of the research report:https://www.maximizemarketresearch.com/market-report/cashew-nutshell-liquid-market/147699/
► Learn about the top players driving innovation in the Market :
1. Senesel
2. CIONE
3. KSA Kamath and Sons
4. K2P Chemicals
5. Sri Devi Group
6. Muskaan
7. Shivam Cashew Industry
8. Cat Loi
9. LC BUFFALO
10. Son Chau
11. Palmer International,
12. Olam Agro India Pvt. Ltd
13. Cardolite
14. C.Ramakrishna Padayatchi
15. Golden Cashew Products
16. Adarsh Industrial Chemicals
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