Phenol Derivatives Market - Industry Analysis,Trends and Forecast upto 2025
Phenol derivatives are one of the most important classes of aromatic compounds in organic chemistry. They are synthesized by ruthenium-catalyzed ring-closing olefin metathesis of 1,4,7-trien-3-ones with versatile substitution patterns.
Several phenolic compounds are present in nature and are used in the manufacture of perfumes and flavors on account of their pleasant odor. Phenolic compounds largely involve plant metabolic system and are extensively spread throughout the plant kingdom. Phenolic compounds are also manufactured synthetically. The majority of phenolic compounds are soluble in nature but the smaller molecules can be volatile.
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Some of the commonly used phenol derivatives are bisphenol-A, alkylphenols, chloro-phenols, salicylic acid, and hydroxyphenol. Bisphenol-A is the most extensively used derivative of phenol. It is mainly used to produce epoxy resins and polycarbonates. Epoxy resins are used for paints coatings and mouldings and polycarbonates find application in food and drink packaging, impact-resistant safety equipment, medical devices, and compact discs. It is expected to be the leading derivative in the phenol derivatives market in the forthcoming years.
Alkylphenols are used in the manufacture of detergents, surfactants, and emulsifiers, and also in insecticides and plastics production. Chloro-phenols are used in medical antiseptics and bactericides. They are also used in fungicides for preservation of timber and are used as additives to prevent microbial growth in several products.
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Salicylic acid is used in the production of aspirin and other pharmaceuticals. Hydroxyphenol is used in drug manufacturing and in agrochemicals. Bakelite is used in hip joint replacement parts, cataract lenses, and pacemakers. It is also used in the manufacture of rotary-dial telephones, guitars, and radio sets.
Global Phenol Derivatives Market: Overview
Phenol derivatives are compounds that are obtained from phenol, a carbolic acid found in household products such as detergents and throat sprays. Increasing number of applications of phenol derivatives on account of their low costs and easy availability, will augment the worldwide demand for phenol derivatives, suggest analysts.
The report analyzes key market factors such as growth opportunities, trends, drivers, and restraints prevailing in the global market for phenol derivatives. The report also covers topics such as market attractiveness, market projection, and market size, along with accurate market figures and statistical data. The business strategies, market shares, recent developments, and product portfolios of the major market players have been revealed, in addition to recommendation to companies.
Global Phenol Derivatives Market: Drivers and Restraints
The continuous demand for Bisphenol A will support the global market for phenol derivatives in reaching new heights. Bisphenol A is extensively used in the polycarbonates that are used in medical industry and consumer goods. As both of these sectors have been growing at a fast pace, the demand for bisphenol A is likely to extend.
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Recently, the wind energy sector has been growing in several countries. Wind turbine power generators require epoxy resins in their rotor blade composites. The global inclination toward cleaner sources for generating energy is expected to increase the demand for epoxy resins, boosting the overall phenol derivatives market. Epoxy resins, acquired through phenol derivatives, are being widely adopted in numerous other areas such as general purpose adhesives, rigid foams, industrial coatings, non-skid coatings, in cements and mortars, and in oil drilling. This will further fuel the demand for phenol derivatives. Moreover, newer formations of phenol derivatives are being developed as per the requirements of different industries, contributing towards market growth.
Chloro-phenols, bisphenol A, salicylic acid, bakelite, and alkyl-phenols are some of the derivatives of phenol, which can be some of the segments based on type. Chloro-phenols are used in medical industry for manufacturing bactericides and antiseptics such as Dettol. Bisphenol A is used in the production of paint coatings, domestic electrical appliances, in polycarbonate plastics, and epoxy resins. Salicylic acid is used in the manufacturing of aspirin and other similar pharmaceuticals. Whereas, bakelite is used in the production of cataract lenses, hip joint replacement parts, rotary dial-dial telephones, guitar, and radio sets. This rise in the variety of end-user users will augment market growth. High level of competition is expected to pose a threat to the market.
Global Phenol Derivatives Market: Regional Outlook
Based on geography, the global phenol derivatives market can be segmented into Europe, North America, Latin America, and Asia Pacific. Europe and North America will be the most prominent regions owing to the growing production of antiseptics and disinfectants. Hospitals, food-processing units, and homes have been displaying great demand for disinfectants and antiseptics in these regions.
The region of Asia Pacific is projected to emerge at the foremost with a rapid rate of growth. The factors driving the market in these regions include high levels of industrialization, increasing manufacturing of electronic products, and expansion of the automotive industry. China appears to be the leading regional market in Asia Pacific, and is expected to retain its position, as it has been importing a major portion of phenol derivatives. Apart from China, South Korea, Japan, India, and Taiwan are exhibiting high demand for phenol derivatives.
Companies Mentioned in the Report
Some of the key players operating in the global market for phenol derivatives are Honeywell International Inc., Royal Dutch Shell Plc, Sinopec, LG Chem INEOS, Compañía Española de Petróleos S.A.U., and Mitsui Chemicals, Inc.
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