Phenol Derivative Market By Derivative (Phenolic Resin, Bisphenol-A (BPA), Caprolactam, Alkyl Phenol, Others), By End-Use Industry (Electrical and Electronics, Chemicals, Coatings, Automotive, Textile, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The phenol derivatives market attained $36.6 billion in 2021 and is projected to reach $56.5 billion by 2031, growing at a CAGR of 4.6% from 2022 to 2031.
Phenol is an aromatic white crystalline molecule with phenyl and hydroxy groups that are covalently linked. It is primarily employed as a precursor in the production of essential industrial chemicals such as plastics and related substances. Certain qualities, such as water solubility and a high boiling point, resemble those of alcohols since the chemical structure of the substance is closely related to that of alcohol.
The compound is acidic, making it highly hazardous and caustic; therefore, it must be handled with care to prevent chemical burns. It is also employed in the synthesis of various commercial products, including detergents, polycarbonates, epoxies, and nylon in the form of basic compounds. In addition, the organic nature of the product aids in the formulation of essential organic compounds, which will indirectly boost product sales over the forecast period. The rise in household product manufacture, including floor coverings, foam settings, and bedding products, will continue to expand the market for phenol derivatives.
The market for phenol derivatives is experiencing a surge in demand due to its widespread application in automotive metal coatings, household items, rubber products, and industrial synthesis intermediates. Due to their distinctive qualities, such as immaculate coating, strong plasticizing effect, flexibility, durability, chemical resistance, film toughness, and increased adhesion, the demand for phenol derivatives is expanding. These features of phenol derivatives are driving their demand in a variety of end-use industries, including the electronics, textiles, packaging industries and automotive, which will greatly expand the market for phenol derivatives. The low price and easy availability of phenol derivatives have resulted in an expanding scope and range of applications, which is anticipated to be the primary growth driver for the global phenol derivatives market. On the other hand, the use of phenol derivatives compounds has adverse effects on human health, including respiratory trouble, fever, headache, edema, vomiting, and nausea, which is expected to hamper the global phenol derivatives market over the forecast period. The increased demand from pharmaceuticals, such as the use of salicylic acid in headache medication and hydroxyphenol in the production of tranquillizers, is anticipated to generate new growth opportunities for the global phenol derivatives market.
Over the past decade, the pharmaceuticals sector in different areas of the world has recognized the tremendous formulation potential of phenol derivatives in neuromodulatory medications. The structural characteristics of phenol derivatives have been illuminated by a number of in-vivo research. In this regard, the clinical significance of substituted phenol derivatives has gained prominence.
The rise of the global phenol derivatives market in Asia-Pacific has been propelled by substantial investments in sourcing, extraction, and use of various types of phenol derivatives in key growing economies such as South Korea, Japan, China, India, and Thailand. In addition, favorable laws for the chemical industries contribute to the expansion of the phenol derivative market in Asia-Pacific.
The global phenol derivatives market is segmented into derivative, end-use industry, and region. Depending on derivative, the market is classified into phenolic resin, bisphenol-A (BPA), caprolactam, alkyl phenol and others. On the basis of end-use industry, it is categorized into electrical and electronics, chemicals, coatings, automotive, textile and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global phenol derivatives market Cepsa, Covestro AG, Dow Inc., Exxon Mobil Corporation, Formosa Chemicals & Fibre Corp, Hexion Inc, Honeywell International Inc., Ineos, Kumho P & B Chemicals., Inc, Mitsubishi Chemical Holdings Corporation, Mitsui Chemicals, Inc, PTT Phenol Company Limited, SABIC, Shell Plc, and Solvay SA.
Other players operating in the market are Chang Chun Group., Versalis S.p.A., Taiwan Prosperity Chemical Corporation, and Altivia.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the phenol derivative market analysis from 2021 to 2031 to identify the prevailing phenol derivative market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the phenol derivative market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global phenol derivative market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Derivative
Phenolic Resin
Bisphenol-A (BPA)
Caprolactam
Alkyl Phenol
Others
By End-Use Industry
Electrical and Electronics
Chemicals
Coatings
Automotive
Textile
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Spain
Italy
Rest Of Europe
Asia-Pacific
South Korea
Australia
Rest Of Asia-Pacific
China
Japan
India
LAMEA
Brazil
Saudi Arabia
South Africa
Rest Of LAMEA
Key Market Players
Exxon Mobil Corporation
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