Global Phenol Market Analysis: Plant Capacity, Location, Process, Technology, Production, Operating Efficiency, Demand & Supply, End Use, Regional Demand, Sales Channel, Company Share, Foreign Trade, Industry Market Size, Manufacturing Process, 2015-2

Global Phenol Market Analysis: Plant Capacity, Location, Process, Technology, Production, Operating Efficiency, Demand & Supply, End Use, Regional Demand, Sales Channel, Company Share, Foreign Trade, Industry Market Size, Manufacturing Process, 2015-2032

H1 2023: The leading phenol producers in H1 2023 were Ineos Group Ltd, Cepsa Corporation, Formosa Chemicals and Fibre Corp, and Kumho P&B Chemicals., Inc. In April 2023, INEOS Phenol, one of the top phenol producers acquired Mitsui Phenols Singapore Ltd. for a sum of USD 330 million. The contract covers the whole capital base from Mitsui Phenols situated in Singapore, adding more than 1 million tonnes of capacity each year. The company has a $750 million annual revenue. The acquisition includes phenol of 310 thousand tonnes per annum along with other chemicals like cumene, acetone, alpha-methylstyrene, and bisphenol A. Furthermore, from January 2023, Mitsui Phenols Singapore Ltd. had their plant under maintenance shutdown for 3 months. Geographically, Asia Pacific was the leading consumer of Phenol in H1 2023. The price trends of phenol in China's market displayed conflicting market fundamentals in H1 2023. In the beginning of 2023, the demand of phenol by the downstream paints and coatings industries strengthened the phenol market. However, phenol prices fell near mid-February 2023 due to inexpensive imports from Thailand which caused the market price of phenol to decline in China. The prices continued to decline continuously in the Chinese market due to weak demand from the downstream end-user industries.

The global Phenol market stood approximately 10.8 million tonnes in 2022 and is expected to grow at a CAGR of 3.57% during the forecast period until 2035.

Phenol is an aromatic hydrocarbon with the chemical formula of C6H5OH. This appears as a white solid compound and readily soluble in water. This compound is produced by three main methods which are Dow process, Cumene process, and Raschig–Hooker process. On industrial level, the primary technologies used for its production are Honeywell UOP, KBR, Versalis/Lummus, Mitsui, Badger, Lummus Technology, and Others. Phenol is utilized to produce various chemicals such as picric acid, bisphenol A, adipic acid, phenolic resins. These chemicals and intermediates are further utilized to produced commodities like nylon, Bakelite, epoxies, herbicides, inks, cleaners, detergents, and disinfectants. Phenolic resins are highly durable and insulating properties and employed by the woodwork industry for the manufacture of plywood, laminates, furniture items and even adhesives.

The primary market driver of the global Phenol market is for the synthesis of chemicals and their derivatives. Phenol is employed in various chemical industries to produce vital compounds such bisphenol A. Bisphenol-A industry consumed more than 40% of the global Phenol market in 2022 and is expected to dominate the market in the coming years as well. Polycarbonate plastic, one of the most widely used plastic, is synthesized using bisphenol A as raw material. Hard plastic products like baby bottles, plastic containers, reusable plastic bottles, cups, kitchenware, and food & beverage storage containers are made of polycarbonate plastic. Consumption of Phenol is expected to reach around 17 million tonnes by 2035.

The dominating region all over the world that demands the most significant volume of Phenol is Asia Pacific. This region topped with a consumption of more than 50% of the global market in 2022. With growing economies, the demand of plastics in the sectors like packaging, food, beverage, transportation which are anticipated to accelerate the Phenol demand in the forecast period. After Asia Pacific, Europe and North America also have significant market positions. Asia Pacific is also leading as a producer of global Phenol market.

Based on the end-user industry, the Phenol market is segmented into multiple sectors like Bisphenol-A, Phenolic Resin, Pharmaceuticals, Others. The Bisphenol-A industry is dominating the Phenol market. The primary application of Bisphenol-A is for the synthesis of polycarbonates. Epoxy resins, which serve as a protective layer inside some metal cans of packaged food items, also contain Bisphenol-A as an ingredient. Pharmaceuticals employ phenol due to its antibacterial and antifungal properties. Phenol is used as a disinfectant and antiseptic.

Significant companies for Global Phenol are Ineos Group Ltd, Cepsa Corporation, Formosa Chemicals and Fibre Corp., Kumho P&B Chemicals., Inc., Chang Chun Petrochemical Co., Ltd., LG Chem Ltd., PTT Phenol, Advansix, Zhejiang Petroleum & Chemical Co., Ltd., SABIC Innovative Plastics, and Shell Chemicals.

Years considered for this report:

Historical Period: 2015- 2022

Base Year: 2022

Estimated Year: 2023

Forecast Period: 2024-2035

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The objective of the Study:

• To assess the demand-supply scenario of Phenol, which covers the production, demand, and supply of Phenol around the globe.
• To analyze and forecast the market size of Phenol.
• To classify and forecast the Global Phenol market based on end-use and regional distribution.
• To examine global competitive developments such as new capacity expansions, mergers & acquisitions, etc., of the Phenol market.

To extract data for the Global Phenol market, primary research surveys were conducted with Phenol manufacturers, suppliers, distributors, wholesalers, and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for the Global Phenol market over the coming years.

ChemAnalyst calculated Phenol demand around the globe by analyzing the historical data and demand forecast, which was carried out considering the production of raw material to produce Phenol. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources, such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.

Key Target Audience:

• Phenol manufacturers and other stakeholders
• Organizations, forums and alliances related to Phenol distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Phenol manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.

Report Scope:

In this report, Global Phenol market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Attribute

Details

Market size Volume in 2022

10.8 million tonnes

Market size Volume by 2035

17 million tonnes

Growth Rate

CAGR of 3.57% from 2023 to 2035

Base year for estimation

2023

Historic Data

2015 – 2022

Forecast period

2024 – 2035

Quantitative units

Demand in million tonnes and CAGR from 2023 to 2035

Report coverage

Industry Market Size, Capacity By Company, Capacity by Location, Capacity by Technology, Capacity by Process, Production by Company, Operating Efficiency, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process, Policy and Regulatory Landscape,

Segments covered

By End-Use: (Bisphenol-A, Phenolic Resin, Pharmaceuticals, Others)

By Sales Channel: (Direct Sale and Indirect Sale)

Regional scope

North America, Europe, Asia Pacific, Middle East and Africa, and South America.

Pricing and purchase options

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Please Note: This report will be delivered on an online digital platform with a one-year subscription and quarterly update. Due to data confidentiality, we do not sell ChemAnalyst portal to competitors and consulting companies.