Global Carbolic Oil Market - 2023-2030

Global Carbolic Oil Market - 2023-2030

Market Overview

The global carbolic oil market size was worth US$ XX million in 2022 and is estimated to reach US$ XX million by 2030, growing at a CAGR of XX% during the forecast period (2023-2030).

Carbolic oil is also known as middle oil and it is obtained via coal-tar distillation that typically contains tar acids and naphthalene. The complex mixture of coal tar is made from condensable organic components, which emerge from coal carbonization. Phenols, a highly important industrial commodity frequently used to synthesize plastics, detergents, nylon, herbicides, pharmaceuticals, polycarbonates and other alternatives, are extracted by carbolic oil. The respective fact is the most prominent application of carbolic oil. The chemical derivatives of carbolic oil are used to produce numerous pharmaceutical drugs, polycarbonates and others.

Market Dynamics

Because of the increased use of its most common derivative, phenol, in cosmetics manufacturing, the global carbolic market is expected to grow exponentially. The strong demand for phenol in pharmaceuticals will further boost the market's growth. Similarly, the increased investments in the research and development of carbolic acid derivatives will propel market growth. However, the main challenge faced by the market is the toxic nature of carbolic oil and its detrimental effects on humans owing to prolonged exposure.

Increasing demand for carbolic oil in pharmaceutical & personal care sectors

Carbolic oil is highly utilized in cosmetics products like hair coloring, primer, sunscreen lotion and lightening creams. Moreover, carbolic oil is used in household applications to prevent snake infestation. Carbolic oil acts as an antiseptic agent, which is used to prevent microbial growth. The derivatives of carbolic oil are used to produce detergents, herbicides, pharmaceutical drugs, polycarbonates and nylon. Further, the increasing product demand in the extraction of phenol and the pharmaceutical industry is driving the global carbolic oil market growth. The demand for cosmetics, coupled with increasing product usage in the cosmetics industry, is expected to drive the global carbolic oil market demand.

The toxicity of carbolic oil on human health restrains the market growth

Carbolic oil is extremely dangerous when it comes into touch with the skin because it is corrosive and can permeate and irritate the skin. Carbolic oil can cause tissue damage when exposed to it as a liquid or spray, especially to the mucous membranes of the mouth, eyes and respiratory tract. Burns could result from skin contact and breathing in the spray mist could severely irritate the respiratory tract, as seen by choking, coughing or shortness of breath. As the respective properties result in stringent regulations and control over product sales, it could be said that carbolic oil's poisonous properties constrain the market's growth.

COVID-19 impact analysis

The COVID-19 pandemic unevenly impacted the global carbolic oil market. The pandemic and government-ordered lockdowns have led to a deep recession impacting virtually every region in 2020. The consumption and production of consumer products such as pharmaceuticals and house holding products were also hit. Government trade restrictions, breaking supply chains, government restrictions on manufacturing products and globally lockdowns can affect the extraction of phenol demand. Therefore, the phenol materials processing factories were closed. Thus the demand for the global carbolic oil market decreased internationally.

Nonetheless, the impact of the pandemic has been negligible on the carbolic oil market. The pandemic will not impact the long-term growth prospects of the global carbolic oil market since growing residential and industrial will rise in the coming years. The demand for pharmaceuticals and householding remains strong and is expected to grow gradually in the coming years.

Segment Analysis

The global carbolic oil market is segmented into type, treatment, application and region.

The pharmaceutical segment covered a large share of the market due to the increasing use of carbolic oil in pharmaceutical drugs and herbicides in developing regions globally

The carbolic oil market by application is further segmented into the extraction of phenol, pyridine bases, pharmaceutical, house holding and others. The pharmaceutical segment covered a large area of carbolic oil. The segment dominance is attributed to the greater usage of carbolic oil in consumer products such as pharmaceutical drugs and herbicides. Carbolic oil is a versatile precursor to a large collection of drugs, most notably aspirin. Additionally, carbolic oil is a significant component in the liquid-liquid phenol-chloroform extraction technique used in molecular biology to obtain nucleic acids from tissues or cell culture samples. Depending on the solution's pH, DNA or RNA can be extracted.

Geographical Analysis

The global carbolic oil market is segmented into type, treatment, application and region.

The growing demand for sulfur-free and milder personal care products is expected to fuel the market's overall growth for carbolic oil

Asia-Pacific has a leading regional share in the global carbolic oil market. Asia-Pacific is predicted to control the largest share of the global carbolic oil market during the forecast of the growth in the consumption and production of consumer products from various countries. The growing demand for sulfur-free and milder personal care products is expected to fuel the market's overall growth for carbolic oil. However, speedily expanding economies such as India, China and Malaysia also propose lucrative opportunities for the market. The effective growth in investments in pharmaceutical and cosmetic industries owing to increased purchasing power propels the global carbolic oil market.

Additionally, many international and medicinal developing companies are based in the Asia-Pacific, so it is expected to influence the carbolic oil market. Therefore, many manufacturing companies are based in China and India, so it is expected to see growth in the future. The innovation regarding power antiseptics and transportation packaging in the carbolic oil market is set to develop in the future.

North America is also the leading market with rising per capita health spending in U.S. Therefore, the demand for carbolic oil is expected to increase in coming years, which boosts the demand for insulation in the region. The increasing medical industry spending in the form of hospitals and infrastructures in U.S. has been one of the major trends impacting the market in North America.

Competitive Landscape

The growth amongst the different segments helps to attain the knowledge related to the different growth factors expected to be prevalent throughout. The market and formulate different strategies to help identify core application areas and target markets. Carbolic oil is competitive due to the availability of a wide range of consumer products that cater to different applications. The major players contributing to growth in the market are Elkem and Shanghai HaiChagn petroleum equipment co. ltd, Industrial química del NalónJining chenguang coal chemical co. Ltd, NalonChem, KUMHO P&B CHEMICALS., INC, Rain industries limited, Nippon steel and sumikin chemical, Metinvest and Hindustan Chemicals & Almn. Industries. The major players in the market adopt several growth strategies such as formulating and patenting new molecules, researching new sources, collaborations and joint ventures to contribute to growth in the industry.

Elkem

Overview:Elkem develops silicones, silicon products and carbon solutions by combining natural raw materials, renewable energy and human ingenuity. Elkem has had a leading role as a technology provider and supplier of specialty carbon products to the pyro-metallurgical industry since the invention of the Søderberg electrode in 1919. It continues to deliver high-quality products and solutions to our customers from our operations in 5 locations globally. Elkem gives services to customers to create and improve essential innovations like electric mobility, digital communications, health and personal care and smarter and more sustainable cities. Elkem was founded in 1904 by Sam Eyde. Stepan company is headquartered in Oslo, Norway.

Elkem develops, produces and markets intermediates globally. The most important of the division’s product groups include consumer products and industry. Innovative intermediates from Elkem help improve the efficiency of final product properties and production processes.

Product Portfolio
• Carbolic Oil: Elkem offers carbolic oil under the specialty oils section, widely used to extract phenols, pharmaceuticals and other households. Its products are also known as tar pitches derived from tar and plant. Its tar pitches and binder oils are also used in manufacturing cathodes and anodes in the aluminum industry. Further, this product can be supplied to refractory and chemical industries.

Key Developments:
• In November 2021, Elkem launched antifoam solutions for drilling fluid. Drilling fluid formulations can be aqueous or non-aqueous and contain natural or synthetic clay, fillers, lubricant and stabilizing and dispersing agents. Its generate entrapped air during manufacturing, pumping and injection. The air or foam is detrimental to effective process control and adversely affects the safety and economy of the production process.

Why Purchase the Report?
• Visualize the composition of the global carbolic oil segmentation by the type, treatment, application and region, highlighting the critical commercial assets and players.
• Identify commercial opportunities in the global carbolic oil market by analyzing trends and co-development deals.
• Excel data sheet with thousands of global carbolic oil market-level 4/5 segmentation data points.
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the critical product of all major market players

The global carbolic oil market report would provide approximately 61 market data tables, 60 figures and 204 pages.

Target Audience 2023
• Extraction of phenol manufacturers
• Surfactants manufacture
• Cleaning agents manufacturers
• Chemical companies manufacturers
• Education & Research Institutes
• Research Professionals