Global Phloroglucinol Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Phloroglucinol Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Phloroglucinol is an organic compound that is mainly used in pharmaceuticals. Its molecular formula is C3H6O3, with molecular weight of 126.11004 g/mol. Phloroglucinol can be used to relieve convulsions as bulk pharmaceutical and manufacture various pharmaceuticals as pharmaceutical chemical intermediates. Phloroglucinol is a derivative of phenol and has antispasmodic characteristics. It is also used for gallstones treatment, bladder spasm after transurethral resection of the prostate, irritable bowel syndrome, and others. In industry, phloroglucinol can be applied in aqueous adhesives and it also serve as a coupler in textiles dyeing.

Market Overview:

The latest research study on the global Phloroglucinol market finds that the global Phloroglucinol market reached a value of USD 39.75 million in 2022. It’s expected that the market will achieve USD 51.03 million by 2028, exhibiting a CAGR of 4.25% during the forecast period.

Strict production regulations

The production of phloroglucinol has a very strict process operation, and its production has a certain technical content. Phloroglucinol is a chemical substance. During the production process, workers not only need to strictly control the production temperature and time, but also need to standardize the operating methods. The substandard production environment and nonstandard operation will easily lead to the failure of Phloroglucinol production. Strict production process makes the quality requirements of phloroglucinol higher, which will make the industry invest more costs and limit the development of the industry to a certain extent.

Phloroglucinol enterprises are developing towards sustainable green direction.

Green chemistry or sustainable chemistry focuses on planning such processes and products that reduce or eradicate the application or production of dangerous materials. This initiative is pushing phloroglucinol manufacturers to review their business strategies. Environmental degradation has prompted different agencies to set stringent environmental regulations. Firms and companies are now prioritizing ecosystem friendliness and sustainability.
In order to achieve the objective of green phloroglucinol industry, Manufacturers are using smart manufacturing to add wings to the green transformation of enterprises, forming a sustainable green production method based on standardized green data.

Region Overview:

In 2021, the share of the Phloroglucinol market in North America stood at 38.28%.

Company Overview:

Kaifeng Mingren Pharmaceutical is one of the major players operating in the Phloroglucinol market, holding a share of 31.23% in 2022.
Kaifeng Mingren Pharmaceutical
Kaifeng Minren Pharmaceutical Co Ltd was established in the year of 2002, which is specializing in reaserching, manufacturing and sales of Human drugs, APIs, as well as Freeze-dried Power Injection. Engaged in the resaerch and promotion of advanced drugs. Moreover,Kaifeng Minren Pharmaceutical Co Ltd is the only manufacture in Central China, mainly producing polypeptide products.

Taixing Yinxin Chemical

Taixing Yinxin Chemical Co., LTD, a manufacturing and trading company, is the professional production enterprises. it has been the first extensive trade form to the professional production and R & D development. Taixing Yinxin Chemical can supply products and services which are focus on pharmaceutical, pesticide intermediates and other fine chemical products. Their products are in line with the relevant national quality standards and requirements.

Segmentation Overview:

Among different product types, Pharmaceutical Grade segment is anticipated to contribute the largest market share in 2027.

Pharmaceutical Grade

A drug, biologic, or reagent that is approved by the Food and Drug Administration (FDA) for use in humans or animals or for which a chemical purity standard has been established by the United States Pharmacopeia-National Formulary (USP-NF), or British Pharmacopeia (BP).

Industrial Grade

Of a type or quality suitable, intended, or necessary for industrial use. Industrial grade products can tolerate more extreme conditions than consumer products.

Application Overview:

The market's largest segment by application is the segment Pharmaceuticals, with a market share of 83.12% in 2021.

Pharmaceuticals

Phloroglucinol is a spasmolytic agent to treat colic, as well as spastic pain of the digestive and biliary tracts. Phloroglucinol has been used in trials studying the diagnostic of Colonoscopy.

Adhesive Resins

An aqueous adhesive composition includes: a phenol/aldehyde resin; and an unsaturated elastomer latex. The phenol/aldehyde resin is based on at least: an aromatic polyaldehyde bearing at least two aldehyde functional groups and including at least one aromatic nucleus; and phloroglucinol. The adhesive composition is useable to make a textile material adhere to a crosslinkable rubber composition, and may be used as an advantageous alternative to a formaldehyde-based RFL adhesive.

Dyeing Coupler

Coupler, also known as color coupler. Phloroglucinol is mainly used as a coupling agent in printing. It links diazo dyes to give a fast black. In cosmetic industry, Phloroglucinol is majorly used in hair color and hair dye.

Key Companies in the global Phloroglucinol market covered in Chapter 3:

Beijing Wisdom Chemicals
Precise Chemical Technology
Hebei Jianxin Chemical
Shouguang Fukang Pharmacy
Taixing Yinxin Chemical
East Star Biotech (Suzhou) Co., Ltd.
Jiangsu Dingye Pharmaceutical
Kaifeng Mingren Pharmaceutical

In Chapter 4 and Chapter 14.2, on the basis of types, the Phloroglucinol market from 2018 to 2029 is primarily split into:

Pharmaceutical Grade
Industrial Grade

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Phloroglucinol market from 2018 to 2029 covers:

Pharmaceuticals
Adhesive Resins
Dyeing Coupler
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)