Cashew Nut Shell Liquid (Cnsl) Market – Market Size & Forecast To 2032

Cashew Nut Shell Liquid (Cnsl) Market – Market Size & Forecast To 2032

The global cashew nut shell liquid market has been estimated to reach a value of USD 958.22 million in 2032 and is projected to grow at a CAGR of 6.67 % during the forecast period. Over the forecast period, the worldwide cashew nut shell liquid (CNSL) market is expected to be driven by an increase in the usage of CNSL as an alternative to unsaturated phenols. The market is largely driven by rising demand for laminating resins, epoxy resins, cashew cements, and rubber compounding resins, as well as foundry chemicals and other industrial applications.

Cashew nut shell liquid (CNSL) is a byproduct of the cashew industry that can be used for a variety of purposes. The nut has a 1/8-inch-thick shell with a delicate honey comb structure inside that contains a dark reddish brown sticky liquid. CNSL performs all of the typical phenol reactions, and CNSL aldehyde condensation products and CNSL-based phenolic resins are employed in a variety of applications including surface coatings and adhesives. CNSL and its derivatives have been utilized as antioxidants, plasticizers, and processing aids for rubber compounds, as well as modifiers for plastic materials and in sulphur-cured natural rubber products to give oxidative resistance. It's also added to rubber gum stock or nitrile rubber to increase the vulcanisates' processability, mechanical characteristics, and fracture and cut resistance. As a result of the growing use of CNSL as a substitute for unsaturated phenols, the global cashew nut shell liquid (CNSL) market is expected to grow throughout the forecast period.

The market's expansion is projected to be hampered by the volatility of raw material costs and the inconsistent availability of raw materials. The global cashew nut shell liquid (CNSL) market, on the other hand, has a substantial issue in the form of irregular raw material availability.

The pandemic has had a severe negative influence on the global Cashew Nut Shell Liquid (CNSL) industry, disrupting market dynamics and trends. The worldwide supply chains were harmed by the pandemic, which resulted in extreme price and demand instability. Industry analysts, on the other hand, predict that in the post-COVID situation, the global Cashew Nut Shell Liquid (CNSL) market would regain traction.