Phenol Derivatives Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2025

Author : Ravi Chawat | Published Date : 2022-01-27 

Phenol Derivatives Market is expected to exceed USD 67 billion by 2025.

Some major findings of the phenol derivatives market report include:

  • Application of phenol for deriving important commercial products including household care will propel its demand over the forecast period.
  • Phenol derivatives finds widespread application across various industries.
  • Phenolic resin will remain key derivative in overall phenol derivatives market.
  • Automotive sector will remain most attractive demand hub for various phenol derivatives.
  • Enhanced production capabilities, efficient reaction mechanism, and lower operation cost will remodel industry landscape.
  • Favorable government policies and growth of key market segments such as construction, automotive, etc. in Asia Pacific will support regional growth.

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Phenol is majorly used as precursor for formulating important industrial compounds. The chemical structure of phenol consist of closely bonded groups of hydroxy and phenyls owing to which its functional characteristics are similar to that of alcohol. Due to this it is also used for deriving commercial house care products in the form of base compound.

The extensive demand for phenolic resins for the production of circuit boards coupled with key characteristics of the product, such as remarkable heat resistance, dimension stability, and chemical resistance, will boost the phenol market. The resin is used for producing adhesives, paints, plastics, coatings, and primers for automotive, construction, electrical, electronics, and aerospace sector. Myriad application scope of phenolic resins is anticipated to drive the overall market growth over the forecast period.

Bisphenol A is one of the major derivatives of phenol and is likely to grow at a moderate pace in the overall phenol derivatives market. Bisphenol A is one of the key building blocks used in the synthesis of plastics such as epoxy resins and polycarbonates. The growing demand for polycarbonates from automotive, construction, and electronic sectors owing to high functioning temperature and safety features will augment the overall industry size. Due to excellent insulating properties, polycarbonate is extensively used in various products associated with electrical and telecommunication hardware.

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Asia Pacific dominated phenol derivatives market in 2018. Urbanization, increasing consumer spending on comfort, aesthetic appearance and functionality coupled with the rising disposable income has resulted in an increased demand for furniture, automobiles, household & industrial appliances, and agricultural equipment, which is expected to boost the regional market share growth. Key industry players have started shifting their manufacturing base to China. Many domestic companies also started investing in China, thus supporting the regional market share.

Companies operating in market are engaged in enhancing their production capabilities to proliferate their market presence. Regional support in form of tax incentives for of R & D investments, duty rationalization for raw materials and improved infrastructure are likely to support global and regional companies operating in market.

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About Author

Ravi Chawat

Ravi Chawat

Ravi Chawat holds a bachelor's degree in Electronics and Telecommunication Engineering. He has worked closely with industry specialists from different segments including chemicals, food and beverages, construction and manufacturing & energy and power. Ravi's article concentrates principally on balancing relevant data but never at the expense of making the content engaging. He believes in giving fair-minded information to guide significant business choices. [email protected] | https://twitter.com/RaviChawat

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