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Phenol Derivatives Market anticipated to witness healthy CAGR over 2017-2024

Author : Ronak Bora | Published Date : 2019-05-13 

The Phenol Derivatives Market study focuses major leading industry players with information such as company profiles, product picture and specification, capacity, production, price, cost, revenue and contact information. It provides information on trends and developments, and focuses on markets and materials, capacities and technologies, and on the changing structure.

Phenol Derivatives Market size is anticipating gains in forecast time period owing to its extensive usage in food & drink packaging, compact disc, medical devices and impact resistant safety equipment. These are the chemical compounds that are used in household product that include cleaners, mouthwash and intermediates for industrial synthesis. They are even used in first surgical antiseptic and is currently utilized in anesthesia.

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Pharmaceutical industry has grown at over 5% that is driving phenol derivatives market. The compound is widely used in medicinal products to relieve pain caused by sore throat. These are consumed in aspirin, pacemaker for hip joint replacement and cataract lenses. Increasing usage of the compound in drugs and medical devices will surge its demand in next seven years.

Personal care industry’s robust growth of more than 40% in the last 5 years has raise the usage of the product in skin care cosmetics. Consumption pattern of skin and hair care products in teenagers is substantially boosting. Men and Women are equally contributing in the growth of these components. These compounds are used in various creams and lotion to remove discoloration on skin. Growing consumer awareness towards skin treatment ointments will positively influence phenol derivatives market in forecast period.

Increasing consumption of the compounds in manufacturing surfactants, detergents and emulsifiers has boosted phenol derivatives market. Growing residential activities has raised the need of cleaning agents. Detergents are used in huge quantity frequently for washing, this factor increase demand for emulsifiers and drives phenol derivatives market.

Challenges faced by the compound is its side effects on human health. Excessive usage of the compound can lead to difficulty in breathing, fever, headache, swelling, vomiting, nausea and can worsen pain, redness and irritation around the mouth. Growing consumer awareness towards ill effect of the product is hindering its demand.

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North America, led by the U.S. is world’s most important pharmaceutical hub. It contributes over 35% in the global pharmaceutical industry and hosts top companies that include Pfizer, Johnson & Johnson, Roche, Sanofi, Novartis, and Actavis. The products are widely consumed in medicines and medical devices. Rising pharmaceutical industry is expected to drive phenol derivatives market in the region.

Prominent manufacturers in phenol derivatives market are LG Chem, Mitsui Chemicals, Honeywell International Inc., CEPSA, INEOS, Rheinmetall Waffe Munition GmbH, Arsol Aromatics GmbH, Schutz & CO. GmbH., Midas Pharma GmbH, Royal Dutch Shell and Ter Hell Plastic. Companies are emphasizing on research and development of the element to attain maximum market share.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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