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Will the rising demand for polycarbonates affect phenol derivatives market trends?

Author : Ravi Chawat | Published Date : 2020-11-03 

Phenol has bisphenol A as one of its prime derivatives which is slated to observe a decent demand within phenol derivatives market size. Bisphenol A is known as one of the main building blocks that is usually used in the synthesis of various plastics like polycarbonates and epoxy resins.

Polycarbonates boast high safety and functioning temperature properties that have resulted in massive demand from the electronic, construction and automotive sectors. Rapidly growing construction, automotive and consumer electronic segments will boost phenol derivatives market forecast. Polycarbonate also has a wide use across different products that are related to telecommunication and electrical hardware owing to superior insulating features.

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There has been a high production of circuit boards that have demanded phenolic resins as they exhibit main characteristics like dimension stability, chemical resistance and outstanding heat resistance that will change the business outlook. The resins are essentially used to produce paints, coatings, primers, adhesives and plastics for the construction, electronics, aerospace, automotive and electricals sectors.

Major industry players that have been operating in the market are working to enhance their production capabilities to expand their presence in the phenol derivatives market. These companies have obtained both regional and global support through tax incentives for research and development, improved infrastructure and rationalization of raw materials.

With the rapid urbanization and increasing disposable income at hand, there has been a notable rise in consumer spending on goods, with functionality, aesthetic appearance and comfort impacting their decisions. There has also been an ostensible increase in the demand for automobiles, agricultural equipment, furniture as well as household and industrial appliances that inadvertently fueled the regional growth.

Major industry players have begun moving there manufacturing base over to China. There have also been several domestic firms that are consistently investing in China which is further supporting the regional industry. Asia Pacific had reportedly dominated phenol derivatives market size in the year 2018.

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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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