Phenol Market Analysis, Growth Rate and Forecast, 2014 to 2025
The global phenol market size was USD 11.75 billion in 2016 and is expected to grow on account of its commercial viability and rising demand for its derivatives such as epoxy resins, polycarbonates, nylon, Bakelite, detergents, phenolic resins, pharmaceutical drugs and herbicides.
(firmenpresse) - The global phenol market is anticipated to reach USD 31.73 billion by 2025, driven by the rising demand for derivatives such as epoxy resins, polycarbonates, nylon, phenolic resins, detergents and pharmaceuticals. These derivatives are important intermediates for manufacturing an extensive range of industrial products and are expected to boost the market over the forecast period.
Asia Pacific had the highest market share in terms of revenue and volume and is expected to maintain its position over the forecast period. Furthermore, China and India have been driving the regional market owing to the increased consumption of the derivatives, produced from phenol to manufacture industrial products. Asia Pacific market is expected to grow at a CAGR of 4.9% over the projected period. Europe and North America are likely to grow at a steady state as a result of stringent government norms to use this product as it is toxic and harmful to the environment.
Bisphenol-A dominated the market accounting for 48.8% of the volume share in 2016. It is one of the major derivatives used to produce polycarbonates and epoxy resins. Moreover, growing importance in the use of sustainable energy owing to rising crude oil prices is expected to drive the demand for epoxy resins. These are thermosets that have an exclusive blend of chemical resistance, toughness and strong adhesion. It is used as a coating application in wind turbine rotor blades, electrical equipment, steel pipes and metal cans & containers.
However, phenolic resins are the fastest growing segment in terms of both volume and revenue share. These are synthetic polymers and are used for making molded products such as laboratory countertops, billiard balls and as adhesives & coatings which are anticipated to fuel the market over the forecast period.
There is a huge competition among the established players and companies have to comply with environmental regulations implemented by the EPA and European Commission. The presence of a stringent regulatory framework is expected to increase the entry barriers for new players.
The majority of the companies in the field enter into a joint venture agreement with other manufacturers and distributors to expand its presence and meet the requires demand in the particular regions. The leading players operating in the phenol market include INEOS Phenol, Mitsui Chemicals, Aditya Birla Chemicals, PTT Phenol, CEPSA Quimica, Shell Chemical, LG Chem, Honeywell Resins & Chemicals, Shandong Sheng Quan Chemicals Co. Ltd., and SABIC Innovative Plastics.
Hexa Research has segmented the global phenol market based on end-use and region:
Segmentation by end use, 2014 - 2025 (Kilo Tons) (USD Million)
Segmentation by region, 2014 - 2025 (Kilo Tons) (USD Million)
& South America
& Africa
Key players analyzed
& Chemicals
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
Ryan Shaw
Hexa Research
Felton Office Plaza
6265 Highway 9
Felton, California 95018
United States
Phone: +1-800-489-3075
Email: sales(at)hexaresearch.com
Website - https://www.hexaresearch.com
Datum: 26.06.2018 - 08:10 Uhr
Sprache: Deutsch
News-ID 1537728
Anzahl Zeichen: 3843
contact information:
Contact person: Ryan Shaw
Town:
Felton
Phone: +1-800-489-3075
Kategorie:
Petrochemicals
Typ of Press Release: Finanzinformation
type of sending: Veröffentlichung
Date of sending: 26.06.2018
Anmerkungen:
Diese Pressemitteilung wurde bisher 1253 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Phenol Market Analysis, Growth Rate and Forecast, 2014 to 2025
"
steht unter der journalistisch-redaktionellen Verantwortung von
Hexa Research (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
