Global Phenol Derivatives Market to Experience Significant Growth during the Forecast Period 2018-2028

Posted on 2019-01-04 by Mark Hub in Chemicals // 0 Comments

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Growth in global phenol market is mainly due to the increasing demand for phenol in various manufacturing industries across the world. Holistic growth in the end use industries, such as, electronics, coating, chemicals, etc. are expected to be major drivers for the growth of phenol derivative market in the forecast period. Growing chemical industry growth output is expected to have a positive effect on the Global Phenol Derivatives Market. Moreover, growth in various moulded products for the automotive industry is expected to create significant opportunity for the global phenol derivative manufacturers in between the forecast period.

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Chemicals have been attracting interest since decades by various end use industries across the world, Phenol is a chemical that is used on a large scale by manufacturers. Phenol is an organic compound and consists of the hydroxyl group which is attached to aromatic hydrocarbon group. Phenol is also known as carbolic acid or phenic acid and has white crystalline solid in nature. It is an important commodity for industrial application in several end use industries. Derivatives are also a part of the chemical reaction and are derived from similar compounds through reaction. Phenol derivatives are an important class of aromatic compounds and are used in a variety of the compounds, synthesized by the ruthenium catalysis pattern. Several phenolic derivatives are manufactured from phenol for several applications, such as, in flavors, perfumes, etc. All phenol derivative are manufactured synthetically. The solubility of the phenol derivatives is significant for larger molecules, whereas it is volatile for smaller molecules the solubility is volatile.

Among phenol derivative, Bisphenol segment is expected to hold more than one- third of the market value and volume share in between the forecast period. Volatility in the basic raw material prices is expected to hamper the growth of phenol derivatives market. Degradation of phenol derivatives is difficult for manufacturers as compared to other derivatives and has also proven to be harmful for human beings.

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Due to its toxic nature, the application of phenol derivatives is banned in some countries which may be expected to create a challenge for the growth of the phenol derivatives in the forecast period. Manufacturers are focusing towards sustainable and eco-friendly products for the future, bio-based derivatives are expected to gain popularity in the near future among the end use consumers.

Regional perspective for the phenol derivative market will plays vital role in the growth of the phenol derivatives market in the forecast period. The North America region is expected to be one of the key growing markets for phenol derivatives over the forecast period. On the basis of the countries, U.S. is expected to be prominent in the North America region owing to the growth in population that is expected to create a lucrative demand for end use industry in the developing economy. In Asia Pacific, China is gaining traction as a manufacturer hub for various end use industries, such as, automobile, chemical, electronic goods, etc. which is creating a significant demand for the phenol derivatives over the forecast period. Phenol manufacturers will Rapid rapidly expand in major economies, namely, India, Japan and South Korea. Also, the growing demand from sustainable renewable energy sector, such as, wind energy, is also expected to contribute in growth of the phenol derivatives market in the long term.

Some of the key players of the phenol derivative market are Mitsui Chemicals, LG Chemical Ltd, Honeywell International, INEOS, Arsol Aromatics, Midas Pharma, Royal Dutch Shell, Rheinmetall Waffe Munition, KUMHO PETROCHEMICAL, The Dow Chemical Company

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