Home > Chemicals & Materials > Specialty Chemicals > Custom Synthesis > Phenol Derivatives Market
Phenol Derivatives Market Size
Phenol Derivatives Market size exceeded USD 45 billion, globally in 2018 and is estimated to grow at over 5.4% CAGR between 2019 and 2025.
Phenol is an aromatic white crystalline compound with closely bonded groups of phenyls and hydroxy. It is majorly utilized as precursor for formulating important industrial compounds such as plastics and related materials. The chemical structure of the compound is closely related to alcohol owing to which certain properties are similar to that of alcohols such as solubility in water and high boiling point.
The compound is also acidic which makes it highly toxic and caustic in nature, so it needs to be handled carefully to avoid chemical burns It is also used in the form of base compounds for synthesis of numerous commercial products such as epoxies, nylon, detergents and polycarbonates. The organic nature of the product further helps in formulating important organic chemicals which will indirectly fuel product sales over the forecast period. The demand is driven by surge in household products manufacturing, such as floor coverings, foam settings, and bedding products, will further augment the phenol derivatives market scope.
Phenol is further separated into different derivatives such as bisphenol A, phenolic resins, caprolactam, alkylphenol, and adipic acid. These derivatives are used as major precursors for producing industrial grade chemicals, plastics, epoxy resins, etc. Technological advancements in manufacturing have enabled efficient reaction mechanism, lower operational cost, and enhanced production capabilities among the key phenol derivatives market players.
| Report Attributes | Details |
|---|---|
| Base Year: | 2018 |
| Market Size in 2018: | USD 45.79 Billion |
| Forecast Period: | 2019 to 2025 |
| Forecast Period 2019 to 2025 CAGR: | 5.4% |
| 2025 Value Projection: | USD 67.05 Billion |
| Historical Data for: | 2014 to 2018 |
| No. of Pages: | 600 |
| Tables, Charts & Figures: | 440 |
| Segments covered: | Product, Derivatives, Application, Region |
| Growth Drivers: |
|
| Pitfalls & Challenges: |
|
Phenol Derivatives Market Analysis
Phenolic resins constitute a major share in phenol derivatives market. The product is largely used as a base material for the synthesis of Bakelite, a synthetic plastic known for its insulation property. It is also extensively used for manufacturing molded products such as laboratory countertops, billiard balls and as adhesives and coatings. The resin is largely used across automotive, furniture, construction, electronic and electrical as a precursor or as an additive. Positive prospects in decorative laminates and the wood-adhesives industry are likely to build a strong support platform for phenolic resins over the forecast period.
Phenolic resins for commercial applications are available in customized additive and filler combinations, for example, with fiberglass and carbon fiber reinforcement, tailored to the requirements of specific end-use industries. The increasing use of materials, which carry fire retardant, heat-resistant, and anti-corrosive properties for the industrial purpose acts as a major driving force in the market. Owing to its thermostable properties, phenolic resins have gained increased penetration where hazards of fire, smoke, and toxic release are prominent.
Bisphenol is used as a key raw material in formulating polycarbonate which is extensively used throughout the automotive industry. Several components of automobiles such as tail lamps, headlights, sunroofs, windows and various other car parts consists of polycarbonate material. Also, phenolic resin, one of the key derivative is widely used for brake linings, insulation foams and composites for automotive industry.
Caprolactam derived from phenol is used to formulate engineering resins, nylon 6 fibers and films. The product demand is increasing across automotive sector as engineering resin is rapidly gaining traction as it is replacing metals for constructing outdoor frames. This has reduced weights of vehicles owing to which fuel efficiency and performance has improved. These applications of phenol cater to growing automobile industry need for light weight vehicles with higher fuel efficiency and performance.
Asia pacific is the largest phenol derivatives market and accounted for over 45% market share in 2018. Major economies of the region such as China, India, Japan, and Thailand are seeing high growth rate owing to factors such as duty rationalization for raw materials, tax incentives for R&D investments, and improved infrastructure. Continuous government support via numerous revised regulations & policies along with the rapid development of the transportation of infrastructure will enhance the application scope in the market.
Surplus amount of investments from foreign investors is being invested across petroleum, chemicals, and petrochemical industries which will drive the impelling market across this region. Factors such as presence of abundance of raw materials for producing phenol and its derivatives and expansion of manufacturing unit are further likely to support the phenol derivatives market advancement.
Phenol Derivatives Market Share
Companies operating in the phenol & its derivatives market are adopting various strategies such as production capacity expansion, for enhancing market share in global phenol and its derivatives market. For instance, in July 2018, BASF announced to expand its production capacity for IRGANOX 1010 to cater to the growing market in Asia Pacific. Other strategies adopted by industry participants include new product development, strategic partnerships, collaborations, mergers and acquisitions. Some of the major companies operating in the market are
- BASF
- Covestro AG
- Bayer Material Science, PTT
- Mitsubishi Corporation
- Aditya Birla Chemicals
- Shandong Sheng Quan Chemicals Co. Ltd.
The phenol derivatives market research report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in Kilo Tons and revenue in USD million from 2014 to 2025, for the following segments:
Click here to Buy Section of this Report
Phenol Derivatives Market By Product
- Phenol
- Bisphenol A
- Phenolic resins
- Caprolactam
- Alkyl Phenol
- Adipic Acid
- Others
- Bisphenol A
- Polycarbonate
- Automotive
- Optical Media
- Electronics
- Construction
- Others (Appliances, medical, safety, sports, packaging)
- Epoxy Resin
- Paints & Coatings
- Marine
- Electrical & Electronics
- Construction
- Others (Adhesives and composite materials)
- Others (Polyester & polyacrylic resins, additives, PVC)
- Polycarbonate
- Phenolic Resins
- Wood Adhesives
- Foundry & Moulding Compounds
- Laminates
- Insulation
- Others (Abrasives, friction materials, coatings)
- Caprolactam
- Nylon Fiber
- Textile fabric
- Industrial Yarn
- Carpet
- Resins & films
- Nylon Fiber
- Alkyl Phenol
- Detergents
- Additives
- Adipic Acid
- Nylon 66
- Polyurethane
- Others (Adipic Esters, Plasticizers, Others)
The above phenol derivatives market information has been provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- APAC
- China
- India
- Japan
- South Korea
- Taiwan
- Thailand
- LAMEA
- Brazil
- Argentina
- Mexico
- MEA
- Saudi Arabia
- UAE
- South Africa
Frequently Asked Questions (FAQ) :