Home » Chemicals » Phenol Market Research – Anticipated To Experience Significant Growth In Future

The phenol market is witnessing momentous growth. This is owing to the use of phenol in cosmetics, such as sunscreen, skin lightening and hair coloring. Phenol is also known as carbolic acid. It is a building block for nylon, detergents, epoxies, pharmaceuticals drugs and herbicides.

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The largest derivative of phenol market includes BPA (bisphenol-A). Other derivatives include caprolactam and phenolic resins. These two have registered more than 70 percent of the global demand in 2010. However, the major restraints for the market include volatility in the prices of feedstock and low demand for polycarbonates from optical media.

The phenol market can be segregated into applications, consumers and geographies. The applications market can be divided into polycarbonates, bakelite, epoxy resins, detergents, nylon, phenolic resins, herbicides and pharmaceuticals drugs. Polycarbonates captured the largest market share and are likely to grow in the future. This is due to the high utilization of polycarbonates in manufacturing industries.

The phenol market, on the basis of consumers, can be segmented into caprolactum, pheonlic resins and bisphenol. Bisphenol has captured over half of the global market and is expected to grow extensively over the coming years. Geographically, the phenol market is categorized into four key regions such as, North America, Europe, Asia Pacific and ROW (rest of the world).

Asia Pacific was the largest market. This region’s China was reported to be the largest producer and consumer of phenol and phenol derivatives. The North American and European markets are growing sluggishly and likely to report similar trends over the forecast period. This is due to strict legislations imposed on the phenol market by these governments.

Phenol Market Research

Information Source: Grand View Research