Phenol Market Size, Trends and Forecast Report to 2027
According to the latest report by IMARC Group, titled “Phenol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,”The global phenol market size reached US$ 20.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 28.7 Billion by 2027, exhibiting a growth rate (CAGR) of 5.37% during 2022-2027.
Phenol (C₆H₅OH) is a white crystalline solid, organic compound that is highly volatile in nature. It is more soluble in water than alcohol and has a higher boiling point. Phenol is produced by the reaction of propene and benzene using an acid catalyst. It is primarily used in medical procedures and as an ingredient in numerous treatments and laboratory applications, including phenol injection, vaccine prevention, chemical matrixectomy, sore throat spray, and oral analgesics, among others. Phenol is also used as a derivate in the production of household products, epoxies, nylon, herbicides, and cosmetics, and as an intermediate for synthesizing chemical compounds.
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Global Phenol Market Trends:
The growing product demand across the farming and animal husbandry industries as a fungicide and disinfectant represents one of the key factors providing an impetus to the market growth. In line with this, the surging demand for phenol as an industrial cleaner for electronic devices and machinery and the rising demand for phenol derivatives for use in various applications are accelerating the market growth. Additionally, the shifting focus on the utilization of sustainable energy due to increasing prices of crude oil has surged the need for epoxy resins, which is boosting the market growth. Apart from this, significant improvements in phenol production technology, rapid industrialization, and the increasing construction activities are factors positively supporting the market growth.
Phenol Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the phenol market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
Ineos Phenol
Cepsa Quimica
Mitsui Chemicals
Formosa Chemicals and Fibers
Kumho P & B Chemicals
Key Market Segmentation:
The report has segmented the global phenol market on the basis of end-use and region.
Breakup by End-Use:
Bisphenol A
Phenolic Resins
Caprolactam
Alkyl Phenyls
Others
Regional Insights:
Asia Pacific
Europe
North America
Middle East and Africa
Latin America
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Key Highlights of the Report:
Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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