Phenol Derivatives Market to hit $67 billion by 2025: Global Market Insights, Inc.

Selbyville, Delaware, Nov. 07, 2019 (GLOBE NEWSWIRE) —

Global value is expected to surpass USD 67 billion by 2025, according to a new research report by Global Market Insights, Inc. Phenol is majorly used as precursor for formulating important industrial compounds. The chemical structure of phenol consist of closely bonded groups of hydroxy and phenyls owing to which its functional characteristics are similar to that of alcohol. Due to this it is also used for deriving commercial house care products in the form of base compound.

The extensive demand for phenolic resins for the production of circuit boards coupled with key characteristics of the product, such as remarkable heat resistance, dimension stability, and chemical resistance, will boost the phenol market size. The resin is used for producing adhesives, paints, plastics, coatings, and primers for automotive, construction, electrical, electronics, and aerospace sector. Myriad application scope of phenolic resins is anticipated to drive the overall market growth over the forecast period.    

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Bisphenol A is one of the major derivatives of phenol and is likely to grow at a moderate pace in the overall phenol derivatives market. Bisphenol A is one of the key building blocks used in the synthesis of plastics such as epoxy resins and polycarbonates. The growing demand for polycarbonates from automotive, construction, and electronic sectors owing to high functioning temperature and safety features will augment the overall industry size. Due to excellent insulating properties, polycarbonate is extensively used in various products associated with electrical and telecommunication hardware.    

Some major findings of the phenol derivatives market report include:

  • Application of phenol for deriving important commercial products including household care will propel its demand over the forecast period.
  • Phenol derivatives finds widespread application across various industries.
  • Phenolic resin will remain key derivative in overall phenol derivatives industry.
  • Automotive sector will remain most attractive demand hub for various phenol derivatives.
  • Enhanced production capabilities, efficient reaction mechanism, and lower operation cost will remodel industry landscape.
  • Favorable government policies and growth of key market segments such as construction, automotive, etc. in Asia Pacific will support regional growth.  

Artificial organs market by organ type is bifurcated into artificial kidney, artificial pancreas, artificial lungs, artificial liver, artificial heart and others such as limbs, small bowel etc. Artificial pancreas segment accounted for USD 352.6 million in 2018 and will witness significant growth during the analysis timeframe. Rising incidence of diabetes, excessive consumption of alcohol and family history of pancreatic disorders has led to chronic pancreatitis leading to dysfunction of pancreas. Therefore, growing number of patients in need of organ transplant for better functioning of the body will propel segmental growth over the coming years.

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Browse key industry insights spread across 600 pages with 440 market data tables & 9 figures & charts from the report, “Global Phenol Derivatives Market share By Product (Phenol, Bisphenol A [Polycarbonate {Automotive, Optical Media, Electronics, Construction, Others}, Epoxy Resins {Paints & Coatings, Marine, Electrical & Electronics, Construction, Others}, Others], Phenolic Resins [Wood Adhesives, Foundry & Moulding Compounds, Laminates, Insulation, Others], Caprolactam [Nylon Fiber {Textile Fiber, Industrial Yarn, Carpet}], Alkyl Phenol [Detergents, Additives], Adipic Acid [Nylon 66, Polyurethane and Others]) Industry Analysis Report, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2019– 2025” in detail along with the table of contents:

Asia Pacific dominated phenol derivatives market in 2018. Urbanization, increasing consumer spending on comfort, aesthetic appearance and functionality coupled with the rising disposable income has resulted in an increased demand for furniture, automobiles, household & industrial appliances, and agricultural equipment, which is expected to boost the regional market share growth. Key industry players have started shifting their manufacturing base to China. Many domestic companies also started investing in China, thus supporting the regional market share.

Companies operating in market are engaged in enhancing their production capabilities to proliferate their market presence. Regional support in form of tax incentives for of R & D investments, duty rationalization for raw materials and improved infrastructure are likely to support global and regional companies operating in market.

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Bisphenol A Market Forecasts 2025: Bisphenol A industry may witness gains on account of its usage in manufacturing of polycarbonate, which is a high-performance lightweight thermoplastic. The product is transparent in nature with multiple color variations, thereby finding application in eyewear as plastic lenses, Digital Disks (CDs, DVDs, and Blu-ray). Major players operating in this industry includes Teijin, Sunoco, Chemicals, SABIC Innovative Plastics, Mitsubishi Chemical Corporation, Olin Corporation, Kingboard Holdings, Chang Chun Plastics Co Ltd, Dow Chemical, Kumho P&B Chemicals, Vinmar International, Covestro AG, Hexion Inc., LG Chemical, Formosa Plastics, Nippon Steel & Sumikin Chemical Co Ltd, Nan Ya Plastics Corporation, Mitsui Chemicals, Samyang Innochem, Bayer Material Science and Rhodia Brasil.    

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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