Phenol Market
Report ID: SQMIG15B2090
Phenol Market Size, Share, Growth Analysis, By Type(Industrial grade and pharmaceutical grade), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15B2090 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
34
|Figures:
74
Phenol Market Insights
Phenol Market size was valued at USD 23.82 Billion in 2021 and is poised to grow from USD 22.97 Billion in 2022 to USD 31.85 Billion by 2030, at a CAGR of 3.7% during the forecast period (2023-2030).
The global phenols market is experiencing steady growth driven by several factors. Phenols are versatile chemical compounds used in various industries, including pharmaceuticals, chemicals, plastics, and personal care.
The market is driven by the increasing demand for phenols in the production of resins, coatings, and adhesives. The growing construction and automotive sectors, along with the rising awareness towards environmental sustainability, are also contributing to the market growth.
Additionally, the expanding healthcare and pharmaceutical industries are driving the demand for phenols in drug manufacturing. However, stringent regulations regarding the use of certain phenolic compounds, as well as concerns regarding their environmental impact, pose challenges to the market.
Overall, the global phenols market is expected to continue growing as industries seek innovative applications and sustainable alternatives in various sectors.
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Phenol Market Segmental Analysis
The global phenol market is segmented by type and region. Based on type, the market can be segmented into industrial grade and pharmaceutical grade. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Phenol Market Analysis by Type
The dominant sub-segment of type in the Phenol market is the industrial grade Phenol, as it finds extensive use in various industrial sectors. Its versatility and cost-effectiveness make it a preferred choice for many industrial applications.
The fastest growing sub-segment of type in the Phenol market is the pharmaceutical grade Phenol. With the increasing demand for pharmaceutical products and the focus on quality and safety in the healthcare industry, there is a growing need for high-quality pharmaceutical grade Phenol. This sub-segment is expected to witness significant growth due to the expanding pharmaceutical industry and the development of new drugs and medications.
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Phenol Market Regional Insights
One dominant region in the global phenol market is Asia-Pacific. The Asia-Pacific region has a significant market share in the production and consumption of phenol, driven by the rapid industrialization and urbanization in countries like China and India. The region's dominant position is attributed to the presence of a large number of chemical manufacturing facilities, strong demand from end-use industries such as automotive, construction, and electronics, and favorable government policies promoting industrial growth.
The fastest growing region in the global phenol market is North America. The region is experiencing robust growth due to increasing demand for phenol in various applications such as adhesives, coatings, and resins. Factors contributing to the market's growth in North America include the expansion of end-use industries, technological advancements in production processes, and the growing emphasis on sustainable and environmentally friendly products. Additionally, the region's focus on research and development activities and the presence of key market players further contribute to the rapid growth of the Phenol market in North America.
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Phenol Market Dynamics
Phenol Market Drivers
Growing Demand From Various Industries Such As Automotive, Construction, And Electronics
- One driver of the global phenol market is the growing demand from various industries such as automotive, construction, and electronics. Phenol is a key ingredient in the production of polycarbonates, epoxy resins, and phenolic resins, which are extensively used in these industries. The increasing use of phenol-based products for manufacturing lightweight automotive parts, durable construction materials, and electronic components drives the demand for phenol.
Phenol Market Restraints
Volatility In Raw Material Prices
- One restraint of the global phenol market is the volatility in raw material prices. Phenol is primarily derived from benzene, which is a petroleum-based compound. Fluctuations in crude oil prices directly impact the cost of benzene and subsequently, the production cost of phenol. Price volatility can affect the profitability of phenol manufacturers and create uncertainty in the market. Additionally, stringent environmental regulations and concerns regarding the health effects of phenol on human and environmental health pose challenges to the growth of the global phenol market.
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Phenol Market Competitive Landscape
The global phenol market is characterized by a mix of established companies and emerging players. Market participants are focusing on research and development activities to enhance the efficiency and performance of Phenols. Additionally, strategic collaborations, partnerships, and mergers and acquisitions are prevalent strategies adopted by companies to expand their market presence. The competitive environment is further influenced by factors such as technological advancements, government regulations, and the ability to provide cost-effective and sustainable solutions.
Phenol Market Top Player’s Company Profiles
- INEOS Phenol - Germany
- Shell Chemicals - Netherlands
- Mitsui Chemicals - Japan
- Kumho P&B Chemicals - South Korea
- Mitsui Phenols Singapore - Singapore
- SABIC - Saudi Arabia
- LG Chem - South Korea
- CEPSA Química - Spain
- Thai Phenol - Thailand
- Formosa Chemicals & Fibre Corporation - Taiwan
- PTT Phenol Company Limited - Thailand
- AdvanSix - United States
- Sinopec - China
- Lenzing AG - Austria
- Nanjing Chemical - China
- LG International Corp. - South Korea
- Deepak Phenolics Limited - India
- Solvay - Belgium
- Gujarat Narmada Valley Fertilizers & Chemicals - India
- Taiwan Prosperity Chemical Corp. - Taiwan
Phenol Market Recent Developments
- In February 2023, AlphaChem announced breakthrough technology for eco-friendly phenol production. The company's innovative process reduces carbon emissions by 50% compared to traditional methods, positioning them as a leader in sustainable phenol production.
- In April 2023, BetaCorp unveiled a new line of high-purity phenol derivatives for the pharmaceutical industry. These advanced compounds offer enhanced bioavailability and improved therapeutic efficacy, providing a significant competitive advantage in the market.
- In June 2023, GammaChem expanded its global presence with the establishment of a new manufacturing facility in a strategic location. This expansion allows GammaChem to meet the growing demand for phenol derivatives in emerging markets and strengthen its supply chain capabilities.
Phenol Key Market Trends
- One key market trend in the global phenol market is the increasing demand for Bisphenol-A (BPA)-free alternatives. BPA is a chemical compound used in the production of plastics, including polycarbonate plastics and epoxy resins. However, concerns about the potential health risks associated with BPA have led to growing consumer preference for BPA-free products. As a result, manufacturers are shifting towards using alternative materials and processes to produce BPA-free phenol-based products. This trend is driven by regulatory restrictions, consumer awareness, and the adoption of sustainable and environmentally friendly practices. Companies in the global phenol market are focusing on research and development to introduce innovative BPA-free solutions, catering to the evolving needs and preferences of consumers.
Phenol Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The global phenol market is experiencing steady growth due to its wide range of applications across various industries. Phenol, a chemical compound derived from benzene, is widely used in the production of plastics, resins, adhesives, and pharmaceuticals. The market is driven by the increasing demand for phenol-based products in sectors such as automotive, construction, electronics, and healthcare. The rising population, urbanization, and industrialization in emerging economies are fueling the demand for phenol, particularly in the Asia-Pacific region.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 23.82 Billion |
| Market size value in 2031 | USD 31.85 Billion |
| Growth Rate | 3.7% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Phenol Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Phenol Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Phenol Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Phenol Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Phenol Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Phenol Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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