What is the global market size of Resorcinol Market?

Resorcinol Market size was valued at USD 6.5 billion in 2021 and is poised to grow from USD 6.7 billion in 2022 to USD 8.56 billion by 2030, growing at a CAGR of 3.1% in the forecast period (2023-2030).

Who are the key vendors in the Global Resorcinol Market?

In this competitive market, companies strive to differentiate themselves through product quality, performance, and reliability. The development of advanced manufacturing processes and technologies plays a vital role in maintaining a competitive edge. Manufacturers invest in research and development activities to enhance the properties and functionalities of Resorcinol-based products, catering to the evolving needs of end-users across different industries. 'Sumitomo Chemical Co., Ltd. (Japan)', 'Indspec Chemical Corporation (US)', 'Atul Ltd. (India)', 'Alfa Aesar (US)', 'Sinopec Shanghai Petrochemical Company Limited (China)', 'Mitsui Chemicals, Inc. (Japan)', 'Chemtura Corporation (US)', 'Deepak Nitrite Limited (India)', 'Yantai Wanhua Polyurethanes Co., Ltd. (China)', 'Dow Chemical Company (US)', 'Ineos Group Limited (UK)', 'Lanxess AG (Germany)', 'Hebei Smart Chemicals Co., Ltd. (China)', 'Changzhou Sunchem Pharmaceutical Chemical Material Co., Ltd. (China)', 'Jiangsu Tianxin Chemical Co., Ltd. (China)', 'Jiangsu Yinyan Specialty Chemicals Co., Ltd. (China)', 'Sigma-Aldrich Co. LLC (US)', 'Camlin Fine Sciences Ltd. (India)', 'Indspec Chemical Limited (UK)', 'Shanghai Lianheng Isocyanate Co., Ltd. (China)'

Resorcinol Market Size, Share, Growth Analysis, By Production Method(Benzene Disulfonation, Hydroperoxidation of Meta-Diisopropylbenzene), By Application (Tire and Rubber Products, Wood Adhesives and Binders), By End-Use(Automotive, Building and Construction, Healthcare, Electrical and Electronics, Others) By Region - Industry Forecast 2025-2032

Report ID: SQMIG15E2265 | Region: Global | Published Date: November, 2024
Pages: 157 | Tables: 66 | Figures: 75

Resorcinol Market News

In March 2023, INDSPEC Chemical Corporation announced the expansion of its resorcinol production capacity in the United States. The company is investing $10 million in the expansion, which is expected to be completed by the end of 2023. The expansion will increase the company's resorcinol production capacity by 50%.

In February 2023, Sumitomo Chemical Co. announced the development of a new process for the production of resorcinol. The new process is more efficient and environmentally friendly than traditional methods. Sumitomo Chemical is currently in the process of commercialising the new process.

In January 2023, Aldon Corporation announced the launch of a new line of resorcinol-based products for the wood adhesives market. The new products are designed to offer improved performance and durability. Aldon Corporation is targeting the construction and furniture industries with the new products.

In December 2022, AminoChem announced the acquisition of Jay Organics, a leading manufacturer of resorcinol. The acquisition will give AminoChem a major foothold in the global resorcinol market. AminoChem plans to use Jay Organics' production facilities to expand its resorcinol production capacity.

In November 2022, Atul Ltd. announced the launch of a new line of resorcinol-based products for the flame retardants market. The new products are designed to offer improved fire resistance. Atul Ltd. is targeting the automotive and electrical industries with the new products.

Resorcinol Market Report Snapshots

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Resorcinol Market size was valued at USD 6.7 billion in 2022 and is poised to grow from USD 6.9 billion in 2023 to USD 8.81 billion by 2031, growing at a CAGR of 3.1% in the forecast period (2023-2031).

In this competitive market, companies strive to differentiate themselves through product quality, performance, and reliability. The development of advanced manufacturing processes and technologies plays a vital role in maintaining a competitive edge. Manufacturers invest in research and development activities to enhance the properties and functionalities of Resorcinol-based products, catering to the evolving needs of end-users across different industries. 'Kautschuk Group ', 'Kraeber & Co GmbH ', 'Sumitomo Chemical Co., Ltd. ', 'Atul Ltd. ', 'Sinopec Shanghai Petrochemical Company Limited ', 'Mitsui Chemicals, Inc. ', 'Deepak Group ', 'Wanhua Chemical Group Co.,Ltd ', 'Dow Inc. ', 'Ineos Group ', 'Lanxess AG ', 'Hebei Smart Chemicals Co., Ltd. ', 'Changzhou Sunchem Pharmaceutical Chemical Material Co., Ltd. ', 'Wuxi Lansen Chemicals ', 'Camlin Fine Sciences Ltd. ', 'Thermo Fisher Scientific ', 'Merck KGaA ', 'Shanghai Amino-Chem Co. Ltd. ', 'Bridgestone Corp. ', 'Jiangsu Yinyan Specialty Chemicals Co., Ltd.'

Resorcinol finds extensive usage in the pharmaceutical industry, specifically in the production of antiseptics, antifungal creams, and topical medications. The expanding pharmaceutical sector, driven by factors like population growth, rising healthcare expenditure, and advancements in medical treatments, is creating a surge in the demand for resorcinol. This growth is fueled by the need for effective and safe pharmaceutical products to cater to the growing healthcare needs of the population.

Increasing Demand from Automotive Industry: Resorcinol, a versatile compound, is extensively used in the production of adhesive systems that provide excellent bonding strength and durability in tire manufacturing. The growing automotive sector, coupled with the rising demand for fuel-efficient and high-performance tires, is driving the need for Resorcinol. Additionally, the expanding middle-class population and increased vehicle ownership in emerging economies further contribute to the demand for Resorcinol in tire production.

North America holds a significant share in the Resorcinol market due to several factors. The region has well-established industries such as chemicals, pharmaceuticals, and rubber, which are major consumers of Resorcinol. The presence of key market players, technological advancements, and strong research and development capabilities contribute to the dominance of North America. Additionally, stringent regulations and standards regarding product quality and safety drive the demand for high-quality Resorcinol in various applications.

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