Resorcinol Market Size, Share, Growth Analysis, By Type(Industrial Grade Resorcinol, Pharmaceutical Grade Resorcinol, Specialty Grade Resorcinol and Others.), By Application(Rubber, Wood Adhesives, UV Stabilizers, Dyes and Pigments), By Region - Industry Forecast 2024-2031

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).

The increasing automotive industry, particularly in emerging economies, is fueling the demand for rubber-based products, thereby driving the demand for resorcinol. Resorcinol-based dyes are widely used in the textile industry for colouring fabrics. The expanding textile industry, driven by increasing consumer demand for apparel and home furnishings, is expected to propel the demand for resorcinol-based dyes. In the pharmaceutical sector, resorcinol finds applications in dermatology and topical medications. Its antiseptic and anti-inflammatory properties make it a key ingredient in various pharmaceutical products, such as ointments, creams, and lotions. Geographically, the global resorcinol market can be segmented into regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Asia Pacific is anticipated to dominate the market due to the presence of major end-use industries, such as rubber and textiles, in countries like China and India.

US Resorcinol Market is poised to grow at a sustainable CAGR for the next forecast year.