Global Phenol Market to Grow at 3.8% During 2025-2033, Stimulated by Advancements in Production Technology

January 21, 2025 | Chemical & Materials

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As per the latest report by IMARC Group, titled “Phenol Market Report by End-Use (Bisphenol A, Phenolic Resins, Caprolactam, Alkyl Phenyls, and Others), and Region 2025-2033,” the global phenol market reached a value of USD 24.4 Billion in 2024. Also known as benzenol, phenol (C₆H₅OH) is an aromatic organic compound that is volatile and highly toxic in nature. It is more soluble in water and has a higher boiling point and acidity as compared to alcohol. It was earlier sourced from coal tar but is nowadays produced using petroleum. As phenol and its derivatives play an essential role in the production of epoxies, nylon, herbicides, polycarbonates and detergents, its demand is escalating around the world.

Global Phenol Market Trends:

The market has experienced significant changes in recent years due to technological advancements in the phenol production process. These advancements have improved the yield and safety and reduced processing costs. Moreover, on account of its antiseptic and disinfectant properties, phenol is being utilized as an industrial cleaner for machines and electronic equipment. It is also used as a raw material in the manufacturing of drugs and intense colored dyes and everyday products, such as inks, floor cleaners and liquid detergents. Apart from this, rapid economic growth and increasing construction activities in the residential and commercial sectors are strengthening the growth of the market. However, the market growth is being negatively impacted on account of lockdowns imposed by governments of several countries, which have resulted in the unavailability of labor, supply chain disruptions, and limited availability of raw materials. The market is expected to grow once normalcy is regained. Looking forward, the market value is projected to reach USD 34.7 Billion by 2033, expanding at a CAGR of 3.8% during 2025-2033.

Market Summary:

Based on the end-use, the market has been segmented into bisphenol A (BPA), phenolic resins, caprolactam, alkyl phenyls and others. At present, BPA exhibits a clear dominance in the market. It is utilized in the production of epoxy resins and polycarbonate, which are further employed in the manufacturing of medical devices, automotive parts, electronic equipment, household appliances, and food and beverage containers.
Region-wise, Asia Pacific enjoys the leading position in the market. Other major regions include the North America, Europe, Latin America, and Middle East and Africa.
The competitive landscape of the market has been examined in the report, with some of the key players being INEOS Phenol Gmbh, CEPSA Química S.A. (Compañía Española de Petróleos S.A.U.), Mitsui Chemicals Inc., Formosa Chemicals & Fibre Corporation, Kumho P & B Chemicals Inc. (Kumho Petrochemical Co. Ltd.) and Shell Chemicals (Shell plc).

Report Scope:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD, Million Tons
Segment Coverage	End-Use, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered	INEOS Phenol Gmbh, CEPSA Química S.A. (Compañía Española de Petróleos S.A.U.), Mitsui Chemicals Inc., Formosa Chemicals & Fibre Corporation, Kumho P & B Chemicals Inc. (Kumho Petrochemical Co. Ltd.) and Shell Chemicals (Shell plc)
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Phenol Market to Grow at 3.8% During 2025-2033, Stimulated by Advancements in Production Technology

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