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The North America phenol market reached a volume of 2 Million Tons in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 4.4% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Phenol, or C6H5OH, is an aromatic compound, which occurs in a white crystalline form at room temperature. Due to a strong hydrogen bonding, it is more soluble in water than alcohol and has higher boiling points as compared to other hydrocarbons with similar molecular weight. Currently, phenol finds many applications in household products and as a precursor or an intermediate for the synthesis of many chemical compounds and industrial materials.
The North America phenol market is being driven by several factors. The escalating demand for phenol as an industrial cleaner for machineries and electronic devices has propelled the market growth in the region. In addition to this, it is largely used for the preparation of mouthwash, liquid detergents, dyes and inks, floor cleaners, and disinfectants. Apart from this, the increasing demand for phenol in the pharmaceutical industry for producing various drugs and antioxidants further catalyzes market growth in the region. Also, rapid construction of roads, highways, pools, individual houses, office buildings and shopping arcades has led to a growth in the demand for phenol.
IMARC Group provides an analysis of the key trends in each sub-segment of the North America phenol market report, along with forecasts for growth at the regional and country level from 2021-2026. Our report has categorized the market based on end-use.
|Base Year of the Analysis||2020|
|Segment Coverage||End-Use, Country|
|Countries Covered||United States, Canada|
|Customization Scope||10% Free Customization|
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