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The global phenol market size reached US$ 20.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 28.7 Billion by 2027, exhibiting a growth rate (CAGR) of 5.37% during 2022-2027.
Phenol is an aromatic organic compound with the chemical formula C6H5OH. It is a toxic, colorless crystalline solid which is commonly used as a disinfectant and antiseptic. As compared to other hydrocarbons with a similar molecular weight, it is more soluble in water due to its stronger hydrogen bonding. It is majorly used for manufacturing household products like detergents; as an intermediate or precursor for synthesizing several chemical compounds; and as a derivative in the production of nylon, herbicides, epoxies and cosmetics.
IMARC Group provides an analysis of the key trends in each sub-segment of the global phenol market report, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on end-use.
Breakup by End-Use:
Bisphenol A (BPA) currently represents the largest segment, accounting for the majority of the total market share. BPA finds vast applications in the production of epoxy resins and polycarbonate which are further used for manufacturing food and beverage containers, medical devices, electronic equipment, household appliances and automotive parts.
On a geographical front, Asia Pacific enjoys the leading position in the market on account of the increasing production and consumption of phenol in China. Besides this, a rise in the purchasing power of the consumers has escalated investments in the chemical, automotive and construction industries, thereby fueling the market growth.
The market is fragmented with the presence of several large and small manufacturers who compete in terms of quality and prices. Some of the biggest players operative in the market are:
|Base Year of the Analysis||2021|
|Units||US$ Billion, Million Tons|
|Segment Coverage||End-Use, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Companies Covered||Ineos Phenol, Cepsa Quimica, Mitsui Chemicals, Formosa Chemicals and Fibers, and Kumho P & B Chemicals|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|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)|
The global phenol market reached a value of US$ 20.8 Billion in 2021.
The introduction of new catalysts and improved production technologies to enhance yield, ensure safety, and optimize overall costs represents one of the major trends in the market.
The market is currently experiencing a negative impact on account of the rapid spread of the coronavirus disease (COVID-19) and consequent lockdowns imposed by governments of several countries, which has resulted in a labor shortage, supply chain disruptions and limited availability of raw materials.
The increasing utilization of phenol in the industrial processes as a cleaner, intermediate and raw material is bolstering the market growth.
According to the estimates by IMARC Group, the global phenol market is expected to exhibit a CAGR of 5.37% during 2022-2027.
Based on the end-use, the market has been classified into bisphenol A (BPA), phenolic resins, caprolactam, alkyl phenyls and others.
On the geographical front, the market has been segmented into Asia Pacific, Europe, North America, Latin America, and Middle East and Africa.
Leading industry players are Ineos Phenol, Cepsa Quimica, Mitsui Chemicals, Formosa Chemicals and Fibers, and Kumho P & B Chemicals.
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