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*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Phenol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025

The global phenol market was worth US$ 22.1 Billion in 2019. 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. Looking forward, IMARC Group expects the global phenol market to exhibit moderate growth during 2020-2025.

Market Drivers:

  • Phenol finds applications as an industrial cleaner for machinery parts and electronic devices; as a starting material for plastics and explosives such as picric acid; as a raw material in the manufacturing of drugs and antioxidants; as a basic material in wood preservatives such as creosote; for making intense colored dyes; and in everyday products such as mouthwash, liquid detergents, inks, floor cleaners and disinfectants.
  • Rapid economic development around the world has majorly contributed to construction activities in the residential and commercial domains. Since phenolic resins are used in the production of plywood, laminated beams and flooring panels, this has boosted the market growth. 
  • Phenolic resins find applications in the manufacturing of thermosetting plastics which are further utilized in the production of electrical components such as electron tubes, insulators and sockets. Apart from this, paper phenolics are employed for manufacturing household laminates and paper composite panels; and glass phenolics are used in the high-speed bearing market.
  • Over the past decade, improvements have been made in phenol production technology. New catalysts and processes have been commercialized for manufacturing cumene via alkylation of benzene with propylene. Recent process design innovations have further been used for the cumene hydroperoxide route that remains the preferred method for its manufacturing. These efforts have been directed at enhancing yield and improving process costs and safety for the preparation of phenol in order to meet the growing global demand.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global phenol market report, along with forecasts for growth at the global, regional and country-level from 2020-2025. Our report has categorized the market based on region, and end-use.

Breakup by End-Use:

  • Bisphenol A
  • Phenolic Resins
  • Caprolactam
  • Alkyl Phenyls
  • Others

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.

Regional Insights:

  • Asia Pacific
  • Europe
  • North America
  • Middle East and Africa
  • Latin America

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.

Competitive Landscape:

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:

  • Ineos Phenol
  • Cepsa Quimica
  • Mitsui Chemicals
  • Formosa Chemicals and Fibers
  • Kumho P & B Chemicals

Key Questions Answered in This Report:

The global phenol market was worth around US$ 22.1 Billion in 2019.

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 will exhibit steady growth during the next five years.

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 AG, Cepsa Quimica SA, Mitsui Chemicals, Inc. and Formosa Chemicals & Fiber Corporation.

1   Preface
2   Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1 Overview
    4.2 Physical and Chemical Properties
    4.3 Key Industry Trends
5   Global Phenol Industry
    5.1 Market Overview
    5.2 Market Performance
        5.2.1 Volume Trends
        5.2.2 Value Trends    
    5.3 Price Analysis
        5.3.1 Key Price Indicators
        5.3.2 Price Structure
        5.3.3 Price Trends
    5.4 Market Breakup by Region
    5.5 Market Breakup by End-Use
    5.6 Market Forecast
    5.7 SWOT Analysis
        5.7.1 Overview
        5.7.2 Strengths
        5.7.3 Weaknesses
        5.7.4 Opportunities
         5.7.5 Threats
    5.8 Value Chain Analysis
        5.8.1 Raw Material Procurement
        5.8.2 Manufacturing
        5.8.3 Distribution
        5.8.4 Exports
        5.8.5 End-Use
    5.9 Porter’s Five Forces Analysis
        5.9.1 Overview
        5.9.2 Bargaining Power of Buyers
        5.9.3 Bargaining Power of Suppliers
        5.9.4 Degree of Competition
        5.9.5 Threat of New Entrants
        5.9.6 Threat of Substitutes
    5.10 Trade Data
        5.10.1 Imports
        5.10.2 Exports
    5.11 Key Market Drivers and Success Factors
6   Performance of Key Regions
    6.1 Asia Pacific
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2 Europe
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3 North America
        6.3.1 Market Trends
        6.3.2 Market Forecast
    6.4 Middle East and Africa
        6.4.1 Market Trends
        6.4.2 Market Forecast
    6.5 Latin America
        6.5.1 Market Trends
        6.5.2 Market Forecast
7   Market by End-Use
    7.1 Bisphenol A
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2 Phenolic Resins
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3 Caprolactam
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4 Alkyl Phenyls
        7.4.1 Market Trends
        7.4.2 Market Forecast
    7.5 Others
        7.5.1 Market Trends
        7.5.2 Market Forecast
8   Competitive Landscape
    8.1 Competitive Structure
    8.2 Production Capacities of Key Players
    8.3 Profiles of Key Players
        8.3.1 INEOS Phenol
        8.3.2 Cepsa Quimica Sa
        8.3.3 Mitsui Chemicals
        8.3.4 Formosa Chemicals & Fiber
9   Phenol Manufacturing Process
    9.1 Product Overview
    9.2 Chemical Reactions Involved
    9.3 Manufacturing Process
    9.4 Detailed Process Flow
    9.5 Raw Material Requirement
    9.6 Mass Balance and Feedstock Conversion Rates
10  Phenol Feedstock Market Analysis
    10.1 Benzene
        10.1.1 Market Performance
 Volume Trends
 Value Trends
        10.1.2 Price Trends
        10.1.3 Market Breakup by Region
        10.1.4 Market Breakup by End-Use
        10.1.5 Key Suppliers
    10.2 Propylene
        10.2.1 Market Performance
   Volume Trends
   Value Trends
        10.2.2 Price Trends
        10.2.3 Market Breakup by Region
        10.2.4 Market Breakup by End-Use
        10.2.5 Key Suppliers

List of Figures

Figure 1: Global: Phenol Market: Major Drivers and Challenges
Figure 2: Global: Phenol Market: Volume Trends (in Million Tons), 2014-2019
Figure 3: Global: Phenol Market: Value Trends (in Billion US$), 2014-2019
Figure 4: Global: Phenol Market: Average Price Trends (in US$/Ton), 2014-2019
Figure 5: Global: Phenol Market Forecast: Average Price Trends (in US$/Ton), 2020-2025
Figure 6: Phenol Market: Price Structure (in US$/Ton)
Figure 7: Global: Phenol Market: Breakup by Region (in %), 2019
Figure 8: Global: Phenol Market: Breakup by End-Use (in %), 2019
Figure 9: Global: Phenol Market Forecast: Volume Trends (in Million Tons), 2020-2025
Figure 10: Global: Phenol Market Forecast: Value Trends (in Billion US$), 2020-2025
Figure 11: Global: Phenol Industry: SWOT Analysis
Figure 12: Global: Phenol Industry: Value Chain Analysis
Figure 13: Global: Phenol Industry: Porter’s Five Forces Analysis
Figure 14: Global: Phenol Market: Import Volume Breakup by Country (in %)
Figure 15: Germany: Phenol Market: Import Volume Trend (in ‘000 Tons), 2017
Figure 16: Global: Phenol Market: Export Volume Breakup by Country (in %)
Figure 17: Belgium: Phenol Market: Export Volume Trend (in ‘000 Tons), 2017
Figure 18: Asia Pacific: Phenol Market (in ‘000 Tons), 2014 & 2019
Figure 19: Asia Pacific: Phenol Market Forecast (in ‘000 Tons), 2020-2025
Figure 20: Europe: Phenol Market (in ‘000 Tons), 2014 & 2019
Figure 21: Europe: Phenol Market Forecast (in ‘000 Tons), 2020-2025
Figure 22: North America: Phenol Market (in ‘000 Tons), 2014 & 2019
Figure 23: North America: Phenol Market Forecast (in ‘000 Tons), 2020-2025
Figure 24: Middle East and Africa: Phenol Market (in ‘000 Tons), 2014 & 2019
Figure 25: Middle East and Africa: Phenol Market Forecast (in ‘000 Tons), 2020-2025
Figure 26: Latin America: Phenol Market (in ‘000 Tons), 2014 & 2019
Figure 27: Latin America: Phenol Market Forecast (in ‘000 Tons), 2020-2025
Figure 29: Global: Phenol Market: Bisphenol A (in ‘000 Tons), 2014 & 2019
Figure 30: Global: Phenol Market Forecast: Bisphenol A (in ‘000 Tons), 2020-2025
Figure 31: Global: Phenol Market: Phenolic Resins (in ‘000 Tons), 2014 & 2019
Figure 32: Global: Phenol Market Forecast: Phenolic Resins (in ‘000 Tons), 2020-2025
Figure 33: Global: Phenol Market: Caprolactam (in ‘000 Tons), 2014 & 2019
Figure 34: Global: Phenol Market Forecast: Caprolactam (in ‘000 Tons), 2020-2025
Figure 35: Global: Phenol Market: Alkyl Phenyls (in ‘000 Tons), 2014 & 2019
Figure 36: Global: Phenol Market Forecast: Alkyl Phenyls (in ‘000 Tons), 2020-2025
Figure 37: Global: Phenol Market: Other Uses (in ‘000 Tons), 2014 & 2019
Figure 38: Global: Phenol Market Forecast: Other Uses (in ‘000 Tons), 2020-2025
Figure 39: Phenol Manufacturing: Detailed Process Flow
Figure 40: Phenol Manufacturing: Conversion Rate of Feedstocks
Figure 41: Global: Benzene Market: Volume Trends (in Million Tons), 2014-2019
Figure 42: Global: Benzene Market: Value Trends (in Million US$), 2014-2019
Figure 43: Global: Benzene Market: Average Price Trends (in US$/Ton), 2014-2019
Figure 44: Global: Benzene Market: Breakup by Region (in %)
Figure 45: Global: Benzene Market: Breakup by End-Use (in %) 
Figure 46: Global: Propylene Market: Volume Trends (in Million Tons), 2014-2019
Figure 47: Global: Propylene Market: Value Trends (in Million US$), 2014-2019 
Figure 48: Global: Propylene Market: Average Price Trends (in US$/Ton), 2014-2019
Figure 49: Global: Propylene Market: Breakup by Region (in %)
Figure 50: Global: Propylene Market: Breakup by End-Use (in %)

List of Tables

Table 1: Phenol: Physical Properties
Table 2: Phenol: Chemical Properties
Table 3: Global: Phenol Market: Key Industry Highlights, 2019 and 2025
Table 4: Global: Phenol Market Forecast: Breakup by Region (in ‘000 Tons), 2020-2025
Table 5: Global: Phenol Market Forecast: Breakup by End-Use (in ‘000 Tons), 2020-2025
Table 6: Global: Phenol Market: Competitive Structure
Table 7: Global: Phenol Market: Key Players
Table 8: Global: Phenol Market: Imports by Major Countries
Table 9: Global: Phenol Market: Exports by Major Countries
Table 10: Global: Phenol: Capacities of Major Manufactures (in Tons)
Table 11: Phenol Manufacturing process: Raw Materials Requirements
Table 12: Phenol Manufacturing process: Chemical Reactions Involved 
Table 13: Global: Benzene and Propylene Major Suppliers

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