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Phenol Market Share, Size, Key Players, Outlook and Forecasts to
2025 | Hexa Research
“ The global phenol market is anticipated to reach USD 31.73 billion by 2025.”
2 January 2019
The global phenol market is anticipated to reach USD 31.73 billion by 2025, driven by the rising demand for
derivatives such as epoxy resins, polycarbonates, nylon, phenolic resins, detergents and pharmaceuticals.
These derivatives are important intermediates for manufacturing an extensive range of industrial p roducts
and are expected to boost the market over the forecast period.
Asia Pacific had the highest market share in terms of revenue and volume and is expected to maintain its
position over the forecast period. Furthermore, China and India have been driving the regional market owing
to the increased consumption of the derivatives, produced from phenol to manufacture industrial products.
Asia Pacific market is expected to grow at a CAGR of 4.9% over the projected period. Europe and North
America are likely to grow at a steady state as a result of stringent government norms to use this product as
it is toxic and harmful to the environment.
Bisphenol-A dominated the market accounting for 48.8% of the volume share in 2016. It is one of the major
derivatives used to produce polycarbonates and epoxy resins. Moreover, growing importance in the use of
sustainable energy owing to rising crude oil prices is expected to drive the demand for epoxy resins. These
are thermosets that have an exclusive blend of chemical resistance, toughness and strong adhesion. It is used
as a coating application in wind turbine rotor blades, electrical equipment, steel pipes and metal cans &
containers.
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