Phenol Derivatives Market accounted for USD 6.7 billion in 2016 and is projected to grow at a CAGR of 5.9% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Phenol is a white and volatile chemical substance gained from coal tar. It is also called as carbolic acid and is in organic form and soluble in water. Its derivatives are beneficial in flavorings. Rising demand from end-use industries may act as the major driver in the growth of phenol derivatives market. On the other side, generation of hazardous waste during production of phenol may hamper the market.
Major Competitors in Phenol Derivatives Market
- The Dow Chemical Company
- SABIC, Mitsui Chemicals
- Honeywell International
- LG Chem
- KUMHO PETROCHEMICAL
- PTT Global Chemical Public Company Limited Solvay
- Chang Chun Group
- Versalis S.p.A.
- Taiwan Prosperity Chemical Corporation
- Automatic Control Department
- DOMO CHEMICAL
- allnex group
- Axiall Corporation
- Borealis AG and others.
The global phenol derivatives market is consolidated due to the presence of limited number of players concentrated in few countries. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
Segmentation of Phenol Derivatives Market
On the basis of raw material, global phenol derivatives market is segmented into silver, copper & alloys, and zinc. On the basis of technology, global phenol derivatives market is segmented into cumene peroxidation process, raschig process, toluene two stage oxidation process, and sulphonation process. On the basis of derivative, the global phenol derivatives market is segmented into bisphenol-a, phenolic resin, caprolactam, alkylphenol, and other derivatives. The bisphenol-a segment is further sub segmented into polycarbonate, epoxy resin. The polycarbonate segment is further sub segmented into optical media, automotive, and electrical & electronic appliances. The epoxy resin is further sub segmented into marine, can coating, and others. The phenolic resin segment is further sub segmented into bakelite, and others. The bakelite segment is further sub segmented into coating industry, and adhesives. The caprolactam segment is further sub segmented into nylon fiber. The nylon fiber segment is further sub segmented into textile/fabric, and industrial yarn. The alkylphenol segment is further sub segmented into detergents, and additives. The other derivatives segment is further sub segmented into aminophenol, and cresol. The aminophenol segment is further sub segmented into dye, and pharmaceutical drugs. The cresol segment is further sub segmented into antioxidants, and pesticides.
Major Market Drivers:
- Increasing demand from Asia-Pacific region
- Rising demand from end-use industries
- Growth in wind energy sector
- Generation of hazardous waste during production of phenol