PUBLISHER: ChemAnalyst | PRODUCT CODE: 963716
PUBLISHER: ChemAnalyst | PRODUCT CODE: 963716
Global Phenol market was valued USD 12.5 Million in 2020 and is forecast to reach USD 20.07 Million by 2030, growing at a CAGR of 4.9% until 2030. Phenol is an aromatic compound containing a hydroxyl group. It is derived from cumene which is manufactured from Propylene and benzene. Cumene is oxidized to form cumene peroxide which further gives phenol and its byproduct acetone. Globally phenol is consumed majorly in BPA. Major applications for BPA come from polycarbonate and epoxy resins. Polycarbonates are widely used in electronics, Automotive, optical, etc. industries whereas epoxy resins are widely used in paint & coating industry. Phenol is also used in producing Phenolic / Formaldehyde resin, which is further used in furniture, laminates, etc.
Increasing purchasing power of consumers would create a need for higher consumption of Phenol and Phenol-based derivatives in electronics industry. As the market paces again, the major country in leading demand for phenol will be China due to strong demand growth from downstream industry, currently China constitutes around one-third of Phenol demand in APAC region. Furthermore, the global impositions of the sustainable energy for the rising crude oil cost and increasing demand of epoxy resins for the wind turbine power generators is anticipated to aid to the growth of the global phenol market in the next forecast years. Sudden onset of the global pandemic COVID-19 has created a domino effect and weakened the demand of Phenol for current and upcoming year. Most of the major manufacturers are either shutdown or running at less than 50% of their capacity utilization. However, after the end of this pandemic situation market will try to recover and all Phenol and related down streaming markets will show a recovering pattern in demand. Moreover, rapid industrialization and infrastructural investments across major economies are further likely to create a strong demand for Phenol from 2021-2030. With the increased applications of the phenol in the phenolic resins, pharmaceutical drugs, and detergents among other applications is expected to differ from the historical period records. With the growth of the healthcare industry and rising awareness about the industrial strength detergents, the market is expected to strengthen its stand in the next 10 years.
Phenol consumption is reportedly the highest in APAC and will be the fastest growing region among all due to establishment of many polycarbonates-based application downstream units in this region in recent years. Phenol's multi-faceted application across several industries is expected to push demand for the product to unprecedented levels during the forecast period.
Historical Years: 2015 - 2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022 - 2030
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Global economic slowdown impacted Phenol price in 2020 causing it to dip sharply in 1st quarter of 2020. Because of outbreak of COVID-19 pandemic, demand for Phenol in downstream will dip sharply and will start increasing gradually in upcoming year. This sudden dip in demand has caused Phenol CFR 960 - 955. However, prices increased significantly from October 2020 onwards,China price to hover between USD to USD 1400 to 1600 MT in 2021. Similarly, Phenol prices in Europe and the Americas will strengthened swiftly. Prices in the international market are likely to continue keep rolling downwards till the 3rd Quarter of the year after which, the rate of increase might even out gradually.
Cepsa Corporation, Kumho shell, PTTGC., Formosa Chemicals and Fibre Corporation., Taiwan Prosperity Chemical Corp (TPCC)., Deepak Nitirite Ltd., LG Chem, Mitsui Chemicals Inc., DOW Chemicals, Sabic Innovative Plastics, Shell are some of the leading players operating in the Global Phenol market.
To extract data for Global Phenol market, primary research surveys were conducted with Phenol manufacturers, suppliers, distributors, wholesalers, and end users. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end user segments and projected a positive outlook for Global Phenol market over the coming years.
ChemAnalyst calculated Phenol global demand by analyzing the historical data and demand forecast was carried out considering Propylene and crude oil prices. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
The study is useful in providing answers to several critical questions that are important for industry stakeholders, such as Phenol manufacturers, distributors, importers and end users. The report also provides useful insights about which market segments should be targeted over the coming years to strategize investments and capitalize on growth opportunities.
In this report, the Global Phenol market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Market, by End Use: Bisphenol A, Phenolic Resin, nylon, others
Market, by Sales Channel: Direct/Institutional Sales, Indirect Sales
Market, by Region: North America, APAC, Europe, MEA, South America
Market, by Region
North America- United States, Mexico, Canada
APAC- China, India, Japan, South Korea, Thailand, Taiwan, Malaysia, Australia
Europe- Germany, France, Russia, Italy, United Kingdom, Spain, Turkey
MEA- Saudi Arabia, UAE, South Africa, Egypt
South America- Brazil, Colombia
With the given market data, ChemAnalyst offers customizations according to a company's specific needs.
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