Phenol Market - Segmentation Analysis and Forecasts by Technavio
According to the latest market study released by Technavio, the global phenol market is expected to grow at a CAGR of more than 3% during the predicted period.
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Technavio has published a new report on the global phenol market from 2017-2021. (Graphic: Business Wire)
This research report titled ‘Global Phenol Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
APAC was the fastest growing market for phenol in 2016 and is expected to grow during the forecast period. The demand for phenol is primarily driven by the increasing population and urbanization in the region, which foster the demand for electronics and automotive goods. In China, the demand for phenol is expected to rise during the forecast period.
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Technavio’s analysts categorize the global phenol market into four major segments by derivative type. They are:
- Bisphenol A
- Phenolic resins
- Nylon-KA oil
- Others
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The top three segments based on the derivative type of the global phenol market are discussed below:
Global phenol market by BPA
BPA is a colorless, solid, synthetic compound which is soluble in organic solvents. It is used in epoxy resins and plastics. BPA-based plastics are clear and durable; they are used in a variety of common consumer goods such as sports equipment, water bottles, compact disc (CDs), and Digital Versatile Disc (DVDs). BPA based epoxy resins are used in water pipes as inside coatings.
According to Hitesh Bhatia, a lead specialty chemicals research analyst from Technavio, “BPA is extensively used in the polymer industry. It is used as a binding agent in many industries as a protective coating to various metals. BPA in the automotive industry is used in the form of polycarbonate, which helps to reduce greenhouse emissions and improves fuel efficiency. The use of light weight polycarbonate in automotive window glazing helps in improving fuel efficiency.”
Global phenol market by phenolic resins
Phenolic resins (phenol formaldehyde resins, 2-methoxy-6-methyl phenol) are the synthetic polymers that are obtained by the polymerization of formaldehyde and phenol. Phenolic resins are resistant to acids, water, and organic solvents. These are used especially in the molded and laminated products, adhesives, and coatings.
“Phenolic resins are found in many applications such as molded products to coatings and adhesives; these phenolic resins are used for different applications across various end-use industries such as automotive, electrical and electronics, construction, and others. Phenolic resins are used for different applications such as billiard balls, coatings, and adhesives,” says Hitesh.
Global phenol market by nylon-KA oil
Nylon-KA oil is used as the main feedstock to produce adipic acid and caprolactam. In the manufacturing process of cyclohexanone, the oxidation of cyclohexane is carried out using cobalt catalysts. The process co-forms cyclohexanol that is an organic compound, which is a deliquescent, colorless solid with a camphor-like odor.
Adipic acid is an industrial dicarboxylic acid that is used mainly in the production of nylon. It is also used in some calcium carbonate antacids to make them tart. It has a tart taste and is used as an additive or gelling agent in gelatins. Adipic acid is a white crystalline solid; it is insoluble in water. It is used to make foams, plastics, and others.
The top vendors highlighted by Technavio’s research analysts in this report are:
- INEOS Group Holdings
- Mitsui Chemicals
- PTT Global Chemical
- Royal Dutch Shell
- Solvay
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