The global resorcinol market is expected to reach USD 580.3
million by 2025, according to a new report by Grand View Research, Inc. Strong
demand from sectors such as construction and automobiles and the development of
novel products is expected to benefit the market demand.
Regarding application, rubber
products dominated the segment and at an anticipated CAGR of 2.8% from 2017 to
2025. Resorcinol is widely used in the tire manufacturing and as an adhesive.
The chemical provides excellent adhesive properties and can be used to bind
synthetic as well as metal materials. These advantages coupled with the growth
of the automotive industry is expected to favor market growth over the next
eight years.
Resorcinol, as well as its
derivatives, have the ability to form organic compounds that possess a UV
absorbing functional group. This property makes resorcinol based derivatives to
be used as UV absorbers in a wide variety of application such as coatings, and
paints. The rising demand for UV absorbers across the globe is expected to
benefit the overall demand over the forecast period.
The chemical is used to
manufacture pharmaceutical products, flame retardants, fungicidal creams &
lotions, and agriculture chemicals. The broad application portfolio has
benefitted the chemical demand in the recent past, and this scenario is
expected to continue over the next eight years.
Major industry participants have
adopted optimized manufacturing processes and dedicated refining processes to
provide high-quality resorcinol. Also, companies provide different grades of the
product to suit the application needs of the customers. Companies are trying to
optimize their production processes to obtain a high grade of the product.
U.S. resorcinol market revenue
by application, 2014 - 2025 (USD Million)
Browse full research report on
Resorcinol Market
Further key findings from
the report suggest:
- The global
resorcinol demand was 59.0 kilo tons in 2016 and is expected to grow at a
CAGR of 2.9% over the next eight years
- Rubber
products was the largest application segment in 2016 and is expected to be
worth USD 296.4 million by 2025
- Wood adhesive
application segment is anticipated to grow at a forecasted CAGR of 3.0%
from 2017 to 2025
- Resorcinol-formaldehyde
resins are used to wood binding applications to address issues such as
room temperature cure, and structural integrity. The usage of the resin
also imparts waterproof characteristics to the applied wood surface
- Industry
participants include Dynea, Sumitomo Chemical, Atul Ltd, Sigma-Aldrich,
AminoChem among others.
About Grand View Research,
Inc:
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more information: http://www.grandviewresearch.com
No comments:
Post a Comment