Research Expert: Sarah Overall
  • Published: Feb 2025
  • Pages: 150
  • SKU: IRTNTR41158

  • Phenol Market Growth 2024-2028: Industry Trends, Key Players, and Regional Insights

    The phenol market is projected to grow by USD 4.3 billion from 2024 to 2028, expanding at a CAGR of 3.3%. The market growth is driven by increasing applications across multiple industries, including construction, pharmaceuticals, electronics, and plastics. Phenol is a key raw material in the production of phenolic resins, bio-based phenol, disinfectants, mouthwash, detergents, floor cleaners, antioxidants, colored dyes, and explosives. Despite market expansion, challenges such as regulatory restrictions on phenol-based toys in the EU and price fluctuations of raw materials pose constraints.

    Global Phenol Market 2024-2028

    For more details about the industry, get the PDF sample report for free

    Market Segmentation

    By Derivative Type

    • BPA
    • Phenolic resins
    • Nylon-KA oil
    • Others

    By Geography

    • APAC
      • China
      • South Korea
    • Europe
      • Germany
    • North America
      • US
    • South America
    • Middle East and Africa

    Derivative Type Insights

    BPA Segment Growth

    The BPA segment is expected to experience significant growth due to its application in plastics, coatings, and epoxy resins. BPA-based plastics are known for their clarity and durability, making them widely used in sports equipment, water bottles, compact discs, and digital versatile discs.

    In the automotive sector, phenol-based epoxy resins are used in water pipe coatings and polycarbonate applications to enhance fuel efficiency and reduce greenhouse gas emissions.

    Market Dynamics

    Drivers

    • Increasing Application of Phenol Across Industries
      • Used in cool refineries, resin paints, textile production, and dyes
      • Essential in abrasives, adhesives, flame retardants, and fuel additives
      • Demand for polycarbonate plastics, epoxy resins, and automotive components

    Trends

    • EU Regulations on Phenol-Based Toys
      • The EU Directive (EU) 2017/774 limits phenol content in toys, impacting manufacturers of PVC-based and water-based liquid toys.
      • Manufacturers are shifting toward alternative materials to comply with safety standards.

    Challenges

    • Price Fluctuations of Phenol
      • Raw material volatility (benzene and propylene) affects phenol pricing.
      • Price instability impacts anti-corrosive primers, construction materials, and automotive production.

    Get more details by ordering the complete report

    Key Players

    • Honeywell International Inc
    • Aditya Birla Management Corp. Pvt. Ltd.
    • AdvanSix Inc.
    • ALTIVIA
    • Compania Espanola de Petroleos SA
    • Covestro AG
    • Deepak Nitrite Ltd.
    • Domo Chemicals GmbH
    • Dow Inc.
    • Essential Industries Inc.
    • Formosa Chemicals and Fibre Corp.
    • Honeywell International Inc.
    • INEOS Group Holdings S.A.
    • Jinan Shengquan Group Share Holding Co Ltd
    • Kumho Petrochemical Co. Ltd.
    • LG Chem Ltd.
    • Mitsubishi Chemical Group Corp.
    • Mitsui Chemicals Inc.
    • PTT Global Chemical Public Co. Ltd.
    • Shell plc
    • Solvay SA

    Future Market Insights

    The phenol market is expected to maintain steady growth, driven by expanding construction activities, increasing demand for bio-based phenol, and its role in multiple industries. Regulatory challenges, raw material price volatility, and sustainability initiatives will shape future market dynamics.

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