Resorcinol Market Size to Grow by $ 70.40 mn through 2020-2024 | Forecast and Trend Analysis

Technavio has been monitoring the resorcinol market and it is expected to grow by $ 70.40 mn, accelerating at a CAGR of almost 3% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking

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Resorcinol Market: Emerging Trends to Impact Market Growth

Increasing applications of wood bonding adhesives to emerge as a key trend in the industrial resorcinol market. This report provides a detailed analysis of all the trends that are likely to influence the growth of individual segments within the market as well as the overall market in focus. This analysis will enable clients to assess their play in the market and plan for growth opportunities.

Resorcinol Market: Vendor Analysis

The market is concentrated due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Akrochem Corp., Alfa Aesar, Atul Ltd., Dynea AS, Kraeber & Co. GmbH, Merck KGaA, Mubychem Group, Occidental Petroleum Corp., Sumitomo Chemical Co. Ltd., and Thermo Fisher Scientific Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio custom reports provide market insights at the global and regional level along with a pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations.

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Technavio has been monitoring the Global Resorcinol Market and it is expected to grow by USD 70.40 million progressing at a CAGR of almost 3% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. Download latest version with COVID-19 analysis Free Sample Report

APAC: China and Japan to drive market growth

APAC will offer several growth opportunities to market vendors during the forecast period. 72% of the market growth will originate from APAC during the forecast period. China and Japan are the key markets for resorcinol in APAC. Factors such as the increasing need for safe tires, increasing applications of wood bonding adhesives, and increased use of value-added paints, coatings, and dye products will offer immense growth opportunities. This report provides an accurate prediction of the contribution of all the geographic segments to the growth of the resorcinol market size.

The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. 

Resorcinol Market: Vendor Analysis

The market is concentrated. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Akrochem Corp., Alfa Aesar, Atul Ltd., Dynea AS, Kraeber & Co. GmbH, Merck KGaA, Mubychem Group, Occidental Petroleum Corp., Sumitomo Chemical Co. Ltd., and Thermo Fisher Scientific Inc.are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19 Download a Free Sample Report 

Resorcinol Market: Key Highlights of the Report for 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive Resorcinol Market growth during the next five years
• Precise estimation of the Resorcinol Market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the resorcinol industry across APAC, Europe, MEA, North America, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of Resorcinol Market vendors