The Cresol Market report further sheds light on the emerging growth opportunities, challenges, market threats, limitations, and factors likely to restrict the growth of the Cresol Market. The report further discusses in detail the market in international waters and the emerging trends in those regions. It also offers insights into the competitive landscape, market drivers, industrial scenario, and the latest product and technological developments to offer a comprehensive overview of the Cresol Market landscape.
The global cresol market size was USD 327.6 Million in 2021 and is expected to register a revenue CAGR of 3.5% during the forecast period, according to latest analysis by Emergen Research. Rising demand for cresol to produce agrochemicals pesticides is a key factor driving market revenue growth.
Ortho cresol derivatives are mostly used in agrochemical and pesticide industries and considered a key component in agrochemicals. Growing concerns about crop protection and pest control are creating a high demand for agrochemical products. The industry is booming in recent years due to growing need to defend against crop losses and boost yields and increase consumer demand for sustainably produced food. In 2021, China launched 14th Five-Year Plan (FYP) for development of the agrochemical industry from 2021 to 2025.
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Some Key Highlights from the Report
- The para-cresol segment accounted for largest revenue share in 2021 due to rising adoption of para-cresol in food, cosmetic, and pharmaceutical industries. It is mainly used to make butylated hydroxytoluene, which is an antioxidant used in cosmetic, food, and pharmaceutical industries. Growing development of end-use industries creates high demand for para-cresol and is expected to drive revenue growth of this segment.
- The chemical segment is expected to account for a significantly large revenue share over the forecast period due to rising adoption of cresol as a variety of chemical intermediates. Cresols are aromatic monomethyl phenolic organic compounds used as chemical intermediates in production of plasticizers, polymer resins, and antioxidants. Rising development of the chemical industry across the globe is expected to drive revenue growth of this segment.
- The Asia Pacific market accounted for the largest revenue share in the global cresol market in 2021 due to growing adoption of cresols for production of pesticides and other agrochemicals in countries across the region, especially in China and India. In February 2022, for instance, India's biggest cresol producer Atul Ltd. announced an increase in para Cresol manufacturing capacity from 28,000 to 36,000 tons per year due to high demand for this product in this country.
The latest report is the most recent study that offers 360° coverage of the Cresol industry that has been facing the brunt of the adverse economic impact of the COVID-19 outbreak since the beginning of this year. The global health crisis has affected nearly every aspect of the business vertical and led to massive disruptions to the global Cresol market demand and supply chains. Researchers draw predictions for the market scenario in the post-COVID era. The report, additionally, assesses the present market situation and estimates its future outcomes, keeping in mind the impact of the pandemic on the global economic landscape.
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Emergen Research has segmented the global cresol market based on product type, source, application, end-use, and region:
- Product Type Outlook (Revenue, USD Million, Volume, Kilo Tons; 2019-2030)
- Source Outlook (Revenue, USD Million, Volume, Kilo Tons; 2019-2030)
- Application Outlook (Revenue, USD Million, Volume, Kilo Tons; 2019-2030)
- Chemical Intermediates
- End-Use Outlook (Revenue, USD Million, Volume, Kilo Tons; 2019-2030)
- Paints Coating
This section of the report offers valuable insights into the geographical segmentation of the Cresol market, alongside estimating the current and future market valuations based on the demand-supply dynamics and pricing structure of the leading regional segments. Furthermore, the growth prospects of each segment and sub-segment have been meticulously described in the report.
The report classifies the global Cresol market into various regions, including:
- North America (U.S., Canada)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Middle East Africa (Saudi Arabia, the U.A.E., South Africa, Rest of MEA)
The Global Cresol Market is highly consolidated due to the presence of a large number of companies across this industry. The report discusses the current market standing of these companies, their past performances, demand and supply graph, production and consumption patterns, sales network, distribution channels, and growth opportunities in the market at length. The report scrutinizes the strategic approach of key market players towards expanding their product offerings and fortifying their market foothold.
The leading market contenders listed in the report are as follows:
Sasol Limited, Atul Ltd., Lanxess AG, Saudi Basic Industries Corporation, Konan Chemical Manufacturing Co., Ltd., Mitsui Chemicals, Dakota Gasification Company, Henan Hongye Technological Chemical Co., Ltd., RüTGERS Group, and Akrochem Corporation.
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- The report conducts a comparative assessment of the leading market players participating in the global Cresol market.
- The report marks the notable developments that have recently taken place in the Cresol industry
- It details on the strategic initiatives undertaken by the market competitors for business expansion.
- It closely examines the micro- and macro-economic growth indicators, as well as the essential elements of the Cresol market value chain.
- The repot further jots down the major growth prospects for the emerging market players in the leading regions of the market.
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Key questions addressed in the report:
- Who are the leading players dominating the global Cresol Market?
- Which factors could potentially hamper the global market growth during the forecast period?
- Which regional market offers the most attractive growth opportunities to the companies operating in this market?
- How is the raw material availability affecting the demand for Cresol in this industry vertical?
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