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.
To request a sample copy
or view summary of this report, click the link below:
http://www.grandviewresearch.com/industry-analysis/resorcinol-market
http://www.grandviewresearch.com/industry-analysis/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.
Grand View Research has segmented the
global resorcinol market on the basis of application, and region:
Resorcinol Application Outlook (Revenue,
USD Million; Volume Tons, 2014 - 2025)
·
Rubber products
·
Wood adhesives
·
UV stabilizers
·
Flame retardants
·
Others
Resorcinol Regional Outlook (Revenue, USD
Million; Volume Tons, 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
About Grand View Research
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, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
