Asia-Pacific Cresols Market is anticipated to record a CAGR of 3.5% over the forecast period. Regionally, Asia Pacific has a strong ground enhancing the overall cresols market outlook. Changing consumer food habits leading to increasing dietary supplement demand has subsequently escalated the product adoption in this region. North America market is also expected to witness a lucrative growth trajectory over the forecast period, having acquired a revenue of USD 45 million in 2015. Strong demand for preservatives in the food packaging sector along with extensive usage of cresols as chemical intermediates across the pharmaceutical industry is catalyzing the industry expansion. U.S is likely to be the major revenue pocket for the regional cresols market. —
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Taking into consideration the application landscape, cresols market from chemical intermediates application is anticipated to experience maximum gains at an annual rate of 3.5% over the coming seven years. Cresols are extensively used as a chemical intermediate in the production of Vitamin E. As a result, increasing consumption rate of Vitamin E across the world is proportionally impacting on cresols market dynamics as well. Broad application array of Vitamin E in the human dietary supplement, animal feed additive along with considerable growth in the chemical industries over the past few years has substantially increased the overall market demand. Solvent applications also accounted for a notable share in 2015, by collecting a revenue of more than USD 35 million. Polymer industry is the major end use sector that is substantially driving the cresols market from this sector. The industry is also experiencing a huge demand from automotive and electronics sector. Cresols’ unique capability of enduring elevated temperature under mechanical stress with comparatively lesser creep, makes them a good fit for manufacturing of pulleys, natural gas valves, and automotive brake pistons.
Meta cresols, ortho cresols, and para cresols are the three-predominant product thriving the cresols market. Meta cresols are mainly used as a precursor in the production of synthetic vitamin E. It is also commercially used in fenthion and fenitrothion pesticides. In addition to this, increasing meat consumption has further escalated the product demand in animal feed additives industry. In 2015, meta cresols market size was over USD 160 million and is expected to witness substantial growth in the years ahead. Para cresols will continue to be one of significant revenue contributors for the overall cresols industry share owing to the rising demand for the product from pharmaceuticals, rubber, and cosmetic sectors. As per estimates, para cresols market is forecast to register an annual growth rate of more than 3% over 2015-2024.
Escalating requirement of vitamin E as an animal feed additive due to high meat consumption will push cresols market value over the years to come. Booming animal feed additives sector, which is expected to cross the revenue of USD 22 billion by 2022, will further benefit the industry. As per Global Market Insights, Inc., “Cresols Market size is anticipated to hit USD 474 million by 2024.” Besides, its extensive applications across dyes, plastics, cosmetics, pesticides, rubber, and pharmaceuticals will boost market trends over the forthcoming years. Elevated demand for the product in electrical & electronics and automotive applications will uplift industry revenue over the span of few years.
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Market players will try to improve their ROI and extend their geographical presence through implementation of key business strategies such as product differentiation, mergers & acquisitions, and high R&D investments. Henan Hongye Technology Chemical Company Limited, Xiamen Hisunny Chemical Company Limited, Atul Limited, VDH Chemtech Private Limited, Lanxess Chemicals Company, Sasol Phenolics, Ardisons Oils & Electricals (P) Limited, Nanjing Datang Chemical Company Limited, SABIC, Rutgers Group, Mitsui Chemicals Incorporation, Asahi Kasei Corporation, and Dakota Gasification Company are the key participants of cresols market.
Glimpse of Table of Content (ToC)
Chapter 4 Cresols Product Insights
4.1 Cresols Market share by product, 2015 & 2024
4.2.1 Global cresols market estimates and forecast, 2013 – 2024
4.2.2 Global market estimates and forecast, by region, 2013 – 2024
4.3.1 Global market estimates and forecast, 2013 – 2024
4.3.2 Global market estimates and forecast, by region, 2013 – 2024
4.4.1 Global market estimates and forecast, 2013 – 2024
4.4.2 Global market estimates and forecast, by region, 2013 – 2024
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