Market Size of Phenol Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 4.00 % |
Fastest Growing Market | Asia Pacific |
Largest Market | Asia Pacific |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Phenol Market Analysis
The global phenol market is projected to register a CAGR of over 4% during the forecasted period.
Due to the COVID-19 outbreak, nationwide lockdowns around the globe, disruption in manufacturing activities and supply chains, and production halts impacted the market in 2020. However, the conditions started recovering in 2021, restoring the market's growth trajectory during the forecast period. The chemical and petrochemical industries have been on track for recovery ever since the retraction of the pandemic in mid-2021. The exponential rise in demand from paints and coatings, adhesives, and other end-user sectors continues to exert pressure on these sectors, which are expected to contribute to the positive outlook of the phenol market.
- The growing demand for Bisphenol-A is the major driving factor augmenting the growth of the market studied.
- On the flip side, a ban on BPA in the United States and Europe is hindering the growth of the market.
- Nevertheless, the production of phenol from recycled feedstock, termed Bio-based Phenol is likely to create lucrative growth opportunities for the global market soon.
- The Asia-Pacific region is expected to dominate the global phenol market and is also forecasted to be the fastest-growing region over the forecast period.
Phenol Industry Segmentation
Phenol belongs to the family of organic compounds characterized by a hydroxyl (OH) group attached to a carbon atom that is part of an aromatic ring. Phenols are widely used in household products and as intermediates for industrial synthesis. It is used as a disinfectant in household cleaners and mouthwash. The phenol market is segmented by product type and geography. By product type, the market is segmented into phenolic resins, caprolactum, bisphenol-A, and other product types. The report also covers the market size and forecasts for the methanol market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done based on volume (kilo tons).
Product Type | |
Phenolic Resins | |
Caprolactum | |
Bisphenol-A | |
Other Product Types |
Geography | |||||||
| |||||||
| |||||||
| |||||||
| |||||||
|
Phenol Market Size Summary
The global phenol market is poised for steady growth, driven by the increasing demand for Bisphenol-A (BPA), which is extensively used in the production of polycarbonate plastics and epoxy resins. These materials are integral to various industries, including paints and coatings, adhesives, and electronics, contributing to the market's positive outlook. The recovery from the COVID-19 pandemic has further bolstered the market, with the chemical and petrochemical sectors rebounding. However, regulatory challenges, such as the ban on BPA in the United States and Europe, pose obstacles to market expansion. Despite these challenges, the emergence of bio-based phenol production from recycled feedstock presents promising growth opportunities.
The Asia-Pacific region is expected to dominate the global phenol market, driven by its robust demand for BPA in the automotive and construction industries. The region's rapid urbanization, increasing consumer spending, and rising disposable incomes are fueling demand for various products, including furniture, automotive, and industrial appliances, thereby boosting the phenol market. China, as the largest producer and consumer of phenol, benefits from low operating costs and a strong construction sector, further enhancing its market position. The fragmented nature of the global phenol market sees major players like Shell PLC, Solvay, and Mitsubishi Chemical Corporation competing for market share, with recent strategic moves such as acquisitions and the introduction of sustainable products like Cepsa's NextPhenol indicating a focus on expanding production capacities and integrating sustainable practices.
Phenol Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Drivers
-
1.1.1 High Demand of Bisphenol-A
-
1.1.2 Other Drivers
-
-
1.2 Restraints
-
1.2.1 Ban on BPA in the United States and Europe
-
1.2.2 Others Restraints
-
-
1.3 Industry Value Chain Analysis
-
1.4 Porter's Five Forces Analysis
-
1.4.1 Bargaining Power of Suppliers
-
1.4.2 Bargaining Power of Buyers
-
1.4.3 Threat of New Entrants
-
1.4.4 Threat of Substitute Products and Services
-
1.4.5 Degree of Competition
-
-
-
2. MARKET SEGMENTATION (Market Size in Volume)
-
2.1 Product Type
-
2.1.1 Phenolic Resins
-
2.1.2 Caprolactum
-
2.1.3 Bisphenol-A
-
2.1.4 Other Product Types
-
-
2.2 Geography
-
2.2.1 Asia-Pacific
-
2.2.1.1 China
-
2.2.1.2 India
-
2.2.1.3 Japan
-
2.2.1.4 South Korea
-
2.2.1.5 Rest of Asia-Pacific
-
-
2.2.2 North America
-
2.2.2.1 United States
-
2.2.2.2 Canada
-
2.2.2.3 Mexico
-
-
2.2.3 Europe
-
2.2.3.1 Germany
-
2.2.3.2 United Kingdom
-
2.2.3.3 France
-
2.2.3.4 Italy
-
2.2.3.5 Rest of Europe
-
-
2.2.4 South America
-
2.2.4.1 Brazil
-
2.2.4.2 Argentina
-
2.2.4.3 Rest of South America
-
-
2.2.5 Middle-East and Africa
-
2.2.5.1 Saudi Arabia
-
2.2.5.2 South Africa
-
2.2.5.3 Rest of Middle-East and Africa
-
-
-
Phenol Market Size FAQs
What is the current Phenol Market size?
The Phenol Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Phenol Market?
Shell PLC, Solvay, Mitsubishi Chemical Corporation, Mitsui Chemicals Inc. and Cepsa are the major companies operating in the Phenol Market.