Resorcinol Market Size (2024 - 2029)

The resorcinol market is projected to experience growth over the forecast period, driven primarily by rising demand from the tire industry. Despite this positive trend, the market's expansion may face challenges due to a downturn in the automotive sector.

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Market Size of Resorcinol Industry

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Resorcinol Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 3.00 %

Major Players

Resorcinol Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Resorcinol Market Analysis

The market for resorcinol is expected to expand at a CAGR of greater than 3% during the forecast period. The major factors driving the growth of the market studied are increasing demand from tire industry. However, declining automotive industry is likely to hinder the market growth.

Resorcinol Industry Segmentation

The resorcinol market report includes:

Application
Flame Retardants
Fungicidal creams
UV Stabilizers
Tires and Conveyers
Other Applications
End-user Industry
Building and Construction
Healthcare
Automotive
Electrical and Electronics
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
United Arab Emirates
Rest of Middle-East and Africa
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Resorcinol Market Size Summary

The resorcinol market is poised for growth, driven primarily by the increasing demand from the tire industry, despite challenges posed by a declining automotive sector. Resorcinol's application in adhesive resins for tire production underscores its dependence on global tire manufacturing trends. The tire and conveyor segments hold a significant portion of the market, reflecting the robust demand for rubber products, particularly tires. The United States stands out as a major player in the tire market, housing some of the largest tire manufacturers globally. However, shifts in tire manufacturing, such as changes in tire size and structure, are influencing the demand for different types of carbon blacks, which in turn affects the resorcinol market.

In the Asia-Pacific region, the resorcinol market is bolstered by strong demand from developing countries like China and India, despite challenges in the automotive industry. China, as the largest automotive producer, has faced a decline in vehicle production and sales, influenced by economic shifts and trade tensions with the United States. However, the rise of electric vehicles offers a potential rebound for the automotive sector. Meanwhile, the construction industry in China and India is experiencing growth, driven by significant infrastructure investments and urbanization efforts, which are expected to enhance the demand for resorcinol. The market is consolidated, with major players like Sumitomo Chemical Co. Ltd, Dynea AS, TWC Group, and Atul Ltd holding substantial market shares.

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Resorcinol Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand from Tire Industry

      2. 1.1.2 Other Drivers

    2. 1.2 Restraints

    3. 1.3 Industry Value-chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

    5. 1.5 Trade Analysis

    6. 1.6 Technological Snapshot

  2. 2. MARKET SEGMENTATION

    1. 2.1 Application

      1. 2.1.1 Flame Retardants

      2. 2.1.2 Fungicidal creams

      3. 2.1.3 UV Stabilizers

      4. 2.1.4 Tires and Conveyers

      5. 2.1.5 Other Applications

    2. 2.2 End-user Industry

      1. 2.2.1 Building and Construction

      2. 2.2.2 Healthcare

      3. 2.2.3 Automotive

      4. 2.2.4 Electrical and Electronics

      5. 2.2.5 Other End-user Industries

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 France

        4. 2.3.3.4 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 United Arab Emirates

        3. 2.3.5.3 Rest of Middle-East and Africa

Resorcinol Market Size FAQs

The Resorcinol Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)

Sumitomo Chemical Co., Ltd. , Atul Ltd and TWC Group are the major companies operating in the Resorcinol Market.

Resorcinol Market Report Snapshots

Resorcinol Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)