Transparency Market Research has published a new market report titled
“Cresols Market - Global Industry Analysis, Size, Share, Growth,
Trends and Forecast 2015 - 2023.” According to the report, the
global cresols market was valued at US$338.9 mn in 2014 and is
anticipated to reach US$452.1 mn in 2023, expanding at a CAGR of 3.3%
from 2015 to 2023.
Cresols are aromatic organic compounds of monomethyl phenols that are
widely used as precursors or chemical intermediates in the production
of polymer resins, plasticizers, antioxidants, solvents, vitamin E,
rubbers, pharmaceuticals, fragrances, dyes, and other
chemicals.Demand for vitamin E is rising owing to its extensive
application in dietary supplements, animal feed additives, etc. This,
in turn, is anticipated to fuel growth of the cresols market during
the forecast period.
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Cresols are subject to strict mandates from the Environmental
Protection Agency (EPA) as they are harmful air pollutants. This is
likely to be a restraining factor for the market growth in the near
future. Increasing demand for cresols in industrial applications such
as automotive and electronics is estimated to open up new growth
avenues for the market.
Para-cresols was the largest product segment of the cresols market in
2014, accounting for about 45% of the global cresols market followed
by meta-cresols, in terms of volume. However, meta-cresols is
expected to be the fastest-growing application segment of the cresols
market during the forecast period owing to rising demand for vitamin
E in dietary supplements.
Major applications of cresols include chemical intermediates,
solvents, preservatives, antioxidants, and others. In terms of
volume, chemical intermediates accounted for more than 60% share of
the global cresols market in 2014. It is estimated to be the
fastest-growing segment during the forecast period owing to
significant demand from chemical industries in Asia Pacific and
Europe. Rising demand for vitamin E in dietary supplements is
expected to drive demand for cresols in the chemical intermediates
segment in the near future.
In terms of volume, Asia Pacific dominated the global cresols market
in 2014, accounting for more than 45% of the global cresols market.
China’s economy has grown rapidly in the past 10 years. This trend
is expected to continue during the forecast period. The country
offers immense potential for the chemical sector. Growth in the
chemical sector in China and other emerging countries in Asia Pacific
is anticipated to fuel the cresols market in the next few years. In
terms of volume, Europe is likely to be the second-fastest regional
segment of the global cresols market during the forecast period.
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Market Research Report with ToC & Analysis :
Key players in the cresols market include Sasol Phenolics, Saudi
Basic Industries Corporation, Lanxess AG, Dakota Gasification
Company, RÜTGERS Group, Mitsui Chemicals, Inc., Atul Ltd., Nanjing
Datang Chemical Co., Ltd., VDH Chemtech Pvt. Ltd, Ardisons Oils &
Electricals (P) Ltd., and Xiamen Hisunny Chemical Co., LTD.
The
report segments the cresols market as follows:
Cresols
Market – Product Segment Analysis
- Para-cresol
- Meta-cresol
- Ortho-cresol
Cresols
Market – Application Analysis
- Chemical Intermediates
- Solvents
- Preservatives
- Antioxidants
- Others (Including perfumes & dyes)
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