Wilmington, Delaware, Nov. 09, 2023 (GLOBE NEWSWIRE) -- Global Phenol Market is valued at US$ 11.9 billion in 2023 and is expected to grow at a significant CAGR of over 3.7% over the forecast period of 2023-2030, according to the published market report by RationalStat
Market Definition, Market Scope, and Report Overview
Phenol, also known as carbolic acid, is a chemical compound with the molecular formula C6H5OH. It is a white crystalline solid with a characteristic sweet, tarry odor. Phenol is a type of organic compound that contains a hydroxyl (-OH) group attached to a benzene ring. This hydroxyl group makes phenol an aromatic alcohol.
The global population is aging, leading to a higher prevalence of heart-related conditions, including aortic valve disease. As people age, the risk of aortic valve deterioration increases, driving the demand for replacement devices. Ongoing clinical trials and research efforts are aimed at enhancing the safety and efficacy of phenol, attracting investments, and driving innovation in the field.
- According to a deep-dive market assessment by RationalStat, the global phenol market has been analyzed on the basis of market segments, including sales channel, application, end user and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global phenol market covers market sizes on the basis of market value (US$/EUR Million) and volume (Tons) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global phenol market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Phenol Market: Segmental and Market Share Analysis
- On the basis of application, plastic reagents is expected to dominate the phenol market, principally due to the ubiquitous nature of plastic.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 11.9 billion |
| Market Size Forecast | US$ 15.3 billion |
| Growth Rate | 3.7% |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global phenol market include,
- In August 2022, INEOS acquired Mitsui Phenols. This strategic acquisition aligns well with INEOS' existing business operations and brings an additional 310,000 metric tons per annum (ktpa) of phenol production capacity to their portfolio.
- In June 2022, INEOS introduced INVIRIDIS, a new low carbon bio product line intended for its phenol acetone and alphamethylstyrene business segment.
Some of the prominent players and suppliers operating and contributing significantly to the global phenol market growth include INEOS, Shell, Dow, Mitsui Chemicals, Cepsa, PTT Global Chemical Public Company Limited, LG CHEM, Honeywell International Inc, Mitsubishi Chemical Group Corporation, Lummus Technology, and Solvay, among others.
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RationalStat has segmented the global phenol market based on sales channel, application, end user and region
- Global Phenol Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Sales Channel
- Direct Channel
- Indirect Channel
- Global Phenol Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by End User
- Cosmetic
- Pharmaceutical
- Automotive
- Consumer Goods
- Agro Chemicals
- Chemicals
- Others (Adhesives & Coatings, etc.)
- Global Phenol Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Application
- Bisphenol-A
- Phenol Formaldehyde Resin
- Nylon-KA Oil
- Plastic Reagents
- Others
- Global Phenol Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Region
- North America Phenol Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Country
- US
- Canada
- Latin America Phenol Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Country
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Phenol Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Country
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Phenol Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Country
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Phenol Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Country
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Phenol Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Country
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Phenol Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Country
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Key Questions Answered in the Phenol Report:
- What will be the market value of the global phenol market by 2030?
- What is the market size of the global phenol market?
- What are the market drivers of the global phenol market?
- What are the key trends in the global phenol market?
- Which is the leading region in the global phenol market?
- What are the major companies operating in the global phenol market?
- What are the market shares by key segments in the global phenol market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.
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