New York, United States , Nov. 18, 2022 (GLOBE NEWSWIRE) -- The Global Xylenols Market Size to grow from USD 2.9 billion in 2021 to USD 5.33 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 7% during the forecast period. The xylenols market has grown due to the increasing demand for xylenols post the outbreak of the COVID-19 pandemic. The xylenols market may expand due to the rising need for xylenol chemicals in various oilfield activities, including sustainable oil exploration, extraction, and production.
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The 2,4 xylenols segment to account for the largest market size during the forecast period
Based on the Product, the global xylenols market is categorized into 2,4 xylenols, 2,3 xylenols, 2,5 Xylenols, 2,6 Xylenols, 3,5 Xylenols, and Others. The 2,4 xylenols segment accounts for the largest market size during the forecast period. Because 2,4-xylenol are increasingly used in various industries, including pharmaceutical, agricultural, health care, and personal care, demand for them is anticipated to rise significantly throughout the forecast period. The demand for 2,4-xylenols as an intermediate for biocides, germicides, and agricultural goods is expected to rise throughout the forecast period, which is a major market driver. It is also anticipated that the expansion of the agricultural sector in both developed and emerging nations will increase demand for xylenols. However, the xylenols market is adversely affected by strict regulations regulating the manufacturing process certification.
The Disinfectants segment to hold a higher CAGR during the forecast period.
Based on Application, the xylenols market is categorized into Agrochemicals, Solvents, Pharmaceuticals, Plasticizers, Oilfield Chemicals, Resins, Disinfectants, and Others. The Disinfectants segment to hold a higher CAGR during the forecast period. In the coming years, xylenols market expansion will be driven by rising product penetration in antibacterial soaps, wound-cleansing applications, and household antiseptics. The market expansion for xylenols is being accelerated by the need for these compounds as surface disinfectants in agricultural and animal husbandry applications.
Browse key industry insights spread across 195 pages with 120 market data tables and figures & charts from the report “Global Xylenols Market Size, Share, and COVID-19 Impact Analysis, By Product (2,3 Xylenols, 2,4 Xylenols, 2,5 Xylenols, 2,6 Xylenols, 3,5 Xylenols, and Others), By Application (Agrochemicals, Solvents, Pharmaceuticals, Plasticizers, Oilfield Chemicals, Disinfectants, and Others), and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030“ in detail along with the table of contents.
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COVID-19 Analysis and Impact
The COVID-19 outbreak has negatively impacted credit portfolios. The enormous growth has hampered the solvency of customers and businesses in unemployment and interruption of economic activity. Central banks have adopted a proactive strategy of injecting money into the market by decreasing interest rates and implementing asset purchase programmes. With persistent geopolitical tensions, global trade battles, and sporadic hurricanes and earthquakes, managing and monitoring credit, market, liquidity, and operational risk across financial markets was challenging enough. Chief risk officers and their teams have had to reevaluate outdated methods and assumptions used to manage and monitor risk due to the present pandemic crisis. The global repercussions of COVID-19 have demonstrated the significance of interconnection in international cooperation. As a result, many governments have been hurrying to find, assess, and buy trustworthy AI-powered solutions.
Asia Pacific is estimated to account for the highest market share in 2021.
The Global Xylenols Market has been segmented into five major regions: North America, Europe, Asia-Pacific, South America, The Middle East and Africa. Because major phenol-producing nations like China, India, and Japan have huge production capacities, the region controls a significant portion of the global market. The Asia Pacific xylenols market is also anticipated to grow due to low operating costs, affordable labour, newly increased production capacity, etc. Major agricultural-producing nations like China, India, Thailand, and Indonesia, among others, consume a lot of agrochemicals, which is boosting the expansion of the regional market. Xylenols are commonly found in antiseptic and disinfection compositions used to clean surfaces, medical equipment, and surgical instruments. As a result, the region's expanding healthcare infrastructure will drive demand for xylenols over the projection period. Additionally, the exponential rise in COVID-19 cases has raised awareness of the value of personal cleanliness in the area, helping the xylenols industry flourish. North America to hold a higher CAGR during the forecast period.
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Key Companies & Recent Developments: The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Xylenols Market include DEZA a. s., Deepak Novochem Technologies Limited, Dorf Ketal, SASOL, TCI Chemicals (India) Pvt. Ltd., the LGC Group, the Honshu Chemical Industry Co., Ltd., the SI Group, SABICA, and TORAY INDUSTRIES, INC. and others 20+ prominent key players we have added in the final report. Global Economy: Recession Risk Rising Analysis and Russia-Ukraine Conflict War Impact we have added in the report.
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