The global cresol market is expected to reach
USD 795.7 million by 2024, according to a new report by Grand View Research,
Inc. Increasing adoption of cresol derivatives as a precursor in the production
of antioxidants in personal care and chemical intermediates are expected to
drive product demand over the next eight years.
The ability of vitamin E to
minimize risks associated with heart attack, chest pain, and joint pain is
anticipated to steer cresols demand over the forecast period. Vitamin E is
majorly used as an antioxidant to prevent clotting and blood sugar problems.
BHT is another important antioxidant derived from cresol isomers that find
significance in the food, cosmetics, and chemical industries.
Ortho isomer derivatives are
majorly used in agrochemical and pesticide industries. Agrochemical segment
accounted for over 27% of global ortho-cresol market volume in 2015. Growing
concern towards crop protection and pest control is expected to drive product
demand in agrochemical industry.
Growing concern towards food
shortage can be attributed to the lack of synergy between crop production and
surging food demand in various regions of Asia Pacific and Europe. The ability
of ortho and meta isomer derivatives to enhance the performance of pesticides
is anticipated to drive product demand as plant growth regulators over the long
term.
Browse full research report on Global
Cresol Market: http://www.grandviewresearch.com/industry-analysis/cresol-market
Further key findings from the report suggest:
- The global cresol market demand was 137.5 kilo tons in 2015 and is estimated to reach 187.1 kilo tons by 2024, growing at a CAGR of 3.5% from 2016 to 2024
- para-Cresol emerged as the leading product segment and accounted for 39.1% of total revenue in 2014. The segment is estimated to reach a net worth exceeding USD 300 million by 2024.
- Global meta isomer & derivatives demand in electronic applications is expected to witness the fastest growth over the forecast period. The segment is anticipated to reach a total demand of 4.3 kilo tons by 2024.
- Asia Pacific was the leading reagional market with demand share estimated at 42.9% in 2015. The region is also expected to witness the highest growth of 4.0% over the forecast period.
- Key players operating in the industry include Sasol, Lanxess, SABIC, and Mitsui Chemical that have integrated the production of raw material, cresol isomers, and their derivatives. Other major industry participants include Atul Ltd., Datang Chemical, VDH Chemtech, Xiamen HiSunny, and Konan Chemical.
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/food-additives-nutricosmetics-flavors-and-fragrances
Grand View Research has segmented the cresol market on the
basis of product, and region:
Global Cresol Product Outlook (Volume, Kilo Tons; Revenue,
USD Million, 2014 - 2024)
- m-Cresol
- By application
- Agrochemicals & pesticides
- Vitamin E
- Chemical intermediate
- Electronics
- Others
- p-Cresol
- By application
- Butylated hydroxytoluene
- Antioxidant
- Fragrance
- Specialty resin
- Others
- o-Cresol
- By application
- Agrochemicals & pesticides
- Antioxidant
- Dyes
- Electronics
- Others
Global Cresol Regional Outlook (Volume, Kilo Tons;
Revenue, USD Million, 2014 - 2024)
- North America
- U.S.
- Europe
- France
- Germany
- UK
- Asia Pacific
- China
- India
- Middle East & Africa
- Central & South America
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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