Cresols Market to Rise at a CAGR of 3.5% during Forecast Period, Notes TMR Study

• The expansion of the global cresols market is projected to be shaped by the growing use of cresols for diverse automotive applications
• The rise in popularity of vitamin E, which is extensively used to improve and fortify a variety of foods and beverages, is expected to influence the demand for cresols

WILMINGTON, Del., Sept. 7, 2022 /PRNewswire/ -- In 2018, the value of global cresols market stood around US$ 283.92 Mn. The global market is anticipated to attain value of US$ 386.95 Mn by 2027. The cresols market is likely to rise at 3.5% CAGR during the forecast period, from 2019 to 2027. The increasing demand for vitamin E is expected to emerge as one of the prominent factors driving the global demand of cresols market. The main applications of vitamin E are in nutritional supplements and also food and beverage fortification. The need for dietary supplements is rising as a result of changes in lifestyle and an increase in food adulteration, which is expected to fuel opportunity for cresols market.

There are several uses for cresols, including that of agrochemicals, disinfectants, preservatives and antiseptics. The global market for cresols is expected to rise in the forthcoming years due to its widespread use. Commercially accessible phenol derivative stereoisomers include para, ortho, and meta cresol. Two well-known processes-methylating phenol with methanol and sulfonating toluene, then hydrolyzing it—are used to make cresol. The preferred commercial method, however is toluene-based cresol. It can be either a liquid or a solid, with a phenolic and sweet odor.

In the industrial uses, cresol is a well-liked wood preservative, disinfectant, solvent, and preservative, which is estimated to drive future business opportunities in cresols market. Meta cresol is used in the production of explosives, herbicides, pesticides, antioxidants, and photographic chemicals. Although paracresol is mostly used in the synthesis of antioxidants, dyes, and fragrance compounds, it is also used to make other chemicals.

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Key Findings of Market Report

• The rising demand for preservatives and antioxidants is expected to propel the global cresol market. Prices and availability of raw materials play a major role in determining the long-term viability of the global cresols industry. As vitamin E becomes increasingly popular as an ingredient in animal feed and dietary supplements, the need for cresols is expected to grow as a result.
• The chemical intermediates category, which is expected to see strong growth in the coming years, is estimated to retain majority of the market share through 2027. A significant amount of the world's cresol production is also used to make organic intermediates, deodorizing and odor-enhancing substances, and drugs. Such extensive uses are likely to present immense growth opportunities to the key players operating in the cresols market.
• Para-cresol is expected to stay as the top revenue-generating product through the end of 2027, depending on the product type. It is mainly employed in the manufacture of antioxidants like BHT. Thus, the segment's expansion is being aided by the increasing need for antioxidants in the production of cosmetics, electrical transformer oil, rubber, medicines, and food and beverage products.

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Global Cresols Market: Growth Drivers

• In 2018 and through 2027, Asia Pacific region is expected to continue to be a leading region with the highest volume and value. In addition to better economic conditions, the rapidly growing industrial and chemical sectors in India, Japan, and China are fostering the region's development. This aspect is expected to cause the region's income to increase at a rapid pace during the forecast period.
• As people's lifestyles change and consumption of dietary supplements rises, there are more instances of food being tampered with, which is anticipated to help the global cresols market grow.

Global Cresols Market: Key Players

Some of the key market players are

• Henan Hongye Technological Chemical Co. Ltd
• SABIC Innovative Plastics
• Sasol Phenolics
• Atul Ltd
• Lanxess Aktiengesellschaft

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Global Cresols Market: Segmentation

Product

• Meta-cresols
• Para-cresols
• Ortho-cresols

Application

• Chemical Intermediates
• Solvents
• Preservatives
• Antioxidants
• Others

Regions

• North America
• Europe
• Asia Pacific
• Middle East
• Rest of the World

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