PUNE, India, May 9, 2017 /PRNewswire/ --
The report "Phenol Derivatives Market by Derivatives (Bisphenol derivatives-A, Phenolic Resins, Caprolactam, Alkylphenol, and Other Derivatives), by Region - Global Forecast to 2026", published by MarketsandMarkets™, the global market is projected to reach USD 19.78 Billion by 2026, at a CAGR of 4.6% from 2016 to 2026.
Browse 86 market data Tables and 52 Figures spread through 145 Pages and in-depth TOC on "Phenol Derivatives Market"
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This growth is driven by rising demand from Asia-Pacific region due to highly industrialized countries, such as China. Phenol derivatives are preferred for the production of polycarbonates, epoxy resins, bakelite, and nylon.
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Bisphenol -A: The most-widely used derivative of phenol derivatives
Bisphenol-A is a phenol derivative commonly used for producing polycarbonates and epoxy resins. The bisphenol-A is the most-widely used derivative of phenol. Polycarbonate finds application in food and drink packaging such as water & baby bottles, compact discs, impact-resistant safety equipment, and medical devices. Further, epoxy resins used to coat metal products such as food cans, bottle tops, and water supply pipes. BPA is also be found in certain thermal paper products, including cash register and ATM receipts.
Asia-Pacific: The largest market for phenol derivatives
The Asia-Pacific region is the largest market in the global phenol derivatives market, in terms of value, and this trend is expected to continue till 2026. Countries in this region such as China, India, Japan, South Korea, and Taiwan are witnessing an increase in the use of phenol derivatives in the production of electronics goods and automotive. The industrial activities in China and South Korea mainly concentrated by manufacturing of electronics goods, and hence increasing the demand of phenol derivatives in the region. China is the largest and fastest-growing market for phenol derivatives and this trend is expected to continue till 2026.
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The phenol derivatives market has many global players competing for market shares. These companies are actively investing in various strategies such as, expansion, acquisitions, and agreement projects globally, to further increase their market shares. Major manufacturers such as Compañía Española de Petróleos S.A.U. (Spain), LG Chem (South Korea), Honeywell International Inc. (U.S.), INEOS (Switzerland), and Mitsui Chemicals, Inc. (Japan), and others have adopted various organic and inorganic developmental strategies in the Asia-Pacific region to expand their businesses in the region.
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