NEW YORK, October 10, 2017 /PRNewswire/ --
Phenol is an aromatic compound commonly known as carbolic acid that has a similar structure to alcohol but with higher levels of acidity. The global phenol market is driven in large part by the surging demand for bisphenol - A. The demand in the global phenol market is substantially influenced by general macroeconomic factors and thus, the consumption of phenol has a direct relation to the growth patterns of major world economies. Phenol is widely used in many different applications including medical, electrical, textile wood, resin paint, and dyeing. The global phenol market is predicted to witness a robust CAGR of 6.8% from 2017 to 2022.
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The Bisphenol -A segment is projected to account for a revenue share approaching half of the end use segment at the end of 2017. The Bisphenol - A segment is estimated to grow to a value of just under US$ 8.5 billion at the end of the forecast period, making it large enough for all key stakeholders in the phenol market. The increased demand and capacity of Bisphenol - A should result in a strong demand for phenol products in the APEJ region. The demand for Bisphenol - A is linked to that of polycarbonate. A rise in polycarbonate demand directly benefits that of Bisphenol - A.
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The Phenol Formaldehyde Resin segment has a revenue share approaching a third of the end use segment at the end of 2017 in the phenol market. The Phenol Formaldehyde Resin segment is on track to record a robust CAGR of a little under 8% for the forecast period and companies would do well to take note of this while devising their long-term investment strategies. Along with APEJ, North America and Europe are poised to cross a billion dollars in terms of value in the Phenol Formaldehyde Resin segment of the phenol market at the end of 2022.
The PPO/ Orthooxylenol has a single digit revenue share in the phenol market and is a niche opportunity at best. It would not be surprising if smaller players in the phenol market decided to overlook the PPO/ Orthooxylenol segment entirely in favor of other end use segments. An absolute dollar opportunity of approx. US$ 120 million between 2017 and 2022 needs customized manufacturer strategies to truly succeed in this segment of the phenol market.
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The Cumene manufacturing process dominates the global phenol market and is on track to gain market share going forward. The Cumene process segment should be worth almost US$ 12.3 billion in 2017 itself. The Dow process is much smaller in comparison and is assessed to lose market share over the duration of the forecast period.
The companies profiled in the phenol market report include ALTIVIA Chemicals, Ineos Group Limited, Domo Investment Group, Deepak Nitrite Limited, CEPSA Química, PTT Global Chemical Public Company Limited, Solvay SA, Mitsui Chemicals, AdvanSix Inc., and Royal Dutch Shell.
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