The global demand for Resorcinol Market is presumed to reach the valuation of nearly USD XX MN by 2026 from USD XX MN in 2019 with a CAGR of XX% under the study period of 2020 - 2026.
Resorcinol, or resorcin, is a white crystalline solid and is soluble in alcohol, ether and water. It has slightly bittersweet taste and is produced by melting resins, such as asafetida and galbanum with potassium hydroxide (KOH) or by the distillation of brazilwood extract. This organic compound enhances the adhesive strength of rubber and wood products and is used in the manufacturing of fire retardants, dyes, UV stabilizers, explosives and herbicides. It is widely used in industries, including rubber, chemical, automotive, construction, etc.
The combination of factors such as rapid growth of the automotive industry, growing construction of residential and commercial complexes, and increasing prevalence of skin-related medical ailments across the globe are the key factors driving the growth of the market. Resorcinol is widely used in resin making owing to its high cost-effectiveness, chemical stability, resistance to solvents, salt-water, acids, and oil. With the growth of the automotive sector, there is an emerging need for various rubber-based products, including belts, tires and rubber-coated fabrics. This is creating a new opportunity for the market as resorcinol is used as a binding medium for rubber and reinforcing cords. Increasing utilization of resorcinol as an antiseptic and disinfectant in skincare products for the treatment of acne, psoriasis, eczema, calluses, and warts is favouring the market growth. Additionally, increasing utilization of the compound in the production of non-halogenated flame-retardants and various agricultural chemicals is predicted to boost the demand growth further. However, the gap between supply and demand due to uneven shutdown of the plant has significantly affected the growth. In past three years, supply for resorcinol has been outpacing demand. In response to this, players within the market are expanding their production capacity to meet the future demand and to provide a steady supply.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of resorcinol.
The entire resorcinol market has been sub-categorized into production method, application, and end-use industry. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
By Production Method
- Benzene Disulfonation
- Hydroperoxidation of Meta-Diisopropylbenzene
- Hydrolysis of Meta-Phenylenediamine
By End-Use Industry
- Tire and Rubber Products
- Wood Adhesives and Binders
- UV Products and Dyes
- Flame Retardants
- Building and Construction
- Electrical and Electronics
This section covers regional segmentation which accentuates on current and future demand for resorcinol market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Europe Resorcinol Market By Revenue (USD MN)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the resorcinol market include Akrochem Corporation, Aldon Corporation, Alfa Aesar, Amino-Chem Co. Ltd., Atul Ltd., Dynea AS, Euram Chemicals Ltd, Indspec Chemical Corporation, Jiangsu Zhongdan Group Co., Ltd., Kraeber & Co. GmbH, Mitsui Chemicals, Napp Technologies, Sigma-Aldrich, Sumitomo Chemicals Co. Ltd., etc. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.