The global cresol market size was USD 327.6 Million in 2021 and is expected to register a revenue CAGR of 3.5% during the forecast period, according to latest analysis by Emergen Research. Rising demand for cresol to produce agrochemicals & pesticides is a key factor driving market revenue growth. Ortho cresol derivatives are mostly used in agrochemical and pesticide industries and considered a key component in agrochemicals. Growing concerns about crop protection and pest control are creating a high demand for agrochemical products. The industry is booming in recent years due to growing need to defend against crop losses and boost yields and increase consumer demand for sustainably produced food. In 2021, China launched 14th Five-Year Plan (FYP) for development of the agrochemical industry from 2021 to 2025. Its main objective will be met by the end of 2025, which is expected to create a high demand for cresol. In addition, capability of vitamin E to reduce risks of joint pain, chest pain, and heart attack creates high demand for this vitamin in food supplements.
The latest and updated research report on the Global Cresol Market covers a comprehensive overview of the Cresol market, future economic condition, competitive landscape mapping, supply and demand trends, and production and consumption analysis. The report also covers the influence of the COVID-19 pandemic on the Cresol market. The pandemic has dynamically affected all aspects of life on a global scale along with drastic changes in the economy and market conditions. The report covers the currently fluctuating market scenario along with present and future assessment of the COVID-19 impact. The report encompasses the historical data, company overview, financial standing, and necessary information about the new and key players of the market.
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Some Key Highlights from the Report
- The para-cresol segment accounted for largest revenue share in 2021 due to rising adoption of para-cresol in food, cosmetic, and pharmaceutical industries. It is mainly used to make butylated hydroxytoluene, which is an antioxidant used in cosmetic, food, and pharmaceutical industries. Growing development of end-use industries creates high demand for para-cresol and is expected to drive revenue growth of this segment.
- The chemical segment is expected to account for a significantly large revenue share over the forecast period due to rising adoption of cresol as a variety of chemical intermediates. Cresols are aromatic monomethyl phenolic organic compounds used as chemical intermediates in production of plasticizers, polymer resins, and antioxidants. Rising development of the chemical industry across the globe is expected to drive revenue growth of this segment.
- The Asia Pacific market accounted for the largest revenue share in the global cresol market in 2021 due to growing adoption of cresols for production of pesticides and other agrochemicals in countries across the region, especially in China and India. In February 2022, for instance, India’s biggest cresol producer Atul Ltd. announced an increase in para Cresol manufacturing capacity from 28,000 to 36,000 tons per year due to high demand for this product in this country.
- On July 04, 2022, Japanese chemicals company Mitsui Chemicals created an environmentally friendly Milastomer Thermoplastic Vulcanizate (TPV) grade that uses recycled polyolefin as a primary component. TPV expands on material science abilities of Mitsui Chemicals Group (MCI Group), leveraging quality control and other know-how gained via compound synthesis.
The report offers a comprehensive overview of the competitive landscape and covers company profiles, production and manufacturing capacity, product portfolio, expansion strategies, and business initiatives such as mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches and brand promotions among others.
Prominent Players Analyzed in the Report:
Sasol Limited, Atul Ltd., Lanxess AG, Saudi Basic Industries Corporation, Konan Chemical Manufacturing Co., Ltd., Mitsui Chemicals, Dakota Gasification Company, Henan Hongye Technological Chemical Co., Ltd., RüTGERS Group, and Akrochem Corporation.
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Furthermore, the report divides the Cresol market into key segments and sub-segments to offer an analysis of the product type and application spectrum of the industry. It also offers predictions about the segments expected to show significant growth during the projected timeline.
Emergen Research has segmented the global cresol market based on product type, source, application, end-use, and region:
- Product Type Outlook (Revenue, USD Million, Volume, Kilo Tons; 2019-2030)
- Source Outlook (Revenue, USD Million, Volume, Kilo Tons; 2019-2030)
- Application Outlook (Revenue, USD Million, Volume, Kilo Tons; 2019-2030)
- Chemical Intermediates
- End-Use Outlook (Revenue, USD Million, Volume, Kilo Tons; 2019-2030)
- Paints & Coating
The report offers a comprehensive breakdown of the regional analysis of the market and subsequent country-wise analysis. The regional analysis of the market comprises of production volume information, consumption volume and patterns, revenue, and growth rate for the forecast period of 2022-2030. According to the regional analysis, the market is primarily spread over key geographical regions as follows:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The report covers key points of the market, including the standards, regulations, and policy changes applied by the government on the industry for the coming years. The report encompasses thorough research carried out by the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to pinpoint the growth trends and patterns. Factors likely to influence the growth of the market, current trends, opportunities, restraining factors, and business landscape are discussed in-depth in the market study.
Overview of the Cresol Market Report:
- Introduction, Product Scope, Market Overview, and Opportunities
- Analysis of the Manufacturers with sales, revenue, and price analysis
- Comprehensive analysis of the competitive landscape
- Extensive profiling of the key competitors along with their business strategies and market size
- Regional analysis of the market along with sales, revenue, market share, and global position
- Country-wise analysis of the market along with types, applications, and manufacturing
- Strategic recommendations to established players as well as new entrants
- In-depth analysis of the risks, restraints, and limitations in the Cresol industry
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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