Cresols Market Rising demand for cresol to produce agrochemicals and pesticides is a key factor driving cresol market revenue growth
— Emergen Research
VANCOUVER, BC, CANADA, Aug. 1, 2022 /EINPresswire.com/ – 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 the latest analysis by Emergen Research. Increasing demand for cresol to produce agrochemicals and pesticides is a key factor driving market revenue growth.
Ortho-cresol derivatives are mostly used in agrochemical and pesticide industries and are considered a key component in agrochemicals. Growing concerns about crop protection and pest control are creating a huge demand for agrochemical products. The industry has flourished in recent years due to increasing need to defend against crop losses and increase yields and increase consumer demand for sustainably produced food. In 2021, China launched the 14th Five-Year Plan (FYP) for the development of the agrochemical industry from 2021 to 2025.
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Some key highlights from the report
· The para-cresol segment accounted for the largest revenue share in 2021 due to increasing 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. Increasing development of end-use industries is creating high demand for para-cresol and is expected to drive revenue growth of this segment.
· The chemical segment is expected to account for a significant major revenue share over the forecast period owing to increasing adoption of cresol as a variety of chemical intermediates. Cresols are aromatic monomethyl phenolic organic compounds used as chemical intermediates in the production of plasticizers, polymer resins and antioxidants. Increasing 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 the growing adoption of cresols for the production of pesticides and other agrochemicals in countries across the region, particularly in China and India. In February 2022, India’s largest cresol producer Atul Ltd. for example, announced an increase in para Cresol manufacturing capacity from 28,000 to 36,000 tons per year due to the high demand for this product in this country.
The latest report is the most up-to-date study providing 360° coverage of the Cresol industry which has been facing the brunt of the adverse economic impact of the COVID-19 outbreak since the beginning of this year. The global health crisis has affected almost every aspect of the business vertical and led to massive disruptions in the global Cresol market demand and supply chains. Researchers make predictions for the market scenario in the post-COVID era. The report also assesses the current market situation and estimates its future outcomes, taking into account the impact of the pandemic on the global economic landscape.
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Emergen Research has segmented the global cresol market on the basis of product type, source, application, end-use and region:
Product Type Outlook (Revenue, Million Dollar, Volume, Kiloton; 2019-2030)
Resource Outlook (Revenue, Million USD, Volume, Kiloton; 2019-2030)
Application Outlook (Revenue, Million USD, Volume, Kiloton; 2019-2030)
End-Use Outlook (Revenue, Million USD, Volume, Kiloton; 2019-2030)
Paint & Coating
This section of the report provides valuable insights into the geographical segmentation of the Cresol market, along with estimating the current and future market valuations based on the supply-demand dynamics and pricing structure of the leading regional segments. Furthermore, the growth prospects of each segment and sub-segment have been carefully described in the report.
The report classifies the global Cresol market into various regions including:
North America (USA, Canada)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Europe (UK, Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Middle East and Africa (Saudi Arabia, UAE, South Africa, Rest of MEA)
The global Cresol market is highly consolidated due to the presence of a large number of companies in this industry. The report discusses the current market status of these companies, their past performances, demand and supply graph, production and consumption patterns, sales network, distribution channels and growth opportunities in the market in detail. The report examines the strategic approach of key market players to expand their product offerings and strengthen their market foothold.
The leading market contenders listed in the report are as follows:
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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The report conducts a comparative assessment of the leading market players participating in the global Cresol market.
The report indicates the notable developments that have recently taken place in the Cresol industry
It details the strategic initiatives undertaken by the market competitors for business expansion.
It scrutinizes the micro and macroeconomic growth indicators as well as the essential elements of the Cresol market value chain.
The repot further notes the great growth prospects for the emerging market players in the leading regions of the market.
To view detailed TOC of Global Cresol Market Report visit @ https://www.emergenresearch.com/industry-report/cresol-market
Key questions addressed in the report:
Who are the leading players dominating the global Cresol market?
What factors are likely to hinder the global market growth during the forecast period?
Which regional market offers the most attractive growth opportunities to the companies operating in this market?
How does the availability of raw materials affect the demand for Cresol in this industry vertical?
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