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The growing demand for phenol as an industrial cleaner for machinery parts and electronic devices is primarily driving the global market.
ALBANY, NEW YORK, UNITED STATES, October 14, 2021 /EINPresswire.com / -- Phenol, or benzenol, refers to an aromatic organic compound that is highly volatile and toxic in nature. It is soluble in water based on its strong hydrogen bonding properties. Phenol is widely utilized for manufacturing numerous household products, including disinfectants, detergents, floor cleaners, etc., and as an intermediate in the synthesis of various chemical compounds. It is extensively used as a derivative in the production of cosmetics, epoxies, nylon, herbicides, etc.
The growing demand for phenol as an industrial cleaner for machinery parts and electronic devices is primarily driving the global market. Furthermore, the rising number of construction activities has augmented the usage of phenolic resins for manufacturing plywood, laminated beams, flooring panels, etc., which is also catalyzing the market growth.
Besides this, phenol finds wide applications in the production of drugs, antioxidants, inks, disinfectant liquids, thermosetting plastics, paper composite panels, etc. Apart from this, continuous advancements in phenol production and processing technologies are anticipated to further fuel the phenol market in the coming years.
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Syndicated Analytics' latest report titled“Phenol Production Cost Analysis 2021-2026: Capital Investment, Manufacturing Process, Operating Cost, Raw Materials, Industry Trends and Revenue Statistics” includes all the essential aspects that are required to understand and venture into the phenol industry. This report is based on the latest economic data, and it presents comprehensive and detailed insights regarding the primary process flow, raw material requirements, reactions involved, utility costs, operating costs, capital investments, pricing, and margins. It is a must-read for all entrepreneurs, investors, consultants, researchers, business strategists, and those with any form of stake in the phenol industry.
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Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally, and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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