(MENAFN- GlobeNewsWire - Nasdaq) Global Resorcinol industry Set to Reach $595.4 Million by 2032 with a Steady CAGR of 2.24%Dublin, Dec. 12, 2024 (GLOBE NEWSWIRE) -- The "Resorcinol market by Application, Production Method, End-use Industry, and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global resorcinol market size reached US$ 487.7 million in 2023. Looking forward, the market is projected to reach US$ 595.4 million by 2032, exhibiting a growth rate (CAGR) of 2.24% during 2023-2032.
This report provides a deep insight into the global resorcinol market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc.
The growing automotive industry, along with the increasing usage of wood in the construction of residential and commercial complexes across the globe, is among the key factors driving the growth of the market. Resorcinol is widely used as a wood-binding agent, owing to its high cost-effectiveness, chemical stability, resistance to solvents, salt-water, acids, and oil. It also finds applications in the manufacturing of light screening agents to protect plastic products against ultraviolet (UV) rays. Furthermore, 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 acting as another growth-inducing factor as these products utilize resorcinol as a binding medium for rubber and reinforcing cords. Additionally, increasing utilization of the compound in the production of non-halogenated flame-retardants and various agricultural chemicals is also providing a boost to the market growth. Moreover, the increasing prevalence of skin-related medical ailments is increasing the utilization of resorcinol as an antiseptic and disinfectant in skincare products for the treatment of acne, psoriasis, eczema, calluses, and warts.
Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global resorcinol market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on application, production method, and end-use industry.
Breakup by Application:
Tire and Rubber Products Wood Adhesives and Binders UV Products and Dyes Flame Retardants Others
Based on the application, tire and rubber products currently account for the highest market share.
Breakup by Production Method:
Benzene Disulfonation Hydroperoxidation of Meta-Diisopropylbenzene Hydrolysis of Meta-Phenylenediamine
Based on the production method, hydroperoxidation of meta-diisopropylbenzene currently holds the majority of the market share.
Breakup by End-use Industry:
Automotive Building and Construction Healthcare Electrical and Electronics Others
Based on the end-use, automotive industry currently accounts for the largest market share.
Breakup by Region:
Asia Pacific China Japan India South Korea Australia Indonesia Others
Europe Germany France United Kingdom Italy Spain Russia Others
North America Middle East and Africa Turkey Saudi Arabia Iran United Arab Emirates Others
Latin America Brazil Mexico Argentina Colombia Others
Based on geography, Asia Pacific currently represents the biggest market for resorcinol.
Competitive Landscape
The report has also analysed the competitive landscape of the market with some of the key players being:
Akrochem Corporation Aldon Corporation Alfa Aesar (Thermo Fisher Scientific Inc.) Amino-Chem Co. Ltd. Atul Ltd. Dynea AS Euram Chemicals Ltd. Indspec Chemical Corporation Jiangsu Zhongdan Group Co. Ltd. Mitsui Chemicals Inc. Napp Technologies LLC Sigma-Aldrich Corporation Sumitomo Chemicals Co. Ltd.
Key Questions Answered in This Report:
How has the global resorcinol market performed so far and how will it perform in the coming years? What are the key regional markets in the global resorcinol industry? What has been the impact of COVID-19 on the global resorcinol market? What is the breakup of the market based on the application? What is the breakup of the market based on the production method? What is the breakup of the market based on the end-use industry? What are the various stages in the value chain of the global resorcinol industry? What are the key driving factors and challenges in the global resorcinol industry? What is the structure of the global resorcinol industry and who are the key players? What is the degree of competition in the global resorcinol industry?
Key Attributes
| Report Attribute | Details |
| No. of Pages | 137 |
| Forecast Period | 2023-2032 |
| Estimated Market Value (USD) in 2023 | $487.7 Billion |
| Forecasted Market Value (USD) by 2032 | $595.4 Billion |
| Compound Annual Growth Rate | 2.2% |
| Regions Covered | Global |
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