Cresol Market Size, Strategies, Competitive Landscape, Trends & Factor Analysis, 2021–2027
The global Cresol market is forecasted to reach USD 878.2 Million by 2027, according to a new report by Reports and Data. The increasing adoption of cresol derivatives as a precursor in the production of antioxidants in personal care and chemical intermediates is expected to stimulate demand for products over the next few years.
The ability of vitamin E to minimize the risks associated with heart attack, chest pain, and joint pain should drive demand for cresols during the forecast period. Vitamin E is mainly used as an antioxidant to prevent clotting and blood sugar problems. BHT is another essential antioxidant derived from the cresol isomers, which find significance in the food, cosmetic, and chemical industries.
Derivatives of ortho isomers are mainly used in the agrochemical and pesticide industries. The agrochemical segment accounted for more than one-fourth of the volume of the global ortho-cresol market in 2019. Growing concerns about crop protection and pest control are expected to stimulate demand for products in the agrochemical industry.
Growing concerns about the food shortage can be attributed to the lack of synergy between agricultural production and the growing demand for food in various regions of the Asia Pacific and Europe. The ability of ortho and meta isomer derivatives to improve pesticide performance is expected to stimulate demand for products as long-term plant growth regulators.
Key participants include Anhui Haihua Chemical Technology Co., Ltd., Dakota Gasification Company, Lanxess AG, Konan Chemical Manufacturing Co. Ltd., Ardison Oils & Electricals(P) Ltd, Mitsui Chemicals Inc., SABIC, RüTGERS Group, Nanjing Long Yan Chemical Co. Ltd., Merisol Group of Companies, among others.
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Further key findings from the report suggest
- Cresols are mainly used in chemical intermediates in the production of vitamin E. The increase in the consumption of vitamin E and its wide range of applications, from human nutritional supplements, from animal feed additives to antioxidants to polymers, will stimulate industry growth. Due to the chemical properties of its derivatives used as reagents for vitamin E, perfumes, dyes, and the pharmaceutical sector. The application of m-cresol is increasing in the pharmaceutical, food and beverage and agrochemical sectors due to its antimicrobial properties.
- Para-cresol held the largest share of the cresol market in 2018. It is commonly used in the production of butylated hydroxytoluene, an antioxidant used in the cosmetic, food, and pharmaceutical industries. Meta-cresol acts for the synthesis of resol as a chemical intermediate used in brake and clutch linings. The antimicrobial function of Meta-cresol has grown significantly in the applications of antiseptics and disinfectants.
- North America and Europe are estimated to have a significant market share in the global cresol market due to the early adoption of technology and innovations. Besides, the presence of the leading market players is based in this region. Also, Europe, especially Western Europe, is the primary consumer of ortho-cresol as a chemical intermediary. These are mainly used for the formulation of products, including adhesives, disinfectants, and cleaning products.
- Asia-Pacific region will experience a high market growth rate over the forecast period because of the presence of a vast population for the consumption of agricultural food products, particularly in China and India. As a result, the use of cresols in pesticides and other agrochemicals has exploded market demand over the forecast period. Besides, with a large population base suffering from diseases like diabetes, the use of cresols in pharmaceutical formulations is expected to increase during the forecast period.
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For the purpose of this report, Reports and Data have segmented into the global Cresol market on the basis of Type, Source, Application, and Region:
Type Outlook (Revenue, USD Million; 2017-2027)
- meta-Cresol
- para-Cresol
- ortho-Cresol
Source Outlook (Revenue, USD Million; 2017-2027)
- Natural
- Synthetic
Application Outlook (Revenue, USD Million; 2017-2027)
- Agrochemicals & Pesticides
- Antioxidants
- Fragrance
- Specialty Resins
- Dyes
- Vitamin E
- Butylated Hydroxytoluene (BHT)
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Regional analysis section covers analysis of the Cresol market in the major geographies of the world including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa with regards to production and consumption pattern, supply and demand ratio, import/export, revenue contribution, market share and market size, and presence of key players in the region.
Detailed Regional Analysis Covers:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- 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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