According to the latest report by IMARC Group, titled “Phenol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global phenol market size reached US$ 20.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 28.7 Billion by 2027, exhibiting a growth rate (CAGR) of 5.37% during 2022-2027.

Phenol (C₆H₅OH) is a white crystalline, solid, aromatic compound that is highly volatile in nature. It is produced by the reaction of propene and benzene using an acid catalyst. It is more soluble in water than alcohol and has a higher boiling point, due to which it is primarily used in medical procedures. Phenol is also used as a derivate in the production of nylon, herbicides, household products, epoxies, and cosmetics and as an intermediate for synthesizing chemical compounds. Apart from this, it is used as a key ingredient in numerous treatments and laboratory applications, including chemical matrixectomy, sore throat spray, phenol injection, vaccine prevention, and oral analgesics.

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Global Phenol Market Trends:

The growing product demand across the chemical and pharmaceutical industries represents one of the primary factors providing a boost to the market growth. Apart from this, the rising product application as a feedstock and surging demand for phenol as an industrial cleaner for electronic devices and machinery are accelerating the market growth. Additionally, the shifting focus on using sustainable energy due to increasing prices of crude oil has surged the need for epoxy resins, which, in turn, is boosting the market growth. Apart from this, significant improvements in phenol production technology, rising product application in the production of laminated beams, plywood, and flooring panels, and rapid industrialization are positively supporting the market growth. 

Phenol Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the phenol market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• Ineos Phenol
• Cepsa Quimica
• Mitsui Chemicals
• Formosa Chemicals and Fibers
• Kumho P & B Chemicals

Key Market Segmentation:

The report has segmented the global phenol market on the basis of end-use and region.

Breakup by End-Use:

• Bisphenol A
• Phenolic Resins
• Caprolactam
• Alkyl Phenyls
• Others

Regional Insights:

• Asia Pacific
• Europe
• North America
• Middle East and Africa
• Latin America

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Key Highlights of the Report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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