Phenol Derivatives Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Phenol Derivatives Market is Segmented by Derivatives (Bisphenol-A, Phenolic Resin, Caprolactam, Adipic Acid, and Other Derivatives) and Geography (Asia-Pacific, North America, Europe, South America, and Middle East & Africa) The report offers the market sizes and forecasts for the phenol derivatives market in terms of value in USD million for all the above-mentioned segments.

Phenol Derivatives Market Size

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Phenol Derivatives Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR > 4.50 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration Low

Major Players

Phenol Derivatives Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Phenol Derivatives Market Analysis

The phenol derivatives market is expected to register a CAGR of over 4.5% during the forecast period.

The COVID-19 pandemic had a significant impact on the global phenol derivatives market. The pandemic disrupted the raw material supply chain, resulting in a decrease in phenol derivative production and sales. However, the market recovered with the increased demand from the automotive and construction industries for phenol derivatives in 2021. Furthermore, the growing demand for phenol derivatives from the electronics industry is expected to drive market growth.

  • Over the short term, growing demand from the pharmaceutical industry for intermediates in the production of drugs and medicines has driven the demand for phenol derivatives.
  • On the other hand, government restrictions on chemicals and the push for eco-friendly, biodegradable products are anticipated to hinder industry expansion.
  • Rising demand for bio-based phenol derivatives is likely to create opportunities for the market in the coming years.
  • Asia-Pacific is expected to dominate the phenol derivatives market due to the high demand for phenol derivatives from China, Japan, and India.

Phenol Derivatives Market Trends

This section covers the major market trends shaping the Phenol Derivatives Market according to our research experts:

Soaring Demand for Phenolic Resin

  • In phenol derivatives, phenolic resin dominates with high demand from the industrial sector. The condensation process between phenol and formaldehyde produces phenolic resins, commonly known as phenol-formaldehyde resins. Phenolic resins are extremely resistant to heat, electricity, chemical reactions, and changes in resin form.
  • Phenolic resins are utilized by numerous industries. To survive high temperatures, phenolic resin is employed as an ablative in aerospace sector rocket nozzles. It is used as an adhesive in the wood industry, as a coating material in the chemical manufacturing industries, as an abrasive in the metal industry, and as a foundry coating in the metal casting industries.
  • Phenolic resin is the key ingredient for thermoplastic production, which is used in the manufacturing of electrical parts such as insulators and sockets. One of the important markets for phenolic resins is the United States, which supplies the demand from the electrical and electronics sector.
  • According to the US Census Bureau, Electrical equipment, appliances, and component industry revenue in the United States were over USD 140 billion in 2021, and it was anticipated to reach USD 160 billion by the end of 2022.
  • One of the main consumers of phenolic resins, which are used to make plywood and flooring panels, is the construction sector. The European Panel Federation reports that 3.2 million square meters of plywood were manufactured in 2021 and that production was anticipated to reach a record level by the end of 2022.
  • Various end-user sectors, including home appliances, automotive commutators, and electrical and electronic components, frequently use molding components. Due to the compounds' outstanding dimensional stability, which is employed in the production of electrical equipment and kitchenware, the need for molding resins will continue to rise.
  • Overall, it is anticipated that the phenol derivatives market will be driven by the expanding phenolic resin industry over the forecast period.
United States Electronics Sales, USD billion, 2017-2021

Asia-Pacific Region to Dominate the Market

  • Asia-Pacific is expected to witness a high growth rate from the end-user industries, including consumer electronics, transportation, furniture, building, and construction, as well as oil and gas in China and India.
  • The derivative of phenol caprolactam is used in the production of carpets, industrial fibers, and textile fibers. The Indian government stated in February 2021 that seven major textile parks would be built during the following three years. The customs duty rate on caprolactam, nylon chips, nylon fiber, and nylon yarn was reduced to 5% as part of the government's decision to rationalize the tariffs on raw materials used to make artificial textiles.
  • A key raw element in the production of polycarbonate plastic is bisphenol-A. Due to its great strength and resilience to heat and electrical exposure, polycarbonate plastic is utilized in the automobile sector for a variety of goods. Helmets, headlamps, and car bumpers are a few examples of the applications.
  • In 2021, China produced 26.08 million vehicles, up 3% from the 25.23 million produced in the previous year, making it the country with the greatest automotive production base in the world, according to OICA. India produced 4.4 million automobiles in 2021, a 30% increase over the 3.38 million produced in 2021 from the previous year.
  • Japan's electronics industry is one of the world's largest. According to the Japan Electronics and Information Technology Industries Association (JEITA), Japan produced 10% of the world's electronics by 2021. Domestic production of electronics increased 11% Y-o-Y to more than USD 80 billion in 2021.
  • The electronics industry in South Korea is among the most advanced in the world. It is a major producer of consumer electronics, semiconductors, and other electronic components on a global scale. Some of the world's largest electronics companies, such as Samsung and LG, are headquartered in South Korea. South Korea produced USD 200.77 billion in 2021, up 25% from the previous year, according to the Korea International Trade Association (KITA).
  • Due to all such aforementioned factors, the Asia-Pacific-Pacific region's phenol derivatives market is anticipated to rise steadily throughout the forecast period.
South Korea Electronics Export, USD billion, 2017-2021

Phenol Derivatives Industry Overview

The phenol derivatives market is fragmented in nature. Some of the major players in the market include Altivia, AdvanSix Inc., BASF SE, Cepsa, Domo Chemical, DIC Corporation, Fibrant, and INEOS Capital Ltd.

Phenol Derivatives Market Leaders

  1. Altivia

  2. AdvanSix Inc.

  3. INEOS Phenol

  4. Mitsubishi Chemical Corporation

  5. Mitsui Chemicals Inc

*Disclaimer: Major Players sorted in no particular order

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Phenol Derivatives Market News

  • August 2022: A new bisphenol-A production facility was opened in Pune, India. This facility will reduce imports of bisphenol-A to India by promoting domestic manufacturing. 1.35 lakh tons of bisphenol-A are imported into India from the United States and China.
  • June 2022: INEOS Phenol launched its first bio-attributed product line for phenol, acetone alphamethylstyre in Gladbeck, Germany, and Antwerp, Belgium sites. These products are made without using fossil fuels as feedstock and are sold under the INVIRIDIS brand.

Phenol Derivatives Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Demand from the Pharmaceutical Industry

      2. 4.1.2 Increasing Use of Phenol Derivatives in the Production of Agrochemicals, Dyes, and Other Specialty Chemicals.

    2. 4.2 Restraints

      1. 4.2.1 Stringent Environmental Regulations

      2. 4.2.2 Volatility in Raw Material Prices

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size in Value)

    1. 5.1 By Derivatives

      1. 5.1.1 Bisphenol-A

      2. 5.1.2 Phenolic Resin

      3. 5.1.3 Caprolactam

      4. 5.1.4 Adipic Acid

      5. 5.1.5 Other Derivatives

    2. 5.2 By Geography

      1. 5.2.1 Asia-Pacific

        1. 5.2.1.1 China

        2. 5.2.1.2 India

        3. 5.2.1.3 Japan

        4. 5.2.1.4 South Korea

        5. 5.2.1.5 Rest of Asia-Pacific

      2. 5.2.2 North America

        1. 5.2.2.1 United States

        2. 5.2.2.2 Canada

        3. 5.2.2.3 Mexico

      3. 5.2.3 Europe

        1. 5.2.3.1 Germany

        2. 5.2.3.2 France

        3. 5.2.3.3 United Kingdom

        4. 5.2.3.4 Italy

        5. 5.2.3.5 Rest of the Europe

      4. 5.2.4 South America

        1. 5.2.4.1 Brazil

        2. 5.2.4.2 Argentina

        3. 5.2.4.3 Rest of South America

      5. 5.2.5 Middle East and Africa

        1. 5.2.5.1 Saudi Arabia

        2. 5.2.5.2 South Africa

        3. 5.2.5.3 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers, Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%)**Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 AdvanSix Inc.

      2. 6.4.2 Altivia

      3. 6.4.3 BASF SE

      4. 6.4.4 Cepsa

      5. 6.4.5 DIC Corporation

      6. 6.4.6 Domo Chemcial

      7. 6.4.7 Fibrant

      8. 6.4.8 Fujian Yongrong Jinjiang Co. Ltd

      9. 6.4.9 INEOS Capital Ltd

      10. 6.4.10 Mitsubishi Chemcial Corporation

      11. 6.4.11 Mitsui Chemcials Inc.

      12. 6.4.12 PTT Phenol Company Limited

      13. 6.4.13 Shell PLC

      14. 6.4.14 Solvay SA

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Growing Demand for Bio-based Phenol Derivatives

**Subject to Availability
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Phenol Derivatives Industry Segmentation

Phenol derivatives are organic compounds that are derived from phenol, an aromatic hydrocarbon. These derivatives are created by substituting alkyl, aryl, or halide groups for one or more hydrogen atoms in the phenol molecule.

The phenol derivatives market is segmented by derivatives and geography. By derivatives type, the market is segmented into bisphenol-A, phenolic resin, caprolactam, adipic acid, and others. The report covers the market size and forecast in 15 countries. For each segment, the market sizing and forecasts have been done in terms of value in USD million for all the above-mentioned segments.

By Derivatives
Bisphenol-A
Phenolic Resin
Caprolactam
Adipic Acid
Other Derivatives
By Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
France
United Kingdom
Italy
Rest of the Europe
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
Saudi Arabia
South Africa
Rest of Middle East and Africa
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Phenol Derivatives Market Research FAQs

The Phenol Derivatives Market is projected to register a CAGR of greater than 4.5% during the forecast period (2024-2029)

Altivia , AdvanSix Inc. , INEOS Phenol , Mitsubishi Chemical Corporation and Mitsui Chemicals Inc are the major companies operating in the Phenol Derivatives Market.

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia-Pacific accounts for the largest market share in Phenol Derivatives Market.

The report covers the Phenol Derivatives Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Phenol Derivatives Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Phenol Derivatives Industry Report

Statistics for the 2024 Phenol Derivatives market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Phenol Derivatives analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Phenol Derivatives Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)