Dublin, Sept. 11, 2023 (GLOBE NEWSWIRE) -- The "Resorcinol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global resorcinol market achieved a value of $475.9 million in 2022. Looking ahead, the market is projected to reach $551.6 million by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 2.42% during the period from 2023 to 2028.
Resorcinol, a white crystalline solid soluble in alcohol, ether, and water, is used in various industries such as rubber, chemicals, automotive, and construction. It enhances adhesive strength, acts as a wood-binding agent, and finds applications in fire retardants, dyes, UV stabilizers, explosives, and herbicides.
Market Drivers and Trends
- The growing automotive industry and increasing wood usage in construction are driving the market. Resorcinol is used as a wood-binding agent due to its cost-effectiveness, stability, and resistance to various factors.
- The compound is used in manufacturing light screening agents for UV protection of plastic products.
- Resorcinol is used as a binding medium for rubber and reinforcing cords in automotive products like belts, tires, and rubber-coated fabrics.
- It's utilized in non-halogenated flame-retardants and agricultural chemicals production.
- Medical applications include use as an antiseptic and disinfectant in skincare products for treating various skin-related ailments.
Market Segmentation
The global resorcinol market is segmented by application, production method, end-use industry, and region:
Application:
- Tire and Rubber Products
- Wood Adhesives and Binders
- UV Products and Dyes
- Flame Retardants
- Others
Production Method:
- Benzene Disulfonation
- Hydroperoxidation of Meta-Diisopropylbenzene
- Hydrolysis of Meta-Phenylenediamine
End-Use Industry:
- Automotive
- Building and Construction
- Healthcare
- Electrical and Electronics
- Others
Region:
- Asia Pacific
- Europe
- North America
- Middle East and Africa
- Latin America
Competitive Landscape
Key players in the resorcinol market include 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., and more.
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 | 136 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $475.9 Million |
| Forecasted Market Value (USD) by 2028 | $551.6 Million |
| Compound Annual Growth Rate | 2.5% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/3wd8b3
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