Rockville, MD., June 27, 2024 (GLOBE NEWSWIRE) -- According to a new industry report published by Fact.MR, the global alkyl phenol derivative market size is projected to increase from US$ 524.9 million in 2024 to US$ 719.2 million by the end of 2034, equating to market expansion at a CAGR of 3.2% from 2024 to 2034.
The market for alkyl phenol derivatives is projected to expand at a moderate pace, mainly backed by their widespread use as antioxidants and surfactants. Alkyl phenols are used to produce alkyl phenol ethoxylates, which are widely used as surfactants in the industrial sector. As the industrial sector expands globally, the demand for alkyl phenol is projected to reach new heights.
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Alkyl phenol derivatives are commonly used in the production of lubricating oil, laundry, and dish detergents because they are excellent emulsifiers and solubilizers. These household products are always in demand, increasing the opportunities for alkyl phenol derivative suppliers. The popularity of fragrances has led to increased demand for alkyl phenols, which are used as a building block in chemicals.
Key Takeaways from the Market Study:
- East Asia is forecasted to occupy a global market share of 38.4% by the end of 2034.
- The market in North America is forecasted to expand at a CAGR of 3.4% from 2024 to 2034.
- Sales of alkyl phenol derivatives are projected to increase at a CAGR of 3.1% from 2024 to 2034 in Japan. In addition, the country is forecasted to occupy a market share of 28.8% in the East Asia region by 2034.
- The United States is estimated to account for 73.5% market share in the North American region in 2024.
- Based on product type, sales of para-tert-butyl-phenols are projected to rise at a CAGR of 3.3% through 2034.
“Alkyl phenol derivatives play a vital role in lubricant production by reducing the surface tension between oil and water. Their excellent emulsifying and solubilizing properties are driving their demand in several industries,” says a Fact.MR analyst.
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Rising Use of Phenolic Resins Generating Lucrative Opportunities for Alkyl Phenol Derivative Suppliers
Molded components find extensive applications across diverse industries like home appliances, automotive parts, and electrical components. Their outstanding dimensional stability, crucial in electrical equipment and kitchenware production, is driving their increasing use in molding resins. Phenolic resins play a vital role in thermoplastic manufacturing, especially for electrical parts like insulators and sockets. The United States stands as a significant market for phenolic resins, primarily fueled by the electrical and electronics industries.
More Valuable Insights:
Fact.MR, in its new offering, presents an unbiased analysis of the alkyl phenol derivative market for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product type (para-tert-butyl-phenol [PTBP], 2,4-di-tert-butyl-phenol [2,4 DTBP], 2,6-di-tert-butyl-phenol [2,6 DTBP], para-octyl phenol), application (phenolic resins, polycarbonate resins, UV stabilizers, surfactants, antioxidants, flavors & fragrances, chemical intermediates, others), and end use (paints & coatings, adhesives, perfumes, lubricants & oils, rubber & plastic, dyes & inks, food & beverages), across seven major regions of the world (North America, Latin America, Eastern Europe, Western Europe, East Asia, South Asia & Pacific, and MEA).
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