Phenol Market
Phenol Market Study by Cumene Phenol, Dow Phenol, and Rasching Hooker Phenol for Bisphenol-A, Phenol Formaldehyde Resin, Nylon-KA Oil, PPO/Orthooxylenol, and Alkyl Phenol Production from 2024 to 2034
Analysis of Phenol Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Phenol Market Outlook (2024 to 2034)
The global phenol market size is expected to reach US$ 26.13 billion in 2024. Fact.MR’s latest industry analysis forecasts the market to expand at 4.8% CAGR and reach US$ 41.77 billion by 2034-end.
Phenol, known for its colorless to light-pink appearance, is a crystalline solid with a sweet acrid odor. It is an organic compound that is soluble in water. This acid is used in various fields such as medicine, manufacturing, and petroleum. Its versatile applications across industries are driving market growth. Major companies have heavily invested in research to explore discoveries, thus contributing to the overall expansion of the phenol market size.
Key Market Growth Drivers
- Increasing demand for phenol in the chemical and pharmaceutical industries is fueling phenol market growth. It serves as a key starting material for various products, including plastics, explosives like picric acid, and pharmaceutical drugs such as aspirin. The most important chemical derived from phenol is bisphenol A, which is further used to make polycarbonate.
- Phenol is used extensively for manufacturing medicines such as slimicides, antiseptics, and disinfectants. Phenol helps relieve itching and disinfects the skin, making it a desired product across all age groups in the market. It can also be used as an oral analgesic to treat diseases such as pharyngitis. Phenol has also been used in surgical ingrown toenail treatment called phenolization.
- Phenol reacts with formaldehyde to produce phenolic resins, which are used in the electronics, ballistics, aerospace, rail transit, and mine ventilation industries.
- Bakelite, which is a by-product of polymerization, is also extensively used in the electrical industry in the manufacturing of electrical switches. Phenol possesses the capacity to withstand extreme heat and exhibits resistance to chemicals, making it a desired choice in the electrical industry in the production of heat-based appliances.
| Report Attributes | Details |
|---|---|
| Phenol Market Size (2024E) | US$ 26.13 Billion |
| Forecasted Market Value (2034F) | US$ 41.77 Billion |
| Global Market Growth Rate (2024 to 2034) | 4.8% CAGR |
| Canada Market Growth Rate (2024 to 2034) | 5.8% CAGR |
| China Market Value (2034F) | US$ 9.19 Billion |
| North America Market Share (2024E) | 28.6% |
| East Asia Market Share (2034F) | 38.4% |
| Key Companies Profiled | Mitsubishi Chemical Corporation; Shell; INEOS; LG Chem; Cepsa; Mitsui Chemicals Inc.; Solvay; Royal Dutch Shell |
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What is Paving the Way for Increased Sales of Phenols Worldwide?
“Rising Need for Protective Skincare in Urban Environments”
Phenol is an effective ingredient used in disinfectants, preventing or inhibiting the growth and reproduction of microorganisms. This quality aids in skin cleansing. People living in urban areas face exposure to harmful elements due to heavy traffic and dusty environments. Consequently, they turn to skin creams containing phenol to protect themselves from these environmental hazards.
The United States Food and Drug Administration (FDA) has approved the use of phenol in various drug products including antiseptics and oral healthcare analgesics. This approval has contributed to the increasing demand for cosmetics and other skincare products containing phenol. Growing awareness of skin health is driving demand for lotions, facial masks, sunscreen, and scrubs, leading to increased use of phenol in cosmetic products.
“Widespread Use of Phenols in Air Fresheners to Mask Odors in Rooms”
Due to its effectiveness as a disinfectant, phenol has been incorporated into floor-cleaning products. Phenol is commonly blended with reagents for use as an effective decontaminating agent for toilets, stables, floors, and drains. Air fresheners also use phenol to eliminate odors in rooms, creating a pleasant aromatic environment.
This has allowed phenol manufacturers to establish their presence in the cleaning product market by collaborating with industry giants and investing in the production of such cleansers. As a slimicide, phenol has also been utilized in mouthwashes and throat lozenges, contributing to a positive impact on the market. This has provided phenol suppliers with new opportunities to expand their business.
What is Unfavorably Impacting Demand Growth for Phenol?
“Perception of Pure Phenol as Toxic to Humans”
Phenol is mixed with other components before use due to its harmful nature in pure form. It can be corrosive to the eyes, skin, and other body parts. Manufacturers must process phenol and add other components before its end use, which increases costs and reduces profit margins for suppliers.
Prolonged exposure to phenol may result in seizures or airway compromise. These drawbacks compel manufacturers to conduct thorough quality checks on their products to prevent accidents and maintain their reputation. Phenol suppliers must exercise caution and invest in quality control. Suppliers are conducting research to better understand the nature of phenol.
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Country-wise Insights
What is the Demand Outlook for Phenol in the United States?
“Robust Automotive Industry Generating Need for Durable and Heat-resistant Components”
| Attribute | United States |
|---|---|
| Market Value (2024E) | US$ 5.36 billion |
| Growth Rate (2024 to 2034) | 5.2% CAGR |
| Projected Value (2034F) | US$ 8.93 Billion |
Phenolic resins and derivatives, such as polycarbonate, are widely used in the automotive industry due to their superior heat resistance and durability. The automobile manufacturing process involves heating iron and steel, which may require the use of phenol to enhance the durability of components.
Phenolic resins are used in various applications such as filters, separators, coatings, and laminates due to their mechanical strength. The United States boasts a robust automotive industry with major players that rigorously focus on enhancing the effectiveness and efficiency of their products.
Why are Phenol Suppliers Thriving in China?
“Government Initiatives Facilitating Easy Access to Raw Materials”
| Attribute | China |
|---|---|
| Market Value (2024E) | US$ 5.43 billion |
| Growth Rate (2024 to 2034) | 5.4% CAGR |
| Projected Value (2034F) | US$ 9.19 Billion |
China has established itself as a global manufacturing hub, attracting major players from around the world to establish production facilities in the nation. Its diverse production units provide easy access to raw materials for suppliers, minimizing costs. These factors make China an attractive market for phenol suppliers. The government is supporting key players by relaxing regulations, making the market free for players to engage in business and make profits.
Category-wise Evaluation
What Accounts for Extensive Use of Phenol Derivatives?
“Extensive Use of Phenol Derivatives in PPO/Orthooxylenol Production as Precursor”
| Attribute | Phenol for PPO/Orthooxylenol Production |
|---|---|
| Segment Value (2024E) | US$ 8.1 Billion |
| Growth Rate (2024 to 2034) | 4.6% CAGR |
| Projected Value (2034F) | US$ 13.2 Billion |
Orthooxylenol is a fragrant compound commonly derived from crude oil sources that uses phenol as a precursor. It primarily helps in the production of plasticizers and unsaturated polyester resins used in fiber-reinforced materials. In addition, orthooxylenol is utilized in the production of phthalic anhydride, drugs, and various other chemicals.
Orthooxylenol is known for its ease of oxidation, making it a valuable solvent in industries such as printing, rubber, and leather. This property has increased its popularity, driving demand in the industry. Therefore, this segment occupies a dominant phenol market share.
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Business Landscape
Key players in the phenol market such as Mitsubishi Chemical Corporation, Shell, and INEOS are keeping a strong eye on their quality checks considering the toxicity of their products. These quality checks have further enabled them to win the trust of end industries making their legs strong in the market.
These key players are further investigating various techniques to further enhance the quality and looking for new areas to develop. New players in the market are collaborating with the key players and mimicking the efforts of industry giants to assert their dominance in the market, thus contributing to phenol market trends.
- In May 2021, Mitsubishi Corporation collaborated with South Pole to generate and sell carbon credits derived from carbon removal technologies.
Key Segments of Phenol Market Research
-
By Manufacturing Process :
- Cumene Phenol Manufacturing Process
- Dow Phenol Manufacturing Process
- Raschig-Hooker Phenol Manufacturing Process
-
By End User :
- Bisphenol-A Production
- Phenol-Formaldehyde Resin Production
- Nylon-KA Oil Production
- Alkyl Phenol Production
- Phenol for PPO/Orthooxylenol Production
-
By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
Table of Content
- 1. Executive Summary
- 2. Market Overview
- 3. Key Market Trends
- 4. Key Success Factors
- 5. Market Background
- 6. Global Market Volume (Units) Analysis 2018 to 2023 and Forecast, 2024 to 2034
- 7. Global Market - Pricing Analysis
- 8. Global Market Value Analysis 2018 to 2023 and Forecast, 2024 to 2034
- 9. Global Market Analysis 2018 to 2023 and Forecast 2024 to 2034, by Manufacturing Process
- 9.1. Cumene Manufacturing Process
- 9.2. Dow Manufacturing Process
- 9.3. Raschig-Hooker Manufacturing Process
- 10. Global Market Analysis 2018 to 2023 and Forecast 2024 to 2034, by End User
- 10.1. Bisphenol-A Production
- 10.2. Phenol-Formaldehyde Resin Production
- 10.3. Nylon-KA Oil Production
- 10.4. Alkyl Production
- 10.5. For PPO/Orthooxylenol Production
- 11. Global Market Analysis 2018 to 2023 and Forecast 2024 to 2034, by Region
- 11.1. North America
- 11.2. Latin America
- 11.3. Europe
- 11.4. East Asia
- 11.5. South Asia
- 11.6. Oceania
- 11.7. Middle East and Africa (MEA)
- 12. North America Market Analysis 2018 to 2023 and Forecast 2024 to 2034
- 13. Latin America Market Analysis 2018 to 2023 and Forecast 2024 to 2034
- 14. Europe Market Analysis 2018 to 2023 and Forecast 2024 to 2034
- 15. South Asia Market Analysis 2018 to 2023 and Forecast 2024 to 2034
- 16. East Asia Market Analysis 2018 to 2023 and Forecast 2024 to 2034
- 17. Oceania Market Analysis 2018 to 2023 and Forecast 2024 to 2034
- 18. Middle East and Africa Market Analysis 2018 to 2023 and Forecast 2024 to 2034
- 19. Key and Emerging Countries Market Analysis 2018 to 2023 and Forecast 2024 to 2034
- 20. Market Structure Analysis
- 21. Competition Analysis
- 21.1. Mitsubishi Chemical Corporation
- 21.2. Shell
- 21.3. INEOS
- 21.4. LG Chem
- 21.5. Cepsa
- 21.6. Mitsui Chemicals Inc.
- 21.7. Solvay
- 21.8. Royal Dutch Shell
- 22. Assumptions and Acronyms Used
- 23. Research Methodology
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List Of Table
Table 01: Global Market Volume (‘000 Units) Analysis and Opportunity Assessment 2018 to 2034, By Manufacturing Process
Table 02: Global Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2034, By Manufacturing Process
Table 03: Global Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2034, By End User
Table 04: Global Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2034, By Region
Table 05: North America Market Value (US$ Mn) Analysis 2018 to 2023 and Forecast 2024 to 2034, By Country
Table 06: North America Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2034, By Manufacturing Process
Table 07: North America Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2034, By End User
Table 08: Latin America Market Value (US$ Mn) Analysis 2018 to 2023 and Forecast 2024 to 2034, By Country
Table 09: Latin America Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2034, By Manufacturing Process
Table 10: Latin America Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2034, By End User
Table 11: Europe Market Value (US$ Mn) Analysis 2018 to 2023 and Forecast 2024 to 2034, By Country
Table 12: Europe Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2034, By Manufacturing Process
Table 13: Europe Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2034, By End User
Table 14: South Asia Market Value (US$ Mn) Analysis 2018 to 2023 and Forecast 2024 to 2034, By Country
Table 15: South Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2034, By Manufacturing Process
Table 16: South Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2034, By End User
Table 17: East Asia Market Value (US$ Mn) Analysis 2018 to 2023 and Forecast 2024 to 2034, By Country
Table 18: East Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2034, By Manufacturing Process
Table 19: East Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2034, By End User
Table 20: Oceania Market Value (US$ Mn) Analysis 2018 to 2023 and Forecast 2024 to 2034, By Country
Table 21: Oceania Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2034, By Manufacturing Process
Table 22: Oceania Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2034, By End User
Table 23: Middle East and Africa Market Value (US$ Mn) Analysis 2018 to 2023 and Forecast 2024 to 2034, By Country
Table 24: Middle East and Africa Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2034, By Manufacturing Process
Table 25: Middle East and Africa Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2034, By End User
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List Of Figures
Figure 01: Global Market Volume (in 000' Units) Analysis, 2018 to 2023
Figure 02: Global Market Volume Forecast (in 000' Units), 2024 to 2034
Figure 03: Pricing Analysis (US$) Per Manufacturing Process, By Region, 2023
Figure 04: Pricing Analysis (US$) Per Manufacturing Process, By Region, 2023
Figure 05: Global Market Value Analysis (US$ Mn), 2018 to 2023
Figure 06: Global Market Value Forecast (US$ Mn), 2024 to 2034
Figure 07: Global Market Absolute $ Opportunity, 2024 to 2034
Figure 08: Global Market Share Analysis (%), By Manufacturing Process, 2024 to 2034
Figure 09: Global Market Y-o-Y Analysis (%), By Manufacturing Process, 2024 to 2034
Figure 10: Global Market Attractiveness Analysis by Manufacturing Process, 2024 to 2034
Figure 11: Global Market Share Analysis (%), By End User, 2024 to 2034
Figure 12: Global Market Y-o-Y Analysis (%), By End User, 2024 to 2034
Figure 13: Global Market Attractiveness Analysis by End User, 2024 to 2034
Figure 14: Global Market Share Analysis (%), By Region, 2024 to 2034
Figure 15: Global Market Y-o-Y Analysis (%), By Region, 2024 to 2034
Figure 16: Global Market Attractiveness Analysis by Region, 2024 to 2034
Figure 17: North America Market Value Share, By Manufacturing Process, 2024 (E)
Figure 18: North America Market Value Share, By End User, 2024 (E)
Figure 19: North America Market Value Share, By Country, 2024 (E)
Figure 20: North America Market Value Analysis (US$ Mn), 2018 to 2023
Figure 21: North America Market Value Forecast (US$ Mn), 2024 to 2034
Figure 22: North America Market Attractiveness Analysis by Manufacturing Process, 2024 to 2034
Figure 23: North America Market Attractiveness Analysis by End User, 2024 to 2034
Figure 24: North America Market Attractiveness Analysis by Country, 2024 to 2034
Figure 25: Latin America Market Value Share, By Manufacturing Process, 2024 (E)
Figure 26: Latin America Market Value Share, By End User, 2024 (E)
Figure 27: Latin America Market Value Share, By Country, 2024 (E)
Figure 28: Latin America Market Value Analysis (US$ Mn), 2018 to 2023
Figure 29: Latin America Market Value Forecast (US$ Mn), 2024 to 2034
Figure 30: Latin America Market Attractiveness Analysis by Manufacturing Process, 2024 to 2034
Figure 31: Latin America Market Attractiveness Analysis by End User, 2024 to 2034
Figure 32: Latin America Market Attractiveness Analysis by Country, 2024 to 2034
Figure 33: Europe Market Value Share, By Manufacturing Process, 2024 (E)
Figure 34: Europe Market Value Share, By End User, 2024 (E)
Figure 35: Europe Market Value Share, By Country, 2024 (E)
Figure 36: Europe Market Value Analysis (US$ Mn), 2018 to 2023
Figure 37: Europe Market Value Forecast (US$ Mn), 2024 to 2034
Figure 38: Europe Market Attractiveness Analysis by Manufacturing Process, 2024 to 2034
Figure 39: Europe Market Attractiveness Analysis by End User, 2024 to 2034
Figure 40: Europe Market Attractiveness Analysis by Country, 2024 to 2034
Figure 41: South Asia Market Value Share, By Manufacturing Process, 2024 (E)
Figure 42: South Asia Market Value Share, By End User, 2024 (E)
Figure 43: South Asia Market Value Share, By Country, 2024 (E)
Figure 44: South Asia Market Value Analysis (US$ Mn), 2018 to 2023
Figure 45: South Asia Market Value Forecast (US$ Mn), 2024 to 2034
Figure 46: South Asia Market Attractiveness Analysis by Manufacturing Process, 2024 to 2034
Figure 47: South Asia Market Attractiveness Analysis by End User, 2024 to 2034
Figure 48: South Asia Market Attractiveness Analysis by Country, 2024 to 2034
Figure 49: East Asia Market Value Share, By Manufacturing Process, 2024 (E)
Figure 50: East Asia Market Value Share, By End User, 2024 (E)
Figure 51: East Asia Market Value Share, By Country, 2024 (E)
Figure 52: East Asia Market Value Analysis (US$ Mn), 2018 to 2023
Figure 53: East Asia Market Value Forecast (US$ Mn), 2024 to 2034
Figure 54: East Asia Market Attractiveness Analysis by Manufacturing Process, 2024 to 2034
Figure 55: East Asia Market Attractiveness Analysis by End User, 2024 to 2034
Figure 56: East Asia Market Attractiveness Analysis by Country, 2024 to 2034
Figure 57: Oceania Market Value Share, By Manufacturing Process, 2024 (E)
Figure 58: Oceania Market Value Share, By End User, 2024 (E)
Figure 59: Oceania Market Value Share, By Country, 2024 (E)
Figure 60: Oceania Market Value Analysis (US$ Mn), 2018 to 2023
Figure 61: Oceania Market Value Forecast (US$ Mn), 2024 to 2034
Figure 62: Oceania Market Attractiveness Analysis by Manufacturing Process, 2024 to 2034
Figure 63: Oceania Market Attractiveness Analysis by End User, 2024 to 2034
Figure 64: Oceania Market Attractiveness Analysis by Country, 2024 to 2034
Figure 65: Middle East and Africa Market Value Share, By Manufacturing Process, 2024 (E)
Figure 66: Middle East and Africa Market Value Share, By End User, 2024 (E)
Figure 67: Middle East and Africa Market Value Share, By Country, 2024 (E)
Figure 68: Middle East and Africa Market Value Analysis (US$ Mn), 2018 to 2023
Figure 69: Middle East and Africa Market Value Forecast (US$ Mn), 2024 to 2034
Figure 70: Middle East and Africa Market Attractiveness Analysis by Manufacturing Process, 2024 to 2034
Figure 71: Middle East and Africa Market Attractiveness Analysis by End User, 2024 to 2034
Figure 72: Middle East and Africa Market Attractiveness Analysis by Country, 2024 to 2034
Figure 73: UNITED STATES Market Value Analysis (US$ Mn), 2024 & 2034
Figure 74: UNITED STATES Market Value Share, By Manufacturing Process, 2024 (E)
Figure 75: UNITED STATES Market Value Share, By End User, 2024 (E)
Figure 76: Canada Market Value Analysis (US$ Mn), 2024 & 2034
Figure 77: Canada Market Value Share, By Manufacturing Process, 2024 (E)
Figure 78: Canada Market Value Share, By End User, 2024 (E)
Figure 79: Mexico Market Value Analysis (US$ Mn), 2024 & 2034
Figure 80: Mexico Market Value Share, By Manufacturing Process, 2024 (E)
Figure 81: Mexico Market Value Share, By End User, 2024 (E)
Figure 82: Brazil Market Value Analysis (US$ Mn), 2024 & 2034
Figure 83: Brazil Market Value Share, By Manufacturing Process, 2024 (E)
Figure 84: Brazil Market Value Share, By End User, 2024 (E)
Figure 85: UNITED KINGDOM Market Value Analysis (US$ Mn), 2024 & 2034
Figure 86: UNITED KINGDOM Market Value Share, By Manufacturing Process, 2024 (E)
Figure 87: UNITED KINGDOM Market Value Share, By End User, 2024 (E)
Figure 88: Germany Market Value Analysis (US$ Mn), 2024 & 2034
Figure 89: Germany Market Value Share, By Manufacturing Process, 2024 (E)
Figure 90: Germany Market Value Share, By End User, 2024 (E)
Figure 91: France Market Value Analysis (US$ Mn), 2024 & 2034
Figure 92: France Market Value Share, By Manufacturing Process, 2024 (E)
Figure 93: France Market Value Share, By End User, 2024 (E)
Figure 94: Italy Market Value Analysis (US$ Mn), 2024 & 2034
Figure 95: Italy Market Value Share, By Manufacturing Process, 2024 (E)
Figure 96: Italy Market Value Share, By End User, 2024 (E)
Figure 97: Spain Market Value Analysis (US$ Mn), 2024 & 2034
Figure 98: Spain Market Value Share, By Manufacturing Process, 2024 (E)
Figure 99: Spain Market Value Share, By End User, 2024 (E)
Figure 100: Russia Market Value Analysis (US$ Mn), 2024 & 2034
Figure 101: Russia Market Value Share, By Manufacturing Process, 2024 (E)
Figure 102: Russia Market Value Share, By End User, 2024 (E)
Figure 103: China Market Value Analysis (US$ Mn), 2024 & 2034
Figure 104: China Market Value Share, By Manufacturing Process, 2024 (E)
Figure 105: China Market Value Share, By End User, 2024 (E)
Figure 106: Japan Market Value Analysis (US$ Mn), 2024 & 2034
Figure 107: Japan Market Value Share, By Manufacturing Process, 2024 (E)
Figure 108: Japan Market Value Share, By End User, 2024 (E)
Figure 109: South Korea Market Value Analysis (US$ Mn), 2024 & 2034
Figure 110: South Korea Market Value Share, By Manufacturing Process, 2024 (E)
Figure 111: South Korea Market Value Share, By End User, 2024 (E)
Figure 112: India Market Value Analysis (US$ Mn), 2024 & 2034
Figure 113: India Market Value Share, By Manufacturing Process, 2024 (E)
Figure 114: India Market Value Share, By End User, 2024 (E)
Figure 115: ASEAN Market Value Analysis (US$ Mn), 2024 & 2034
Figure 116: ASEAN Market Value Share, By Manufacturing Process, 2024 (E)
Figure 117: ASEAN Market Value Share, By End User, 2024 (E)
Figure 118: Australia Market Value Analysis (US$ Mn), 2024 & 2034
Figure 119: Australia Market Value Share, By Manufacturing Process, 2024 (E)
Figure 120: Australia Market Value Share, By End User, 2024 (E)
Figure 121: New Zealand Market Value Analysis (US$ Mn), 2024 & 2034
Figure 122: New Zealand Market Value Share, By Manufacturing Process, 2024 (E)
Figure 123: New Zealand Market Value Share, By End User, 2024 (E)
Figure 124: GCC Countries Market Value Analysis (US$ Mn), 2024 & 2034
Figure 125: GCC Countries Market Value Share, By Manufacturing Process, 2024 (E)
Figure 126: GCC Countries Market Value Share, By End User, 2024 (E)
Figure 127: Turkey Market Value Analysis (US$ Mn), 2024 & 2034
Figure 128: Turkey Market Value Share, By Manufacturing Process, 2024 (E)
Figure 129: Turkey Market Value Share, By End User, 2024 (E)
Figure 130: South Africa Market Value Analysis (US$ Mn), 2024 & 2034
Figure 131: South Africa Market Value Share, By Manufacturing Process, 2024 (E)
Figure 132: South Africa Market Value Share, By End User, 2024 (E)
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Competitive landscape highlights only certain players
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- FAQs -
How big is the phenol market size in 2024?
The global phenol market is calculated at US$ 26.13 billion for 2024.
What are the future projections for the phenol chemical market?
Demand for phenol is foreseen to rise at a CAGR of 4.8% from 2024 to 2034.
What is the forecasted market value for phenol by 2034?
Sales of phenol are projected to reach US$ 41.77 billion by 2034.
Which East Asian country is a key market for phenol acids?
The South Korea market is set to register a CAGR of 7.1% through 2034.
Which end user is leading as far as phenol application in concerned?
Sales of Phenol for PPO/Orthooxylenol Production are forecasted to reach US$ 13.20 Billion by 2034.
Who are the top providers of phenol in the market?
Some of the leading companies include Mitsubishi Chemical Corporation, Shell, and INEOS.
Phenol Market