The global Resorcinol Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
The global resorcinol market size is expected to value at USD 580.3 million by 2025. The resorcinol industry is subject to witness a substantial growth due to the growing adoption of resorcinol for production of rubber, wood adhesives and UV stabilizers, along with inherent advantages associated with the chemical. Growing demand from industries such as building & construction and automotive sector and the development of innovative products together are expected to drive the growth of the market in the upcoming years.
Key Players:
- Kraeber & Co. GmbH
- Alfa Aesar
- Akrochem Corporation
- Jiangsu Zhongdan Group Co., Ltd.
- Dynea AS
- Amino-Chem Co. Ltd.
- Sumitomo Chemicals Co., Ltd.
- Atul Ltd.
Request free sample to get a complete analysis of top-performing companies @ https://www.millioninsights.com/industry-reports/resorcinol-market/request-sample
Growth Drivers:
Globally, the resorcinol market is predicted to grow at CAGR of 3.3% in forecast period, providing numerous opportunities for market players to invest in research and development in the market. Rise of the automotive industry and building & construction sector in the Asia-Pacific region is predicted to fuel the growth of resorcinol industry over the forecast period. Resorcinol is widely adopted for bonding purposes, involving rubber and reinforcing cords. Resorcinol is also used for manufacturing of various rubber products such as belt, tire, and rubber-coated fabric, thereby, soaring demand in automotive industries, in the recent years.
The rise in per capita income in developing economies across the globe has led to a rise in the demand for automotive vehicles. Significant investment by industry players in research & development of resorcinol coupled with introduction of innovative products in the market is anticipated to offer lucrative opportunities for industry players in the upcoming years.
Resorcinol is increasingly utilized for production of tires. Growing demand for resorcinol from automotive vehicle manufactures, bicycles, and aircraft manufactures are estimated to amplify market value for resorcinol in near future. Early adoption of adhesives enhances the rubber compound process stability. It also results in the increase of static as well as dynamic modulus of rubber. Use of resorcinol improves the overall steel cord adhesion property while not affecting vulcanization process of rubber; such factors are critical for augmenting consumer demand for resorcinol during the forecast period.
Application Outlook:
- Rubber products
- Wood adhesives
- UV stabilizers
- Flame retardants
Rubber is considered as one of the fastest growing segment in the resorcinol market with substantial revenue generation in the last couple of years. Growing popularity of the rubber market segment is attributed to the wide range of application portfolio of the chemical. Furthermore, introduction of environmental friendly products in compliance with governmental laws and regulation is expected to boost market growth in upcoming years.
Regional Outlook:
The resorcinol industry is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies, numerous governmental initiatives supporting market growth and existence of well-established industrial infrastructure.
Asia-Pacific region is predicted to hold a major market share in the resorcinol market with massive growth in forecast period. Countries such as India, China and Thailand are leading the Asia-Pacific market with rapid industrialization, substantial growth in the automotive sector, rise in the favorable laws & regulations by regional governments and significant investment by leading industry players considering potential growth opportunities in the region.
Browse Related Category Research Reports @ https://industryanalysisandnews.wordpress.com/
No comments:
Post a Comment