Cresols Market report is a comprehensive overview of the market’s situation thoroughly examined and compiled by Stratview Research. This new report provides past progress, current market conditions, and a future prospect from the year 2022 to 2028. It also offers accurate overview of the growth strategies, market size, mergers & acquisitions, and upcoming products/services of leading key players in this market.

Market Insights

The report analyses the market thoroughly and collects data in order to offer reliable data to the users. Cresols Market is expected to grow from USD 439.9 million in 2021 to USD 563.5 million by 2028 at a CAGR of 3.5% during the forecast period of 2022-2028. Surge in demand for vitamin E in food and dietary supplements, owing to rising consumer focus on healthy diet, is driving the growth of the market. Furthermore, with cresol derivatives gaining traction in the production of vitamin E and electronic encapsulation products, there is an increasing demand for computers, tablets, smartphones, and display devices, which is expected to drive the electronics industry during the forecast period. Although, considering these segments to be the niche applications for the product isomers, both, the electronics and food industries are estimated to offer lucrative growth opportunities for the market, especially across Asia-Pacific and Europe over the forecast period.

Market Segments' Analysis

According to Stratview Research, the Cresols Market is segmented by Product Type (Meta-Cresols, Para-Cresols, and Ortho-Cresols), by Application Type (Chemical Intermediates, Solvents, Preservatives, Antioxidants, and Others), and by Region (North America, Europe, Asia-Pacific, RoW)

Based on the product type, the market is segmented as meta-cresols, para-cresols, and ortho-cresols. Para-cresols captured the largest share of the market in 2021, and are estimated to maintain their vanguard during the forecast period. The growth of the segment is owing to the common use of para-cresols in the manufacture of butylated hydroxytoluene, an antioxidant used in the food, cosmetics and pharmaceutical industries.

Based on the application type, the market is segmented as chemical intermediates, solvents, preservatives, antioxidants, and others. The market for solvents is expected to witness the highest growth during the forecast period. The growth of the segment is driven by meta-cresols, which are mainly used in dissolving polymers such as polyaniline. In addition, growing polymer industry for its use in industrial application is expected to drive the market growth over the forecast period.

Which region is expected to dominate the market?

In terms of regions, Asia-Pacific held the major share of the cresols market in 2021, and is estimated to maintain its leading position during the forecast period as well. The region’s growth is driven by the growing demand for products in the agrochemical, vitamin E and electronic sectors in the region. Furthermore, the presence of various manufacturing industries in countries such as China has played a major role in boosting the region's market growth for cresol derivatives in the Asia-Pacific region.

Top key vendors in the market:

The report mentions a list of key players in the Cresols Market. Some of them are mentioned below –

  • Asahi Kasei Chemicals
  • Atul Ltd
  • Dakota Gasification Company
  • Henan Hongye Technological Chemical
  • Konan Chemical Manufacturing Co., Ltd.
  • Lanxess AG
  • Mitsui Chemicals
  • Rutgers Chemicals GmbH
  • SABIC Innovative Plastics
  • Sasol Phenolics

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