Global Phenol Market Analysis and Forecast, 2019-2028

Market Introduction

Phenol, also known as carbolic acid, is a colorless, crystalline solid and is widely used as an important raw material in various applications such as plastic, resins, and adhesives. The increasing demand for phenol in the production of Bisphenol-A (BPA) for the manufacture of polycarbonate plastics and resins is expected to drive the growth of the global phenol market in the coming years.

The increasing demand for phenol in the production of BPA and its derivatives is expected to drive the growth of the global phenol market in the coming years. The increasing use of phenol in the production of various end-use products such as laminates, adhesives, resins, and coatings is expected to drive the growth of the market.

Market Overview

The global phenol market size is estimated at a volume of 11.4 million tons in 2022 and growing at a CAGR of 3.7% during the forecast period till 2028. The growth of the market is driven by the increasing demand for phenol in the production of BPA and its derivatives. The increasing use of phenol in the production of various end-use products such as laminates, adhesives, resins, and coatings is expected to drive the growth of the market.

Segment Analysis

The global phenol market is segmented based on product type, application, and region. Based on product type, the market is segmented into cumene phenol, phenol-formaldehyde resins, and bisphenol A. The cumene phenol segment is expected to dominate the market due to its increasing demand in the production of phenol-formaldehyde resins and bisphenol A. Based on application, the market is segmented into resins, adhesives, coatings, and others. The resins segment is expected to dominate the market due to the increasing demand for phenol in the production of phenol-formaldehyde resins.

Regional Analysis

Geographically, the global phenol market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Asia Pacific is expected to dominate the market due to the presence of major phenol-producing countries such as China and India. The increasing demand for phenol in the production of BPA and its derivatives is expected to drive the growth of the market in the region.

Competitive Landscape

The major players operating in the global phenol market include Dow Chemical, LyondellBasell Industries, SABIC, Asahi Kasei, Sumitomo Chemical, BASF SE, and China National Chemical Corporation. The companies are focusing on expanding their production capacities and strengthening their presence in the market through partnerships, collaborations, and acquisitions.

Research Methodology

RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.

RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:

• Defining the problem by understanding the type of market and data required by the client.
• Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
• Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
• Evaluating and analyzing the data by referring to data sources utilized and leveraged.
• Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.

Primary Intelligence

• RationalStat utilizes surveys, questionnaires, focus groups, and one-to-one interviews with CXOs, industry partners, trade bodies, association members, ex-employees, and industry professionals to collect insights and quantitative/qualitative data specific to client needs. RationalStat quickly gets to the ‘why’ behind the ‘what’ demonstrated by secondary data.
• RationalStat takes a unique approach to arrive at market conclusions and actionable insights for clients.
• We have the technology and strong in-house resource pool with extensive experience in the global and regional markets, across a wide variety of categories and stakeholders.
• Strong language proficiency and capability with coverage across more than 70 language areas.

Secondary Sources

• Annual reports, company filings, investor presentations, product catalogs, and company documents
• Industry and market-related documents available in the public domain
• Paid databases including Bloomberg, Factiva, S&P Capital IQ, FactSet, Refinitiv Eikon, ICIS, EUWID, and Thomson Reuters, among others
• Whitepapers, research papers, and industry blogs.