According to our (Global Info Research) latest study, the global Cardanol-phenol Resin market size was valued at US$ 45.15 million in 2025 and is forecast to a readjusted size of US$ 89.28 million by 2032 with a CAGR of 10.1% during review period.
Cardanol is a bio-based phenolic compound made from cashew nut shell liquid (CNSL), which itself is a byproduct of cashew nut processing. In simple terms: when cashew nuts are processed, the shells contain a dark oily liquid; that liquid can be extracted and distilled, and one of the main valuable chemical fractions is cardanol. Chemically, cardanol is a phenol with a long hydrocarbon side chain (often with one or more double bonds), which gives it a useful mix of “reactive” behavior (from the phenol group) and “flexible / oily” behavior (from the side chain).
From a market-definition angle, the “cardanol market” usually includes: (1) neat cardanol (distilled fraction), and (2) cardanol derivatives made for industrial formulations. Neat cardanol is used as a building block for resins and additives, while derivatives include epoxidized cardanol, cardanol-based phenolic resins, and cardanol-based curing agents such as phenalkamines (widely used as epoxy hardeners for protective coatings and flooring). These products are sold into coatings, adhesives, composites, friction materials (brake pads), inks, and specialty surfactant/pigment-dispersant systems.
A helpful way to understand cardanol is through its supply chain logic. Upstream, the “raw material” is cashew shells, so supply is linked to cashew cultivation and processing. Midstream, CNSL is extracted (methods vary, and processing conditions can affect composition), then refined and fractionated to isolate cardanol and other components. Research shows that extraction/pre-treatment choices can change the CNSL profile, which matters because customers want stable quality and predictable performance in resin systems. Downstream, cardanol competes with petroleum-derived phenols and alkylphenols in many formulations, but it also creates new product “value” because it can raise renewable content while still meeting performance needs in harsh-service coatings and composites.
Because cardanol comes from an agricultural value chain, regional cashew processing capacity matters as much as farm output. If more raw nuts are processed locally, more shells are available in the right places, and CNSL collection becomes easier to scale. This is one reason West Africa—especially Côte d’Ivoire—matters to the long-term supply picture. The World Bank describes Côte d’Ivoire’s rapid expansion of domestic cashew processing capacity over the last decade (and related investments in processing zones and logistics). That kind of “processing build-out” can indirectly support more stable CNSL and cardanol supply over time. At the same time, the cashew chain can be volatile: Reuters has reported sharp swings in buying patterns and prices tied to trade conditions (including tariffs) and currency moves, which can ripple into byproduct economics and availability.
In 2025, global Cardanol-phenol Resin production reached approximately 43056 MT, with an average global market price of around US$ 1019 per MT. The global single-line production capacity ranges from 2500 to 3000 MT per year. The industry's gross profit margin is approximately 15%-25%.
A major trend supporting cardanol is the broad move toward bio-based coatings, especially in protective coatings, marine/offshore, industrial flooring, and corrosion control. Epoxy coatings are widely used because they bond well and resist chemicals, and the industry is steadily improving the bio-content of epoxy systems while trying to keep the same durability. Reviews of bio-based coatings highlight epoxy systems as a key area where bio-based building blocks (including phenolic/bio-aromatic sources) can expand, particularly when paired with formulation advances (waterborne systems, reactive diluents, improved curing chemistry). Cardanol-based epoxies and blends are actively studied for mechanical performance and higher renewable content, which supports a steady pipeline of new formulations that can later become commercial products.
Another important driver is regulatory and brand pressure on certain petrochemical surfactants and alkylphenol-related substances. Cardanol is often compared (at least functionally) with some alkylphenol-type ingredients because it can behave like a hydrophobic phenol building block. Where restrictions or customer standards tighten around problematic chemicals, formulators look for alternatives that still deliver wetting, dispersion, or resin performance. In Europe, ECHA resources show how substances like nonylphenol ethoxylates sit within the REACH restriction framework, reinforcing the general direction of travel toward tighter control of some legacy chemistries. This does not automatically mean cardanol replaces any specific molecule one-for-one, but it does create a “tailwind” for bio-based and more acceptable building blocks in many formulations.
This report is a detailed and comprehensive analysis for global Cardanol-phenol Resin market. Both quantitative and qualitative analyses are presented by manufacturers, by region & country, by Type and by Application. As the market is constantly changing, this report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2025, are provided.
Key Features:
Global Cardanol-phenol Resin market size and forecasts, in consumption value ($ Million), sales quantity (Tons), and average selling prices (US$/Ton), 2021-2032
Global Cardanol-phenol Resin market size and forecasts by region and country, in consumption value ($ Million), sales quantity (Tons), and average selling prices (US$/Ton), 2021-2032
Global Cardanol-phenol Resin market size and forecasts, by Type and by Application, in consumption value ($ Million), sales quantity (Tons), and average selling prices (US$/Ton), 2021-2032
Global Cardanol-phenol Resin market shares of main players, shipments in revenue ($ Million), sales quantity (Tons), and ASP (US$/Ton), 2021-2026
The Primary Objectives in This Report Are:
To determine the size of the total market opportunity of global and key countries
To assess the growth potential for Cardanol-phenol Resin
To forecast future growth in each product and end-use market
To assess competitive factors affecting the marketplace
This report profiles key players in the global Cardanol-phenol Resin market based on the following parameters - company overview, sales quantity, revenue, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include Cat Loi, LC BUFFALO, Son Chau, Cardolite, C.Ramakrishna Padayatchi, Adarsh Industrial Chemicals, Golden Cashew Products, Senesel, Xuzhou Zhongyan Technology, Wansheng, etc.
This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.
Market Segmentation
Cardanol-phenol Resin market is split by Type and by Application. For the period 2021-2032, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.
Market segment by Type
Single Distilled
Double Distilled
Market segment by Purity
Industrial-Grade Cardanol
High-Purity Cardanol
Low-Odor / Low-Color Grades
Market segment by Performance Positioning
Low-Temperature Cure Grades
Corrosion-Resistance Focused Grades
Low-VOC Grades
Others
Market segment by Sales Channel
Online
Offline
Market segment by Application
Adhesives
Pharmaceuticals
Industrial Cleaning
Surface Coatings and Paints
Others
Major players covered
Cat Loi
LC BUFFALO
Son Chau
Cardolite
C.Ramakrishna Padayatchi
Adarsh Industrial Chemicals
Golden Cashew Products
Senesel
Xuzhou Zhongyan Technology
Wansheng
GHW International
BioCrick
Shanghai Wing Chemical
Market segment by region, regional analysis covers
North America (United States, Canada, and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
The content of the study subjects, includes a total of 15 chapters:
Chapter 1, to describe Cardanol-phenol Resin product scope, market overview, market estimation caveats and base year.
Chapter 2, to profile the top manufacturers of Cardanol-phenol Resin, with price, sales quantity, revenue, and global market share of Cardanol-phenol Resin from 2021 to 2026.
Chapter 3, the Cardanol-phenol Resin competitive situation, sales quantity, revenue, and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the Cardanol-phenol Resin breakdown data are shown at the regional level, to show the sales quantity, consumption value, and growth by regions, from 2021 to 2032.
Chapter 5 and 6, to segment the sales by Type and by Application, with sales market share and growth rate by Type, by Application, from 2021 to 2032.
Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value, and market share for key countries in the world, from 2021 to 2026.and Cardanol-phenol Resin market forecast, by regions, by Type, and by Application, with sales and revenue, from 2027 to 2032.
Chapter 12, market dynamics, drivers, restraints, trends, and Porters Five Forces analysis.
Chapter 13, the key raw materials and key suppliers, and industry chain of Cardanol-phenol Resin.
Chapter 14 and 15, to describe Cardanol-phenol Resin sales channel, distributors, customers, research findings and conclusion.
Summary:
Get latest Market Research Reports on Cardanol-phenol Resin. Industry analysis & Market Report on Cardanol-phenol Resin is a syndicated market report, published as Global Cardanol-phenol Resin Market 2026 by Manufacturers, Regions, Type and Application, Forecast to 2032. It is complete Research Study and Industry Analysis of Cardanol-phenol Resin market, to understand, Market Demand, Growth, trends analysis and Factor Influencing market.