Global Phenol Market Outlook to 2026

Phenol (C6H5OH) is an organic aromatic compound. It is a colorless crystalline solid and toxic in nature. It is commonly used as an antiseptic and disinfectant. Phenol has better solubility in water due to hydrogen bonding when compared to other hydrocarbons having similar molecular weight.

According to BlueQuark Research & Consulting, the global Phenol market is expected to witness a significant growth rate during the forecast period. The high demand for phenol derivatives which is used in various applications such as construction, resins, medicine, etc will drive the Phenol market. The major factors responsible for the growth of the global Phenol market is increasing demand from the emerging packaging and construction industry which has led to increasing demand for infrastructure facilities and consumer goods.

The Asia Pacific region is currently the major regionin this market owing to the robust and growing demand for Phenol, especially in China. It is the largest consumer and producer of Phenol. North America and Europe have a stagnant growth in this market during the forecast period due to strict regulations by the government.

In terms of application, Bisphenol-A is likely to dominate the market. Phenol is mainly used for the production of BPA, which is manufactured from acetone and phenol. BPA in turn is used for the manufacture of epoxy resins and polycarbonates (they are used in various end-user industries such as adhesives, paints, and coatings, packaging, etc).

The global Phenol market is highly fragmented. The major players in the global Phenol market are INEOS Phenol, Solvay S.A., Mitsui Chemicals, CEPSA Química, Royal Dutch Shell PLC, among others. Among all these companies, INEOS Phenol serves as the world's largest producer of Phenol.

In July 2019, INEOS Phenol announced that it is building a world-scale cumene unit in Marl Germany. It is expected to be completed by 2021. This new cumene plant, having a capacity of 750,000 tonnes. It will support future customer demand for phenol and acetone by improving the supply of raw material to the INEOS phenol and acetone plants. With the increase in production capacity for cumene, the company will aid other phenol producers as well as it will fulfill the global cumene demand, which will further aid the global phenol market.

GlobalPhenol Market report provides deep insight into the current and future state of the Phenol market across various regions. The study comprehensively analyzes the Phenol market by segmenting based on the manufacturing process (Cumene process, Dow process & Rasching Hooker process), application (Alkyl Phenol, Bisphenol- A, Nylon-KA oil, Ortho Xylene, Phenol formaldehyde resin, and other applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report examines the market drivers and restraints, along with the impact of Covid-19 on the market growth in detail. The study covers & includes emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with profiles of major companies, including their market shares and projects.