Cresol Market Revenue to Attain USD 1,065.42 Million by 2033

10 Dec 2024

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Table of Content

1. Cresol Market Revenue and Trends 2023 to 2033 2. Market Overview 3. Report Highlights of the Cresol Market 4. Cresol Market Trends 5. Regional Analysis 6. Cresol Market Coverage 7. Cresol Market Key Players 8. Market News

Cresol Market Revenue and Trends 2023 to 2033

The global cresol market revenue was valued at USD 759.65 million in 2024 and is expected to attain around USD 1,065.42 million by 2033, growing at a CAGR of 3.83% during the forecast period. The growing need for cresol in the pharmaceutical industry is the key factor driving the cresol market growth.

Market Overview

Cresol, also called hydroxytoluene, is a group of organic compounds. Also known as Cresylic Acid, it occurs widely in nature. However, the presence of cresol in water and soil is very low. Mostly, they are released from vehicle exhaust in populated and dense cities with a huge number of gas stations. In addition, cresol is corrosive and can lead to gastrointestinal corrosive injury along with cutaneous damage. Cresol is used as an antiseptic, disinfectant, pesticide, and antiparasitic agent in veterinary medicine. Some cresol polymers can be used as a preservative in pharmaceutical formulations.

Report Highlights of the Cresol Market

• By product, the p-Cresol segment dominated the global Cresol market in 2023. The dominance of the segment can be attributed to the growing use of p-cresol in agricultural and pharmaceuticals.
• By product, the m-Cresol segment is anticipated to show the fastest growth in the Cresol market over the forecast period. The growth of the segment can be credited to the growing use of m-Cresol in the automotive industry.

Cresol Market Trends

Surge in industrial applications

Cresol can be utilized as a raw material in manufacturing numerous chemicals such as adhesives, resins, and dyes. Its key properties, such as high stability and solubility, make it a prime agent for various industrial applications. However, the expansion of the Cresol market in industries like plastics, coatings, and textiles can directly lead to the increased demand for cresol derivatives in the end-use industries. The rising trend towards high functions and durable materials will likely contribute to further market expansion.

Increased applications of cresol derivatives advanced materials

Cresol can be used in the manufacturing of phenolic resins and other polymers. As the demand for cresol in industries such as automotive, electronics, and aerospace is increasing it can create lucrative opportunities for the Cresol market. Furthermore, the surge of specialty chemicals which are made for tailored applications, open new avenues for cresol utilized in developing innovative products in adhesives, coatings, and sealants.

• In August 2022, a key development unfolded in India, with the inauguration of a new bisphenol-A production facility. Designed to curb reliance on imports, particularly from the United States and China, the facility aims to manufacture 1.35 lakh tons of bisphenol-A domestically.

Increased demand for vitamin E in food

The growing demand for vitamin E in dietary and food supplements due to rising consumer emphasis on healthy diet is fuelling the Cresol market growth. There is also a surge in demand for vitamin E in various end-use industries, as it is an effective dietary solution. In addition, the increasing g shift towards eco-friendly chemical processes can improve the development of Cresol from bio-based sources.

Regional Analysis

Asia Pacific dominated the global Cresol market in 2023. The dominance of the region can be linked to the increasing requirement for personal care products and the extensive consumer population. Also, the growing emphasis on infrastructure development in countries like India and China dives into the adoption of epoxy resins extracted from cresol. Furthermore, the agrochemical, pharmaceutical, and automotive sectors are surging, which relies on cresol-based processes.

North America is expected to experience the fastest growth in the Cresol market over the projected period. The growth of the region can be credited to the surge in demand for cresol in various products, such as intermediates, preservatives, and chemical disinfectants. Moreover, the increasing production of resins, herbicides, and pesticides with cresol is anticipated to propel market growth in the region soon. In North America, the U.S. dominated the market owing to the increasing focus on energy efficiency and renewable energy, which has s resulted in a surging need for cresol-containing insulation materials.

Cresol Market Coverage

Cresol Market Key Players

• Merck KGaA
• KANTO KAGAKU
• Mitsui Chemicals, Inc.
• Dorf Ketal
• LANXESS
• Vigon International, LLC.
• TCI AMERICA
• RICCA Chemical Company

Market News

• In November 2023, Ineos Phenol successfully acquired Mitsui Phenol Singapore for USD 330 million. Gordon Adams, Business Director at Ineos Phenol, emphasizes the acquisition's significance, enabling the company to enter the Asian market, support global customer growth plans, and venture into new markets with the introduction of bisphenol A
• In June 2022, INEOS Phenol introduced its groundbreaking bio-attributed product line for phenol, acetone, and alphamethylstyrene at sites in Gladbeck, Germany, and Antwerp, Belgium. Marketed under the INVIRIDIS brand, these innovative products are produced without fossil fuels as feedstock.

Market Segmentation

By Product

• M-Cresol
• P-Cresol
• O-Cresol

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