Stratview Research has published a new report titled “Cresols Market” which 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, Asia-pacific, Europe, RoW)
As per the study, cresols Market is likely to witness a CAGR of 3.5% during the forecast period. 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.
Report Highlights
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the market dynamics of the industry. It provides thorough analysis of the market segments which include products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise analysis -
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.
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.
Who are the Key Players in the Market?
This report provides market intelligence in the most comprehensive way. It also provides critical insights into the key players active in the market, that will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key players activen in the Cresols Market:
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