Cresol Market

Cresol Market Overview

In 2021, the global cresol market was worth USD 710.1 million with a CAGR of 3.40%. Cresol Market is expected to reach USD 1.05 billion during the forecast period. Cresol is made from petroleum and coal tar, which are important ingredients of creosote (a wood preservative). The future will see a rise in demand for vitamin E in the food and dietary supplement. This is due to a growing consumer focus on healthy eating habits.

Global Cresol Market Scope:

Product analysis

p-Cresol was the top product segment in 2021. It is expected to grow at a moderate 3.0% CAGR from 2023 to 2032. It is used primarily in the production and use of BHT, an antioxidant that is used in the food, cosmetics, and pharmaceutical industries. In 2021, the segment of butylated-hydroxytoluene end-uses accounted for more than 50%.

The major use of cresol derivatives in the manufacture of perfumery chemicals and flavoring agents has been their great importance. They are also used to make adhesives, plasticizers, and additives in solvents that degrease end-uses.

m-Cresol is a chemical intermediate that can be used to produce resoles, which are used in clutch and brake linings. Thymol, another important product, is obtained from this isomer and used in food and pharmaceutical products. Meta isomer, which has an anti-microbial property, has seen significant growth in disinfectant and antiseptic end-uses. Product demand is expected to rise due to increased demand for effective stabilizers in chemical intermediates, pesticide production, and other factors.

o-Cresol is used as a building block to produce herbicides, electronic sealing material, and dye intermediates. Plant protection agents use major derivatives of ortho-cresol chlorinated. Pesticides contain o-cresol derivatives in significant quantities. Product demand will rise due to growing concerns about crop protection in the major agricultural sector such as vegetables and cereals.

End-Use analysis

The growing use of cresols as bactericides, pesticides, and disinfectants is one factor that is anticipated to propel the worldwide cresol market over the estimated period. The use of cresols as a precursor in industries for the manufacturing of chemicals and materials, such as plastics, pesticides, pharmaceuticals, disinfectants, and dyes, as well as a solvent for synthetic resin coatings, is predicted to boost the global cresols market.

Additionally, it is anticipated that the Global Cresol Market would be driven during the forecast period by the use of cresol in the pharmaceutical industry as an antiseptic and a dental disinfectant used to remove tooth pulp. Cresols are anticipated to dominate the global market since they are an essential part of the wood preservative creosote.

Кеу Маrkеt Ѕеgmеntѕ

By Product

• P-Cresol
• O-Cresol
• M-Cresol

By End-Use

• Medical
• Pharmaceutical
• Chemical
• Agrochemical
• Other End-Uses

Market Dynamics:

The production of electronic encapsulation and vitamin E has been made possible by cresol derivatives. The electronics industry is expected to grow due to the rising demand for smartphones, tablets, computers, and display devices over the forecast period. These segments may be niche end-users, but the electronics and food industries offer enormous growth potential for both the Asia Pacific and European markets.

Meta, para, and other isomers made from coal tar, petroleum, or toluene are examples of such compounds. The production efficiency of the material and the waste disposal costs associated with its manufacturing are major factors in choosing the raw material.

Toluene is a key ingredient in product manufacturing. The pricing of toluene can have a direct effect on the cresol market. Toluene supply is crucial for major ortho and para isomer producers. Industry participants have been urged to sign long-term contracts and agreements with suppliers due to growing toluene demands in other end-uses like xylene or TDI.

Cymene, which is a bio-based raw material, is another important material for para and meta isomers production. Other than raw material prices, production site location, separation methods, and specific grades all influence the price of these products. Due to the close boiling points for para and meta isomers, the high price of these products has been attributed to additional costs associated with the separation of the raw material.

The essential ingredient of agrochemicals and pesticides is the derivatives of ortho and Meta isomers. Long-term, however, product demand will be affected by strict safety and health regulations regarding cresol content in consumer goods like cosmetics, disinfectants, or other personal care products.

Global cresol markets have seen strict regulations implemented to reduce the negative impact of their manufacturing processes. Toluene-based cresols can cause aquatic pollution. Industry participants have focused their efforts on managing waste before it is released. Atul Ltd. has used an automated waste recovery system that reduces waste disposal costs and increases waste recovery efficiency in collaboration with Degussa.

A surge in demand for cresols is caused by both the excessive population growth and the quick expansion of the chemical sector in developing nations, which fuels the market growth.

The major driving factor is the development of medical advancements, which raises the demand for synthetic cresols in the pharmaceutical sector.

Regional Analysis

Asia Pacific was the dominant market in global demand for cresol derivatives in 2021. It is expected that it will continue to dominate the market over the next few decades due to growing demand in the electronics, vitamin E, and agrochemical sectors. Despite China’s economic downturn, cresol derivatives have been able to penetrate the market despite the absence of many manufacturing industries. China’s product demand is expected to surpass a net volume in excess of 45 kilotonnes by 2024.

The Europe market is expected to experience a moderate growth rate due to continued demand for pharmaceuticals and aroma chemicals. Cresols have seen a significant rise in demand because of their chemical properties, which are used as a precursor to vitamin E, fragrance, dyes, and pharmaceutical sectors. Market expansion will be limited by slow economic growth in the region.

Europe will also lose market share to the high-growth markets in Asia Pacific and CSA. Over the forecast period, vitamin E demand will rise in these regions due to rising concerns about the health effects of deficient micronutrients. The regional market will be impacted by the growing population and rising awareness about fortified beverages and foods in the Asia Pacific. The forecast period sees a 3.8% CAGR in South America and Central America.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

Globally, the market is fragmented due to prominent companies such as Lanxess and Sasol, Atul, and SABIC. Anhui Haihua Chemical Technology Co. Ltd., Konan Chemical Manufacturing Co. Ltd., and Mitsui Chemicals are other major players in the sector. These companies are well-known in their respective markets and play an important role in product pricing.

Dakota Gasification, RUTGERS Chemicals, and Sasol Phenolics are major producers. They have combined their raw material production processes with meta, para, and ortho isomer manufacturing processes. They focus on isolating these compounds from coal tar and cresylics. SABIC, Lanxess, and Mitsui Chemicals focus on cresol production.

Маrkеt Кеу Рlауеrѕ:

Several major companies profiled in the report on the global cresol market include:

• Lanxess
• Sasol
• SABIC
• Anhui Haihua Chemical Technology Co., Ltd.
• Konan Chemical Manufacturing Co., Ltd.
• Mitsui Chemicals
• Dakota Gasification Company
• Nanjing Datang Chemical Co. Ltd.
• Xiamen Hisunny Chemical Co. Ltd.
• Other Key Players