The India Phenol market has reached approximately 440 thousand tonnes in FY2022 and is anticipated to grow at a healthy CAGR of 6.14% by FY2032. Recently in FY2023, Ion Chemicals, a Grammercy Trade Industrial Limited Company, purchased SI Group’s manufacturing site situated at Navi Mumbai and other associated assets. The purchase involves the transfer of ownership, most of the employees, and the continuation of the manufacturing processes.
Phenol is a colorless crystalline substance with the chemical formula (C6H5OH), which is frequently employed as an antiseptic and disinfectant. Honeywell UOP and KBR are two of the significant technologies employed by industries to manufacture Phenol in India. Demand for Phenol in India is likely to grow remarkably in the forecast period driven by strong demand for Phenol Formaldehyde Resin in construction, automotive, consumer electronics, and other products. To meet the country’s increasing demand for phenolic resins and to reduce the dependence on imports, the phenol industry in India is set to have large capacity additions. Rising demand for Bisphenol A (BPA) from the construction sector with rising investments across residential and non-residential buildings is anticipated to further drive the market in the forecast period. The Phenol market volume is estimated to reach approximately 800 thousand tonnes by FY2032.
Based on region, the India phenol Market is segregated into North, South, East, and West. West region is dominating the market and held approximately 55% of the market share in FY2022. Western states like Gujarat, Maharashtra, and Rajasthan have been the major consumers of phenol as the majority of the plastic manufacturers are located in these states which employ phenol for the production of a wide array of industries like paints, plasticizers, additives, and more.
Based on end-use, the India Phenol market is segmented into Phenol Formaldehyde Resin, Bisphenol-A, Pharmaceuticals, and Others. Among these, Phenol Formaldehyde Resin is the major consumer of phenol and consumed nearly 60% of the market in FY2022. Phenol Formaldehyde Resin is a versatile material and its properties have made it a preferred material in a variety of sectors, including automobile, aviation, and building as well as electronics, paints & coatings. These resins are used to make plastic laminate, insulation panels, laminated sheets, and waterproof adhesives and paints which are extensively used by the construction sector.
Major players in the India Phenol market are ION Chemicals, Hindustan Organic Chemicals Ltd., Deepak Phenolics Ltd., and Others.
Years considered for this report:
Historical Period: FY2015-FY2022
Base Year: FY2022
Estimated Year: FY2023
Forecast Period: FY2024- FY2032
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Objective of the Study:
•To assess the demand-supply scenario of Phenol which covers production, demand and supply of Phenol market in India.
•To analyse and forecast the market size of Phenol in India.
•To classify and forecast India Phenol market based on end-use and regional distribution.
•To examine competitive developments such as expansions, green field projects/ brown field expansions. mergers & acquisitions, etc., of Phenol market in India.
To extract data for India Phenol market, primary research surveys were conducted with Phenol manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for India Phenol market over the coming years.
ChemAnalyst calculated Phenol demand in India by analyzing the historical data and demand forecast which was carried out considering the imports and domestic production coupled with demand from end user industry. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data / import data of Phenol to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
•Phenol manufacturers and other stakeholders
•Organizations, forums and alliances related to Phenol distribution
•Government bodies such as regulating authorities and policy makers
•Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Phenol manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, India Phenol market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
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Details
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Market size Volume in FY2022
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440 thousand tonnes
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Market size Volume by FY2032
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800 thousand tonnes
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Growth Rate
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CAGR of 6.14% from FY2023 to FY2032
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Base year for estimation
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FY2022
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Historic Data
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FY2015 – FY2022
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Forecast period
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FY2024 – FY2032
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Quantitative units
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Demand in thousand tonnes and CAGR from FY2023 to FY2032
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Report coverage
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Industry Market Size, Capacity By Company, Capacity by Location, Capacity by Process, Capacity by Technology, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Foreign Trade
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Segments covered
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By End-Use: (Phenol Formaldehyde Resin, Bisphenol-A, Pharmaceuticals, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
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Regional scope
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North India, South India, East India, West India
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Pricing and purchase options
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Available Customizations:
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
In case you do not find what, you are looking for, please get in touch with our custom research team at sales@chemanalyst.com