[Online Quarterly Update]Global Resorcinol demand is projected to grow at a healthy CAGR of 4.07% between period 2022-2030. Resorcinol is a water-soluble organic compound which is commonly produced by the from benzene through via benzene disulfonation process. It mainly used in the production of resins and have End-User Industry across numerous downstream sectors majorly include rubber & tyre industry, pharmaceutical and others. The main characteristic of Resorcinol is it is being used as bonding or stiffing agent across numerous industries owing to its ability to bond compounds such as wooden & rubber products well to various types of surfaces. Such as it is widely consumed by growing automotive & transportation sector in belts, rubber-coated fabric, tires etc. which not only helps in improving the adhesion of rubber to the reinforcing material but also improves the overall mechanical properties of the rubber compound.
The escalating growth of automotive industry following rise in disposable income and urban population would spur the demand for Resorcinol in coming years. While there has been sudden fall in total global demand of Resorcinol was perceived due to COVID-19 outbreak which has critically affected the manufacturing & processing sector most importantly include automotive, construction, electronics sector etc in 2020. Meanwhile, growing pharmaceutical industry which utilizes Resorcinol for manufacturing of various pharma drugs, fungicidal creams etc would lead to upsurge in demand of Resorcinol to some extent during pandemic. Other end-user industries of Resorcinol include its usage as UV stabilizer, flame retardants etc. It is used as a raw material in the production of UV absorbers, used in various resins viz., coatings, adhesives and plastics to protect them from harmful UV light.
By Region, Asia-Pacific region holds the major share of total Resorcinol demand which is expected to continue its dominance due to increasing industrialization and mounting automotive and construction industry in developing countries like China and India. Also, government’s initiatives towards buildings & developing infrastructure would also boost the demand of Resorcinol in the region.
Years considered for this report:
Historical Period: 2015-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022–2030
Objective of the Study:
•To assess the demand-supply scenario of Resorcinol which covers production, demand and supply of Resorcinol market globally.
•To analyse and forecast the market size of Resorcinol .
•To classify and forecast global Resorcinol market based on technology, end-use and regional distribution.
•To identify drivers and challenges for global Resorcinol market.
•To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global Resorcinol market.
•To identify and analyse the profile of leading players involved in the manufacturing of Resorcinol.
Major players for Resorcinol globally include Sumitomo Chemicals, Aldon Corporation, Napp Technologies, Zhejiang Hongsheng Chemical Co Ltd, Tokyo Chemical Industry Co. Ltd, Lanxess AG, Atul Ltd, Kraeber & Co. GmbH, Alfa Aesar, Akrochem Corporation, Jiangsu Zhongdan Group Co., Ltd., Dynea AS, Amino-Chem Co. Ltd. and others.
To extract data for global Resorcinol market, primary research surveys were conducted with Resorcinol manufacturers, suppliers, distributors, wholesalers and end users. 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 end user segments and projected a positive outlook for Global Resorcinol market over the coming years.
ChemAnalyst calculated Resorcinol demand globally by analyzing the historical data and demand forecast which was carried out considering imported Resorcinol, prices, materials used for production of Resorcinol . ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers 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:
• Resorcinol manufacturers and other stakeholders
•Organizations, forums and alliances related to Resorcinol 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 Resorcinol manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, global Resorcinol market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Market, by End-User Industry
Building & Construction, Healthcare, Automotive, Electrical & Electronics, Dyes, Explosives and Others
12.8.4.Colombia Resorcinol Demand-Supply Scenario, 2015-2030, By Volume
12.8.4.1.Demand
12.8.4.2.Supply
12.8.4.3.Gap
12.8.5.Colombia Resorcinol Demand Outlook, 2015-2030, By Volume
12.8.5.1.By End-Use Industry
12.8.5.2.By Manufacturing Process
12.8.5.3.By Application
12.8.5.4.By Company Share (At least top 3 companies’ market share)
12.8.5.5.By Region
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Which are the major drivers for growth in demand of Resorcinol?
Ans:
Rise in the demand of tires and rubber products across automotive and other industries would drive global the demand of Resorcinol.
Q2.
Which region holds the maximum demand share in the global Resorcinol market as of 2020?
Ans:
Asia Pacific holds the major demand share of Resorcinol due to expanding automotive and construction industry across major emerging countries like China and India. Increasing population and per capita income in these nations is the major influencing factor supporting demand rise in Asia Pacific.
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