Cresols Market to Clock Value US$452.1 Mn by 2023-end, With Rising Demand for Chemical Intermediates - TMR

News provided by

Mar 22, 2019, 08:00 ET

ALBANY, New York, March 22, 2019 /PRNewswire/ -- The global cresols market holds a highly fragmented vendor landscape, says Transparency Market Research (TMR) in a recently published report. This is because of a large number of small- and large-scale companies operating in the cresols market. Lanxess AG, Saudi Basic Industries Corporation, Mitsui Chemicals, and Dakota Gasification Company are the uppermost players in the global cresols market.

A key strategy adopted by players in the global cresols market to retain their dominance over the market includes constant product improvement along with providing quality products for satisfying end-users' preferences. The leading vendors in the market have taken various initiatives on the marketing front to enhance their growth prospects. The level of competition among players is getting escalated due to the entry of several small and medium sized firms who are looking for fundamental strategies and policies to cementing their foothold in the market. Moreover, many emerging market vendors are also bidding on local markets to sustain themselves amidst hard competition.

According to experts from TMR, the global cresols market is expected to gain revenue worth US$452.1 mn by the end of 2023, elevating up from a valuation of US$338.9 mn in 2014. Experts project this growth to occur at a promising CAGR of 3.3% during the forecast period from 2015 to 2023.

Request a Sample of Global Cresols Market: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=8383

Among various applications of cresols, chemical intermediates account for a leading share in the market and is expected to boost the global cresols market during forecast period. This is because of their wide range of applications in manufacturing of organic intermediates such as plasticizers, odor-enhancing compounds, herbicides, and pharmaceuticals. Region wise, Asia Pacific is expected to showcase largest share in the global cresols market in the coming years. This is attributed to the rapid expansion of chemical sectors coupled with rising economic conditions in the region.

Need for Vitamin E in Various Dietary Supplements Stoke Demand in Cresols Market

Cresols are aromatic organic compounds, which are obtained from petroleum or coal tar in the form of a mixture of three stereoisomers such as Meta cresols, ortho cresols, and Para cresols. This chemical compound has a wide range of applications, where it is widely used as antiseptics, disinfectants, agrochemicals, and preservatives. Moreover, cresols are extensively used as chemical intermediates or precursors in the production of vitamin E, polymer resins, antioxidants, pharmaceuticals, rubbers, and fragrances. Such USPs are majorly driving the global cresols market. Along with this, growing demand for vitamin E in animal feed additives, and dietary supplements, and rising need for industrial lubricants and pharmaceutical intermediates are also fuelling demand in the global cresols market.

Request For Multiple Chapters: https://www.transparencymarketresearch.com/sample/sample.php?flag=MC&rep_id=8383

Furthermore, rapidly changing lifestyles of people and increasing demand for cresols from the food and beverages industry are further propelling expansion in the global cresols market. Apart from these, rising usage of cresols in wider automotive applications is also boosting the global cresols market.

Environmental Regulations against Harmful Chemicals may Hinder Market's Growth

Cresols are considered harmful as they are very toxic in nature. On inhalation by human, cresols may cause serious hazards such as nasal constriction, dryness, and throat irritation. Thus, stringent environmental regulations and strict mandates from the EPA are pertaining the production of cresols along with its transportation, packaging, and disposal. Such factors are hampering the growth of the global cresols market. Nonetheless, persistent demand for cresols from electronics and other various industries is believed to help industry players overcome these challenges in the near future.

Request For Discount On This Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=8383

The review is based on a market research report by TMR, titled, "Cresols Market (Meta-cresols, Para-cresols, and Ortho-cresols) for Chemical Intermediates, Solvents, Preservatives, Antioxidants and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023".

The segmentation of global cresols market is based on:

Product

Para-cresol
Meta-cresol
Ortho-cresol

Application

Chemical Intermediates
Solvents
Preservatives
Antioxidants
Others (Including perfumes & dyes)

Region

North America

U.S.
Rest of North America

Europe

France
U.K.
Spain
Germany
Italy
Rest of Europe

Asia Pacific

China
Japan
ASEAN
Rest of Asia Pacific

Latin America

Brazil
Rest of Latin America

Middle East & Africa (MEA)

GCC
South Africa
Rest of MEA

Browse Chemicals & Materials Market Research Reports

Popular Research Reports by TMR:

Para Cresol Market: https://www.transparencymarketresearch.com/para-cresol-market.html
Bromocresol Green Market: https://www.transparencymarketresearch.com/bromocresol-green-market.html
Chemical Intermediates Market: https://www.transparencymarketresearch.com/chemical-intermediates-market.html

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision."

Contact

Mr. Rohit Bhisey
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: [email protected]
Website: http://www.transparencymarketresearch.com
Research Blog: https://cmfenews.com