Cresol Market - Global Market Share, Trends, Analysis and Forecasts, 2022-2032

Cresol is a monomethyl derivative of phenols extracted naturally from coal tar, coal gasification extracts or produced synthetically.  Cresol in its pure form is a mixture of ortho-, meta-, and para- isomers with same molecular formula but different structures. Cresols are widely used across different industries as an intermediate for materials and compounds such as dyes, disinfectants, agrochemicals, pharmaceuticals, explosives and food antioxidants. The demand for cresols is primarily driven by increased adoption in the production of vitamin E, expansion of agrochemical manufacturing industry, and adoption in production of electronic encapsulation products. Prevalence and outbreak of infectious diseases such as COVID-19 has resulted in increased health awareness across the globe, thereby fuelling the demand for dietary supplements. Vitamin E, along with other essential vitamins and minerals are strongly recommended by healthcare professionals to boost the immune system. With increased demand for vitamin E, the demand for cresol has witnessed prominent growth. Additionally, increasing adoption of cresol in electronic encapsulation products along with expansion of electronic device manufacturing industry is expected to drive the growth of global cresol market during the forecast period.

Asia Pacific contributed a dominating share to the global cresol market in 2019 owing to strong demand for cresol from industrial machinery manufacturing, food processing, pharmaceutical manufacturing, and elastomer/rubber manufacturing industries. China, Japan, Singapore, India and Taiwan cumulatively contributed approximately 75% of the Asia Pacific cresol market in 2019. The market in Asia Pacific is anticipated to offer lucrative opportunities to the leading and regional producers of cresol during the forecast period. North America, being the largest producer of cresol, contributed a prominent share to the global cresol market and is anticipated to grow steadily during the forecast period. North America is anticipated to maintain its position as leading producer of cresol throughout the forecast period, with the United States being the largest producing country.

Cresol Market Share Analysis, by Geography (2021)

The report titled “Cresol Market - Global Market Share, Trends, Analysis and Forecasts, 2022-2032”, wherein 2020 is historic period, 2021 is the base year, and 2022 to 2032 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global cresol market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market. For instance, Sasol Limited accounted for a total revenue of US$ 5,406.2 Million in 2019. The product segment analysis of the company indicates that Chemicals business segment of the company dominated revenue in 2019.

The global cresol market is segmented on the basis of type, applications, and geography. Based on type, the global cresol market is segmented into m-cresol, p-cresol, and o-cresol. Based on applications, the global cresol market is segmented into agrochemicals & pesticides, vitamin e, chemical intermediate, electronics devices, and others. Based on geography, the global cresol market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.

The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment, and would identify the segment of the company focusing on cresols. Further, market share of prominent companies in the global cresol market would also be estimated. For instance, Sasol Limited operates through three segments namely Chemicals, Energy, and Others. The cresols are delivered under Chemicals business segment of the company with revenue contribution of US$ 2,972.9 million in 2019.

The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, SWOT analysis, and research and development focus of all the cresol companies. The global cresol market study would take into consideration the participants engaged throughout the ecosystem of the market, along with their contribution. Product portfolio would focus on all the products under the cresol business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global cresol market.

Major players active in the global cresol market include Anhui Haihua Chemical Technology Co., Ltd., Atul Ltd, Konan Chemical Manufacturing Co., Ltd., Lanxess AG, Mitsui Chemicals, Rain Carbon Inc., SABIC, and Sasol Limited.