According to IMARC Group’s latest research report, titled “Resorcinol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, offers a comprehensive analysis of the industry, which comprises insights into the resorcinol market. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global resorcinol market size reached US$ 462.2 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 538.7 Million by 2027, exhibiting a growth rate (CAGR) of 2.51% during 2022-2027.
Resorcinol Market Outlook:
Resorcinol, or resorcin, represents a crystalline solid that is white in color and soluble in ether, alcohol, and water. It has a slightly bittersweet taste and is produced by melting resins, such as galbanum and asafetida, with potassium hydroxide (KOH) or by the distillation of brazilwood extract. Resorcinol enhances the adhesive strength of wood and rubber products and is used in the manufacturing of dyes, UV stabilizers, fire retardants, explosives, and herbicides. As a result, this compound finds widespread application across various sectors, including chemical, automotive, rubber, construction, etc.
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Resorcinol Market Growth:
The expanding automotive industry and the escalating usage of wood in the construction of residential and commercial complexes across the globe are among the primary factors driving the resorcinol market. Besides this, the extensive product utilization as a wood-binding agent, owing to its high chemical stability, cost-effectiveness, and resistance to solvents, salt water, acids, and oil and in manufacturing light screening agents to protect plastic products against ultraviolet (UV) rays is further augmenting the market growth. Moreover, the growing popularity of resorcinol as a binding medium for rubber and reinforcing cords to produce belts, tires, and rubber-coated fabrics in automobiles is also catalyzing the global market. Apart from this, the increasing need for this compound in the production of non-halogenated flame-retardants and several agricultural chemicals is acting as another significant growth-inducing factor. Furthermore, the elevating product requirement as an antiseptic and disinfectant in skincare products for the treatment of acne, psoriasis, eczema, calluses, and warts, on account of the rising prevalence of skin-related medical ailments, is expected to bolster the resorcinol market in the coming years.
Key Market Segmentation:
- Akrochem Corporation
- Aldon Corporation
- Alfa Aesar (Thermo Fisher Scientific Inc.)
- Amino-Chem Co., Ltd.
- Atul Ltd.
- Dynea AS
- Euram Chemicals Ltd.
- Indspec Chemical Corporation
- Jiangsu Zhongdan Group Co., Ltd.
- Mitsui Chemicals Inc.
- Napp Technologies LLC
- Sigma-Aldrich Corporation
- Sumitomo Chemicals Co. Ltd.
Breakup by Application:
- Tire and Rubber Products
- Wood Adhesives and Binders
- UV Products and Dyes
- Flame Retardants
Breakup by Production Method:
- Benzene Disulfonation
- Hydroperoxidation of Meta-Diisopropylbenzene
- Hydrolysis of Meta-Phenylenediamine
Breakup by End-Use Industry:
- Building and Construction
- Electrical and Electronics
Breakup by Region:
- North America (United States, Canada)
- Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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