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Asia Pacific Phenol Market Size, Share, Trends, Growth: By Product Type: Phenolic Resin, Bisphenol A, Caprolactam, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators of Price; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
Asia Pacific Phenol Market Outlook
The Asia Pacific phenol market size reached a volume of 5.58 million tons in 2023. The market is further projected to grow at a CAGR of 3.9% between 2024 and 2032, reaching a volume of 7.99 million tons by 2032.
Key Takeaways
- Asia-Pacific is both the largest producer and consumer of phenol due to factors like cheap labour, low operating costs, and increased investments in infrastructure development.
- As per industry reports, major phenol producing countries in Asia Pacific are China, South Korea, Taiwan, India, and Japan.
- Notable players in the market are Mitsui Chemicals, Inc., JFE Chemical Corporation, Mitsubishi Chemical Group Corporation, PTT Global Chemical Public Company Limited, CEPSA QUÍMICA, S.A., and Shell PLC.
The Asia Pacific phenol market growth is driven by various factors such as increasing consumption and production of phenol and high demand for phenol's derivatives for use in various applications such as production of cosmetics, herbicides, nylon and epoxies, and others. The popularity of phenol-based products in sectors such as automotive, construction, electronics, and healthcare has also fuelled the demand for phenol in the region.
One of the key trends aiding the Asia Pacific phenol market development is the rise in construction activities, which is accelerating the consumption of phenol in manufacturing of flooring panels, laminated beams and plywood, and other applications. Additionally, the growing demand for epoxy resins for turbine power generation is driving the market swiftly.
Furthermore, the utilisation of phenol as a precursor in numerous chemical preparations, rising demand for epoxy resins manufacturing, usage in consumer goods packaging, industrialisation, and technological advancement in developing countries, will further create opportunities for the phenol market in the region.
For instance, in China, the government has implemented policies to promote the development of the chemical industry, including the "Made in China 2025" initiative, which aims to upgrade the country's manufacturing capabilities and promote the development of high-end chemical products.
The phenol market in Asia Pacific is also experiencing growth due to the increasing demand for phenol from the electronics industry, particularly in China and South Korea. The electronics industry requires phenol to produce printed circuit boards, capacitors, and other electronic components.
Market players are continuously investing in research and development activities to enhance the efficiency and performance of phenols. INEOS has invested in the construction of a new phenol production facility in China, which is expected to increase the company's production capacity and strengthen its position in the Asia Pacific market.
Market Segmentation
Asia Pacific Phenol Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Product Type
- Phenolic Resin
- Bisphenol A
- Caprolactam
- Others
Market Breakup by Country
- China
- Japan
- India
- ASEAN
- Australia
- Others
Competitive Landscape
Market players are focusing on expanding their production capacity and investing in research and development activities to develop new and innovative phenol-based products.
- Mitsui Chemicals, Inc.
- JFE Chemical Corporation
- Mitsubishi Chemical Group Corporation
- PTT Global Chemical Public Company Limited
- CEPSA QUÍMICA, S.A.
- Shell PLC
- Solvay SA
- Kanto Chemical Co., Inc.
- Junsei Chemical Co., Ltd.
- Kumho P&B Chemicals., Inc.
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product Type |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Phenol Market Overview
8.1 Key Industry Highlights
8.2 Global Phenol Historical Market (2018-2023)
8.3 Global Phenol Market Forecast (2024-2032)
8.4 Global Phenol Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 Asia Pacific Phenol Market Overview
9.1 Key Industry Highlights
9.2 Asia Pacific Phenol Historical Market (2018-2023)
9.3 Asia Pacific Phenol Market Forecast (2024-2032)
10 Asia Pacific Phenol Market by Product Type
10.1 Phenolic Resin
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Bisphenol A
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Caprolactam
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Others
11 Asia Pacific Phenol Market by Country
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Market Dynamics
12.1 SWOT Analysis
12.1.1 Strengths
12.1.2 Weaknesses
12.1.3 Opportunities
12.1.4 Threats
12.2 Porter’s Five Forces Analysis
12.2.1 Supplier’s Power
12.2.2 Buyer’s Power
12.2.3 Threat of New Entrants
12.2.4 Degree of Rivalry
12.2.5 Threat of Substitutes
12.3 Key Indicators of Demand
12.4 Key Indicators of Price
13 Value Chain Analysis
14 Trade Data Analysis (HS Code: 2907)
14.1 Major Importing Countries
14.1.1 By Volume
14.1.2 By Value
14.2 Major Exporting Countries
14.2.1 By Volume
14.2.2 By Value
15 Price Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Mitsui Chemicals, Inc.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 JFE Chemical Corporation
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Mitsubishi Chemical Group Corporation
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 PTT Global Chemical Public Company Limited
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 CEPSA QUÍMICA, S.A.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Shell PLC
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Solvay SA
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Kanto Chemical Co., Inc.
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 Junsei Chemical Co., Ltd.
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 Kumho P&B Chemicals.,Inc.
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Phenol Market: Key Industry Highlights, 2018 and 2032
2. Asia Pacific Phenol Market: Key Industry Highlights, 2018 and 2032
3. Asia Pacific Phenol Historical Market: Breakup by Product Type (Million Tons), 2018-2023
4. Asia Pacific Phenol Market Forecast: Breakup by Product Type (Million Tons), 2024-2032
5. Asia Pacific Phenol Historical Market: Breakup by Country (Million Tons), 2018-2023
6. Asia Pacific Phenol Market Forecast: Breakup by Country (Million Tons), 2024-2032
7. Major Importing Countries by Volume
8. Major Exporting Countries by Volume
9. Major Importing Countries by Value
10. Major Exporting Countries by Value
11. Asia Pacific Phenol Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate volume of 5.58 million tons.
The market is expected to grow at a CAGR of 3.9% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach 7.99 million tons by 2032.
The popularity of phenol-based products in sectors such as automotive, construction, electronics, and healthcare has fuelled the demand for phenol in the region.
Key trends aiding the market expansion include increasing demand for phenol from the electronics industry, presence of many chemical manufacturing facilities, and favourable government policies.
Countries considered in the market are China, Japan, India, ASEAN, and Australia, among others.
Based on product type, the market segmentations include phenolic resin, bisphenol A, and caprolactam, among others.
Key players in the market are Mitsui Chemicals, Inc., JFE Chemical Corporation, Mitsubishi Chemical Group Corporation, PTT Global Chemical Public Company Limited, CEPSA QUÍMICA, S.A., Shell PLC, Solvay SA, Kanto Chemical Co., Inc., Junsei Chemical Co., Ltd., and Kumho P&B Chemicals., Inc., among others.
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