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The North America phenol market attained a volume of 3.88 million tons in 2023. The market is further projected to grow at a CAGR of 3.6% between 2024 and 2032, reaching a volume of 5.33 million tons by 2032.
There is a growing demand for phenol derivatives in North America, driven by their wide range of applications in industries such as pharmaceuticals, chemicals, and electronics. This trend is boosting the overall consumption of phenol and its derivatives, leading to North America phenol market growth and expansion. For instance, in 2022, the phenol capacity was 15.65 million tonnes per annum (mtpa), which is expected to grow further. Companies like INEOS Phenol and Mitsui Chemicals are expanding their product lines to include a wide range of phenol derivatives, catering to the growing demand for these products in industries such as pharmaceuticals, chemicals, and electronics.
Advancements in manufacturing processes, such as the cumene process, Dow process, and Ranching-Hooker process, are enhancing the efficiency and sustainability of phenol production in North America. These technological innovations are driving market growth and improving the overall competitiveness of the industry. Companies like Shell and SABIC are investing in technological advancements in manufacturing processes. These innovations are enhancing the efficiency and sustainability of phenol production.
As per North America phenol market analysis, phenolic resins are widely used in various applications, including the production of adhesives, coatings, and insulation materials. Major producers of phenolic resins in North America include Hexion, BASF, and Georgia-Pacific Chemicals. The demand for phenolic resins is driven by their versatility and wide range of applications, particularly in the construction and automotive industries.
Caprolactam is a key intermediate in the production of nylon 6 fibres and resins, with significant demand from the textile, automotive, and electronics industries. Major producers of caprolactam in North America include Ascend Performance Materials, Invista, and BASF.
North America Phenol Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Product Type
Market Breakup by Country
Market players are focusing on expanding their production capacity and investing in research and development activities to develop new and innovative phenol-based products.
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:
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Breakup by Product Type |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*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 North America Phenol Market Overview
9.1 Key Industry Highlights
9.2 North America Phenol Historical Market (2018-2023)
9.3 North America Phenol Market Forecast (2024-2032)
10 North America 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 North America Phenol Market by Country
11.1 United States of America
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Canada
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
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 INEOS AG
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 Mitsubishi Chemical Group 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 Honeywell International Inc.
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 Shell PLC
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 Solvay SA
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 ALTIVIA
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 AdvanSix Inc.
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 Capital Resin Corporation
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 SI Group, Inc.
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 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. North America Phenol Market: Key Industry Highlights, 2018 and 2032
3. North America Phenol Historical Market: Breakup by Product Type (Million Tons), 2018-2023
4. North America Phenol Market Forecast: Breakup by Product Type (Million Tons), 2024-2032
5. North America Phenol Historical Market: Breakup by Country (Million Tons), 2018-2023
6. North America 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. North America Phenol Market Structure
In 2023, the market attained a volume of 3.88 million tons.
The market is expected to grow at a CAGR of 3.6% between 2024 and 2032.
The phenol market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of 5.33 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 United States of America and Canada.
Based on product type, the market segmentations include phenolic resin, bisphenol A, and caprolactam, among others.
Key players in the market are INEOS AG, Mitsubishi Chemical Group Corporation, Honeywell International Inc., Shell PLC, Solvay SA, ALTIVIA, AdvanSix Inc., Capital Resin Corporation, and SI Group, Inc., among others.
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