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The global phenol market size reached a value of USD 23.17 billion in the year 2020. The phenol market is further expected to grow at a CAGR of 5.3% between 2021 and 2026 to reach a value of about USD 30 billion by 2026.
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In 2020, Asia Pacific was the largest regional phenol market with a market share of about 40%. The Asia Pacific was followed by Europe and the United States as the leading markets for the product with Europe occupying 29% of the global phenol market and the United States accounting for about 26% of the industry. South Korea was the leading exporter of phenol, which accounted for 16% of the total exports of phenol globally in 2018. China, on the other hand, was the largest importer of phenol in the world.
Phenol or carbolic acid is an aromatic white crystalline solid. It is an organic compound with the molecular formula C6H5OH. Phenol finds extensive and diverse applications, especially through its downstream products. It finds the majority of its usage in the conversion to precursors for plastics. In the pharmaceutical sector, phenol finds its application as a precursor of drugs like aspirins, and other pharmaceutical drugs. It is also employed as a remedy for pharyngitis. It is derived through the Cumene process, Dow process, and Raschig–Hooker process, among others.
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On the basis of end use, the industry is divided into:
The report also covers the regional phenol markets like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The global phenol market is being driven by the rising demand for alkyl phenyl. Alkyl phenyl currently accounts for 4.2% of the global end-use application. It is predominantly utilized as a surfactant for industrial as well as domestic applications, globally. Alkyl phenyl also finds uses as precursors to detergents, components of phenolic resins, additives in fuels and lubricants, and as polymers. They are also found in tires, coatings, adhesive, and high-performance rubber product as a result of their downstream applications.
The demand for phenol has also been rising globally due to the growth of its end-use industries, owing to the increasing urbanization, changing lifestyles and the rise in disposable incomes globally. The end-use sector is led by Bisphenol A, accounting for 48% of the industry share. Strong demand from emerging countries is facilitating the growth in the phenol market. The technological advancement in the techniques of its production has added further impetus to the phenol market growth.
Phenol is also in demand in sectors like farming and animal husbandry where it is used in fungicides and disinfectants. Through its downstream uses, phenol also finds applications in the automobile and construction sectors. The construction industry is expected to grow by 85% in 2030 to attain USD 15.5 trillion, with China, US, and India accounting for 57% of the estimated growth. China along with India are the key automotive markets. Thus, with the growing demand for phenol derivatives like polycarbonate and epoxy resins in the automobile and construction sector, the phenol market is being propelled forward.
The report gives a detailed analysis of the following key players in the global phenol market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the phenol market based on the Porter's five forces model along with giving a SWOT analysis.
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
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 Market Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
7 Industry Opportunities and Challenges
8 Global Phenol Market Analysis
8.1 Key Industry Highlights
8.2 Global Phenol Historical Market (2016-2020)
8.3 Global Phenol Market Forecast (2021-2026)
8.4 Global Phenol Market by End Use
8.4.1 Bisphenol A
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2016-2020)
188.8.131.52 Forecast Trend (2021-2026)
8.4.2 Phenolic Resins
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2016-2020)
18.104.22.168 Forecast Trend (2021-2026)
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2016-2020)
188.8.131.52 Forecast Trend (2021-2026)
8.4.4 Alkyl Phenols
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2016-2020)
18.104.22.168 Forecast Trend (2021-2026)
8.5 Global Phenol Market by Region
8.5.1 Market Share
22.214.171.124 North America
126.96.36.199 Asia Pacific
188.8.131.52 Latin America
184.108.40.206 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2016-2020)
9.1.2 Forecast Trend (2021-2026)
9.1.3 Market by Country
220.127.116.11 United States of America
9.2.1 Historical Trend (2016-2020)
9.2.2 Forecast Trend (2021-2026)
9.2.3 Market by Country
18.104.22.168 United Kingdom
9.3 Asia Pacific
9.3.1 Historical Trend (2016-2020)
9.3.2 Forecast Trend (2021-2026)
9.3.3 Market by Country
9.4 Latin America
9.4.1 Historical Trend (2016-2020)
9.4.2 Forecast Trend (2021-2026)
9.4.3 Market by Country
9.5 Middle East and Africa
9.5.1 Historical Trend (2016-2020)
9.5.2 Forecast Trend (2021-2026)
9.5.3 Market by Country
22.214.171.124 Saudi Arabia
126.96.36.199 United Arab Emirates
188.8.131.52 South Africa
10 Market Dynamics
10.1 SWOT Analysis
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyers Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 EMR’s Key Indicators for Demand
10.4 EMR’s Key Indicators for Price
11 Value Chain Analysis
12 Trade Analysis (HS Code-2907)
12.1 Major Exporting Countries by Value & Volume
12.2 Major Importing Countries by Value & Volume
13 Price Analysis
13.1 North America Historical Price Trends (2016-2020) & Forecast (2021-2026)
13.2 Europe Historical Price Trends (2016-2020) & Forecast (2021-2026)
13.3 Asia Pacific Historical Price Trends (2016-2020) & Forecast (2021-2026)
13.4 Latin America Historical Price Trends (2016-2020) & Forecast (2021-2026)
13.5 Middle East & Africa Historical Price Trends (2016-2020) & Forecast (2021-2026)
14 Manufacturing Process
14.1 Detailed Process Flow
14.2 Operations Involved
14.3 Mass Balance
15 Cost Analysis
15.1 Land, Location and Site Development
15.3 Plant Machinery
15.4 Cost of Raw Material
15.9 Other Capital Investment
16 Feedstock Market Analysis
16.1 Global Benzene Market Analysis
16.1.1 Key Industry Highlights
16.1.2 Global Benzene Historical Market (2016-2020)
16.1.3 Global Benzene Market Forecast (2021-2026)
16.1.4 Global Benzene Market by End Use
16.1.5 Global Benzene Market by Region
16.1.6 Historical Price Trends (2016-2020) and Forecast (2021-2026)
16.2 Global Propylene Market Analysis
16.2.1 Key Industry Highlights
16.2.2 Global Propylene Historical Market (2016-2020)
16.2.3 Global Propylene Market Forecast (2021-2026)
16.2.4 Global Propylene Market Breakup by End Use
16.2.5 Global Propylene Market Breakup by Region
16.2.6 Historical Price Trends (2016-2020) and Forecast (2021-2026)
17 Competitive Landscape
17.1 Market Structure
17.2 Key Players’ Market Share
17.3 Company Profiles
17.3.1 INEOS Group
184.108.40.206 Company Overview
220.127.116.11 Product Portfolio
18.104.22.168 Demographic Reach and Achievements
22.214.171.124 Financial Summary
17.3.2 Mitsui Chemicals, Inc.
126.96.36.199 Company Overview
188.8.131.52 Product Portfolio
184.108.40.206 Demographic Reach and Achievements
220.127.116.11 Financial Summary
17.3.3 Shell International B.V.
18.104.22.168 Company Overview
22.214.171.124 Product Portfolio
126.96.36.199 Demographic Reach and Achievements
188.8.131.52 Financial Summary
17.3.4 Solvay SA
184.108.40.206 Company Overview
220.127.116.11 Product Portfolio
18.104.22.168 Demographic Reach and Achievements
22.214.171.124 Financial Summary
17.3.5 Honeywell International Inc.
126.96.36.199 Company Overview
188.8.131.52 Product Portfolio
184.108.40.206 Demographic Reach and Achievements
220.127.116.11 Financial Summary
18 Industry Events and Developments
List of Figures and Tables
1. Global Phenol Market: Key Industry Highlights, 2016 and 2026
2. Global Phenol Historical Market: Breakup by End Use (USD Billion), 2016-2020
3. Global Phenol Market Forecast: Breakup by End Use (USD Billion), 2021-2026
4. Global Phenol Historical Market: Breakup by Region (USD Billion), 2016-2020
5. Global Phenol Market Forecast: Breakup by Region (USD Billion), 2021-2026
6. North America Phenol Historical Market: Breakup by Country (USD Billion), 2016-2020
7. North America Phenol Market Forecast: Breakup by Country (USD Billion), 2021-2026
8. Europe Phenol Historical Market: Breakup by Country (USD Billion), 2016-2020
9. Europe Phenol Market Forecast: Breakup by Country (USD Billion), 2021-2026
10. Asia Pacific Phenol Historical Market: Breakup by Country (USD Billion), 2016-2020
11. Asia Pacific Phenol Market Forecast: Breakup by Country (USD Billion), 2021-2026
12. Latin America Phenol Historical Market: Breakup by Country (USD Billion), 2016-2020
13. Latin America Phenol Market Forecast: Breakup by Country (USD Billion), 2021-2026
14. Middle East and Africa Phenol Historical Market: Breakup by Country (USD Billion), 2016-2020
15. Middle East and Africa Phenol Market Forecast: Breakup by Country (USD Billion), 2021-2026
16. Major Importing Countries by Volume (2020)
17. Major Exporting Countries by Volume (2020)
18. Major Importing Countries by Value (2020)
19. Major Exporting Countries by Value (2020)
20. North America Historical Price Trends and Forecast 2016-2026
21. Europe Historical Price Trends and Forecast 2016-2026
22. Asia Pacific Historical Price Trends and Forecast 2016-2026
23. Latin America Historical Price Trends and Forecast 2016-2026
24. Middle East and Africa Historical Price Trends and Forecast 2016-2026
25. Global Phenol Market Structure
In 2020, the global phenol market attained a value of USD 23.17 billion.
In the forecast period of 2021-2026, the market is projected to grow at a CAGR of 5.3%.
By 2026, the market is estimated to reach a value of almost USD 30 billion.
The major drivers of the industry such as rising urbanisation, increasing disposable incomes, strong demand from emerging economies, technological advancements, and growing demand for alkyl phenyl are expected to aid the market growth.
Improvements in the phenol production technology, focussed on enhancing output, lowering process costs and improving safety, is expected to be a major trend informing the industry growth.
The major regions in the industry are North America, the Asia Pacific, Europe, Latin America, and the Middle East and Africa, with the Asia Pacific accounting for the largest market share of 40%.
The leading end-use segment in the industry is bisphenol A, accounting for 48% of market share.
The major players in the industry are INEOS Group, Mitsui Chemicals Inc., Honeywell International Inc., Shell Chemical Co., and Solvay SA, among others.
The global phenol market attained a volume of 23.17 billion tons in 2020 driven by rising living standards and the growing demand for alkyl phenyl. Aided by the rising downstream demand from automotive and construction industries, the market is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 5.3%. The industry is projected to reach 30 million tons in 2026.
EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. On the basis of end-uses, the production of bisphenol A accounted for 48% of the end-uses of phenol in the global market. The major regional markets for phenol are North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, with the Asia Pacific accounting for the largest share of the industry. The key players in the report include INEOS Group, Mitsui Chemicals Inc., Honeywell International Inc., Shell Chemical Co., and Solvay SA, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with industry insights that are accurate, actionable, and help them remain ahead of their competition.
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