Global Resorcinol Market - Segmented by Application, End-user Industry, and Geography - Growth, Trends and Forecasts (2018-2023)

  • ID: 4536180
  • Report
  • Region: Global
  • 130 pages
  • Mordor Intelligence
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FEATURED COMPANIES

  • Aldon Corporation
  • AminoChem
  • Atul Ltd
  • Deepak Nitrite Ltd
  • Dynea
  • Jay Organics
  • MORE
The Resorcinol Market is expected to register a CAGR of 3% during the forecast period (2018 - 2023). The resorcinol market has been majorly driven by the growing demand from Asia-Pacific. The increase in demand has been caused by the increase in a number of end-user industries, including rubber & tire, wood adhesives, pharmaceuticals, and agrochemicals.

Growing Demand of Resorcinol-Formaldehyde in Rubber Industry

Resorcinol is a monomeric byproduct of the oxidation, reduction, and microbial degradation of humic substances. Resorcinol and resorcinol-formaldehyde are used to enhance the bonding between rubber compounds and various reinforcing materials. In 2016, in terms of end-user industry, rubber products had the largest market share. This can be attributed to the many factors, such as growth in the tire industry due to the increase in consumption from automotive sectors, which have been expected to drive the market growth in the future years.

Wood Binding Application is the Fastest Growing

In the recent years, there has been an increase in the usage of resorcinol in wood binding applications owing to its characteristic properties, like superior adhesion. This increase in the demand is due to the recent surface treatment enhancement techniques, where the persistence of bonding of polymeric adhesives increases. The treated material is called hydroxyl methylated resorcinol (HMR) which is widely used in bonding cotton tire cord to rubber, which maintains adhesion over long periods of robust use. The growth in tire cord application is propelling the demand for the resorcinol market.

Asia-Pacific to Lead the Market

In 2017, Asia-Pacific held the largest regional market for resorcinol. The growing tire manufacturing industries in the region is one of the factors favoring the market growth. Large-scale investments in countries, like China and India, towards the positive growth of the automotive sector in these regions, fueled by the market for passenger car tires, are expected to provide a lucrative opportunity for market growth. The government initiatives in the region, promoting the usage of resorcinol products, are expected to have a positive effect over the forecast period.

Key Developments

August 2017: Kordsa and Continental jointly developed a sustainable adhesion system which is eco-friendly in order to replace resorcinol and formaldehyde.

Major Players: Atul Ltd, Aldon Corporation, Sumitomo Chemicals, Mitsui Chemicals, and Deepak Nitrile Ltd, among others.

Reasons to Purchase this Report

Analyzing various perspectives of the market with the help of Porter’s five forces analysis

To identify the application that is expected to dominate the market

To identify regions that are expected to witness the fastest growth during the forecast period

Identify the latest developments, market shares, and strategies employed by the major market players

3-month analyst support, along with the Market Estimate sheet (in Excel)

Customization of the Report

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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Aldon Corporation
  • AminoChem
  • Atul Ltd
  • Deepak Nitrite Ltd
  • Dynea
  • Jay Organics
  • MORE
1. Introduction
1.1 Scope of the Report
1.2 Research Methodology

2. Executive Summary

3. Market Insights
3.1 Industry Value-Chain Analysis
3.2 Industry Attractiveness - Porter’s Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
3.3 Import and Export Snapshot
3.4 Price Analysis
3.5 Technological Snapshot
3.5.1 Production Process
3.5.2 Technology Licensing and Patent Analysis
3.6 Regulatory Policy Analysis

4. Market Dynamics
4.1 Drivers
4.1.1 Rise in demand for rubber products in the tire industry
4.1.2 Growing demand of resorcinol-formaldehyde in rubber industry
4.1.3 Increase in usage of UV stabilizers
4.2 Restraints
4.2.1 Weak global economy effecting automotive and construction sectors
4.2.2 Development of Adhesive system which can replace resorcinol and formaldehyde
4.2.3 Hazardous nature of the product and high disposal costs
4.3 Opportunities
4.3.1 New applications in personal care and pharmaceuticals
4.3.2 Other Opportunities

5. Market Segmentation and Analysis (Market Size, CAGR and Forecast)
5.1 By End-user Industry
5.1.1 Building & Construction
5.1.2 Healthcare
5.1.3 Automotive
5.1.4 Electrical & Electronics
5.1.5 Others
5.2 By Application
5.2.1 Flame Retardants
5.2.2 Fungicidal creams
5.2.3 Explosive primers
5.2.4 Antioxidants
5.2.5 UV Stabilizers
5.2.6 Conveyers
5.2.7 Tire
5.2.8 Others

6. Regional Market Analysis (Market size, Growth and forecast)
6.1 Asia-Pacific
6.1.1 China
6.1.2 India
6.1.3 Japan
6.1.4 South Korea
6.1.5 ASEAN Countries
6.1.6 Rest of Asia-Pacific
6.2 North America
6.2.1 United States
6.2.2 Canada
6.2.3 Mexico
6.2.4 Rest of North America
6.3 Europe
6.3.1 Germany
6.3.2 United Kingdom
6.3.3 Italy
6.3.4 France
6.3.5 Rest of Europe
6.4 South America
6.4.1 Brazil
6.4.2 Argentina
6.4.3 Rest of South America
6.5 Middle East & Africa
6.5.1 Saudi Arabia
6.5.2 South Africa
6.5.3 Rest of Middle East & Africa

7. Future of the Market

8. Competitive Landscape
8.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
8.2 Market Share Analysis**
8.3 Strategies Adopted by Leading Players

9. Company Profiles (Overview, Financials**, Products & Services, Recent Developments)
9.1 Aldon Corporation
9.2 AminoChem
9.3 Atul Ltd
9.4 Deepak Nitrite Ltd
9.5 Dynea
9.6 Jay Organics
9.7 Mitsui Chemicals
9.8 Napp Technologies
9.9 Sigma-Aldrich
9.10 Sumitomo Chemicals
*List not exhaustive

10. Disclaimer
** Subject to availability on public domain
Note: Product cover images may vary from those shown
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  • Aldon Corporation
  • AminoChem
  • Atul Ltd
  • Deepak Nitrite Ltd
  • Dynea
  • Jay Organics
  • Mitsui Chemicals
  • Napp Technologies
  • Sigma-Aldrich
  • Sumitomo Chemicals
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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