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Phenol Market by Derivative Type and Geography - Forecast and Analysis 2020-2024

  • Published: Apr 2020
  • Pages: 120
  • SKU: IRTNTR41158
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The phenol market size has the potential to grow by USD 3.16 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period because of the steady increase in year-over-year growth.

This report provides a detailed analysis of the market by derivative type (BPA, phenolic resins, nylon-KA oil, and others) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Compañía Española de Petróleos SA, Covestro AG, Honeywell International Inc., INEOS Group Holdings SA, Kumho Petrochemical Co. Ltd., Mitsubishi Chemical Holdings Corp., Mitsui Chemicals Inc., PTT Global Chemical Plc, Royal Dutch Shell Plc, and Solvay SA.

Market Overview

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Market Competitive Analysis

The phenol market is fragmented. The rapid advances in the global wind energy market will create ample growth opportunities for market vendors. Mitsubishi Chemical Holdings Corp., Mitsui Chemicals Inc., PTT Global Chemical Plc, Royal Dutch Shell Plc, and Solvay SA are some of the major market participants. Although the increasing demand for phenol from developing economies will offer immense growth opportunities, safety concerns associated with the use of phenol will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this phenol market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this phenol market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

  • Compañía Española de Petróleos SA
  • Covestro AG
  • Honeywell International Inc.
  • INEOS Group Holdings SA
  • Kumho Petrochemical Co. Ltd.
  • Mitsubishi Chemical Holdings Corp.
  • Mitsui Chemicals, Inc.
  • PTT Global Chemical Plc
  • Royal Dutch Shell Plc
  • Solvay SA

Phenol Market: Segmentation by Region

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APAC was the largest phenol market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The widespread use of phenol across various sectors will significantly influence phenol market growth in this region.

Almost 53% of the market’s growth will originate from APAC during the forecast period. China, Taiwan, and South Korea (Republic of Korea) are the key markets for phenol in APAC. Market growth in this region will be faster than the growth of the market in Europe, MEA, and North America.

Phenol Market: Segmentation by Derivative Type

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BPA is a colorless, solid, synthetic compound, which is soluble in organic solvents. The wide application of BPA is expected to drive its demand, thereby contributing to the growth of the segment during the forecast period.

However, market growth in this segment will be slower than the growth of the market in the phenolic resins, nylon-KA oil, and other segments. This report provides an accurate prediction of the contribution of all the segments to the growth of the phenol market size.

Phenol Market: Key Drivers and Trends

The rise in the GDP of the developing countries such as India, Russia, China, Brazil, and Indonesia will fuel the growth of manufacturing industries in these regions. This will drive the demand for phenol. Our research analysis identifies that this rising demand for phenol in developing countries will be one of the major factors that will have a positive impact on the growth of the market. The rising income and the increased purchasing power of people in the developing countries of APAC is attracting more investments in the automotive, construction, and chemical industries. This will also provide phenol manufacturing companies opportunities to capitalize on the growth of these industries in the emerging economies.

The introduction of the alternative manufacturing process is one of the latest phenol market trends that will gain traction in the phenol market. One of the widely used alternative processes for manufacturing phenol is the utilization of benzene. The process of manufacturing phenol directly from benzene consists of using a copper chromium oxide catalyst with 96.7% selectivity. This process is more manageable and economically feasible compared to the synthetic route for producing phenol.

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Phenol Market: Key Highlights of the Report for the Forecast Period 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive phenol market growth during the next five years
  • Precise estimation of the phenol market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the phenol industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of phenol market vendors

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Executive Summary

  • Market Overview

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Five Forces Summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Customer landscape

  • Overview

Drivers, Challenges, and Trends

  • Market drivers
  • Volume driver - Demand led growth
  • Volume driver - Supply led growth
  • Volume driver - External factors
  • Volume driver - Demand shift in adjacent markets
  • Price driver - Inflation
  • Price driver - Shift from lower to higher-priced units
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Compañía Española de Petróleos SA
  • Covestro AG
  • Honeywell International Inc.
  • INEOS Group Holdings SA
  • Kumho Petrochemical Co. Ltd.
  • Mitsubishi Chemical Holdings Corp.
  • Mitsui Chemicals, Inc.
  • PTT Global Chemical Plc
  • Royal Dutch Shell Plc
  • Solvay SA

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The phenol market growth will increase by $3.16 billion during 2019-2024.
The phenol market is expected to grow at a CAGR of 4.44% during 2019-2024.
Technavio has segmented the phenol market by other 1 (BPA, Phenolic resins, Nylon-KA oil, and Others) and geographic (APAC, Europe, North America, and South America).
Compañía Española de Petróleos SA, Covestro AG, Honeywell International Inc., INEOS Group Holdings SA, Kumho Petrochemical Co. Ltd., Mitsubishi Chemical Holdings Corp., Mitsui Chemicals Inc., PTT Global Chemical Plc, Royal Dutch Shell Plc, Solvay SA are a few of the key vendors in the phenol market.
APAC will register the highest growth rate of 54.07% among the other regions. Therefore, the phenol market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
  • China
  • US
  • Taiwan
  • South Korea (Republic of Korea)
  • Germany
The key factors driving the phenol market growth are:
  • Increasing application of phenol across various sectors
  • Increase in seaborne trade
The phenol market vendors should focus on grabbing business opportunities from the bpa segment as it accounted for the largest market share in the base year.
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