Cresols Market Size And Forecast
The Global Cresols Market report provides a holistic evaluation of the market for the forecast period. The report comprises various segments as well as an analysis of the trends and factors that are playing a substantial role in the market. These factors; the market dynamics involve the drivers, restraints, opportunities, and challenges through which the impact of these factors in the market is outlined. The drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market. The Global Cresols Market study provides an outlook on the development of the market in terms of revenue throughout the prognosis period.
Cresols Market was valued at USD 277.76 Million in 2019 and is projected to reach USD 355.01 Million by 2027, growing at a CAGR of 3.13 % from 2020 to 2027.
What are Cresols?
Cresols, also known as hydroxytoluene are methyl phenol organic compounds. They are considered as phenolics and they are manufactured by aromatic organic compound group. Based on the temperature, these can be found in solid and liquid form with their melting points not above the room temperature. Similar to the other types of phenols, they are oxidized gradually by long air exposure. The cresols have a yellow to brown-red tint colour owing to the impurities it contains when compared to other basic phenols cresols having characteristic odor. They are predominately used in dietary supplements and animal feed additives, and chemical intermediates.
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Global Cresols Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
The growing demand for synthetic vitamin E in food supplements, growing cresol demand in agrochemicals & pesticides, changing consumer lifestyle and food habits with shifting food nutrition content owing to adulteration diseases is expected to fuel the growth of the global cresols market.
The increase in the adoption of cresol derivatives as a raw material in the production of antioxidants in chemical intermediates and personal care is anticipated to propel the market growth. However, the rising stress on the butylated hydroxytoluene, stringent environmental regulations towards the production, packaging, transportation, usage, and disposal of cresols are the potential restraints hindering the overall growth of the market. The increasing awareness among people, and untapped potential in emerging markets offer favorable growth opportunities.
Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements that interests the client. The “Global Cresols Market” is mainly bifurcated into sub-segments which can provide classified data regarding the latest trends in the market.
Global Cresols Market Competitive Landscape
The “Global Cresols Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such Sasol Phenolics, Saudi Basic Industries Corporation (SABIC), Lanxess AG, Dakota Gasification Company, RÜTGERS Group, Mitsui Chemicals Inc., Atul Ltd., Nanjing Datang Chemical Co. Ltd., Ardisons Oils & Electricals (P) Ltd., Xiamen Hisunny Chemical Co. LTD., and Others. Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.
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Cresols Market, By Product Type
Cresols Market, By Application
• Chemical Intermediates
Cresols Market, By Geographic Scope
• North America
o Rest of Europe
• Asia Pacific
o Rest of Asia Pacific
• Rest of the World
o Middle East & Africa
o Latin America
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