Growing Automotive and Construction Industries Drive Global Resorcinol Market to $551.6 Million by 2028

DUBLIN, Sept. 5, 2023 /PRNewswire/ -- The "Resorcinol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global resorcinol market achieved a value of $475.9 million in 2022. Looking ahead, the market is projected to reach $551.6 million by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 2.42% during the period from 2023 to 2028.

Resorcinol, a white crystalline solid soluble in alcohol, ether, and water, is used in various industries such as rubber, chemicals, automotive, and construction. It enhances adhesive strength, acts as a wood-binding agent, and finds applications in fire retardants, dyes, UV stabilizers, explosives, and herbicides.

Market Drivers and Trends

• The growing automotive industry and increasing wood usage in construction are driving the market. Resorcinol is used as a wood-binding agent due to its cost-effectiveness, stability, and resistance to various factors.
• The compound is used in manufacturing light screening agents for UV protection of plastic products.
• Resorcinol is used as a binding medium for rubber and reinforcing cords in automotive products like belts, tires, and rubber-coated fabrics.
• It's utilized in non-halogenated flame-retardants and agricultural chemicals production.
• Medical applications include use as an antiseptic and disinfectant in skincare products for treating various skin-related ailments.

Market Segmentation

The global resorcinol market is segmented by application, production method, end-use industry, and region:

Application:

• Tire and Rubber Products
• Wood Adhesives and Binders
• UV Products and Dyes
• Flame Retardants
• Others

Production Method:

• Benzene Disulfonation
• Hydroperoxidation of Meta-Diisopropylbenzene
• Hydrolysis of Meta-Phenylenediamine

End-Use Industry:

• Automotive
• Building and Construction
• Healthcare
• Electrical and Electronics
• Others

Region:

• Asia Pacific
• Europe
• North America
• Middle East and Africa
• Latin America

Competitive Landscape

Key players in the resorcinol market include Akrochem Corporation, Aldon Corporation, Alfa Aesar (Thermo Fisher Scientific Inc.), Amino-Chem Co., Ltd., Atul Ltd., Dynea AS, Euram Chemicals Ltd., Indspec Chemical Corporation, Jiangsu Zhongdan Group Co., Ltd., Mitsui Chemicals Inc., Napp Technologies LLC, Sigma-Aldrich Corporation, Sumitomo Chemicals Co. Ltd., and more.

Key Questions Answered in This Report:

• How has the global resorcinol market performed so far and how will it perform in the coming years?
• What are the key regional markets in the global resorcinol industry?
• What has been the impact of COVID-19 on the global resorcinol market?
• What is the breakup of the market based on the application?
• What is the breakup of the market based on the production method?
• What is the breakup of the market based on the end-use industry?
• What are the various stages in the value chain of the global resorcinol industry?
• What are the key driving factors and challenges in the global resorcinol industry?
• What is the structure of the global resorcinol industry and who are the key players?
• What is the degree of competition in the global resorcinol industry?

For more information about this report visit https://www.researchandmarkets.com/r/kuz1ur

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SOURCE Research and Markets