The global resorcinol market is expected to reach USD 623.63 Million by 2028, according to a new report by Reports and Data. The growth of the market is attributed to the growing demand for resorcinol in end-use applications.
Growing demand for resorcinol in tire production is one of the significant factors influencing the market growth. Resorcinol is commercially used to enhance the adhesion of inorganic and organic reinforcing materials to rubber. The primary use for rubber (natural/synthetic) is in the production of tires for passenger cars, racing cars, motorcycles, bicycles, off-the-road vehicles, trucks, and aircraft. Similarly, the primary application of resorcinol in the current scenario is as a stiffening/ bonding agent in rubber deployed for making tires and the primary reason for using resorcinol in tires is to enhance the adhesive property of the rubber to the underlining material under real-time service conditions, such as, speed and moisture which result in heat buildup. Also, resorcinol contributes to interlayer adhesion of the rubber compound.
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Top Companies: Alfa Aesar, Dynea AS, Kraeber & Co. GmbH, Sumitomo Chemicals Co. Ltd., Atul Ltd., Indspec Chemical Corporation, Jiangsu Zhongdan Chemical Group Corporation, Akrochem Corporation, Euram Chemicals Ltd., and Sigma-Aldrich, among others.
Further key findings from the report suggest
- Resorcinol is produced commercially across the globe where benzene is used as the major feedstock, and only two production methods are used on a large scale for commercial purposes. Of the two production methods, resorcinol is primarily produced by sulfonation of benzene under conditions supporting replacement in the meta position trailed by anhydrous caustic fusion.
- By distribution channel, the online distribution channel is projected to grow at a faster rate of 4.9% in the period 2020-2028, as this mode of distribution has the advantage of providing a broader exposure to the product produced by the manufacturers, especially with the proliferation of smart devices and internet connectivity.
- The application of resorcinol as UV stabilizers contributed to the second largest market share in 2020 and is likely to grow at a rate of 2.3% in the forecast period. Resorcinol is used in the production of UV absorbers, which are used in widespread applications including plastics, coatings, adhesives, along with elastomers to shield them from the adverse effect of UV radiation.
- The market in the Asia Pacific region dominated the market in 2020 and is likely to grow at a rate of 3.5% in the forecast period. The market dominance of the APAC region is owing to the growing demand for resorcinol, especially in the production of rubber products such as tires, and a rise in the level of disposable income of people in the region, among others.
Production Method Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)
- Benzene Sulfonation
- Meta-Diisopropylbenzene Preoxidation
Distribution Channel Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)
- Online
- Offline
Application Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)
- Rubber Products
- UV Stabilization
- Wood Adhesives
- Flame Retardants
- Others
Significant Features that are under Offering and Key Highlights of the Reports:
– Detailed overview of the Resorcinol Market
– Changes in industry market dynamics
– Detailed market segmentation by type, application, etc.
– Historical, current and projected market size in terms of quantity and value
– Recent industry trends and developments
– Competition situation of Resorcinol Market
– Key companies and product strategies
– Potential niche segment/region showing promising growth.
Finally, the Resorcinol Market Report is the authoritative source for market research that can dramatically accelerate your business. The report shows economic conditions such as major locales, item values, profits, limits, generation, supply, requirements, market development rates, and numbers.
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