India Phenol Market Size, Share to Grow at a CAGR of 6.14% by FY2032 | ChemAnalyst

Posted February 3, 2023 by chemanalystreports

The India Phenol Market is likely to reach around 800 thousand tonnes by FY2032, at a CAGR of 6.14% during the forecasted period.
According to ChemAnalyst report, “India Phenol Market Analysis: Plant Capacity, Production, Process, Technology, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, Foreign Trade, FY2015-FY2032”, The India Phenol Market is likely to reach around 800 thousand tonnes by FY2032, at a CAGR of 6.14% during the forecasted period. The end-use industries like Phenol Formaldehyde Resin, Bisphenol-A, and Pharmaceuticals are anticipated to accelerate the Phenol Market in India in the forthcoming years.
Phenol is a colorless crystalline substance with the chemical formula (C6H5OH), which is frequently employed as an antiseptic and disinfectant. Honeywell UOP and KBR are two of the significant technologies used to manufacture Phenol in India. Pure phenol is utilised in several therapies and laboratory applications, as well as in some medical procedures such as to treat muscle spasticity. Many important molecules, including phenolic resins, polycarbonates, epoxides, bisphenol A, and medicines like aspirin, and other chemical compounds, are produced using phenol.

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The rising demand for polycarbonate and epoxy resins in a variety of end-user industries, including coatings and paints, sealants, electrical and electronic packaging, and other end-user industries is anticipated to drive the phenol market in India in the forthcoming years. n order to make epoxy resins, BPA and epichlorohydrin are combined. Epoxy resins are becoming a crucial component of many commercial and industrial sectors because of their versatility, high chemical stability, sturdiness, adhesion, toughness, high electrical resistance, and strong durability at both low and high temperatures, due to which they are used in multiple industries. Demand for Phenol in India is likely to grow remarkably in the forecast period driven by strong demand for Phenol Formaldehyde Resin and Bisphenol A (BPA) from the construction sector with rising investments across residential and non-residential buildings across this developing nation. Additionally, the demand for Phenol is expected to increase during the projected period due to growing demand in specialized pharmaceutical applications.

The India Phenol Market is segmented based on end-use, sales channel, and region. Based on end-use, the India Phenol market is segmented into Phenol Formaldehyde Resin, Bisphenol-A, Pharmaceuticals, and Others. Among these, Phenol Formaldehyde Resin is the major consumer of phenol and consumed nearly 60% of the market in FY2022. Phenol Formaldehyde Resin is a versatile material and its properties have made it a preferred material in a variety of sectors, including automobile, aviation, and building as well as electronics, paints & coatings. These resins are used to make plastic laminate, insulation panels, laminated sheets, and waterproof adhesives and paints which are extensively used by the construction sector.

Regionally, the Indian Phenol market is segregated into four regions based on regional consumption: West, South, North, and South, with the West being the leading region. West India has been dominating the market and consumed approximately 55% of the Phenol in FY2022. Due to the existence of major paint, textile, and plasticizer companies in states like Gujarat and Maharashtra, these states are leading Phenol users.

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“India Phenol Market Analysis: Plant Capacity, Production, Process, Technology, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, Foreign Trade, FY2015-FY2032” Major players in the India Phenol market are ION Chemicals, Hindustan Organic Chemicals Ltd., Deepak Phenolics Ltd., and Others.

“The rapidly increasing demand of Phenol as feedstock to chemical compounds like Phenol Formaldehyde Resin, Bisphenol-A, polycarbonates, epoxides, and epoxy resins which are further used by numerous industries such as paints & coatings, adhesives, construction, is expected to strengthen the India Phenol Market in the forecast period until FY2032. Moreover, West India is leading in terms of consuming Phenol with States like Gujarat & Maharashtra with major paint factories situated in these states. With fast-paced urbanization throughout the nation, robust growth in the demand of Phenol is anticipated in the forecast period. “Said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.

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Last Updated February 3, 2023