Phenol Market: By Product Type (Phenolic Resins, Caprolactam, Bisphenol-A, and Others), By End User (Chemical, Construction, Automotive, Electronic Communication, Metallurgy, and Others), and Country

Purchase Option

$ 4400
$ 6600
$ 8900

Phenol Market size was valued at USD 24,198.5 million in 2023 and is projected to reach USD 35,907.7 million by 2030 is poised to grow at 5.8% CAGR from 2024-2030. The phenol market is driven by the factors such as growing demand from the construction industry, expanding application in electrical and electronics industries, increasing use in automotive applications, and rising application in the medical and pharmaceutical industries. Phenol is a key raw material in the production of plywood, laminated boards, and other construction materials, the rising demand for housing and infrastructure development in developing countries is expected to drive the phenol market growth, phenol are being used in the production of automotive parts such as dashboards, door panels, and bumpers. The growing automotive industry, particularly in Asia Pacific, is expected to propel the demand for phenol.

Additionally, phenol is used in the manufacturing of printed circuit boards and other electrical components. The increasing demand for consumer electronics and advancements in the electrical and electronics sector are expected to create significant growth opportunities for the phenol market. Phenol is used in the production of various drugs, disinfectants, and antiseptic solutions. The growing healthcare sector and increasing awareness about hygiene are expected to drive the demand for phenol in these applications. Despite the positive outlook, yet the stringent environmental regulations, fluctuating prices of crude oil, and health and safety concerns are the constraints in the market which effects the market growth, and however, the development of bio-based phenol, rising demand from emerging economies, and increasing applications in new industries are the opportunities in the market which will shape the market in the upcoming years with the significant growth.

Phenol Market Key Developments:
  • In April 2023, INEOS Phenol also acquired Mitsui Phenols Singapore Ltd. for a sum of USD 330 million. The acquisition covers the entire capital base from Mitsui Phenols located in Singapore, adding more than 1 million tonnes of capacity each year. The company has a $750 million annual revenue. The acquisition includes phenol of 310 thousand tonnes per annum along with other chemicals like cumene, acetone, alpha-methylstyrene, and bisphenol A.
  • In December 2022, the formation of MX Phenol Acetone Corporation as a joint venture between Mitsubishi Chemical Corporation (MCC) and Mitsui Chemicals, Inc. (MCI) is indeed a significant development in the chemical industry. With the planned production capacity of 1 million tons of phenol and 600,000 tons of acetone per year, this venture is poised to have a substantial impact on the market dynamics of these chemicals.

Phenol Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

5.8%

Largest Market

North America

Fastest Growing Market

Asia Pacific
Phenol Market Dynamics

The phenol market is growing due to the development of bio-based phenol from renewable resources such as sugarcane bagasse can offer a sustainable alternative to traditional phenol derived from fossil fuels, this can help address environmental concerns and create new growth opportunities in the market, and the growing demand for phenol from emerging economies such as China and India is expected to propel the market growth, and these regions are experiencing rapid industrialization and urbanization, which is driving up the demand for phenol-based products. Technological advancements in phenol production processes are leading to increased efficiency and reduced costs. This can improve the profitability of the phenol market and finding new applications in various industries, such as the production of bio-adhesives and flame retardants, this can open up new avenues for market expansion. The phenol market is witnessing a growing trend towards the adoption of sustainable practices. Manufacturers are increasingly focusing on bio-based phenol production and developing processes that minimize environmental impact.

Phenol Market Segmentation

By Product Type
  • Phenolic Resins
  • Caprolactam
  • Bisphenol-A
  • Others
By End User
  • Chemical
  • Construction
  • Automotive
  • Electronic communication
  • Metallurgy
  • Others
Geography
  • North America
  • Europe
  • The Asia Pacific
  • Latin America
  • MEA

Frequently Asked Questions

The phenol market was valued at USD 24,198.5 million in 2023 and is projected to grow at 5.8% CAGR over the forecast years to reach USD 35,907.7 million by 2030.

• Growing demand from the construction industry
• Expanding application in electrical and electronics industries
• Increasing use in automotive applications
• Growing demand from the construction industry
• Expanding application in electrical and electronics industries
• Increasing use in automotive applications
• Rising application in the medical and pharmaceutical industries

• Development of bio-based phenol
• Rising demand from emerging economies
• Increasing applications in new industries

• The stringent environmental regulations
• Fluctuating prices of crude oil
• Health and safety concerns

Market research is segmented based on product type, end-user, and region.

Asia-Pacific is the dominating region in the phenol market

Key Features of the Reports

  • The phenol market report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and key strategies.
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market.
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market.
  • The report provides a plethora of information about Market entry strategies, regulatory framework, and reimbursement scenarios.
1.Executive Summary
2.Global Phenol Market Introduction 
2.1.Global Phenol Market  - Taxonomy
2.2.Global Phenol Market  - Definitions
2.2.1.Product Type
2.2.2.End User
2.2.3.Region
3.Global Phenol Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Product Landscape
3.6. New Product Launches
3.7. Impact of COVID 19 on Market
4.Global Phenol Market Analysis, 2019 - 2023 and Forecast 2024 - 2030
4.1.  Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
4.2.  Year-Over-Year (Y-o-Y) Growth Analysis (%) 
4.3.  Market Opportunity Analysis 
5.Global Phenol Market  By Product Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
5.1. Phenolic Resins
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.1.3. Market Opportunity Analysis 
5.2. Caprolactam
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.2.3. Market Opportunity Analysis 
5.3. Bisphenol-A
5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.3.3. Market Opportunity Analysis 
5.4. Others
5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.4.3. Market Opportunity Analysis 
6.Global Phenol Market  By End User, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
6.1. Chemical
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.1.3. Market Opportunity Analysis 
6.2. Construction
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.2.3. Market Opportunity Analysis 
6.3. Automotive
6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.3.3. Market Opportunity Analysis 
6.4. Electronic communication
6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.4.3. Market Opportunity Analysis 
6.5. Metallurgy
6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.5.3. Market Opportunity Analysis 
6.6. Others
6.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.6.3. Market Opportunity Analysis 
7.Global Phenol Market  By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
7.1. North America
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.1.3. Market Opportunity Analysis 
7.2. Europe
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.2.3. Market Opportunity Analysis 
7.3. Asia Pacific (APAC)
7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.3.3. Market Opportunity Analysis 
7.4. Middle East and Africa (MEA)
7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.4.3. Market Opportunity Analysis 
7.5. Latin America
7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.5.3. Market Opportunity Analysis 
8.North America Phenol Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
8.1. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
8.1.1.Phenolic Resins
8.1.2.Caprolactam
8.1.3.Bisphenol-A
8.1.4.Others
8.2.  End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
8.2.1.Chemical
8.2.2.Construction
8.2.3.Automotive
8.2.4.Electronic communication
8.2.5.Metallurgy
8.2.6.Others
8.3.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
8.3.1.United States of America (USA)
8.3.2.Canada
9.Europe Phenol Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
9.1. Product Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.1.1.Phenolic Resins
9.1.2.Caprolactam
9.1.3.Bisphenol-A
9.1.4.Others
9.2.  End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.2.1.Chemical
9.2.2.Construction
9.2.3.Automotive
9.2.4.Electronic communication
9.2.5.Metallurgy
9.2.6.Others
9.3.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.3.1.Germany
9.3.2.France
9.3.3.Italy
9.3.4.United Kingdom (UK)
9.3.5.Spain
10.Asia Pacific (APAC) Phenol Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
10.1. Product Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.1.1.Phenolic Resins
10.1.2.Caprolactam
10.1.3.Bisphenol-A
10.1.4.Others
10.2.  End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.2.1.Chemical
10.2.2.Construction
10.2.3.Automotive
10.2.4.Electronic communication
10.2.5.Metallurgy
10.2.6.Others
10.3.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.3.1.China
10.3.2.India
10.3.3.Australia and New Zealand (ANZ)
10.3.4.Japan
10.3.5.Rest of APAC
11.Middle East and Africa (MEA) Phenol Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
11.1. Product Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.1.1.Phenolic Resins
11.1.2.Caprolactam
11.1.3.Bisphenol-A
11.1.4.Others
11.2.  End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.2.1.Chemical
11.2.2.Construction
11.2.3.Automotive
11.2.4.Electronic communication
11.2.5.Metallurgy
11.2.6.Others
11.3.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.3.1.GCC Countries
11.3.2.South Africa
11.3.3.Rest of MEA
12.Latin America Phenol Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
12.1. Product Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.1.1.Phenolic Resins
12.1.2.Caprolactam
12.1.3.Bisphenol-A
12.1.4.Others
12.2.  End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.2.1.Chemical
12.2.2.Construction
12.2.3.Automotive
12.2.4.Electronic communication
12.2.5.Metallurgy
12.2.6.Others
12.3.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.3.1.Brazil
12.3.2.Mexico
12.3.3.Rest of LA
13. Competition Landscape
13.1.  Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) 
13.2.1.Aditya Birla Chemicals
13.2.2.Bayer Material Science
13.2.3.Cepsa
13.2.4.Formosa Chemicals and Fibers
13.2.5.Ineos Phenol
13.2.6.Kumho P & B Chemicals
13.2.7.Mitsubishi Corporation
13.2.8.Mitsui Chemicals
13.2.9.PTT Phenol
13.2.10.Quimica
13.2.11.Shandong Sheng Quan Chemicals Co. Ltd.
13.2.12.Solvay S.A.
14. Research Methodology 
15. Appendix and Abbreviations 
  • Aditya Birla Chemicals
  • Bayer Material Science
  • Cepsa
  • Formosa Chemicals and Fibers
  • Ineos Phenol
  • Kumho P & B Chemicals
  • Mitsubishi Corporation
  • Mitsui Chemicals
  • PTT Phenol
  • Quimica
  • Shandong Sheng Quan Chemicals Co. Ltd.
  • Solvay S.A.

Adjacent Markets