According to the cresols market report published by the Allied Market Research, the study presents impending revenue forecast of the industry for the next few years coupled with imminent market trends and opportunities. According to the report, the global cresols market was at $334.8 million in 2020 and is expected to cross $476.7 million by 2030.

These cresols can interact with CNTs through the function of charge transfer. They take help of the phenolic hydroxyl proton to carry out the interaction. Furthermore, they can be eliminated through processing such as evaporation or washing. The surface of carbon nanotubes is not altered during the course. Cresol solvents are able to maintain the polymer-like viscoelastic properties for CNTs. Moreover, CNTs retain their processing ability. Researchers also demonstrated that cresol solvents have an ability to make the CNTs usable through a broad range of material-processing techniques. Moreover, they enable CNTs in development of desirable structures and form factors. Cresols can be used for making the polymer composites of CNTs. The innovative applications of cresols will continue to be found in the coming years and the market will continue to grow.

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Based on region, the market across Asia-Pacific held the lion’s share in 2020, garnering nearly half of the global market. The same region is also expected to cite the fastest CAGR of 4.3% by the end of 2030. The other provinces studied in the report include North America, Europe, and LAMEA.

The global cresols market report is analyzed across source, product type, application, end-use, and region. Based on source, the synthetic segment accounted for the major share in 2020, holding nearly three-fifths of the global market.

Based on product-type, the para-cresol segment generated the highest share in 2020, accounting for more than two-fifths of the global market. The ortho-cresol segment, on the other hand, would cite the fastest CAGR of 4.0% from 2021 to 2030.

By Product Type

  1. Para-Cresol
  2. Meta-Cresol
  3. Ortho-Cresol

On the basis of source, the global cresols market is segmented into natural and synthetic. By product type, it is divided into para-cresol, meta-cresol, and ortho-cresol. By application, it is divided into chemical intermediate, solvents, preservative, and antioxidants. On the basis of end use, the market is divided into pharmaceuticals, chemical, paint & coating, and others.

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COVID-19 Scenario-

  1. Rapidly growing pharmaceutical industry, during the pandemic, has given way to increase in demand for cresols across the globe, thereby impacting the market positively.
  2. However, on the other hand, the temporary ban on exports and imports, especially during the initial phase, affected the sector to some extent, thereby giving the global cresols market a mixed impact altogether.

The key market players analyzed in the global cresols market report include ATUL Dakota Gasification Company, Lanxess AG, VDH CHEM TECH PVT. LTD.,  Konan Chemical Manufacturing Co., SABIC Sasol Limited Ltd., Mitsui Chemicals, Nanjing Datang Chemical Co., Ltd., and Anhui Haihua Chemical Technology Co., Ltd. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.

Key offerings of the report:

  • Key drivers & Opportunities: Detailed analysis on driving factors and opportunities in different segments for strategizing.
  • Current trends & forecasts: Comprehensive analysis on latest trends, development, and forecasts for next few years to take next steps.
  • Segmental analysis: Each segment analysis and driving factors along with revenue forecasts and growth rate analysis.
  • Regional Analysis: Thorough analysis of each region help market players devise expansion strategies and take a leap.
  • Competitive Landscape: Extensive insights on each of the leading market players for outlining competitive scenario and take steps accordingly.

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