According to the research report titled ‘Phenol Derivatives Market Size By Product (Phenol [By Application {Bisphenol A, Phenolic resins, Caprolactam, Alkyl Phenol, Adipic Acid], By Derivative Bisphenol A [Polycarbonate {Automotive, Optical Media, Electronics, Construction}, Epoxy Resins {Paints & Coatings, Marine, Electrical & Electronics, Construction}], Phenolic Resins [Wood Adhesives, Foundry & Moulding Compounds, Laminates, Insulation], Caprolactam [Nylon Fiber {Textile Fiber, Industrial Yarn, Carpet}, Resin Films], Alkyl Phenol [Detergents, Additives], Adipic Acid [Nylon 66, Polyurethane]), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 – 2025’, available at MarketStudyReport.com, the global phenol derivatives market is projected to cross USD 67 billion by the year 2025.
 

Rising adoption of phenol derivatives in various industries owing to their favorable chemical structure is a major factor driving the phenol derivatives market. The product contains phenyls and hydroxy bond groups which are used in developing commercial household products. It offers efficient reaction mechanism and improved production capability at low operational cost. Thus, surging need of products made from phenol in automotive industry, coupled with growing automotive and construction sectors are augmenting the demand for phenol derivatives across the globe.
 

In terms of product type, the report cites that products made from phenolic resins will dominate the phenol derivatives market over the forecast period. These compounds offer properties such as dimension stability, chemical and heat resistance. Extensive use of phenolic resin for production of circuit boards and for developing paints, adhesives, coatings, plastics, and primers which are utilized across various sectors will bolster the segmental growth.
 

On the other hand, bisphenol A market is also expected to grow in the upcoming years, since it is a vital ingredient used for producing plastics such as polycarbonates and epoxy resins. Polycarbonate can be used under high temperatures, hence supporting the applications across automotive and construction industry. While due to high insulating properties, it is largely used for products associated with telecommunications and electrical hardware.
 

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Considering geographical landscape, Asia-Pacific held the largest regional share in phenol derivatives market in 2018, owing to rapid urbanization and favorable government regulations. Escalating disposable income, coupled with shifting consumer inclination towards aesthetic, functionality, and comfort, and surging demand for automobiles, agricultural equipment, furniture, and household & industrial appliances will fuel the demand for phenol derivatives across the region.
 

The prominent companies operating in phenol derivatives industry are Ineos Phenol, PTT Phenol, Shandong Shen Quan Chemicals Co. Ltd., Bayer Material Science, Mitsubishi Corp., Covestro AG, and BASF among others.