NEW YORK, Sept. 6, 2021 /PRNewswire/ — The global alkyl phenol derivatives market is estimated to expand at the rate of 3.3% over the assessment period of 2021 and 2031. Demand for alkyl phenol derivatives is expected to remain prominent from rubber and plastic, lubricant & oil, paint & coating, and adhesive industries. Phenolic resins are also expected to bolster consumption of alkyl phenol derivatives over the coming years.
The East Asia region is anticipated to remain the key manufacturer and exporter of alkyl phenol derivatives as compared to others. This is due to the strong presence of various manufacturers, especially in China.
As alkyl phenol derivatives can be used in the manufacturing of antioxidants, UV stabilizers, chemical intermediates and several resins, the product finds application across various industries, which is fueling its sales volume.
Market players are involved in capacity expansion and acquisition & JV agreements to enhance their presence in this space.
- On 23 March 2021, SI Group announced Tackifier capacity expansion in France.
- In Sept 2020, SI Group announced Tackifier capacity expansion in China.
- In 2019, DIC Corporation acquired BASF Colors & Effect, which was BASF’s subsidiary for the pigment sector.
- In 2020, Songwon Industrial Co. Ltd. entered into a distribution agreement with A. S. Paterson Company Ltd. in order to support the growth of performance chemicals across Canada.
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Key Takeaways from Market Study
- The global alkyl phenol derivatives market is anticipated to reach a value of US$ 640 Mn by 3021.
- Rubber and plastic segment is expected to remain a key end use of alkyl phenol derivatives.
- East Asia is expected to hold a prominent share in the global consumption of alkyl phenol derivatives. The region is estimated to hold around 35.8% market share.
- By application, antioxidants are anticipated to witness substantial growth of around 3.5%.
- Pata-tert-butyl phenol is expected to remain a key product type. Global consumption of pata-tert-butyl phenol is expected to increase significantly for the production of phenolic resins.
“Key market players are focusing on expansion of their alkyl phenol derivatives business and increase their market footprint across the globe,” says a Persistence Market Research analyst.
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Competitive Landscape
The global market for alkyl phenol derivatives has been identified as a fairly consolidated space.
Some of the key market participants included in the report are DIC Corporation, SI Group, TASCO Group, Sasol Limited, United Chemical Products Ltd., Maruzen Petrochemical Co., Ltd., FabriChem (NutriScience Innovations, LLC), HELM AG, Jiyi Group, SONGWON Industrial Group, Qingdao Scienoc Chemical Co., Ltd., Red Avenue New Material Group Co., Ltd., Prasol Chemicals Pvt. Ltd., Vinati Organics Limited, Novokuibyshevsk Petrochemical Company, Afton Chemical Corporation, Dayang Chem (Hangzhou) Co., Ltd., and Nanjing Datang Chemical Co., Ltd.
Prominent players are anticipated to create a competitive environment across the globe.
Conclusion
The global alkyl phenol derivatives business is expected to witness considerable growth owing to increasing demand from rubber & plastic, lubricant & oil, adhesive, and various other end-use industries.
Wide range of applications of various product types of alkyl phenol derivatives has resulted in steady market expansion. Growing demand for various resins the market is expected to drive the growth rate of the market.
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More Valuable Insights
Persistence Market Research, a research and consulting firm, has published a new market research report on the Global alkyl phenol derivatives market that contains industry analysis of 2016–2020 and opportunity assessment for 2021–2031.
The report provides in-depth analysis of the market through different segments, namely, product type, application, end use, and region. The report also provides supply and demand trends along with an overview of the parent market.
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