Phenol is a scented rudimentary composite and is generally used to fight microorganisms. It is an agent that is used to make salol and aspirin. Phenol is also used as a beginner substance for the production of nylon. Phenolic resins are the most vital products from phenol.
Phenolic resins are caprolactam, bisphenol A and salicylic acid. Feedstocks that are generally used for different purposes are benzene, toluene, propylene and chlorine. Their prices are highly unstable and keep on varying according to the costs of crude oil.
There are many technologies involved in the production of phenol. The most significant of them is the procedure of Âcumene oxidationÂ wherein the derivative is acetone. Phenol is also referred to as carbolic acid and is similar to alcohol in terms of the arrangement.
Its acidity levels are higher than that of alcohol and can lead to chemical burns. That is why, it needs to be handled very carefully. With many significant applications, it can be transformed to plastic and other allied substances.
The worldwide demand for industrial phenol has been rising at a stable rate in the past few years. This is due to the use of its derivates (which are used in making a broad range of products) and profitable feasibility.
All the derivatives made up for more than 70 percent of the worldwide demand for phenol in 2010. One of the main components pushing the growth of the phenol market is the recent rise of the market of wind energy.
The boost in demand for epoxy resins used for wind motorized energy generators is estimated to expand the phenol market. This is owing to more worldwide focus on resources of energy that are sustainable.
The worldwide phenol market application sector consists of polycarbonates, epoxy resins, phenolic resins, bakelite, nylon, detergents, herbicides and pharmaceutical drugs.
Polycarbonates recently occupied the biggest share in the phenol market. They are estimated to develop for the expected period in the future, due to their broad variety of applications in mechanical industries.
End Use Overview
The end use sector of the phenol market consists of caprolactam, bisphenol, phenolic resins and others.
Bisphenol occupied more than half of the entire share in the worldwide phenol market and is estimated to be the most vital end use sector in the forecast period.
The phenol market is also divided on the basis of regions. The regions include Europe, North America, Asia Pacific and the rest of the world.
Asia Pacific makes up for the biggest share in the phenol market for the projected period. The increasing demand in this region offers a broad variety of prospects to the industry.
Several mechanized plants for the derivatives of acetone and phenol are increasing the demand by a huge extent in Asia Pacific.
China has come up as the biggest end user and manufacturer across the globe and is thought to be the main driver of the Asian Pacific phenol market.
The European and North American regional markets are developing gradually. They are estimated to carry on likewise in the expected period, and are being compensated for, by the Asian Pacific phenol market.
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