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Cresols are methylphenols widely occurring natural as well as synthetic group of aromatic compounds classified as phenols. Cresols are often observed in liquid as well as solid state according to the temperature. Melting point if cresols is nearly the same as room temperature. Structurally, cresol is methyl group attached to phenol ring. Cresols are precursor to several important compounds including pharmaceuticals, plastic, dyes, and pesticides.
Increasing demand for cresol as precursor attributed to increasing demand for derivative compounds like BHT, MCPA, MCPB, mecoprop, tolimidone, amylmetacresol, and others shall drive the market growth. Additionally, increasing demand for synthetically developed Vitamin E is expected to drive the market.
However, inhalation and exposure to cresols can have significant detrimental effect on health including irritation and burning of skin, eyes, mouth, throat as well as abdominal pain and vomiting. This is expected to limit the market growth.
Key Market Driver -
increasing adoption of cresol as precursor.
Key Market Restraint -
Negative health effects on exposure.
Based on product the market is segmented into ortho cresol, meta cresol, and para cresol. Based on end-user industry, market is segmented into medical, pharmaceutical, chemical, agrochemical, industrial, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global cresol market consists of global & regional players operating. Some of the key players in the market include, Lanxess AG, Atul Ltd, Anhui Haihua Chemical Technology Co., Ltd, Mitsui Chemicals, Mitsui Chemicals Inc, Nanjing Datang Chemical Co., Ltd, Konan Chemical Manufacturing Co., Ltd., Sasol Ltd, SABIC, and others.
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is estimated to hold largest share in market. Large manufacturing base for chemical industries is likely to boost the regional growth. North America is expected to show significant growth attributed to increasing demand from industrial and agrochemical sector. Europe shall exhibit considerable growth due to the high demand from medical and pharmaceutical sector. Latin America and Middle East & Africa shall exhibit sluggish growth by the end of forecast period.
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