Xylenols Market Size, Share, and Industry Analysis By Product (2,3- Xylenols, 2,4- Xylenols, 2,5- Xylenols, 2,6- Xylenols, 3,5- Xylenols, and Others), By End Use (Automotive, Pharmaceuticals, Agrochemicals, Dyes and Pigments, and Others), and Regional Forecast till 2032

The global xylenols market is anticipated to expand considerably, due to the growing requirement for the chemicals in a range of oilfield activities and growing product insistence for plastic production. Xylenols are a group of aromatic compounds. It is derived from a hydrocarbon present in crude oil, xylene. They are chemicals, which are utilized as an organic solvent as well as fungicide.

• According to the U.S. International Trade Commission (USITC), approximately 460 metric tons of xylenols-containing products imported in the U.S.

Xylenol is an isomeric organic compound, which is formed from phenol with two methyl groups attached to the benzene rings. It has several properties such as volatile, solid or oily liquid, colorless, which is slightly soluble in water.

Xylenols Market Driver

Growing Insistence for Phenolic Resins and Expansion of Oilfield Chemicals Boost Market Growth

The growing aspect for market growth is raising requirements for phenolic resins, particularly in construction and automobile industries. These resins are wide-ranging used for manufacturing of adhesives, coatings, and molding multifaceted. The solvent is essential for creation for phenol resins that amplify demand for the compounds. In addition, expansion of agrochemical applications is fueling demand for the substance and impelling market growth. The compound acts as an intermediate in manufacturing of pesticides and herbicides. It is sustaining agricultural productivity and so boosting demand for the material.

• According to the European Commission (EC), around 18 manufacturers are using xylenols in the EU.

Furthermore, development of oilfield chemicals is another factor that propels market growth. The compound is widely exploited in various oilfield activities, such as sustainable oil exploration and productions. In addition, expanding utilization of the compound in disinfectants is bolstering market growth. Xylenols are incorporated in the making of antiseptics and disinfectants due to the antimicrobial properties. The demand for disinfectants increased mainly after the pandemic, which is supporting market growth.

Xylenols Market Restraint

Instability in Raw Material Prices and Stringent Environmental Regulations Impede Market Growth

The off-putting factor for market hindrance is the rising volatility in cost of raw material. The stability of crude oil prices is affecting the product cost of xylenols as it is a key resource for the substance. Thus, overall it is impacting on production economics and hampering market growth. In addition, disruption in the supply chain is also hampering market growth. It impacts on availability of raw material and delivery of finished goods to the end-users. Due to interruption in supply chain management, it may cause delays in the distribution system and process.

Furthermore, imposition of strict regulatory standards by the governments and organizations is hindering market growth. It is posing a barrier for chemical manufacturing processes and it potentially raises operation costs. This is deterring many players from penetrating into the sectors.

Xylenols Market Opportunity

Advancements in Green Chemistry and Diversification into Cosmetics Products Create Opportunity for Market Growth

One of the significant opportunities for market growth is the mounting sustainable chemistry advancements. Manufacturers are producing and developing eco-friendly production methods for substance. It is offering environmentally friendly products and caters to sustainability goals. This product is drawing the attention of environment conscious people and consequently impelling market growth.

• According to the National Science and Technology Development Agency (NSTDA), about 13 xylenols toxicity research is funded by the government in Asia.

Furthermore, expanding product diversification into personal care items is offering new avenues for market growth. It is suitable for various personal care products due to its antimicrobial properties which is useful for cosmetic goods. In addition, growing emerging economies of developing countries are fostering market growth. Rapid industrialization and urbanization are pushing demand for the component in a variety of application fields.

Segmentation

Key Insights

The report covers the following key insights:

• Augmented Demand in Disinfectants and Intensifying Demand for Phenolic Resins by Key Countries
• Progression in Green Chemistry by Key Companies
• Drivers, Restraints, Trends, and Opportunities
• Business Strategies Adopted by Key Players
• Consolidated SWOT Analysis of Key Players
• Key Industry Developments (Mergers, Acquisitions, Partnerships)

Analysis by Product

Based on product, the xylenols market is divided into 2, 3- xylenols, 2, 4- xylenols, 2, 5- xylenols, 2, 6- xylenols, 3, 5- xylenols, and others.

The 2, 4- xylenols segment is leading in the market, caused by its extensive utilization in fungicide and an organic solvent. They are used as vital chemical feedstock for numerous goods.

The 2, 6- xylenols segment is projected to grow in this market owing to its rising exploitation in flavoring ingredients, various drinks, solvents, and other sectors.

Analysis by End Use

Based on end use, the xylenols market is divided into automotive, pharmaceuticals, agrochemicals, dyes and pigments, and others.

The automotive sector is the dominating segment in this market. It is attributable to mounting requirements for the matter in the building of vehicle parts, for instance bumpers, interior trim, as well as dashboards.

The pharmaceuticals segment is anticipated to develop in the market. It is due to growing demand for the product by firms of medicines including pain relievers, antiseptics, and disinfectants.

Regional Analysis

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Based on geography, the market has been studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

The Asia Pacific region dominates in the market, driven by escalating production ability of the compound. The existence of numerous laborers leads to lower operational costs and encouraging manufacturing rate in this region. Moreover, expanding healthcare infrastructure in this region is fostering market growth.

North America is witnessing substantial market growth, caused by rising requirements for food and beverages among people. Escalating facilities of pharmacy and its rising demand as well as growing personal care sectors is fueling market growth. In addition, rising awareness about benefits of the substance among end-users is fostering market growth.

Europe is projected to grow at a fast rate in this market owing to the presence of a well-established chemical industry. The growing imposition of stringent regulations is promoting utilization of the effective disinfectants and is fostering market growth. Additionally, mounting production of automotive and construction activities is impelling demand for the products in this region.

Key Players Covered

The report includes the profiles of the following key players:

• Prasol Chemicals Limited (India)
• Deepak Novochem Technologies Limited (India)
• SI Group (U.S.)
• Xiangshui Fumei Chemical Co.,Ltd (China)
• SHIV SHAKTI INDIA (India)
• Dorf Ketal. (India)
• Honshu Chemical Industry Co., Ltd. (Japan)
• Konan Chemical Manufacturing Co., Ltd. (Japan)
• LGC Limited (U.K.)
• Tokyo Chemical Industry (India) Pvt. Ltd. (India)

Key Industry Developments

• In May 2021, Technip Energies unveiled an EPCC agreement signed with Indian Oil (IOC) to deliver a new 1.2 MMTPA PTA plants and related facilities for its Para Xylene (PX) and Purified Terephthalic Acid (PTA) complex projects at Paradip, Orissa.