Global demand for phenol to reach 11.6 million tons by 2020 with Asia-Pacific region to account for 51.2% of demand, market researcher says; BPA, phenolic resins and caprolactam were leading end-use segments in 2010
January 26, 2012
– MarketResearch.com has announced the addition of the new report "Phenol Global Market to 2020 - Consistent Demand for Bisphenol-A, Phenolic Resins & Caprolactam Will Drive Future Growth," to their collection of Chemicals market reports. For more information, visit http://www.marketresearch.com/GBI-Research-v3759/Phenol-Global-Consistent-Demand-Bisphenol-6768930/
The global demand for phenol has been steadily increasing over the last 10 years. In 2000, global phenol demand stood at 6,072,774 tons, before increasing to 7,934,218 tons in 2010. A significant portion of the increase in demand for phenol was from the Asia-Pacific region, and this is expected to continue in the forecast period. The Asia-Pacific region is expected to account for 51.2% of global phenol demand in 2020. The global demand for phenol will increase to reach 11,576,620 tons by 2020.
China has rapidly emerged as a global petrochemical products manufacturing hub. Production in China enjoys the advantage of lower operating costs than the majority of other countries, but China currently imports a considerable amount of phenol in order to produce phenol derivatives such as Bisphenol A (BPA), phenolic resins, salicylic acid and nonylphenol. As a result there is huge scope for phenol capacity additions in China. Demand from China is currently driving the Asia-Pacific market's demand for phenol and it is expected to drive the demand in the future.
Bisphenol A (BPA), phenolic resins and caprolactam were the leading end-use segments for phenol in 2010, with 2,761,915 tons, 2,181,698 tons and 1,001,903 tons of demand, respectively, Together they accounted for more than 70% of global phenol demand. In terms of the end-uses of phenol, a similar trend is expected to continue throughout the forecast period until 2020.
The recent increase in demand for epoxy resins (derived from phenol and acetone via BPA) from wind turbine power generators, where epoxy resins are used extensively in the rotor blade composites, is expected to continue due to the increased focus globally on sustainable alternative energy sources in the current environment of high costs with crude oil and energy. With a 20% per annum growth projected for the wind energy market, the phenol and acetone industry is expected to see growth and a wide range of opportunities in the next five years.
MarketResearch.com is the leading provider of global market intelligence products and services. With over 300,000 research reports from more than 700 top consulting and advisory firms, MarketResearch.com offers instant online access to the world's most extensive database of expert insights on global industries, companies, products, and trends. For more information, call Veronica Franco at 240-747-3016 or visit www.MarketResearch.com.