Resorcinol Market- Global Industry Size, Share, Growth, Opportunity and Forecast, 2018-2028, Segmented By Application (Tire and Rubber Products, Wood Adhesives and Binders, UV Products and Dyes, Flame Retardants, Fungicidal Creams, and others), By End-Users(Automotive, Building and Construction, Healthcare, Electrical and Electronics, and others), By Region (North America, Europe, the Asia-Pacific, the Middle-East & Africa, and Latin America)

  • Published Date: March 2022
  • Report ID: BWC22074
  • Available Format: PDF
  • Page: 197

Report Overview

The market growth of resorcinol is attributed to factors such as high cost-effectiveness, chemical stability, resistance to solvents, salt-water, acids, and oil. It is also used in manufacturing light screening agents, which are used to protect plastic products against ultraviolet (UV) rays.

Global Resorcinol Market- Industry Trends & Forecast Report 2028

The global resorcinol market was worth USD 872 million in 2021, and it is further projected to reach USD 1.6 billion by 2028, exhibiting a CAGR of 9.4% during 2022-2028 (forecast period). Anticipated growth in the market is attributed to factors such as high cost-effectiveness, chemical stability, and resistance to solvents, salt-water, acids and oil. It is also used in manufacturing light screening agents, which are used to protect plastic products against ultraviolet (UV) rays. Furthermore, with the growth in the automotive sector, there is an emerging need for various types of rubber-based products such as belts, tires, and rubber-coated fabrics, which is boosting the resorcinol market, globally.

Global Resorcinol Market

Resorcinol Market Overview

Resorcinol is an organic compound having formula C6H4(OH)2 and is also known as 1,3-Benzenediol. Resorcinol is a crystalline solid which is white in colour and soluble in water, alcohol and ether. It has a faint odor with a sweetish taste, and is used explicitly for adhesion purposes and the production of pharmaceutical plastics. Resorcinol is obtained from the crystallization of benzene. The main characteristic of Resorcinol is the bonding or stiffing properties with numerous industries and the ability to bond compounds such as wooden & rubber products well to various types of surfaces.

Resorcinol Market Trends

Growth Drivers

Rising Application in Pharmaceutical Industry Driving Resorcinol Market

In the pharmaceutical industry, resorcinol is used as an antiseptic and disinfectant in topical pharmaceutical products for the treatment of skin infections (acne, seborrhoea dermatitis, eczema, psoriasis, corns, calluses, and warts). Resorcinol inherits a keratolytic action and works in removing hard, scaly, and roughened skin. Although it is mainly prescribed as a topical application, resorcinol also exerts a well-documented anti-thyroidal activity that is usually not relied upon for any formal therapeutic indication. An increasing number of infectious diseases all over the globe helps to enhance the market of resorcinol. Also, the growing pharmaceutical industry where resorcinol is used to manufacture various pharma drugs, fungicidal creams, etc., would lead to an upsurge in demand for Resorcinol during the forecast period.

Growth of Automotive Industry Raising Demand for Resorcinol Market

Due to resorcinol's bonding and stiffing properties, it is widely used in the transportation sector to manufacture belts, seats, rubber-coated fabric, interior and exterior finishing, tires, etc. The wide range of applications in the automotive industry are expected to contribute to the market demand for resorcinol. In addition, resorcinol's strength and adhesive property, such as waterproofing capacity with strong adhesive nature, makes it superior for various industrial activities such as wood industries and large ship companies. So there would be an increase in the demand for resorcinol in the coming years. Resorcinol is also used as a raw material in the production of UV absorbers and various resins, including coatings, adhesives, and plastics, therefore, fuelling the growth of the global resorcinol market.

Restraints

Heavy Use of Resorcinol Can Potentially Cause Various Health Disease

The rising use of resorcinol in the cosmetic and food industry across the globe is resulting in increasing incidences of health diseases. In vitro research has shown that resorcinol can cause a variety of health problems, from skin irritation to possible endocrine disruption, posing a threat to the market growth.

However, growing health concerns and stringent regulations in countries such as Japan, Germany, and the United States are likely to restrain the usage of the resorcinol market. For Instance, Japan has restricted the use of resorcinol in cosmetics. The EU has placed limits over the concentration of the chemicals; Also, in the United States, the exposure of resorcinol to workers is regulated. Hence, these factors are anticipated to impede the growth of the global resorcinol market in the coming years.

Impact of COVID-19 on Global Resorcinol Market

COVID-19 had a severe impact on most industries throughout the world, causing significant disruptions in manufacturing and supply chains as a result of numerous precautionary lockdowns. The same applies to the global resorcinol market due to decreased demand from end-users such as automotive, building, construction, and others. Furthermore, consumer demand has dropped as consumers have been more focused on removing non-essential expenses from their budgets, such as cosmetics or personal care products. As a result of the outbreak, most people's economic situation has deteriorated significantly. These factors are expected to impede the market growth of the global resorcinol market during the forecast period.

Global Resorcinol Market- By Application

Based on application global resorcinol market is segmented into tire and rubber products, wood adhesives and binders, UV products and dyes, flame retardants, fungicidal creams, and others. Among these segments, the tire and rubber products segment accounted for the largest revenue and held the majority of the market share in 2021. With the growth of the automobile industry, there is a growth in the manufacture of tire and rubber products, thus, enhancing the global resorcinol market growth. Additionally, the fungicidal creams segment also contributes to the global resorcinol market growth due to continuously increasing skin disorders.

Global Resorcinol Market Share

Global Resorcinol Market- By End-Users

Based on end-users, the global resorcinol market is segmented into automotive, building and construction, healthcare, electrical and electronics, and others. The Automotive segment received the largest share in the global resorcinol market in 2021 and is further anticipated to lead the market due to the increasing demand for resorcinol in the automobile sector for the production of major parts as interior and exterior work of seat, dashboard, finishing of automobiles. Followed by the automotive sector healthcare sector is also holding a promising position in the market due to an increase in skin treatment and rising trend for personal care products is expected to expand the global resorcinol market.

Global Resorcinol Market- Regional Insights

On a regional level, the resorcinol market is categorized into North America, Europe, the Asia-Pacific, Latin America, and the Middle East & Africa. The North America region catered the largest market share across the globe and is anticipated to following the same trend during the forecast period due to the continuous demand for automotive products and increasing per capita income in the region. Followed by the North America region, the Asia Pacific is likely to maintain its dominance in the resorcinol market during the forecasted period. The key factors supporting the growth of the Asia-Pacific region are swift industrialization and rising demand for automobiles in developing countries such as India and China.

Competitive Landscape

The global resorcinol market is partially fragmented in nature. The key players dominating the resorcinol market are Akrochem Corporation, Aldon Corporation, Alfa Aesa, Amino-Chem Co. Ltd., Atul Ltd., Dynea AS, Euram Chemicals Ltd, Indspec Chemical Corporation, Jiangsu Zhongdan Group Co., Ltd., Kraeber& Co. GmbH, Mitsui Chemicals, NappTechnologies, Sigma-Aldrich, Sumitomo Chemicals Co. Ltd., and other prominent players. The players maintain their dominance by investing and launching enhanced products and services to customers. Different strategies adopted by players are engaging strategic alliances and collaborations.

Recent Development

  • In January 2022 Colorsmith, The First And Only Custom Home Hair Color For Men; The brand's tested hair color formula consists the high quality of ingredients as well as Keratin and Soybean Protein, Vitamin E, and is Ammonia-, PPD-, Resorcinol-, Paraben-, and Phthalate-free.

 

Scope of Report:

Attribute Details
Years Considered Historical data – 2018-2021
Base Year – 2021
Forecast – 2022 – 2028
Facts Covered Revenue in USD Million
Market Coverage United States, Canada, Germany, United Kingdom, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Mexico,  Saudi Arabia, United Arab Emirates, South Africa
Product/Service Segmentation By End-Users, By Application, and By Region
Key Players Key players in the market include are Akrochem Corporation, Aldon Corporation, Alfa Aesa, Amino-Chem Co. Ltd., Atul Ltd., Dynea AS, Euram Chemicals Ltd, Indspec Chemical Corporation, Jiangsu Zhongdan Group Co., Ltd., Kraeber& Co. GmbH, Mitsui Chemicals, NappTechnologies, Sigma-Aldrich, Sumitomo Chemicals Co. Ltd., and other prominent players.

 

By Application

      •  
  • Tire and Rubber Products
  • Wood Adhesives and Binders
  • UV Products and Dyes
  • Flame Retardants
  • Fungicidal Creams
  • Others

By End-Users

      •  
  • Automotive
  • Building and Construction
  • Healthcare
  • Electrical and Electronics
  • Others

By Region

      •  
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Research Methodology
    1. Qualitative Research
      1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
    4. Breakdown of Primary Research Respondents, By Region
    5. Assumption & Limitation
  3. Executive Summary
  4. Global Resorcinol Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
    3. Recent Development/Technological Landscape
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  5. Global Resorcinol Market Overview
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Application
        1. Tire and Rubber Products
        2. Wood Adhesives and Binders
        3. UV Products and Dyes
        4. Flame Retardants
        5. Fungicidal Creams
        6. Others
      2. By End-Users
        1. Automotive
        2. Building and Construction
        3. Healthcare
        4. Electrical and Electronics
        5. Others
      3. By Region
        1. North America
        2. Europe
        3. Asia Pacific
        4. South America
        5. Middle East and Africa
  6. North America Resorcinol Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Application
      2. By End-Users
      3. By Country
        1. United States
        2. Canada
  7. Europe Resorcinol Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Application
      2. By End-Users
      3. By Country
        1. Germany
        2. United Kingdom
        3. Italy
        4. France
        5. Spain
        6. Rest of Europe
  8. The Asia Pacific Resorcinol Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Application
      2. By End-Users
      3. By Country
        1. China
        2. India
        3. Japan
        4. South Korea
        5. Rest of Asia Pacific
  9. Latin America Resorcinol Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Application
      2. By End-Users
      3. By Country
        1. Brazil
        2. Mexico
        3. Rest of Latin America
  10. The Middle East & Africa Resorcinol Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Application
      2. By End-Users
      3. By Country
        1. Saudi Arabia
        2. UAE
        3. South Africa
        4. Rest of Middle East & Africa
  11. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Market Share Analysis, 2021
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Development (Merger, Acquisition, Partnership.)
  12. Impact of Covid-19 on Global Resorcinol Market
  13. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
    1. Akrochem Corporation
    2. Aldon Corporation
    3. Alfa Aesar
    4. Amino-Chem Co. Ltd.
    5. Atul Ltd.
    6. Dynea AS
    7. Euram Chemicals Ltd
    8. Indspec Chemical Corporation
    9. Jiangsu Zhongdan Group Co. Ltd.
    10. Kraeber & Co. GmbH
    11. Mitsui Chemicals
    12. Napp Technologies
    13. Sigma-Aldrich
    14. Sumitomo Chemicals Co. Ltd.
    15. Zhejiang Hongsheng Chemical Co Ltd
    16. Tokyo Chemical Industry Co. Ltd
    17. Lanxess AG
    18. Other Prominent Players
  14. Key Strategic Recommendations

 

*Financial information in case of non-listed companies will be provided as per availability

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

 

List of Figures

 

Figure 1        Global Resorcinol Segmentation

Figure 2        Global Resorcinol Market Value Chain Analysis

Figure 3        Company Market Share Analysis, 2021

Figure 4        Global Resorcinol Market Size, By Value (USD Million), 2018-2028

Figure 5        Global Resorcinol Market Share, By Application, By Value, 2018-2028

Figure 6        Global Resorcinol Market Share, By End-Users, By Value, 2018-2028

Figure 7        Global Resorcinol Market Share, By Region, By Value, 2018-2028

Figure 8        North America Resorcinol Market Size, By Value (USD Million), 2018-2028

Figure 9        North America Resorcinol Market Share, By Application, By Value, 2018-2028

Figure 10       North America Resorcinol Market Share, By End-Users, By Value, 2018-2028

Figure 11       North America Resorcinol Market Share, By Country, By Value, 2018-2028

Figure 12       Europe Resorcinol Market Size, By Value (USD Million), 2018-2028

Figure 13       Europe Resorcinol Market Share, By Application, By Value, 2018-2028

Figure 14       Europe Resorcinol Market Share, By End-Users, By Value, 2018-2028

Figure 15       Europe Resorcinol Market Share, By Country, By Value, 2018-2028

Figure 16       The Asia-Pacific Resorcinol Market Size, By Value (USD Million), 2018-2028

Figure 17       The Asia-Pacific Resorcinol Market Share, By Application, By Value, 2018-2028

Figure 18       The Asia-Pacific Resorcinol Market Share, By End-Users, By Value, 2018-2028

Figure 19       The Asia-Pacific Resorcinol Market Share, By Country, By Value, 2018-2028

Figure 20       Latin America Resorcinol Market Size, By Value (USD Million), 2018-2028

Figure 21       Latin America Resorcinol Market Share, By Application, By Value, 2018-2028

Figure 22       Latin America Resorcinol Market Share, By End-Users, By Value, 2018-2028

Figure 23       Latin America Resorcinol Market Share, By Country, By Value, 2018-2028

Figure 24       The Middle East & Africa Resorcinol Market Size, By Value (USD Million), 2018-2028

Figure 25       The Middle East & Africa Resorcinol Market Share, By Application, By Value, 2018-2028

Figure 26       The Middle East & Africa Resorcinol Market Share, By End-Users, By Value, 2018-2028

Figure 27       The Middle East & Africa Resorcinol Market Share, By Country, By Value, 2018-2028

Figure 28       The Middle East & Africa Resorcinol Market Share, By Country, By Value, 2018-2028

 

List of Tables

 

Table 1         Global Resorcinol Market Size, By Application, By Value, 2018-2028

Table 2         Global Resorcinol Market Size, By End-Users, By Value, 2018-2028

Table 3         Global Resorcinol Market Size, By Region, By Value, 2018-2028

Table 4         North America Resorcinol Market Size, By Application, By Value, 2018-2028

Table 5         North America Resorcinol Market Size, By End-Users, By Value, 2018-2028

Table 6         North America Resorcinol Market Size, By Country, By Value, 2018-2028

Table 7         Europe Resorcinol Market Size, By Application, By Value, 2018-2028

Table 8         Europe Resorcinol Market Size, By End-Users, By Value, 2018-2028

Table 9         Europe Resorcinol Market Size, By Country, By Value, 2018-2028

Table 10        The Asia-Pacific Resorcinol Market Size, By Application, By Value, 2018-2028

Table 11        The Asia-Pacific Resorcinol Market Size, By End-Users, By Value, 2018-2028

Table 12        The Asia-Pacific Resorcinol Market Size, By Country, By Value, 2018-2028

Table 13        Latin America Resorcinol Market Size, By Application, By Value, 2018-2028

Table 14        Latin America Resorcinol Market Size, By End-Users, By Value, 2018-2028

Table 15        Latin America Resorcinol Market Size, By Country, By Value, 2018-2028

Table 16        The Middle East & Africa Resorcinol Market Size, By Application, By Value, 2018-2028

Table 17        The Middle East & Africa Resorcinol Market Size, By End-Users, By Value, 2018-2028

Table 18        The Middle East & Africa Resorcinol Market Size, By Country, By Value, 2018-2028

Table 19        Akrochem Corporation Company Overview

Table 20        Akrochem Corporation Financial Overview

Table 21        Aldon Corporation Company Overview

Table 22        Aldon Corporation Financial Overview

Table 23        Amino-Chem Co. Ltd. Company Overview

Table 24        Amino-Chem Co. Ltd. Financial Overview

Table 25        Atul Ltd. Company Overview

Table 26        Atul Ltd. Financial Overview

Table 27        Euram Chemicals Ltd Company Overview

Table 28        Euram Chemicals Ltd Financial Overview

Table 29        Jiangsu Zhongdan Group Co. Ltd. Company Overview

Table 30        Jiangsu Zhongdan Group Co. Ltd. Financial Overview

Table 31        Kraeber & Co. GmbH Company Overview

Table 32        Kraeber & Co. GmbH Financial Overview

Table 33        Mitsui Chemicals Company Overview

Table 34        Mitsui Chemicals Financial Overview

Table 35        Napp Technologies Company Overview

Table 36        Napp Technologies Financial Overview

Table 37        Sigma-Aldrich Company Overview

Table 38        Sigma-Aldrich Financial Overview

Table 39        Sumitomo Chemicals Co. Ltd. Company Overview

Table 40        Sumitomo Chemicals Co. Ltd. Financial Overview

Table 41        Zhejiang Hongsheng Chemical Co Ltd Company Overview

Table 42        Zhejiang Hongsheng Chemical Co Ltd Financial Overview

Table 43        Tokyo Chemical Industry Co. Ltd Company Overview

Table 44        Tokyo Chemical Industry Co. Ltd Financial Overview

Table 45        Lanxess AG Company Overview

Table 46        Lanxess AG Financial Overview

Market Segmentation

By Application

      •  
  • Tire and Rubber Products
  • Wood Adhesives and Binders
  • UV Products and Dyes
  • Flame Retardants
  • Fungicidal Creams
  • Others

By End-Users

  • Automotive
  • Building and Construction
  • Healthcare
  • Electrical and Electronics
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
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