APAC to Lead Resorcinol Market through 2025
According
to TechSci Research report, “Global
Resorcinol Market By End-User Industry, By Manufacturing Process, By Application, By
Region, Competition, Forecast & Opportunities, 2025”, the
global resorcinol market is expected to grow steadily over the next five years
and surpass $ 1 billion by 2025. Growing automotive industry coupled with
increasing usage of wood in the construction of residential and commercial
complexes across the globe are the major factors that are projected to
contribute to the market growth over the next five years. Rapid expansion of
automotive sector globally is driving the need for various rubber-based
products, including tires, belts and rubber-coated fabrics, which is providing
a boost to the market. Furthermore, rising usage of the compound during the
production of non-halogenated flame-retardants and various agricultural
chemicals is further aiding the growth of global resorcinol market across the
globe.
Browse 132 market data Figures and Tables spread
through 150 Pages and an in-depth TOC on "Global Resorcinol Market"
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Global
resorcinol market can be segmented based on end-user industry, manufacturing process, application and
region. Considering the end-user industry, the market is fragmented into building
& construction, healthcare, automotive, electrical & electronics, dyes,
explosives and others. The automotive sector is anticipated to register high
growth during the forecast period. This growth can be attributed to its use as
an essential component in automobile tire manufacturing, along with synthetic
rubber latex and formaldehyde in manufacturing tires for trucks, off-road
equipment and other fiber reinforced mechanical materials including conveyor
belts among others. Major
players operating in the global resorcinol market include
Sumitomo Chemicals, Aldon Corporation, Napp Technologies, Zhejiang Hongsheng
Chemical Co Ltd, Tokyo Chemical Industry Co. Ltd, Lanxess AG, Atul Ltd and others.
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“Asia-Pacific is
forecast to dominate the global resorcinol market over the next five years on
the account of rapid industrialization in India & China. Moreover, high growth
of the automotive sector in the region and rising number of government
initiatives to promote and revitalize the construction industry are further
boosting the regional market.”, said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Global Resorcinol Market By End-User Industry, By Manufacturing
Process, By Application, By Region, Competition, Forecast & Opportunities,
2025” has
evaluated the future growth potential of global resorcinol market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in the global resorcinol market.
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