Cresols Market Size & Share, by Product Type (Para-Cresol, Meta-Cresol, Ortho-Cresol); Source (Synthetic, Natural); Application (Chemical Intermediates, Solvents, Preservatives, Antioxidants) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 6037
  • Published Date: May 16, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Cresols Market size was valued at USD 440 Million in 2023 and is projected to exceed USD 1 Billion by the end of 2036, expanding at over 4% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of cresols is evaluated at USD 600 Million.

The growing need for chemicals across the globe is expected to augment the demand for cresols, which are a manufactured group of chemicals that can be used in several applications. Moreover, over the past ten years, there has been a notable expansion in the global chemical industry owing to the technological developments that have resulted in the creation of new chemical products and processes, as well as an increase in the need for primary chemicals and a wide range of chemical products, including plastics.

As per the International Energy Agency, the demand for high-value chemicals has increased by 3.0% yearly during the last ten years.


Cresols Market
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Cresols Market: Growth Drivers and Challenges

Growth Drivers

  • Rising need for preservatives - Some isomers of cresol, such as m-cresol, can be employed as inactive substances to act as preservatives in a variety of foods, wood and tobacco smoke, coal tar, crude oil, and chemical mixes. Studies show that more than 35% of customers actively look for natural preservatives since they value their clean label appeal and supposed health benefits.
  • Growing production of dyes and pigments - A member of the phthalein and sulphonphthalein dye family, cresol red is often referred to as o-cresol red, which is used as a tracking dye in DNA, RNA (agarose), and protein (polyacrylamide) electrophoresis, and unlike other dyes, it does not hinder reactions, and therefore it can be used with Taq polymerase. According to a recently published report, approximately one million tons of dyes are produced annually around the world.
  • Increasing preference for vitamins and nutritional supplements - The increase in the number of incidences of food adulteration to accommodate people's changing lifestyles, as well as the growing need for dietary supplements, is expected to aid in the expansion of the worldwide cresols market. The largest element driving interest in cresols is the growing popularity of nutrient E, which is widely used in the enhancement and fortification of food varieties and beverages.
    According to a study published by the National Library of Medicine in 2023, multivitamins (64.1%) were the most commonly reported form of dietary supplements consumed by respondents.
  • Increasing range of applications - Cresols are strong germicides that, in small amounts, also work well as antiseptics and disinfectants. They are frequently used in veterinary medicine and dentistry to remove pulp from teeth.

Challenges

  • Side effects associated with cresols - A well-known uremic toxicant, toluene metabolite, environmental contaminant, and product of accidental poisoning is cresol, which is extremely irritating to mice, rats, and rabbits' skin and eyes. Short-term inhalation exposure to aerosol and vapor mixtures causes respiratory tract irritation, minor lung hemorrhages, weight loss, and degeneration of the heart, liver, kidney, and nerve cells in humans, which can cause symptoms including dryness, tightness of the nose, and irritation of the throat.

    The main ways that people are exposed to cresols are through smoking cigarettes, breathing in air from homes heated by wood or coal, and inhaling car exhaust. Since they are corrosive compounds, cresols can be extremely dangerous, and high concentrations can result in internal burns and skin burns if consumed.
  • Varying feedstock prices - Cresols are a crucial chemical raw material that is derived from coal tar or petroleum feedstocks, and any fluctuation in the price of these materials can impact the overall production cost.

Cresols Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

4%

Base Year Market Size (2023)

USD 440 Million

Forecast Year Market Size (2036)

USD 1 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Cresols Segmentation

Product Type (Para-Cresol, Meta-Cresol, Ortho-Cresol)

Para-cresol segment is anticipated to dominate cresols market share of over 40% by 2036 owing to the growing fragrance and flavor industry. By 2024, the global fragrances industry is expected to bring in around USD 59 billion in sales. This has led to an increase in demand for P-cresol, a naturally occurring substance that is a component in perfumes since it has a powerful flowery aroma.

Moreover, below 95 °F, p-Cresol is a crystalline solid that is employed in explosives, fumigants, disinfectants, photographic development, and the production of synthetic resins. The chemical substance para-Cresol, commonly known as 4-methylphenol, has the formula CH3C6H4(OH) and is a commonly utilized intermediary in the synthesis of other compounds.

Besides this, antioxidants are formulated using p-Cresol, such as butylated hydroxytoluene (BHT), which is used in goods such as transformer oils, rubber, cosmetics, medications, and metalworking fluids.

In addition, meta-Cresol, also known as 3-methylphenol, is a colorless to pale yellow liquid that is used as a disinfectant in antiseptics, hand washes, and prescription soaps. A meta cresol has a methyl substituent at position three that catalyzes the synthesis of other compounds, including insecticides, perfumes, antioxidants, and synthetic vitamin E.

Furthermore, the chemical compound ortho-Cresol has the formula CH3C6H4(OH) and is employed by enterprises that produce dyes. It has exceptional reactivity and solubility qualities, making it a highly versatile compound and an essential raw material in a wide range of production processes.

Application (Chemical Intermediates, Solvents, Preservatives, Antioxidants)

The chemical intermediates segment in the cresols market is set to garner a notable CAGR during the forecast period. The growth can be accredited to the rising production for furniture. As a result, the demand for plywood is growing since it is used to make furniture including office chairs, laptop tables, and tables. Global furniture manufacturing is estimated to be around USD 470 billion, of which more than USD 172 billion are exported and about USD 171 billion are referenced in trade imports.

The creation of cresol and its application as a chemical intermediate in the synthesis of synthetic resins, such as phenol-formaldehyde resins, result in superior wood adhesives for plywood and particleboard that are used to create high-pressure laminates, which are extensively employed in a variety of industries owing to their exceptional qualities like high strength, and durability.

Our in-depth analysis of the cresols market includes the following segments:

            Product Type

  • Para-Cresol
  • Meta-Cresol
  • Ortho-Cresol

            Source

  • Synthetic
  • Natural

            Application

  • Chemical Intermediates
  • Solvents
  • Preservatives
  • Antioxidants

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Cresols Industry- Regional Synopsis

APAC Market Forecast

Asia Pacific region in cresols market is expected to account for revenue share of around 45% by 2036. The market growth in the region is also expected on account of the growing export of chemicals. The region is one of the major exporters of chemicals worldwide with growing global competitiveness and has developed into a strategic pillar.

According to the OEC World, China became the world's top exporter of organic chemicals in 2022 with USD 110 billion worth of exports.

Besides this, the market for meta cresol is growing in Indian cities as the enterprises that manufacture chemicals and export them from the country are the primary producers of meta cresol in huge amounts.

Furthermore, there is a growing need for dietary supplements in Japan which is also known as the third-biggest market for dietary supplements in the world. For instance, in Japan, dietary supplements are being used more often; among healthy adults, the frequency is thought to be over 55%.

North American Market Statistics

The North America region will also encounter tremendous market revenue for the cresols market during the forecast period and will hold the second position owing to the growing usage of pesticides.

Pesticides are widely used in the United States agriculture to manage diseases, weeds, and insect infestation, fertilizers, which may create a huge demand for m-cresols are mainly used as a pesticide intermediate. For instance, each year, more than 1 billion pounds of pesticides are used in the United States (US), and around 5 billion pounds are used globally.

Additionally, the Canadian food packaging business is expanding rapidly, which is partly due to customers' growing inclination to buy packaged goods from convenience and retail outlets.

Research Nester
Cresols Market Size
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Companies Dominating the Cresols Market

top-features-companies

    Several major players are present in the cresols market putting out several strategic initiatives to increase their share of the cresols market.

    • Samyoung Innovation Corp.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Anhui Haihua Chemical Technology Group Co., Ltd.
    • Dakota Gasification Company
    • Konan Chemical Manufacturing Co., Ltd.
    • Lanxess AG
    • Merisol Group of Companies
    • Nanjing Datang Chemical Co., Ltd.
    • Natura&Co
    • Nanjing Long Yan Chemical o., Ltd.
    • RüTGERS Group
    • Sasol Limited
    • NovaBay Pharmaceuticals, Inc.
    • Xiamen Hisunny Chemical Co., Ltd.

In the News

  • Natura&Co announced the introduction of Chronos Intensive Antioxidant Serum which mimics the skin's primary natural antioxidant process while counteracting the effects of free radicals and aids in avoiding the emergence of early aging indicators.
  • NovaBay Pharmaceuticals, Inc. introduced OTC Avenova Eye Health Support oral supplement featuring a combination of MaquiBright, a nutrient-rich, antioxidant-dense extract of the superfruit maqui berry, which is clinically effective in relieving dry eyes and promoting overall eye health, making it unique in the market.

Author Credits:  Radhika Gupta, Shivam Bhutani


  • Report ID: 6037
  • Published Date: May 16, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2023, the industry size of cresols was over USD 0.44 billion.

The market size for cresols is projected to cross USD 1 billion by the end of 2036 expanding at a CAGR of 4% during the forecast period i.e., between 2024-2036.

The major players in the market are Anhui Haihua Chemical Technology Group Co., Ltd., Dakota Gasification Company, Konan Chemical Manufacturing Co., Ltd., Lanxess AG, Merisol Group of Companies, Nanjing Datang Chemical Co., Ltd., Natura&Co, Nanjing Long Yan Chemical o., Ltd., and others.

In terms of product type, the para-Cresol segment is anticipated to account for the largest market share of 40% during 2024-2036.

The Asia Pacific cresols sector is poised to hold the highest share of 45% by 2036.
Cresols Market Report Scope
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