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Global Para Cresol Market: Overview

Para cresol is an organic compound and a derivative of phenol that is widely used in the production of other chemicals. It is produced through two process: sulfonation of toluene and chlorination of toluene. Para cresol is widely used in the production of antioxidants such as butylated hydroxy toluene (BHT), anisaldehyde, and other intermediates. In addition, it is used in various other applications such as odor agents, paints & coatings, aroma ingredients, sunscreen, resins, and cleaning & degreasing agents. It also finds application in production of plant protection agents, animal feed additives, pharmaceuticals, binding agents, adhesives, fillers, preservatives, and dyestuffs.

Global Para Cresol Market: Key Segments

The global para cresol market can be segmented based on application and region. In terms of application, the market can be classified into chemical intermediates, antioxidants, solvents, and preservatives. Antioxidants is a leading segment of the para cresol market. Increase in demand for vitamin E in dietary supplements due to a rise in health concerns across the globe, change in food habits, and depletion of nutrition in food due to adulteration are driving demand for dietary supplements. This, in turn, is expected to boost the para cresol market in the coming years.  Furthermore, rise in demand for nutraceuticals, typically in the U.S. and Europe, owing to a rise in consumer awareness regarding nutrient consumption is projected to fuel the market during the forecast period.

Global Para Cresol Market: Drivers & Restraints

Rise in demand for antioxidants such as BHT for various applications such as pharmaceutical, cosmetics, and transformer oil is anticipated to augment the global para cresol market during the forecast period. Toluene is a major raw material used in the production of para cresol. Therefore, fluctuations in the prices of toluene are likely to restrain the market during the forecast period. Moreover, the para cresol separation process entails additional costs as boiling point temperature of cresol is close to boiling point temperate of toluene which ultimately needs high processing techniques for separation. The manufacturing process also produces waste that is toxic to the aquatic environment. These factors are estimated to further restrain the market. In order to treat toxic waste, many companies are focusing on waste management. For instance in 2015, Atul Ltd., a leading manufacturer of para cresol, in collaboration with Degussa, established an automated waste recovery plant that enhances waste recovery efficiency and minimizes waste disposal. Increase in demand for toluene for other applications such as toluene di isocyanate (TDI) and rise in demand for xylene are pushing manufacturers to form partnerships with suppliers, which is projected to boost the market in the near future.

Global Para Cresol Market: Regional Outlook

In terms of region, the global para cresol market can be segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. In terms of consumption, Asia Pacific is a leading region of the para cresol market, followed by Europe and North America. In Asia Pacific, developing economies and sub-regions such as China, India, and ASEAN are expected to record positive sales during the forecast period, primarily due to an increase in demand for vitamin E, agrochemicals, and coatings in the region. In addition, rising disposable incomes, changing consumer lifestyles, and increase in demand for antioxidants due to rise in awareness about health care are likely to fuel the para cresol market in the region. The market in Europe is expected to expand at a moderate rate, primarily due to expansion in the pharmaceutical and agrochemical industry in the region. In North America, the U.S. is a key consumer of para cresol. Rise in demand for packed food is driving demand for preservatives and, in turn, for para cresol in the country. The market in Middle East & Africa and Latin America is projected to expand at a sluggish pace. Rise in production and consumption of perfumes in GCC and rapid industrialization in Mexico and Brazil are expected to boost demand for para cresol in Middle East & Africa and Latin America in the near future.

Global Para Cresol Market: Key Players

Key players operating in the global para cresol market are Tokyo Chemical Industry Co., Ltd., Atul Ltd, Sasol Phenolics, and Lanxess. 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

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

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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