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Resorcinol is an organic compound that finds application in a wide range of end-use industries. Thus, its increased utilization of resorcinol in the manufacturing of wood adhesives, rubber, and UV stabilizers is likely to boost demand opportunities in the global resorcinol market during the tenure of 2020 to 2030.
TMR’s upcoming research report on the resorcinol market gives complete analysis of drivers, restraints, challenges, and opportunities in this market. Thus, the report is a helpful tool to gain reliable data on this market.
Resorcinol finds application as a medium for adhesion between reinforcing cords and rubber. It is widely used in the manufacturing of various rubber products utilized in the automotive sector. The list of such products includes tire, belt, and rubber-coated fabric. Thus, increased sales in automotive sector is likely to positively impact on the development of the global resorcinol market during assessment period.
The resorcinol market is estimated to expand at rapid pace on the back of increased use of resorcinol in the production of flame retardants, pharmaceutical products, agriculture chemicals, and fungicidal creams and lotions.
The competitive landscape of the resorcinol market is highly intense due presence of many players in it. Major market players are eyeing maintenance of ISO certified manufacturing plants.
The list of key players in the global resorcinol market includes:
On regional front, Asia Pacific is likely to maintain its dominance in the resorcinol market during the assessment period of 2020–2030. Key reason attributed to this dominance is swift industrialization in developing countries such as India and China.
The rapid growth of the global automotive industry is propelling the demand within the global resorcinol market in the coming years. This growth of the automotive industry, and as a result in the global resorcinol market, is triggered by the presence of several important factors and drivers, including the rising trend of urbanization, increase in the disposable income amongst various groups of the global population, and the increasing demand for passenger vehicles. Additionally, the increasing demand from the adhesives industry is also expected to fast-track the growth within the global resorcinol market in the next few years.
On the other hand, the adverse side effects of the products in the global resorcinol market on human health may hinder the industry’s growth within the next few years. The inhalation of the dust or the vapors created by the solutions in the global resorcinol market can cause irritation in the respiratory tract of humans. Furthermore, the presence of various regulations and standards pertaining to its packaging and labeling, as well as the high cost associated with the disposal of these toxic products may also hamper the growth of the global resorcinol market in the next few years. However, the rising demand for the production of UV light stabilizers, as well as various types of rubber products, is expected to supplement the growth trajectory of the global resorcinol market in the near future.
The products and solutions offered by the manufacturers and leading players in the global resorcinol market offer various unique benefits, owing to their chemical properties. Some of these include higher chemical stability, higher stability in terms of heat, low amount of volatility, higher resistance to solvents, as well as oil, acids, and water, and excellent adhesive qualities. On the back of these qualities, the products and solutions in the global resorcinol market receive substantial demand from a wide range of end-use industries. Furthermore, the flame retardant nature of these products and solutions in the global resorcinol market also makes them attractive for a wide range of applications.
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Resorcinol Market
