This Cresylic Acid market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Cresylic Acid market.
Introduction: Cresylic Acid Market
Cresylic acid is the mixture of methylphenol, ethylphenol, dimethyl phenol, and phenol. Cresylic acid is categories under the weak acid family, which is partly miscible in the aqueous solution and has low vapour pressure, on the basis of the flammability, cresylic acid are not flammable but it can burn when not stored under recommended conditions. Basically, cresylic acid is manufactured from the petroleum or from the coal tar in the refineries. The Cresylic acid is extracted and purified from the goal gasification process. Cresylic acid is present in various foods, essential oils, flower extracts, etc. in small proportion. On the basis of chemistry, Cresylic acids are an important chemical building block and chemical feedstock products which are used by the consumer in day to day life. Cresylic acid is used as a raw material for several manufacturing processes owing to their solvency properties and the unique reactivity with the others. The common application of the cresylic acid includes, manufacturers of resins, laminates, construction materials, etc.
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Owing to its highly toxic nature and corrosive application, safety measure are taken during the transportation of the cresylic acid from one place to other. Container should be kept at a warm place, preferably at a desired temperature and also away from the source of ignition. If the cresylic acid is stored at less than required temperature even for a shorter period of time, it may emit hazardous gases. During the cold seasons, appropriate heating of shipping containers is required for the storage of cresylic acid. Manufacturers have to take utmost care about packaging so that the cresylic acid remains stable and perfect for use after the shipping.
Market Dynamics: Cresylic Acid Market
Key application of the cresylic acid is in the production of Vitamin E. Rising demand of the vitamin E and collectively for broad application in animal feed additives to antioxidants for polymer, human nutritional supplements, are expected to be the key drivers for the growth of the cresylic acid market in the coming forecast period. Furthermore, healthy growth of chemical industries is expected to add growth to the cresylic acid market in the near future. The key players in the market have significant opportunity to hold maximum share in terms of value and volume. On the basis of the regional growth, China is expected to create more opportunities for the cresylic acid owing to increase in demand of the end use products of the cresylic acid.
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Regional Outlook: Cresylic Acid Market
The prime factor for the growth of any region is largely dependent on the gross domestic product (GDP) which shows the economic health of the region. Currently, China and India were perceiving the prominent growth in the GDP owing to positive growth in industrial, agriculture as well as from the services sector. Increasing growth in regional economy, increasing foreign investment and similarly availability of the labour at cheap rate, are some of the key factors expected to create market growth in the Asia Pacific region from last couple of years and is expected to continue in the near term. North America and Western Europe is also expected to create positive footprint in the cresylic acid market owing to growth in the regional economy, innovative technologies which reduce the time interval of the process, etc.
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Some of the key players of the cresylic acid market are the
- Lanxess AG
- Asahi Kasei
- SI Group
- Nippon Crenol Co Ltd
- Mitsui Chemicals Inc