The impact of COVID-19 pandemic can be felt across the chemical industry. The growing inability in the production and manufacturing processes, in the light of the self-quarantined workforce has caused a major disruption in the supply chain across the sector. Restrictions encouraged by this pandemic are obstructing the production of essentials such as life-saving drugs.
The nature of operation in chemical plants that cannot be easily stopped and started, makes the operational restrictions in these plants a serious concern for the industry leaders. Restricted and delayed shipments from China have created a price hike in the raw materials, affecting the core of the chemicals industry. The slacking demand from different impacted industries such as automotive is negatively influencing the growth of the chemical industry.
In light of the current crisis, the market leaders are focused to become self-reliant which is expected to benefit the economic growth of different economies in the longer term. Companies are triggering events to restructure and recover from the losses incurred during the COVID-19 pandemic.
To remain ‘ahead’ of your competitors, request for a sample here@
The chemical industry is focused to keep the business operations running along with ensuring the labor safety amid the COVID-19 pandemic. To recover the losses created by the decline in demand for various products, the companies are capitalizing on the escalating demand for products such as disinfectants and personal protective equipment. Many leading players in the chemical industry have expanded their business to enter into the production of safety products. Companies are resorting to advanced technologies in production to reduce the dependence on work-force.
They are increasingly adopting advanced digital capabilities to integrate supply chain and logistics to ensure the effective delivery of products. The industry heads are seeking the real-time situation of their supply chains to identify potential weaknesses, especially in terms of geography, and strengthen it. The financial disclosures are being extended beyond the usual financial statements to deal with the risks that have aroused amid the COVID-19 pandemic.
Cresols is an aromatic organic compound and obtained from coal tar or petroleum as a mixture of three stereoisomers i.e. Ortho Cresols, Meta Cresols and Para Cresols. It is generally referred as tricresol or cresolic acid and very toxic in nature. It is a strong dermal irritant and on inhalation by human, it may cause serious hazards such as dryness, nasal constriction, and throat irritation among others. However it is widely used for variety of applications such as disinfectants, antiseptics, preservative and agrochemicals among others.
Ortho, Meta and Para cresol are stereoisomers and commercially manufactured as phenol derivatives. There are two well-known manufacturing processes of cresol i.e. methylation of phenol using methanol and sulfonation of toluene, followed by hydrolysis. However manufacturing of cresol from toluene is industrially preferred route. It is appeared either as liquid or in solid form with sweet and phenolic odor. Cresol mixture is industrially preferred preservative, solvent, disinfectant and wood preservative. Meta cresol is for manufacturing of herbicides, insecticides, antioxidants, photographic chemicals and explosive. While para cresol is majorly used for manufacturing of antioxidants, dyes and fragrance chemicals. Ortho cresol has found great application as chemical intermediates, pharmaceutical intermediate, disinfectants and solvent.
Cresols Market: Market Dynamics
Average price of cresol is subjected to change with geographies and does not follow volume to revenue ration in each individual geographies. Growing demand for specialty chemicals, pharmaceuticals intermediates and industrial lubricants is expected to drive global consumption of cresols. The growing demand for antioxidants and preservatives is another accelerator for global market of cresols. Sustainability of the global cresols market is majorly depends on price and availability of raw materials. However alarming government regulations on use of cresols for certain applications such as in cosmetics and hair and dye products may restrain the overall consumption of cresols across the globe.
Cresols Market: Segmentation
On basis of product types, global cresols market can be segmented as follow as;
- Ortho Cresols
- Meta Cresols
- Para Cresols
On basis of applications, global cresols market can be segmented as follow as;
- Chemical Intermediates
- Dyes Manufacturing
- Fragrance Manufacturing
On basis of geographies, global cresols market can be segmented as follow as;
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan (APEJ)
- Middle East and Africa (MEA)
Cresols Market: Regional Outlook
Major consumers of cresols are China, U.S., Western Europe and Japan and collectively accounted for more than 60% of total world consumption in 2015. China is the largest market in Asia-Pacific followed by India in 2016, and is expected to grow rapidly in the near future. Owing to cresol’s value added applications such as solvent, disinfectant and preservative, it is expected that the consumption of cresol will grow steadily especially in China and India. This is primarily because of expansion of end-use industries such as rubber and plastics, pharmaceuticals, dyes and chemicals in Asia Pacific. U.S. and Western Europe are two leading consumer of cresolic acid and consumption of cresol by this two geographies is expected to grow steadily at a CAGR of 3.0% till 2020.
Request For Report Table of Content (TOC)@ https://www.persistencemarketresearch.com/samples/11092
Cresols Market: Key Players
Some of the key players in the global cresols market are as follow as;
- Atul Limited
- Sasol Phenolics
- Mitsui Chemicals Inc.
- Dakota Gasification Company
- Nanjing Datang Chemical Co., Ltd.
- Saudi Basic Industries Corporation
- Sokolovská Uhelná, Právní Nástupce, a.s.
- Rütgers Chemicals GmbH
- C-Chem Co., Ltd.
- Lanxess AG
Pre-Book Right Now for Exclusive Analyst Support @https://www.persistencemarketresearch.com/checkout/11092