Global Xylenols Market worth over $3.7 billion by 2026
Published Date: August 13, 2020 Authors: Kunal Ahuja, Sonal Singh
According to a new research report by Global Market Insights, Inc., the global xylenols market size is set to surpass USD 3.7 billion by 2026. These products are widely used in the manufacturing of insecticides, disinfectants, and phenolic resins owing to their unique reactivity properties which is likely to accelerate the market growth.
Rapid growth in pharmaceutical and healthcare sector owing to development of novel formulations for producing drugs and medical devices will support the xylenols market expansion. These products are utilized in production of muscle related medicines and can also be used in cleaning medical devices.
Latin America will witness gains of over 3.5% through 2026. Rising awareness regarding impact of bacterial and other impurities in equipment used in food, chemical, and pharma industries is likely to drive the xylenols market share by the end of 2026. Additionally, growing product usage as drug ingredients for manufacturing cardiovascular medicine will further propel market expansion in forecast timeline.
Rising number of health amenities globally has raised disinfectant agents demand. Growing surgical treatments adoption by hospitals have increased the utilization of medical instruments which has resulted in infectious diseases risk. These infectious diseases can be prevented using disinfectants produced using xylenols.
Growing disposable revenue and increasing government regulations to promote disinfection & hygiene in public areas & medical institutions will favor regional xylenols market growth. Rising disinfectants demand in is predominantly due to the escalating prevalence of COVID 19 among the population. Due to widespread prevalence of COVID 19, a growing trend of superior hygiene among the global population has been witnessed.
Growing product utilization in production of pharmaceuticals, agrochemicals and plastics
Rising demand as an intermediate in manufacturing plastics, agrochemicals, and pharmaceuticals is likely to foster xylenols market growth by the end of forecast timeline. Growing plastic utilizations in sectors including automotive, construction and electronics & electrical in a bid to reduce production cost and to minimize product weight may promote market growth in forecast timeline.
. “As per industry forecasts, 2, 6 xylenols segment is projected to record significant gains at over 8% by 2026 due to rising demand from resin industry”.
Browse key industry insights spread across 215 pages with 196 market data tables and 31 figures & charts from the report, “Global Xylenols Market By Product (2,3- Xylenols, 2,4- Xylenols, 2,5- Xylenol, 2,6- Xylenols, 3,5- Xylenols), By Application (Disinfectants, Solvents, Pharmaceuticals, Agrochemicals, Plasticizers, Oilfield Chemicals, Resins), Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Rising product demand from resin application will foster industry growth
Resin application segment will witness gains of over 5% through 2026. 2,6 xylenols derivative is largely a p-phenylene oxide monomer using carbon–oxygen combination. These products are used as chemical intermediate in polyphenylene ether polymers synthesis, which will drive the xylenols market segment by 2026. Growing end-use of resins in automobile sector is supported by rising low cost & lightweight parts demand with high efficiency and focus on comfort and aesthetics.
Rising pharmaceutical sector in European region will drive industry growth by 2026
Europe xylenols market from pharmaceuticals application is predicted to record gains at over 6% through 2026. This region is the second largest pharmaceutical industry in the world. Supportive government initiatives including “PRIME (Priority Medicine)” implemented by the EU commission. This initiative aims the governments to collaborate with private pharmaceutical manufacturing to produce medications for the unmet health conditions. Xylenols are majorly used to manufacturing pharma products including muscle relaxant drug, metaxalone and acetretin & etretinate drugs for treatment of psoriasis.
The major players in the xylenols industry includes Sasol, SABIC, Merck and SI Group. Market leaders in Global xylenol market are involved in increasing product penetration in end-use industries through new product launches, merger & acquisition and capacity expansion.