1,3-Benzenediol is another name for resorcinol. Dyes, personal care, pharmaceuticals, plastics, and rubber are some of the sectors that use the chemical. Resorcinol is used to help rubber and reinforcing cords stick together. The chemical resorcinol is commonly used in the tire industry. The chemical has good adhesive properties and can be used to bond both synthetic and metal materials. Resorcinol can be used to make organic compounds with UV-absorbing functional groups. Over the next eight years, these advantages, combined with the development of the automotive industry, are projected to favor demand growth.
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According to NIIR PROJECT CONSULTANCY SERVICES (NPCS) the global value of adhesive resins from resorcinol market is projected to grow at a CAGR of about 4.88%.
Market dynamics: -
The rising demand for rubber products in the tire industry is a major driver of resorcinol demand. Its usage in value-added paints, dye materials, and coatings is growing as a result of its advantageous properties. Since they are non-toxic and environmentally friendly, non-halogenated flame retardants are becoming more common. Since resorcinol is used in their manufacture, this is a major driver of resorcinol demand. Also, as people become more conscious of resorcinol's properties, a slew of new industries are springing up. These factors are also causing it to become more widely used in industries.
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Applications: -
· Flame retardants based on resorcinol are often non-halogenated flame retardants. They have high heat stability and low volatility, as well as the ability to withstand high processing temperatures.
· Because of its chemical stability, resorcinol is used in wood applications. Solvents, salt water, acids, and gasoline are all immune to it. After curing, it serves as a solid adhesive that can withstand a wide range of temperatures. For architectural and building uses, wood-based interior and exterior structures are in high demand.
· Resorcinol is commonly used in the tire industry for a number of applications including automobile tires, bicycle tires, and aircraft tires. Chemicals increase the overall capability of the rubber compounding process. Rubber's static and dynamic modulus both increase as a result of this process. It also has no effect on the overall rubber vulcanization process and improves steel cord adhesion.
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Asia-Pacific arcade: -
In terms of sales, Asia Pacific dominated in 2016 and is predicted to continue dominating for the next eight years. In 2016, the region's market value was USD 242.4 million. Rapid industrialization in India and China, as well as positive growth in the region's automotive sector, are helping to boost overall demand. Various countries' governments have taken steps in the region to encourage and revitalize the construction industry. Such developments are expected to have a positive impact on the region's business development.
Global Arcade: -
By 2025, the global resorcinol market is projected to grow at a CAGR of 3.3 percent to USD 580.3 million. The market is expected to benefit from strong demand from sectors such as construction and automobiles, as well as the production of novel goods. In 2016, the European market was valued at USD 50.8 million, and it is projected to expand at a CAGR of 3.2 percent over the forecast period.
The furniture industry in Europe has a strong presence and is growing rapidly, which is driving demand for resorcinol, which is used in wood adhesives in the region. In 2016, the global resorcinol market was worth 59.0 kilotons. Sumitomo Chemical Co., Ltd., Atul Ltd., TWC Group, and NDSPEC Chemical Corporation are some of the major market players (U.S.).
Conclusion: -
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