What is Global Cresylic Acid Market?
The Global Cresylic Acid Market is a vast and dynamic sector that encompasses the production, distribution, and consumption of Cresylic Acid on a global scale. Cresylic Acid, a versatile organic compound, is used in a variety of industries, including the manufacturing of resins, plastics, and electronics, as well as in the chemical sector. The market's value was estimated to be US$ 676.7 million in 2022, and it is projected to grow to US$ 905.6 million by 2029. This represents a Compound Annual Growth Rate (CAGR) of 4.2% from 2023 to 2029. Sasol, a major player in the market, held a 23.59% share in 2019.
Two-Component Cresylic Acid, Three-Component Cresylic Acid, Multi-Component Cresylic Acid in the Global Cresylic Acid Market:
The Global Cresylic Acid Market is segmented into three categories based on the composition of the Cresylic Acid: Two-Component, Three-Component, and Multi-Component Cresylic Acid. Two-Component Cresylic Acid is a simple mixture of two different Cresylic Acid molecules, while Three-Component Cresylic Acid is a more complex mixture of three different Cresylic Acid molecules. Multi-Component Cresylic Acid, on the other hand, is a complex mixture of multiple Cresylic Acid molecules. Each type of Cresylic Acid has its own unique properties and applications, making them suitable for different industries and uses.
Resins & Plastics, Electronics, Chemical, Others in the Global Cresylic Acid Market:
The Global Cresylic Acid Market finds its applications in a variety of sectors. In the Resins & Plastics industry, Cresylic Acid is used as a raw material for the production of various types of resins and plastics. In the Electronics industry, Cresylic Acid is used in the manufacturing of electronic components and devices. In the Chemical industry, Cresylic Acid is used as a chemical intermediate in the production of other chemicals. Other industries also use Cresylic Acid for various purposes.
Global Cresylic Acid Market Outlook:
The future outlook of the Global Cresylic Acid Market is promising. The market was valued at US$ 676.7 million in 2022 and is expected to reach US$ 905.6 million by 2029, growing at a CAGR of 4.2% during the forecast period from 2023 to 2029. This growth is driven by the increasing demand for Cresylic Acid in various industries, including Resins & Plastics, Electronics, and Chemicals. In 2019, Sasol, a leading player in the market, held a 23.59% share. The company's strong position in the market is indicative of the competitive nature of the Global Cresylic Acid Market.
| Report Metric | Details |
| Report Name | Cresylic Acid Market |
| Accounted market size in 2022 | US$ 676.7 million |
| Forecasted market size in 2029 | US$ 905.6 million |
| CAGR | 4.2% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Sasol, Dakota Gasification Company, DEZA, Rain Carbon (RUTGERS), Mitsui Chemicals, Atul, Lanxess, SABIC, Asahi Kasei, SI Group, VDH Chem Tech, SHIV SHAKTI, TNJ Chemical, Nanjing Ningkang Chemical, Deepak Novochem Technologies, JFE Chemical Corporation, Nippon Steel and Sumikin Chemical, Juye Runjia Chemical, Dorf Ketal Chemicals, Changzhou Junchi Chemical, Changzhou City Teng Yang Chemical, Shanghai FeiGe Chemical, Chengjiang Pharmaceutical Science and Technology |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
