SELBYVILLE, Del. - August 13, 2020 - (Newswire.com)
According to the report published by Global Market Insights, Inc., the global xylenols market was estimated at $2.6 billion in 2019 and is slated to exceed $3.7 billion by 2026, registering a CAGR of 6% from 2020 to 2026. The report provides an in-depth analysis of the market size & forecasts, major revenue pockets, growth drivers & opportunities, top winning strategies, competitive scenario, and changing market trends.
The global xylenols market is likely to depict an appreciable growth rate through 2026, driven by the robust utilization of the product in the agro-based chemical sector. Increasing demand for chloroxylenols as a disinfectant agent and an antiseptic for skin disinfection will augment the market share. Xylenols are also used in surgical instruments in tandem with the insecticide and fungicide manufacturing industries.
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Rising demand for xylenol-based plasticizers to increase the softening properties and elasticity of materials will augment the (2,3) Xylenols market segment. The segment may exceed USD 650 million by 2026.
Expansion of the construction industry will push the demand for polyvinyl chloride materials, which are basically prepared from plasticizer additives. These additives are used for manufacturing coatings, fittings, pipes, and insulation materials.
Key reasons for fluorinated xylenols market growth:
- Increasing demand from the drug manufacturing and pharmaceutical sectors
- Strong growth in personal care and disinfectant sectors
- Rising demand for solvents, plasticizers, and resins, across various applications
North America and Europe anticipated to stand tall in the regional hierarchy of xylenols market:
The North America xylenols industry may witness appreciable growth on account of the product application in hospitals, laboratories, and residential spaces to clean floors and filthy surfaces. As per estimates, the size of the North America market may cross USD 700 million by 2026, driven by expanding resin, agrochemical, and oilfield chemical industries. The introduction of chlorinated product forms for applications in numerous industries will further push regional growth.
The Europe xylenols market from pharmaceuticals applications may register 6% CAGR through 2026.
Solvent applications to push the global market share:
The solvent applications segment may record USD 200 million by 2026, driven by the rising product usage as a solvent to clean surgical devices, control infections via providing microbial resistance, treat skin conditions, and reduce the penetration of gram-positive bacteria by unsettling cell walls and resisting enzymes function. Increasing expenditures on healthcare in tandem with the growing number of hospital-acquired infections such as surgical site problems will push the xylenols market growth from solvents in the future.
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Plasticizer applications to drive industry growth:
Global xylenols market from plasticizers application may register 5% CAGR through 2026, powered by properties such as excellent water, moisture, gasoline, alcohol, and alkali resistance. These products are also known to depict very good initial adhesion, stickiness, and tackiness, thereby making them ideal for plastic and resin manufacturing.
Leading market players:
The key market players analyzed in the global xylenols market report include Deepak Novochem Technologies Limited, Honshu Chemical Industry Co., Ltd., Dorf Ketal, SABIC, ALPHA CHEMIKA, Hangzhou Huasheng Pharm & Chem Co., Ltd., SI Group, Konan Chemical Manufacturing Co., Ltd., and SASOL. They have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.
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About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting, and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
GMIPulse, our business analytics platform offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top-level categories and hundreds of industry segments within them, covering regional, company level, and cross-sectional statistics that make our offering a stand-out for decision-makers.
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Original Source: The Xylenols Market is anticipated to hit $3.7 billion by 2026, says Global Market Insights Inc.
