2-Iodophenol Market Share

APAC Market Forecasts

The 2-Iodophenol market in the Asia Pacific is predicted to hold the highest revenue share of 58% by 2037. In Asia Pacific, China is the largest producer of phenol which predicted to be the factor behind the growth this market in the Asia Pacific region. In 2020, China's demand for phenol is estimated at 2690.2 thousand tons, while by 2030 it is expected to increase to 539.8 thousand tons. This leading position is thoroughly enjoyed by Asia Pacific region owing to increasing consumption and production of phenol in China. Addition China is one of the biggest markets for chemical and pharmaceutical sector. Furthermore, growing purchasing strength in consumers have significantly raised the rate of investments in chemical, construction and automotive sector in the region as a result driving the growth of the market in the forecast period. Except for China the market is also anticipated to grow in other parts of region such as in India and other ASEAN countries. Growing healthcare expenditure, financial development and supportive policy environment is anticipated to escalate the market growth in the Asia Pacific region during the time period between 2024-2037.

European Market Statistics

The 2-Iodophenol market in the European region is set to grow significantly during the forecast period 2024-2037. The growth of this market can be attributed on the account of increasing presence of pandemic in this region. High utilization of 2-Iodophenol in medical and pharmaceutical application in the European region is set to drive the growth of the market in the projected period. Presence of advanced and developed pharmaceutical industry in the Europe region is s a significant factor driving the growth of the market in the projected period. Additionally, increasing focus on sustainable material and strict environmental standards are raising the demand for eco-friendly chemical products as a result driving the market growth in the Europe region during the time period between 2024-2037.  Furthermore, phenol and substitutes play significant of chemical solvent in various sectors in the region that include chemical, biology and medical laboratories to households this poised to drive the expansion of market in the upcoming period.