Cresols Market size was over USD 759.74 million in 2024 and is poised to exceed USD 1249.3 million by 2037, witnessing over 3.9% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of cresols is evaluated at USD 783.44 million.
The growing need for chemicals across the globe is expected to augment the demand for cresols, which are a manufactured group of chemicals that can be used in several applications. Moreover, over the past ten years, there has been a notable expansion in the global chemical industry owing to the technological developments that have resulted in the creation of new chemical products and processes, as well as an increase in the need for primary chemicals and a wide range of chemical products, including plastics.
As per the International Energy Agency, the demand for high-value chemicals has increased by 3.0% yearly during the last ten years.
Growth Drivers
Challenges
Base Year |
2024 |
Forecast Year |
2025-2037 |
CAGR |
3.9% |
Base Year Market Size (2024) |
USD 759.74 million |
Forecast Year Market Size (2037) |
USD 1249.3 million |
Regional Scope |
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Product Type (Para-Cresol, Meta-Cresol, Ortho-Cresol)
Para-cresol segment is anticipated to dominate cresols market share of over 40% by 2037 owing to the growing fragrance and flavor industry. By 2024, the global fragrances industry is expected to bring in around USD 59 billion in sales. This has led to an increase in demand for P-cresol, a naturally occurring substance that is a component in perfumes since it has a powerful flowery aroma.
Moreover, below 95 °F, p-Cresol is a crystalline solid that is employed in explosives, fumigants, disinfectants, photographic development, and the production of synthetic resins. The chemical substance para-Cresol, commonly known as 4-methylphenol, has the formula CH3C6H4(OH) and is a commonly utilized intermediary in the synthesis of other compounds.
Besides this, antioxidants are formulated using p-Cresol, such as butylated hydroxytoluene (BHT), which is used in goods such as transformer oils, rubber, cosmetics, medications, and metalworking fluids.
In addition, meta-Cresol, also known as 3-methylphenol, is a colorless to pale yellow liquid that is used as a disinfectant in antiseptics, hand washes, and prescription soaps. A meta cresol has a methyl substituent at position three that catalyzes the synthesis of other compounds, including insecticides, perfumes, antioxidants, and synthetic vitamin E.
Furthermore, the chemical compound ortho-Cresol has the formula CH3C6H4(OH) and is employed by enterprises that produce dyes. It has exceptional reactivity and solubility qualities, making it a highly versatile compound and an essential raw material in a wide range of production processes.
Application (Chemical Intermediates, Solvents, Preservatives, Antioxidants)
The chemical intermediates segment in the cresols market is set to garner a notable CAGR during the forecast period. The growth can be accredited to the rising production for furniture. As a result, the demand for plywood is growing since it is used to make furniture including office chairs, laptop tables, and tables. Global furniture manufacturing is estimated to be around USD 470 billion, of which more than USD 172 billion are exported and about USD 171 billion are referenced in trade imports.
The creation of cresol and its application as a chemical intermediate in the synthesis of synthetic resins, such as phenol-formaldehyde resins, result in superior wood adhesives for plywood and particleboard that are used to create high-pressure laminates, which are extensively employed in a variety of industries owing to their exceptional qualities like high strength, and durability.
Our in-depth analysis of the cresols market includes the following segments:
Product Type |
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Source |
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Application |
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APAC Market Forecast
Asia Pacific region in cresols market is expected to account for revenue share of around 45% by 2037. The market growth in the region is also expected on account of the growing export of chemicals. The region is one of the major exporters of chemicals worldwide with growing global competitiveness and has developed into a strategic pillar.
According to the OEC World, China became the world's top exporter of organic chemicals in 2022 with USD 110 billion worth of exports.
Besides this, the market for meta cresol is growing in Indian cities as the enterprises that manufacture chemicals and export them from the country are the primary producers of meta cresol in huge amounts.
Furthermore, there is a growing need for dietary supplements in Japan which is also known as the third-biggest market for dietary supplements in the world. For instance, in Japan, dietary supplements are being used more often; among healthy adults, the frequency is thought to be over 55%.
North American Market Statistics
The North America region will also encounter tremendous market revenue for the cresols market during the forecast period and will hold the second position owing to the growing usage of pesticides.
Pesticides are widely used in the United States agriculture to manage diseases, weeds, and insect infestation, fertilizers, which may create a huge demand for m-cresols are mainly used as a pesticide intermediate. For instance, each year, more than 1 billion pounds of pesticides are used in the United States (US), and around 5 billion pounds are used globally.
Additionally, the Canadian food packaging business is expanding rapidly, which is partly due to customers' growing inclination to buy packaged goods from convenience and retail outlets.
Several major players are present in the cresols market putting out several strategic initiatives to increase their share of the cresols market.
Author Credits: Radhika Pawar
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