Para-tert-Octylphenol Market Size

Para-tert-Octylphenol (POTP) Market size is projected to reach USD 7 billion by the end of 2036, expanding around 4% CAGR during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of para-tert-octyphenol was close to USD 3 billion. The growth of the market is projected to rise on account of surging production of octyl-phenol-formaldehyde resins which is further employed in paints and coatings. Therefore, production of octyl-phenol formaldehyde is also projected to grow on account of growing construction activities. According to projections, there were 794,431 built-up areas (BUAs) worldwide in 2016. This number has been projected to increase to about 849,406 residents by 2022. Furthermore, 2 million additional buildings are anticipated to be built by 2050. Hence, owing to this the market is also set to expand.

Additionally, the construction of roads is also surging all across the world in order to make traveling convenient. For this, the constructor is making extensive use of tackifier resins. Hence, the market for para-tret-octylphenol is also projected to rise since it plays a prominent role in tackifiers resins. Moreover, the growing investment by the government in infrastructure development for the development of the economy and enhancing the quality of life of the people is pushing the construction of roads. Hence, this is also estimated to boost the market expansion.