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Resorcinol Market Segment And Industry Forecasts Till, 2014 - 2025

The resorcinol market is predicted to grow at CAGR of 3.3% in forecast period, providing numerous opportunities for market players to invest in research and development in the market. Resorcinol, termed as a 1,3-Benzenediol is a chemical adhesive, largely utilized for bonding purposes. Resorcinol is a by product of benzene. Crystallization of benzene results in formation of resorcinol. Resorcinol is highly soluble in ether, alcohol, and water. Some of the common applications of the resorcinol include dyestuff, personal care products, cosmetics, lightweight plastic, and rubber.

Rise of the automotive industry and building & construction sector in the Asia-Pacific region is predicted to fuel the growth of resorcinol industry over the forecast period. Resorcinol is widely adopted for bonding purposes, involving rubber and reinforcing cords. Resorcinol is also used for manufacturing of various rubber products such as belt, tire, and rubber-coated fabric, thereby, soaring demand in automotive industries, in the recent years.

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The rise in per capita income in developing economies across the globe has led to a rise in the demand for automotive vehicles. Significant investment by industry players in research & development of resorcinol coupled with introduction of innovative products in the market is anticipated to offer lucrative opportunities for industry players in the upcoming years.

Resorcinol acts as an intermediate for the production of light screening chemical, which is used for protection of plastics against ultra-violet rays. Resorcinol is also utilized for production numerous pharmaceutical products such as flame-retardants, fungicidal creams, ointments, and various agriculture chemicals.

Rubber is considered as one of the fastest growing segment in the resorcinol market with substantial revenue generation in the last couple of years. Growing popularity of the rubber market segment is attributed to the wide range of application portfolio of the chemical. Furthermore, introduction of environmental friendly products in compliance with governmental laws and regulation is expected to boost market growth in upcoming years.

Resorcinol is increasingly utilized for production of tires. Growing demand for resorcinol from automotive vehicle manufactures, bicycles, and aircraft manufactures are estimated to amplify market value for resorcinol in near future. Early adoption of adhesives enhances the rubber compound process stability. It also results in the increase of static as well as dynamic modulus of rubber. Use of resorcinol improves the overall steel cord adhesion property while not affecting vulcanization process of rubber; such factors are critical for augmenting consumer demand for resorcinol during the forecast period.

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