The global cresol market size was USD 499.8 Million in 2022 and is expected to reach USD 734.5 Million by 2032, and register a rapid revenue CAGR of 4.2% during the forecast period. Increasing need for chemicals in various industries, including medicines, resins, and Flavors-and-fragrances-market">Flavors and Fragrances,  and rising use of cresol for production of resins, Solvents, and Insecticides among other downstream products are major factors driving market revenue growth. Cresol, also known as hydroxytoluene, is a group of aromatic organic compounds, which are widely-occurring phenols and may be either natural or manufactured. Cresol is a methyl phenol with para meta and ortho isomers, which is used as a disinfectant and antiseptic and have the best Antioxidant properties..

In addition, rising demand for cresol in the pharmaceutical business is another factor driving revenue growth of the market. Salicylic Acid, which is used to make aspirin, is one of the medicinal chemicals that can be made using cresol as a precursor. Manufacturing of additional medications, such as anesthetics, antiseptics, and disinfectants, using cresol derivatives is rising need of cresol.

Growing concerns about the food shortage can be attributed to the lack of synergy between agricultural production and the growing demand for food in various regions of the Asia Pacific and Europe. The ability of ortho and meta isomer derivatives to improve pesticide performance is expected to stimulate demand for products as long-term plant growth regulators.

The COVID-19 impact:
Lower consumer demand for lifestyle and wellness products due to social restrictions and lock-in policies will negatively impact demand patterns for cosmetic ingredients and specific categories of food additives. However, the easing of restrictions and public discourse on the revival of economic activities in the consumer goods market indicate that the recovery of demand is imminent.

Also, supply chain disruptions and production shutdowns have resulted in a downgraded outlook for the Agrochemicals & Pesticides segment, which is a significant market for Cresol application, which will have short-term impacts on market sales that could have lasting effects. While the industry expects things to return to near normal state well before the end of 2020, negative demand shock caused by the crisis is likely to last.

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Further key findings from the report suggest

• Cresols are mainly used in chemical intermediates in the production of vitamin E. The increase in the consumption of vitamin E and its wide range of applications, from human nutritional supplements, from animal feed additives to antioxidants to polymers, will stimulate industry growth. Due to the chemical properties of its derivatives used as reagents for vitamin E, perfumes, dyes, and the pharmaceutical sector. The application of m-cresol is increasing in the pharmaceutical, food and beverage and agrochemical sectors due to its antimicrobial properties.
• Para-cresol held the largest share of the cresol market in 2018. It is commonly used in the production of butylated hydroxytoluene, an antioxidant used in the cosmetic, food, and pharmaceutical industries. Meta-cresol acts for the synthesis of resol as a chemical intermediate used in brake and clutch linings. The antimicrobial function of Meta-cresol has grown significantly in the applications of antiseptics and disinfectants.
• North America and Europe are estimated to have a significant market share in the global cresol market due to the early adoption of technology and innovations. Besides, the presence of the leading market players is based in this region. Also, Europe, especially Western Europe, is the primary consumer of ortho-cresol as a chemical intermediary. These are mainly used for the formulation of products, including adhesives, disinfectants, and cleaning products.
• Asia-Pacific region will experience a high market growth rate over the forecast period because of the presence of a vast population for the consumption of agricultural food products, particularly in China and India. As a result, the use of cresols in pesticides and other agrochemicals has exploded market demand over the forecast period. Besides, with a large population base suffering from diseases like diabetes, the use of cresols in pharmaceutical formulations is expected to increase during the forecast period.
• Key participants include Anhui Haihua Chemical Technology Co., Ltd., Dakota Gasification Company, Lanxess AG, Konan Chemical Manufacturing Co. Ltd., Ardison Oils & Electricals(P) Ltd, Mitsui Chemicals Inc., SABIC, RüTGERS Group, Nanjing Long Yan Chemical Co. Ltd., Merisol Group of Companies, among others.

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For the purpose of this report, Reports and Data have segmented into the global Cresol market on the basis of Type, Source, Application, and Region:

Type Outlook (Revenue, USD Million; 2017-2032)

• meta-Cresol
• para-Cresol
• ortho-Cresol

Source Outlook (Revenue, USD Million; 2017-2032)

• Natural
• Synthetic

Application Outlook (Revenue, USD Million; 2017-2032)

• Agrochemicals & Pesticides
• Antioxidants
• Fragrance
• Specialty Resins
• Dyes
• Vitamin E
• Butylated Hydroxytoluene (BHT)

Regional Outlook (Revenue, USD Million; 2017-2032)

• North America
• U.S
• Europe
• U.K
• France
• Asia Pacific
• China
• India
• Japan
• MEA
• Latin America
• Brazil

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