Global Resorcinol Market 2017-2021: Top Drivers and Forecasts by Technavio

June 3, 2017

#Research--Technavio market research analysts forecast the global resorcinol market to grow at a CAGR of more than 3% during the forecast period, according to their latest report.

The market study covers the present scenario and growth prospects of the global resorcinol market for 2017-2021. The report also lists tire and rubber manufacturing, UV products and dyes, wood adhesives and binders, and flame retardants as the four major application segments, of which tire and rubber manufacturing accounted for more than 48% of the market share in 2016.

“The growth of the resorcinol market can be attributed to the significant growth in end-user industries. Automotive, construction, electronic and electrical component manufacturers, skin care, and pharmaceutical industries are the major consumers of resorcinol,” says Kshama Upadhyay, a lead analyst at Technavio for specialty chemicals research.

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.

Technavio analysts highlight the following three market drivers that are contributing to the growth of the global resorcinol market:
- Increased use of value-added paints, coatings, and dye products
- Increasing applications of wood-bonding adhesives
- Growing demand from automotive industry
Increased use of value-added paints, coatings, and dye products

Growing preference for value-added paints, coatings, and dye products has increased the demand for resorcinol. A wide range of these products are used in various applications due to properties, such as UV resistance and flame resistance. Resorcinol is mainly used in the manufacture of these products.

The use of these value-added paints and coatings in outdoor applications has increased as they protect against UV rays and retain the durability and aesthetics of the structures that are coated with these products. These coatings are also used on the exterior of automobiles, which are exposed to sunlight. Increasing concerns regarding safety and lifespan of products have triggered the demand for these value-added products.

Increasing applications of wood-bonding adhesives

The increasing application of wood-bonding adhesives, especially in boat building and construction industries, is driving the market growth. Resorcinol-based wood adhesives are widely used due to their strength, durability, cost advantage, and the ability to withstand a wide range of temperatures. The increase in the disposable income of individuals is increasing the expenditure on homes and premium furnishings, thereby increasing the consumption of wood adhesives and binders used in cabinets, flooring and plywood, furniture and subcomponents, doors, window panes, decorative products, and other related products.

“The increase in the construction of residential and non-residential buildings in emerging economies is projected to boost the use of resorcinol in these regions during the forecast period,” says Kshama.

Growing demand from automotive industry

The global automotive industry is growing steadily, thereby increasing the demand for tires and consequently driving the consumption of resorcinol for manufacturing tires. Tire manufacturers are focusing on enhancing the efficiency and performance of tires due to stringent fuel consumption norms. The use of resorcinol during the tire manufacturing process will increase the adhesion of compounds used in tire and improve its performance. Therefore, the growth in the automotive industry will drive the market for resorcinol during the forecast period.

Browse Related Reports:
Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they’re published in addition to all 6,000+ existing reports covering segments like olefins, glass and ceramics, and industrial gases. This subscription nets you thousands in savings, while staying connected to Technavio’s constant transforming research library, helping you make informed business decisions more efficiently.

About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at [email protected].

Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

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LONDON–(BUSINESS WIRE)–#Research—Technavio
market research analysts forecast the global
resorcinol market to grow at a CAGR of more than 3%
during the forecast period, according to their latest report.

The market study covers the present scenario and growth prospects of the global
resorcinol market for 2017-2021. The report also lists tire
and rubber manufacturing, UV products and dyes, wood adhesives and
binders, and flame retardants as the four major application
segments, of which tire and rubber manufacturing accounted for more than
48% of the market share in 2016.

“The growth of the resorcinol market can be attributed to the
significant growth in end-user industries. Automotive, construction,
electronic and electrical component manufacturers, skin care, and
pharmaceutical industries are the major consumers of resorcinol,”
says Kshama Upadhyay, a lead analyst at Technavio for specialty
chemicals research.

This report is available at a USD 1,000 discount for a limited time
only: View
market snapshot before purchasing

Buy 1 Technavio report and get the second for 50% off. Buy 2
Technavio reports and get the third for free.

Technavio analysts highlight the following three market drivers that are
contributing to the growth of the global resorcinol market:

Increased use of value-added paints, coatings, and dye products
Increasing applications of wood-bonding adhesives
Growing demand from automotive industry

Increased use of value-added paints, coatings, and dye products

Growing preference for value-added paints, coatings, and dye products
has increased the demand for resorcinol. A wide range of these products
are used in various applications due to properties, such as UV
resistance and flame resistance. Resorcinol is mainly used in the
manufacture of these products.

The use of these value-added paints and coatings in outdoor applications
has increased as they protect against UV rays and retain the durability
and aesthetics of the structures that are coated with these products.
These coatings are also used on the exterior of automobiles, which are
exposed to sunlight. Increasing concerns regarding safety and lifespan
of products have triggered the demand for these value-added products.

Increasing applications of wood-bonding adhesives

The increasing application of wood-bonding adhesives, especially in boat
building and construction industries, is driving the market growth.
Resorcinol-based wood adhesives are widely used due to their strength,
durability, cost advantage, and the ability to withstand a wide range of
temperatures. The increase in the disposable income of individuals is
increasing the expenditure on homes and premium furnishings, thereby
increasing the consumption of wood adhesives and binders used in
cabinets, flooring and plywood, furniture and subcomponents, doors,
window panes, decorative products, and other related products.

“The increase in the construction of residential and non-residential
buildings in emerging economies is projected to boost the use of
resorcinol in these regions during the forecast period,” says Kshama.

Growing demand from automotive industry

The global automotive industry is growing steadily, thereby increasing
the demand for tires and consequently driving the consumption of
resorcinol for manufacturing tires. Tire manufacturers are focusing on
enhancing the efficiency and performance of tires due to stringent fuel
consumption norms. The use of resorcinol during the tire manufacturing
process will increase the adhesion of compounds used in tire and improve
its performance. Therefore, the growth in the automotive industry will
drive the market for resorcinol during the forecast period.

Browse Related Reports:

Become a Technavio
Insights member and access all three of these reports for a
fraction of their original cost. As a Technavio Insights member, you
will have immediate access to new reports as they’re published in
addition to all 6,000+ existing reports covering segments like olefins,
glass
and ceramics, and industrial
gases. This subscription nets you thousands in savings, while
staying connected to Technavio’s constant transforming research library,
helping you make informed business decisions more efficiently.

About Technavio

Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.

If you are interested in more information, please contact our media team
at [email protected].

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US:
+1 630 333 9501
UK: +44 208 123 1770
www.technavio.com