Phenol (C6H5OH) is an organic aromatic compound, colorless crystalline solid and toxic, commonly used as an antiseptic and disinfectant, and has better solubility in water due to hydrogen bonding when compared to other hydrocarbons having similar molecular weight. According to BlueQuark Research & Consulting, the global Phenol market is expected to witness a significant growth rate during the forecasted period. Factors like the increasing demand for Bisphenol A (BPA) find vast applications in producing epoxy resins and polycarbonate, which are used for manufacturing medical devices, food and beverage containers, electronic equipment, household appliances, and automotive parts, which are expected to drive the demand of global phenol market in the forecasted periods. Further, increasing demand from the emerging packaging and construction industry has led to increasing demand for infrastructure facilities and consumer goods, significant factors responsible for the growth of the global Phenol market in the forecasted period. Furthermore, surging emphasis on the use of sustainable energy instead of rising crude oil prices is increasing the demand for epoxy resins used for wind turbine power generators, which is expected to further drive this market's growth. However, Phenol is a corrosive compound. It causes serious burns if exposed to skin and eyes, which is expected to disrupt the development of the Phenol market in the forecasted period.

Phenol is widely deployed in several applications such as paints & coatings, medical, cool refineries, electrical equipment, resin paint, dyeing, and textile wood. It is majorly worn for manufacturing household products such as detergents, as an intermediate for synthesizing various chemical compounds, and as a derivative in producing nylon, herbicides, epoxies, and cosmetics. Phenol is also used in fungicides and disinfectants in farming and animal husbandry industries.

Bisphenol-A is projected to be the prime derivative in the phenol derivatives market. Additionally, it is utilized for unsaturated polyester, polysulfone, and polyetherimide. Growing demand for polycarbonate and epoxy resins in various end-user industries, like paints and coatings, adhesives, packaging, electrical and electronics, and other end-user industries, is one of the major factors responsible for the growth of the Bisphenol-A (BPA) market, thereby, for the development of phenol market. Epoxy resins are created by mixing Bisphenol-A (BPA) and epichlorohydrin (ECH). Due to their versatility, high resistance to chemicals, durability, toughness, high electrical resistance, adhesion, strong durability at both low and high degrees, and ease they provide while pouring on cast without forming any epoxy resins, bubbles are becoming an integral part of several commercial and industrial sectors. Bisphenol-A is majorly used in the manufacture of polycarbonates and epoxy resins. One of the significant applications of epoxy resins is in the paints and coatings industry. Epoxy paints and coatings include anti-corrosive primers, fire-resistant coatings, primer tie coats, and heat-resistant coatings. They are commonly worn for construction (including flooring), shipbuilding, water, sewage treatments, and home appliances. Polycarbonate is mainly used in food and drink packaging such as water & baby bottles, compact discs, and medical devices. Epoxy resins coat metal products like food cans, bottles, and water supply pipes. Further, the growth in end-use industries using polycarbonate and epoxy resin resins will fuel the development of the phenol derivatives market.

The Asia Pacific region is currently the primary region in this market owing to the robust and growing demand for Phenol, especially in China. It is the largest consumer and producer of Phenol. North America and Europe have stagnant growth in this market during the forecast period due to strict regulations by the government. The leading phenol manufacturers focus on increasing the production and distribution of Phenol across several regions due to the high demand for Phenol from various end-user industries. Phenol observes applications as an industrial cleaner for electronic devices and machinery parts, as a starting material for plastics and explosives like picric acid, as a raw material in the manufacturing of drugs and antioxidants, as an essential material in wood preservatives like creosote, for making intense colored dyes, and in daily products such as mouthwash, inks, floor cleaners, liquid detergents, and disinfectants. Rapid economic development worldwide has contributed to construction activities in the residential and commercial domains. Since phenolic resins are worn in plywood, laminated beams, and flooring panels, this has improved the market growth. Phenolic resins find applications in thermosetting plastics, which are further utilized in producing electrical components such as insulators, electron tubes, and sockets. Paper phenolics are being used for manufacturing household laminates and paper composite panels, and glass phenolics are utilized in the high-speed bearing market. Phenol is also in demand in sectors like farming and animal husbandry, where it is used in fungicides and disinfectants. Through its downstream uses, Phenol also finds applications in the automobile and construction sectors. The commercial viability, a surge in construction activities accelerating the consumption of Phenol in the manufacturing of laminated beams and plywood, flooring panels, and growing demand for epoxy resins for turbine power generation are critical drivers for the phenol market. Additionally, proceeding research and development activities associated with phenol manufacturing have brought down the processing cost and improved the yield and quality of products, impacting the market growth. 

The global Phenol market is highly fragmented. The major players in the worldwide Phenol market are INEOS Phenol, Solvay S.A., Mitsui Chemicals, CEPSA Química, and Shell plc. Among all these companies, INEOS Phenol provides as the world's biggest producer of Phenol.

In July 2019, INEOS Phenol announced that it is assembling a world-scale cumene unit in Marl, Germany, and it is expected to be completed by 2021. This new cumene plant, has a capacity of 750,000 tonnes. It will support future customer demand for Phenol and acetone by improving raw material supply to the INEOS phenol and acetone plants. With the increase in production capacity for cumene, the company will aid other phenol producers and fulfill the global cumene demand, further assisting the global phenol market.

Global Phenol Market report provides deep insight into the current and future state of the Phenol market across various regions. The study comprehensively analyzes the Phenol market by segmenting based on the manufacturing process (Cumene process, Dow process & Ranching Hooker process), application (Alkyl Phenyls, Bisphenol- A, Caprolactam, Phenolic Resins, Phenol formaldehyde resin, and other applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report examines the market drivers and restraints and the impact of Covid-19 on market growth. The study covers & includes emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with profiles of prominent companies, including their market shares and projects.