Ortho Cresol Market Size, Share, Growth, and Industry Analysis, By Type (Extraction Process and Synthesis Process), By Application (Resin, Herbicides, Disinfectant and Others), Regional Insights, and Forecast To 2032

Updated On: 29 April 2024

ortho cresol market REPORT OVERVIEW

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global ortho cresol market size was USD 174.9 million in 2020 and the market is projected to touch USD 324.44 million by 2032 at a CAGR of 5.2% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

Ortho-cresol, also known as 2-methylphenol, is a chemical compound with the molecular formula C7H8O. It is one of the three isomers of cresol, with the other two being meta-cresol and para-cresol. Ortho-cresol is a colorless to pale yellow crystalline solid at room temperature and has a distinct phenolic odor. Ortho-cresol can be produced through various methods, including the extraction of cresol isomers from coal tar or as a byproduct of the cumene process, which is used to produce phenol and acetone.

Ortho-cresol is used as a building block in the production of pharmaceuticals and agrochemicals, playing a role in the synthesis of certain drug compounds. It is employed in the fragrance industry to create specific scents and perfumes. It serves as a crucial intermediate in the synthesis of various chemicals, including antioxidants like butylated hydroxytoluene (BHT) and butylated hydroxyanisole (BHA). These antioxidants are added to products like food, cosmetics, and plastics to prevent them from undergoing oxidative degradation.

COVID-19 IMPACT: Disrupted Supply Chains resulted in Recession of the Market

COVID-19 had a life changing impact globally. The ortho cresol market was significantly affected. The virus had various impacts on different markets. Lockdowns were imposed in several nations. This erratic pandemic caused disruptions on all sorts of businesses. Restrictions tightened during the pandemic due to increasing number of cases. Numerous Industries were affected.

COVID-19 led to disruptions in global supply chains, affecting the production and distribution of chemicals, including ortho-cresol. Shutdowns of manufacturing facilities, restrictions on transportation, and labor shortages were among the challenges faced by the chemical industry. The pandemic prompted increased scrutiny of supply chains and regulatory considerations for critical chemicals. This focus on supply chain security and regulatory compliance may have lasting impacts on the ortho-cresol market.

Certain industries that use ortho-cresol, such as automotive manufacturing and construction, experienced a decline in demand due to lockdowns and economic uncertainty. This, in turn, impacted the demand for products containing ortho-cresol. The demand for products containing ortho-cresol, such as antioxidants used in food and cosmetics, experienced fluctuations during the pandemic. Changes in consumer behavior, including reduced consumption of certain non-essential goods, impacted the demand. The market is anticipated to boost the ortho cresol market share following the pandemic.

LATEST TRENDS

"Diversification of Applications to Broaden Market Growth"

Ortho cresol has found new relevance as an ingredient in biocides and disinfectants, especially in the wake of the COVID-19 pandemic. Its antimicrobial properties make it suitable for use in products like hand sanitizers and surface disinfectants. It can be incorporated into polymer formulations to improve their thermal stability and UV resistance. This application is particularly valuable in the production of plastics and rubber materials. Beyond traditional use in fragrances, ortho cresol is now utilized in the flavor industry to create specific tastes and aromas in food products and beverages. Its phenolic odor can contribute unique sensory experiences.

Ortho cresol is used in the production of epoxy resins, which have a wide range of applications in coatings, adhesives, and composites. Its inclusion can enhance the performance of epoxy-based products. It is used as a starting material for the synthesis of various specialty chemicals with unique properties, often tailored for specific industrial uses. Research has been conducted to explore the potential use of ortho cresol as a fuel additive to enhance combustion efficiency and reduce emissions in certain applications. These latest developments are anticipated to boost the ortho cresol market share.

ortho cresol market SEGMENTATION

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• By Type

Based on type, the market is divided into Extraction Process and Synthesis Process.

• By Application

Based on application, market is segmented into Resin, Herbicides, Disinfectant and Others.

DRIVING FACTORS

"Increased Antioxidant Demand to Boost Market Share"

 One of the primary drivers of the ortho-cresol market has been the increasing demand for antioxidants in various industries, including food and beverages, cosmetics, and plastics. Ortho-cresol is a key ingredient in the production of antioxidants like butylated hydroxytoluene (BHT) and butylated hydroxyanisole (BHA). These antioxidants are widely used in the food and beverage industry to extend product shelf life and in the cosmetic and pharmaceutical industries for their preservative properties.

"Diverse Application in Industries to Boost Market Size"

Ortho-cresol serves as an intermediate in the synthesis of pharmaceuticals. The growth of the pharmaceutical sector, driven by increasing healthcare needs and innovations in drug development, has boosted demand for ortho-cresol. The agrochemical industry uses ortho-cresol in the production of certain pesticides and herbicides. The demand for agricultural chemicals to support global food production has contributed to the growth of the ortho-cresol market. Ortho-cresol finds use in various industrial processes, including the manufacturing of fragrances, dyes, and other chemical compounds. As industries continue to grow and innovate, the demand for ortho-cresol in these applications may increase. These factors are anticipated to drive the ortho cresol market share.

RESTRAINING FACTORS

"Alternative Antioxidants to Hamper Market Share"

Changes in consumer preferences, such as a shift towards natural and organic products, can impact the demand for synthetic antioxidants like those derived from ortho-cresol. The development of alternative antioxidants that may be more cost-effective or have better performance characteristics could pose a challenge to the ortho-cresol market. Manufacturers and industries may explore substitutes for ortho-cresol-based antioxidants. The factors are anticipated to hinder the ortho cresol market growth.

ortho cresol market REGIONAL INSIGHTS

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"Asia Pacific Holds the Major Share of the Global Market"

Asia Pacific, especially China had a significant production capacity for ortho-cresol and its derivatives. The country's chemical industry had undergone rapid expansion, with many manufacturing facilities dedicated to the production of ortho-cresol. China's robust industrial sectors, including the pharmaceutical, agrochemical, and chemical industries, created substantial demand for ortho-cresol and its applications. The growth of these industries in China supported its market share. It was also a major exporter of ortho-cresol and its derivatives, supplying these products to various regions globally. This export capability further solidified its position as a major shareholder in the market.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List of Market Players Profiled

• Sasol [South Africa]
• Atul [India]
• LANXESS [Germany]
• SABIC [Saudi Arabia]
• RÜTGERS Group [Germany]
• Deepak Novochem Technologies [India]
• Nantong Xingchen Synthetic [China]
• JFE Chemical [Japan]
• Nippon Steel & Sumikin Chemical  [Japan]
• Juye Runjia Chemical [China]
• Nanjing Datang Chemical [China]
• Chengjiang Pharmaceutical Science and Technology [China]
• Yueyang Xingchang [China]

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.