London, 20 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the global resorcinol market 2015-2019, which is expected to grow at a CAGR of 6.81% during the forecast period of 2014-2019.
Increasing applicability of resorcinol in rubber and tire products coupled with increasing demand from the construction and the automotive sector aid in fostering growth in this market. Developing regions like China, Brazil, and India are rapidly expanding their public infrastructure and are planning a massive capital outlay during the forecast period. This will in turn aid in increasing the demand for resorcinol from the construction sector.
“Manufacturers are opting for eco-friendly products in the construction, pharmaceutical, and automotive applications. This in turn is resulting in the increased adoption of bio-adhesives. Stringent regulations and increased consumer awareness of the adverse effects of using synthetic materials in surgical applications are propelling the demand for bio-adhesives,” says Faisal Ghaus, Vice President of Technavio.
“The healthcare sector in Europe is expected to play an important role in promoting the use of bio-adhesives and their constituents such as resorcinol, gelatin, and shellac. These bio-adhesives are widely used in the manufacture of surgical, hemostatic, and wound healing agents.”
Key Market Drivers:
- Increased Use in Value Added Paint Products.
- Increase in Production Capacities and Better Availability.
- Sustainability of Product.
Key Market Trends:
- Increased Use in Cosmetics and Pharmaceutical Applications.
- Downstream Integration by the Manufacturers.
- Increased Demand for Bio-adhesives.
Key Market Vendors:
- Akro Chem
- Alfa Aesar
- Atul Ltd.
- INDSPEC Chemical Corp.
- Mitsui Chemicals Inc.
- Sumitomo Chemical Co. Ltd.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
