According to IMARC Group's latest research report, titled "Resorcinol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", offers a comprehensive analysis of the industry, which comprises insights into the resorcinol market. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global resorcinol market size reached US$ 462.2 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 538.7 Million by 2027, exhibiting a growth rate (CAGR) of 2.51% during 2022-2027.
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Resorcinol Market Outlook:
Resorcinol, or resorcin, represents a crystalline solid that is white in color and soluble in ether, alcohol, and water. It has a slightly bitter-sweet taste and is produced by melting resins, such as galbanum and asafetida, with potassium hydroxide (KOH) or by the distillation of brazilwood extract. Resorcinol enhances the adhesive strength of rubber and wood products and is used in the manufacturing of dyes, UV stabilizers, fire retardants, explosives, herbicides, etc. As a result, this organic compound finds extensive applications in various sectors, including chemical, automotive, rubber, construction, etc.
The increasing usage of wood in the construction of residential and commercial complexes across the globe and the expanding automotive industry are among the primary factors driving the resorcinol market. Besides this, the escalating demand for resorcin to manufacture light screening agents to protect plastic derivatives against ultraviolet (UV) rays, owing to its high cost-effectiveness, chemical stability, and resistance to solvents, salt water, acids, oil, etc., is further augmenting the market growth. Moreover, the growing popularity of resorcinol as a binding medium for several rubber-based products, including belts, tires, and rubber-coated fabrics in vehicles, is also catalyzing the global market. Apart from this, the inflating need for this compound in the production of non-halogenated flame-retardants and numerous agricultural chemicals is acting as another significant growth-inducing factor. Furthermore, the rising prevalence of skin-related ailments is bolstering the use of this solid as an antiseptic and disinfectant for treating acne, psoriasis, eczema, calluses, warts, etc., which is anticipated to propel the resorcinol market over the forecasted period.
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