Rising Demand for m-Cresol is a Major Trend in the Global Cresol Market| Technavio

LONDON–(BUSINESS WIRE)–#Research–Technavio’s latest market research report on the global
cresol market provides an analysis of the most important trends
expected to impact the market outlook from 2018-2022. Technavio
defines an emerging trend as a factor that has the potential to
significantly impact the market and contribute to its growth or decline.

According to Technavio market research analysts, the global cresol
market will grow at a CAGR of over 4% during the forecast period.
The growing end-use applications is a major factor driving the market’s
growth.

The rising demand from applications such as agrochemicals, rubber
manufacturing, cosmetics, pharmaceuticals, electronics, antioxidants,
pesticides, dyes, and specialty resins is driving the global
cresol market growth. The increasing demand for cresol can be
attributed to the rise in R&D of niche applications. Its derivatives
have gained significant importance in the production of vitamin E and to
encapsulate electronic products. The demand for cresol in the
electronics industry is expected to increase further due to the high
demand for tablets, smartphones, computers, and display screens.

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In this report, Technavio highlights the rising demand for m-cresol as
one of the key emerging trends driving the global market:

Rising demand for m-cresol

M-cresol is gaining popularity in the market due to the growing
significance and the number of applications of m-cresol in various
end-use industries. It is extensively being used in the food and
beverage, pharmaceuticals, and agrochemicals segments. It is widely used
as a bactericide in the processing of pharmaceuticals, pesticides, and
other disinfectants, owing to its antimicrobial properties. In
pharmaceuticals, it is also being used as a preservative. M-cresol is
used as a pesticide for the treatment of the stems of fruit trees and
plants, in agrochemicals.

“M-cresol and p-cresol are coupled to produce antioxidants such as
BHT and arylphosphates. They are used as plasticizers, flame retardants,
and catalysts. Another significant usage of m-cresol is its use in the
production of synthetic vitamin E and fragrances and flavoring agents
for food products, preservatives, and other chemicals. Certain
application areas such as lubricating oils, solvents, paints, fire and
wood preservatives, and dyes and pigments are witnessing an increase in
consumption of m-cresol,” says a senior analyst at Technavio for
research on specialty
chemicals.

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Global cresol market segmentation

This market research report segments the global cresol market into the
following products (p-cresol, m-cresol, and o-cresol) and key regions
(the Americas, APAC, and EMEA).

The p-cresol segment held the largest market share in 2017, accounting
for nearly 40% of the market. The market share for this product is
expected to increase by 2022. The fastest growing product is m-cresol,
which will account for nearly 34% of the total market share by 2022.

APAC was the leading region for the global
cresol market in 2017, accounting for a market share of nearly
44%. By 2022, APAC is expected to witness a decline in its market share,
whereas the Americas will see the highest growth among the three regions.

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