The growing usage in various applications such as rubber, wood adhesives, and UV stabilizers tends to increase the market during the forecast period. Resorcinol of Meta-DIPB (1,3 – Diisopropylbenzene) Market is forecast to reach $362.14 Million by 2025, after growing at a CAGR of 3.2% during 2020-2025.
Resorcinol is a white crystalline compound with a bittersweet taste and a weak odour. Resorcinol is commonly recognized as a versatile chemical compound used to build inventions for the benefit of human life. It is the essential component of an adhesive system used in the tire manufacturing process and other fiber-reinforced rubber mechanical goods.
Resorcinol is also used for high-quality wood bonding applications in manufacturing fluorescent and leather dyes and adhesives formulated from resorcinol–formaldehyde resins or phenol-modified resorcinol–formaldehyde resins. Resorcinol is an important chemical intermediate in specialty chemicals manufacturing such as light screening agents used to protect plastics from exposure to ultraviolet light, and also used in resins as an UV absorber.
Resorcinol of Meta-DIPB (1,3 - Diisopropylbenzene), is basically produced from hydroperoxidation process. Currently, there are two major resorcinol producers in the world, Amino-Chem from China and Sumitomo Chemical Company from Japan, the Amino-Chem itself includes the highest production capacity of about 40,000 Mt/y. Sumitomo Chemical Company produce resorcinol using the hydroperoxidation process. The hydroperoxidation process is majorly preferable as it covers highest share in terms of production process. This is due to its high economical and efficient way of producing resorcinol.
APAC has dominated the global Resorcinol Meta-DIPB (1,3 - Diisopropylbenzene) market. The rapid industrialization in India and China and the positive growth of the region's automotive sector have contributed positively to the overall growth in demand. In order to encourage and revitalize the construction industry in the region, the governments of different countries have taken initiatives in the region. It is predicted that such developments would have a positive impact on market growth in the region.
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APAC Antiblock Additive Market Growth Drivers:
Growing demand in rubber industry
Rubber products dominated the application segment, and it is expected to continue its dominance over the forecast period. Resorcinol is widely used for tire manufacturing for a variety of applications such as automotive tires, bicycles, and aircraft. The usage of chemical improves the overall rubber compound processability. It also results in the increase of static as well as dynamic modulus of rubber. Also, it does not have any effect on the overall vulcanization process of rubber and enhances the steel cord adhesion. Such inherent advantages are expected to benefit the segment demand growth over the upcoming years. Also, United States represents one of the largest and the most advanced tire market in the world by providing home to some of the largest tire manufacturers in the world, such as Goodyear Tire & Rubber Co., Cooper Tire & Rubber Co., Michelin and Bridgestone Americas Tire Operations (over 70% of the market share is reported with these four companies). Such factors in turn are estimated to boost the demand for the resorcinol market during the forecast period.
The Major Players in this Market Include:
Major players in the APAC Antiblock Additive Market are Amino-Chem, Sumitomo Chemicals, Elementis PLC, Indspec Chemical Corp., Atul Limited, Alfa Aesar, and Kraeber & Co Gmbh, among others.
The rapid spread of COVID-19 has had a major impact on global markets as, major economies of the world are completely lockdown due to this pandemic. Owning to this, the manufacturing plants across the globe have been shut down and the production level of the consuming product have been drastically, this tends to reduce the demand of the resorcinol.
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