Resorcinol of Meta-DIPB (1,3 – Diisopropylbenzene) Market - Forecast(2024 - 2030)

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 used to produce resorcinol formaldehyde (RF) resin to improve the adhesion of rubber and other materials in rubber products, wood adhesives, flame retardants, UV stabilizers, dyes, and others. The global COVID-19 pandemic has caused manufacturing activities around the globe to abruptly pause, impacting the market for rubber as well as their development and processing. The most critically affected end-use segments of the plastics industry include automotive & transportation, consumer goods, industrial machinery, manufacturing, and electronics.

The report: “Resorcinol of Meta-DIPB (1,3 – Diisopropylbenzene) Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Resorcinol of Meta-DIPB (1,3 – Diisopropylbenzene) Market. 

By Form – Powder, Pellets and Crystal, and Liquid. 

By Application – Printing Inks, Plastics, Coatings, Solvents, Personal Care Ingredients, Resins, Rubber, and Others.

By Region – North America, South America, Europe, APAC, and RoW.

Rubber includes the highest share and dominates the overall Resorcinol of Meta-DIPB (1,3 – Diisopropylbenzene) market. The growing demand for manufacturing tyres from the automotive industry makes the positive scenario is majorly boosted by the growth momentum of replacement tires market. In addition, the demand of Resorcinol of Meta-DIPB (1,3 – Diisopropylbenzene) for the production of personal care ingredients is expected to witness higher growth in upcoming years.

Asia-Pacific dominated the global market owing to the robust demand from developing nations including China and India. The region being a manufacturing hub for automotive is of the propelling factor for the resorcinol of Meta-DIPB (1,3 – Diisopropylbenzene) market growth in the region. 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, where Sumitomo Chemicals includes about 32,000 Mt/y. Being the highest producers of resorcinol of Meta-DIPB (1,3 – Diisopropylbenzene), APAC consists the highest share across the globe.

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.

Resorcinol is harmful if swallowed, inhaled or absorbed through skin and causes eye and skin irritation. The compound is irritating to mucous membranes and upper respiratory tract. Depending on the intensity and duration of exposure, effects may vary from mild irritation to severe burns. Resorcinol is regarded as goitrogenic, causing hypo-thyroidism following persistent exposure, e.g. through intake of drinking water polluted with resorcinol from coal gasification and shale oil production, or through use as topical ointment on skin lesions. In addition, resorcinol also includes high cost. Currently, according to Trademap, the price of resorcinol has been increased at rapid pace resorcinol. The main factor impacting the price is the shutdown of resorcinol production plants in major region. Manufacturer such as Indspec Chemical, the only producer in U.S, had shut down its production in July 2017, the low outcome from the plant in order to compete in the market place oversupply and low-efficient manufacturing process, was the major factor behind the cause.

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Resorcinol of Meta-DIPB (1,3 – Diisopropylbenzene) market. In 2019, the market of Resorcinol of Meta-DIPB (1,3 – Diisopropylbenzene) has been consolidated by the top five players accounting for xx% of the share. Major players in the Resorcinol of Meta-DIPB (1,3 – Diisopropylbenzene) Market are Amino-Chem, Sumitomo Chemicals, Elementis PLC, Indspec Chemical Corp., Atul Limited, Alfa Aesar, and Kraeber & Co Gmbh among others.