Ortho Cresol Market Introduction
Ortho cresol is an organic chemical that is widely used as an intermediate or precursor in the production of other chemicals. Due to the unique reactivity and solvency properties offered by ortho cresol, it is widely used as an intermediate in the manufacturing of other chemical compounds by the chemical, pharmaceutical, plastic, agrochemical and other end-use industries. Moreover, it is majorly used in the production of agrochemicals such as herbicides, fungicides and weedicides.
Besides agrochemicals, a large number of other products, such as resins, plastics, dyestuffs, pigments, flavour & fragrances, leather, paper and various others, are using ortho cresol as an intermediate chemical compound for production. For such a broad spectrum of applications, the ortho cresol market is experiencing an increase in annual sales and continuous demand from end-use industries. More importantly, ortho cresol is known for its ‘readily biodegradable’ quality, which increases its preference by end-user industries that manufacture eco-friendly and biodegradable products by using biodegradable ingredients such as ortho cresol.
Ortho Cresol Market Dynamics
Ortho Cresol Market Drivers
The ortho cresol market is predominantly growing due to its ability to degrade biologically and for being ecologically safer as ortho cresol has less bio- or geo-accumulation potential. Therefore, with the rising global demand for environmentally safer chemicals and products, manufacturers are focusing on sustainable development by manufacturing with the help of chemicals that are safer for use, which include ortho cresol. Consequently, the demand for ortho cresol has increased and, as a result, the global market for ortho cresol is growing in terms of sales and consumption.
Besides being driven by its biodegradability, the ortho cresol market is rapidly growing because of the various types of applications it offers. Increasing population has resulted in rapid growth in agriculture, which is driving the demand for herbicides and fungicides. Ortho cresol is used as a key intermediate in the production of fungicides, herbicides and in various other agricultural applications. This application is acting as a major driver of the ortho cresol market.
Ortho Cresol Market Restraints
Ortho cresols are poisonous to fishes and aquatic species. Therefore, the flowing off of ortho cresol-based agrochemicals from ground to water bodies can be harmful for water ecosystems. This is one of the factors hampering the growth of the ortho cresol market as organic and sustainable agronomists restrain from buying such ortho cresol-based agrochemicals.
Ortho Cresol Market Trends
Ortho cresol has been predominantly used by the agrochemical end-use industry. However, ortho cresol cannot be used in the production of end-use consumer products as it is poisonous. However, there has been an increase in the applications of ortho cresol in other industries such as paper, textile, home care and others.
Ortho Cresol Market Segmentation
The global ortho cresol market can be segmented on the basis of end-use industry and on the basis of the applications that it offers.
On the basis of end-use industry, the global ortho cresol market can be segmented as:
On the basis of applications, the global ortho cresol market can be segmented as:
Ortho Cresol Market: Regional Outlook
The growing population in the Asia Pacific region is expected to result in growth in the per-capita consumption of ortho cresol. On the other hand, a shift in the patterns of agricultural production from conventional to organic in the North American and European regions has limited the usage of ortho cresol-based agrochemicals. However, the expansion of applications of ortho cresol in other industries is expected to boost the global demand for ortho cresol.
Ortho Cresol Market Participants
Some of the market participants identified across the value chain of the global ortho cresol market are:
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