Europe Phenol Market Report and Forecast 2024-2032

Europe Phenol Market Outlook

The Europe phenol market reached a volume of around USD 4.71 billion in 2023. It is expected to grow at a CAGR of 3.9% between the forecast period of 2024-2032 to reach a volume of nearly USD 6.64 billion by 2032.

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Growing Consumption of Phenol in Europe to Support the Growth of the Phenol Market in the Region

Europe is one of the leading phenol markets in terms of consumption, along with the Asia Pacific region. The phenol market in Europe accounts for over a quarter of the global phenol market.

The European Union relies heavily on imports from the United States to meet the regional demand for phenol. The production cost in the European Union is higher due to having fewer producers present in the region. The region imports from the United States to meet about 10% of the phenol demand. Within the European Union, the leading importers are Germany and Netherlands. The import demand from the region is constantly on a rise and is likely to witness a further growth.

The European Union also plays a vital role as a major sourcing destination for the Middle Eastern countries like Saudi Arabia. Europe is also a major sourcing region for Asian countries like China. However, the region witnesses a surplus demand for BPA, due to which it is compelled to import from the United States despite being a major sourcing region for other nations.

Phenol: Market Segmentation

Phenol is a corrosive crystalline acid compound with the formula C6H5OH. It is found in the tars of coal and wood and is used as a disinfectant in dilute solution. Phenol derivatives find wide applications in the home and personal care industries for the preparation of cosmetics such as hair colourings, sunscreens, as well as skin lightening products.

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The product finds its end use in the following:

• Bisphenol A 
• Phenolic Resins
• Caprolactam
• Alkyl Phenyls
• Others

The regional markets for phenol in Europe include Germany, the United Kingdom, France, and Italy, among others.

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Rising Healthcare and Pharmaceutical Industries to Bolster the Market Growth of Phenol in Europe

The phenol market in Europe is significantly being driven by the growing pharmaceuticals industry. The demand for pharmaceuticals is rapidly increasing owing to the rising healthcare sector and the advancing technologies. The rising demand for alkyl phenyl is also driving the phenol market growth in Europe. Phenol also finds wide applications as precursors to products like detergents, components of phenolic resins, additives in fuels and lubricants, and polymers. The growing downstream industries like tyres, adhesives, coating, rubber products, and others are further aiding the market growth of phenol.

The demand for phenol in Europe is also being boosted by the rising urbanisation in the region. The rising purchasing power of the consumers is also driving the market growth. The rapid technological advancements in the region are further propelling the market growth. The phenol market in Europe is being driven by the rising demand from the end-use sectors, especially from the BPA segment, which is growing at a healthy rate. The market demand for phenol is also being supported by the rising demand for phenolic resins within the region.

Key Industry Players in the Europe Phenol Market

The report gives a detailed analysis of the following key players in the Europe phenol market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• INEOS Group
• Honeywell International Inc
• Royal Dutch Shell Plc
• Solvay SA
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report