United States Phenol Market Report and Forecast 2024-2032

United States Phenol Market Size

The United States phenol market attained a volume of 3.4 Billion tons in 2023. The market is further projected to grow at a CAGR of 4.6% between 2024 and 2032, reaching a volume of 5.1 Billion tons by 2032.

Key Takeaways

• As per industry reports, the phenol price in the United States increased to 1,030 USD per metric ton in April 2019, representing a 7% rise.

• Phenol is an aromatic organic compound derived from benzene, with global demand amounting to about 12 million metric tons in 2022.

• BPA leads the United States phenol market share as it represents nearly half of global phenol consumption, with major end-use markets in polycarbonate and epoxy resins.

The increasing demand for phenol in various industries such as plastics, composites, and laminates is driving the market growth. For instance, phenol is used in the production of phenolic resins, which are widely used in the manufacturing of plywood, laminated beams, and flooring panels. The growing construction activities around the world are expected to boost the demand for phenolic resins, thereby driving the United States phenol market growth.

The use of phenol as a disinfectant and cleaner for electronic devices and machinery parts is fuelling the market growth. The increasing usage of phenols in everyday products such as mouthwash, disinfectants, inks, liquid detergents, and floor cleaners is also contributing to the market’s expansion. For instance, Lysol, a well-known brand of disinfectants, uses phenol as a key ingredient in its products.

The increasing demand for phenol and phenol derivatives from chemical and pharmaceutical sectors is expected to accelerate the United States phenol market share. phenol is used as a feedstock for a wide range of compounds and derivatives. For instance, phenol is used in the production of aspirin, paracetamol, and other painkillers.

Phenolic resins are a significant segment, with a growing demand from various industries such as plastics, composites, and laminates. The cumene process is the most common technology used for manufacturing phenol, which is used in the production of phenolic resins.

Meanwhile, BPA is primarily used for manufacturing epoxy resins and polycarbonate, which are high-performing materials used in consumer electronics and industrial applications. The growing demand for BPA is expected to boost the market over the forecast period. Furthermore, the increasing demand for nylon for manufacturing technical textiles, carpets, and other applications is expected to drive the growth of the caprolactam segment during the forecast period.

Market Segmentation

United States Phenol Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Product Type

• Phenolic Resin

• Bisphenol A

• Caprolactam

• Others

Market Breakup by Region

• New England

• Mideast

• Great Lakes

• Plains

• Southeast

• Southwest

• Rocky Mountain

• Far West

Competitive Landscape

Market players are focusing on expanding their production capacity and investing in research and development activities to develop new and innovative phenol-based products.

• INEOS AG 

• Mitsubishi Chemical Group Corporation 

• Honeywell International Inc. 

• Shell PLC 

• Solvay SA 

• ALTIVIA 

• AdvanSix Inc.  

• Capital Resin Corporation 

• SI Group, Inc. 

• Others

Key Highlights of the Report