Luxury is the new trend in the market due to the increase in the domestic incomes of people worldwide. Rising developments in the industrial sector have led to the growth of many end-user industries, such as personal care products, cosmetics, pharmaceuticals, and chemicals, among others. People can afford luxury products over standard products, and hence, high demand is observed for luxury products in the global market. Growing demand for perfumes and fragrance products has led to high growth in the personal care products industry. This has, in turn, led to strong demand for catechol from the personal care products industry in the market. Other industries, such as agrochemicals and pharmaceuticals, also follow the personal care products industry in terms of demand for catechol worldwide.
Catechol was first discovered in a plant extract called catechin via destructive distillation. Catechol, which is also known as 1,2-dihydroxybenzene or pyrocatechol, is an organic compound that is used for various applications in the global market. It is a colorless compound that is available in very trace amounts. Catechol is used as a precursor to many of the chemicals that are used in the pharmaceutical and personal care product industries. A large number of flavors and fragrances are produced using catechol as a starting material. Hence, high demand is reported for catechol from the personal care products and chemical industries. The major use of catechol is in the agrochemical sector. More than 50% of catechol produced artificially, known as synthetic catechol, is used in the manufacture of pesticides. The remaining catechol is utilized in other industries, such as the chemical, pharmaceutical, personal care, and cosmetics industries. The major factor driving the growth of the catechol market is the increasing demand from the agrochemical industry. Rising demand for pesticides has led to the growth of the agrochemical industry, thereby boosting the growth of the catechol market worldwide. Hence, catechol is expected to experience strong demand from various end-user industries during the forecast period.
The global catechol market is segmented on the following basis:
- Personal care products and cosmetics
- Paints and Coatings
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of Middle East and Africa
Key players identified for the catechol market include but are not limited to:
Solvay (Rhodia), Lianyungang Sanjili Chemical Industry Co., Ltd., UBE Industries, Camlin Fine Chemicals, Sumitomo Chemical Co., Ltd., etc., are some of the key players in the catechol market.
This report offers the following:
- An overview of the global markets for catechol
- Market trends assessment for the period 2013-2023, with historical information for 2013 and 2014 and projections through 2023, with respective CAGRs during 2016 and 2023
- Qualitative assessment tools such as market drivers, challenges, and future prospects; market attractiveness; and positioning of key players
- Focus on each level of market segmentation based on product approvals, launches, and current and anticipated market dynamics.
- A general overview of the industry structure
- Company profiles highlighting key information about the major players operating in the catechol market