The market for Catechol: Market is expected to reach XX Mn in 2023.
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.
By End-User
By Geography
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.
The market for Catechol: Market is expected to reach XX Mn in 2023.
The Catechol: Market is expected to see significant CAGR growth over the coming years,at XX%.
The report is forecasted from 2016-2023.
The base year of this report is 2015.