| Source: Rationalstat LLC
Wilmington, Delaware, UNITED STATES
Wilmington, Delaware, Nov. 09, 2023 (GLOBE NEWSWIRE) — Global Phenol Market is valued at US$ 11.9 billion in 2023 and is expected to grow at a significant CAGR of over 3.7% over the forecast period of 2023-2030, according to the published market report by RationalStat
Market Definition, Market Scope, and Report Overview
Phenol, also known as carbolic acid, is a chemical compound with the molecular formula C6H5OH. It is a white crystalline solid with a characteristic sweet, tarry odor. Phenol is a type of organic compound that contains a hydroxyl (-OH) group attached to a benzene ring. This hydroxyl group makes phenol an aromatic alcohol.
The global population is aging, leading to a higher prevalence of heart-related conditions, including aortic valve disease. As people age, the risk of aortic valve deterioration increases, driving the demand for replacement devices. Ongoing clinical trials and research efforts are aimed at enhancing the safety and efficacy of phenol, attracting investments, and driving innovation in the field.
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Global Phenol Market: Segmental and Market Share Analysis
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Competition Analysis and Market Structure
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global phenol market include,
Some of the prominent players and suppliers operating and contributing significantly to the global phenol market growth include INEOS, Shell, Dow, Mitsui Chemicals, Cepsa, PTT Global Chemical Public Company Limited, LG CHEM, Honeywell International Inc, Mitsubishi Chemical Group Corporation, Lummus Technology, and Solvay, among others.
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RationalStat has segmented the global phenol market based on sales channel, application, end user and region
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Key Questions Answered in the Phenol Report:
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RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
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