Catechol Market Overview
Market Research Future (MRFR) Announces the Publication of its Research Report – Global Catechol Market 2016-2022
Market Research Future (MRFR) recognizes the following companies as the key players in the global COVID-19 analysis on catechol market: Solvay, Lianyungang Sanjili Chemical Industry Co., UBE Industries, Camlin Fine Chemicals, Sumitomo Chemical Co, Trivenichemical, Spectrum Chemical Mfg. Corp, Rohdia , Sanjili Chemical, Mitsui Chemicals and others.
Commenting on this report, an analyst from Market Research Future (MRFR)’s team said, “Global catechol market report is expected to grow at highest rate of approximately of in billion by 2022. Catechol is also known as pyro catechol it is an organic compound with molecular formula C6H4 (0H) 2. Catechol is colorless and naturally occur in nature. Catechol are used in various applications such as, rubber hardener, electroplating additive, hair colorant, skin antiseptic, photographic developer, lubricants and paints and varnishes and many others.
The drivers of the catechol industry share are due to in many developing countries rise in disposable income and rise in purchasing power and increase in manufacturing industries of pharmaceuticals and personal care products has fuel the market. Fragrances are utilized in various application namely in soaps, shampoos, creams and many others have led to high growth of the personal care industry. Additionally, catechol is used in food and beverages sector. Catechol is the basic ingredient used in preparations of vanillin and Ethyl-Vanillin. Catechol is very soluble in water and readily biodegradable. It has a low potential for bioaccumulation. It is not classified as dangerous for the environment. Industrial emissions and disposal, treatment or recycling must comply with applicable regulations to preserve environment
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Catechol Market Regional Insights:
APAC is one of the growing region due to its economies, cheap labor cost in APAC and economical material used for production process. Moreover, Asia Pacific is projected to be the fastest growing market mainly due to steel, cement, glass, non-ferrous and others applications. While, Middle East & Africa regions are at the emerging stage in the catechol market share. In 2012, Chinas demand for catechol was 20,000 tons with anticipated CAGR of 24.6%. It was estimated that catechol demand will reach 50, 000 tons in 2015.
Geographically, North-America is expected to be the fastest growing market for catechol. North-America is most prominent market and its market share has accounted for second largest share in 2016, North America has been growing at faster pace due to rising manufacturing industries and demand for catechol will aid in rise in growth of catechol market. U.S has accounted for the largest share in 2016.
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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of market and industries. Cordially get in touch for more details.