Global Resorcinol Market Is Estimated To Witness High Growth Due To Increasing Demand For Increasing Demand From The Rubber Sector And Rising Urbanization

Resorcinol Market
Resorcinol Market

Overview:

Resorcinol is an organic compound that is used as an antiseptic, degreaser, and skin cleaner. It works by killing bacteria and removing scaley, rough skin. It also helps heal psoriasis, eczema, and other conditions that cause scaly or dry skin. Topical applications containing resorcinol are commonly used to treat skin problems such as acne, seborrheic dermatitis, eczema, psoriasis, and warts.

It can be applied to the affected area directly, or mixed with another product such as a moisturizer or conditioner. It is an irritant and can make eyes water. It can also affect thyroid gland. It can cause irritation, redness, itching, and rash on the skin. The lungs can be damaged by resorcinol, as well. It can cause coughing, sneezing, and trouble breathing. It can also cause a severe allergic reaction called anaphylaxis.

Market Dynamics:

Rising product launches are estimated to augment growth of the global Resorcinol Market over the forecast period. For instance, Colorsmith expanded their brand with three new products in January 2022.

These products contain high quality ingredients such as Vitamin E, PPD, Phthalate-free, Resorcinol, Soybean Protein, and Paraben. Moreover, rising risk of health diseases is anticipated to restrain growth of the global resorcinol for market over the forecast period.

Impact of COVID-19:

COVID-19 had a huge impact several businesses across the world. The pandemic had a significant impact on many businesses across the world. Many governments imposed strict restrictions for preventing further transmission of the virus. The pandemic affected the production and demand of various products.

These restrictions also hampered the manufacturing activities of various products. Only essential items were being manufactured owing to government imposed strict nationwide lockdowns. People were also reducing non-essential expenses from their budget. All these factors restrained the growth of the global Resorcinol Market during the pandemic.

Key Takeaways:

The global Resorcinol Market is expected to witness high growth, exhibiting CAGR of 6.3 % over the forecast period, due to increasing research and developmental activities.

For instance, SI GROUP launched ELAZTOBOND™ B8-3410 in September 2020, for using in rubber bonding.

Asia-Pacific is anticipated to witness significant growth in the global Resorcinol Market over the forecast period, owing to growing rapid urbanization and increasing demand from developing nations like India and China. Major players operating in the global resorcinol for market are Atul Ltd, Sumitomo Chemical Co. Ltd, TWC Group, and Dynea AS.

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