Phenol belongs to any of a family of organic compounds that are categorized by a hydroxyl or – OH group connected to a carbon atom which is part of an aromatic ring. Apart from aiding as the general name for the complete family, the name phenol is also a definite term for its simplest member, monohydroxybenzene (C6H5OH), also identified as benzenol or carbolic acid.
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Moreover, phenols are the same as alcohols; however, they form sturdy hydrogen links. Hence, they are more soluble in water as compared to alcohol and have greater boiling points. Besides, phenols appear as colourless liquids or white solids at room temperature and may be extremely poisonous and acidic.
China, the US, South Korea, Taiwan, and Germany are the top phenol-producing countries, globally.
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Key Details About the Phenol Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Phenol price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.
The Phenol Price Trends, including India Phenol price, USA Phenol price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting Phenol Price Trend:
One of the widespread utilisation of phenol is in household commodities and as intermediate for industrial production. For instance, phenol is employed in fewer concentrations as disinfection in household cleaners and in mouthwash. Phenol can be the first surgical antiseptic. Additionally, industrially phenol can also be employed as a starting material to produce plastics, explosives like picric acid, and drugs such as aspirin. Hydroquinone is the most common phenol, an important element of photographic development that decreases exposed silver bromide crystals to black metallic silver. Besides, alternative phenols are utilised in the dye industry to produce severely coloured azo dyes. Furthermore, combinations of phenols, specifically cresols, are employed as constituents in wood preservatives like creosote.
Key Players:
- Shell Chemical Co
- INEOS Phenol GmbH
- Compañía Española de Petróleos, S.A.U.
- Mitsui Chemicals Inc.
- Kumho P&B Chemicals, Inc.
- LG Chem Ltd.
- Taiwan Prosperity Chemical Corporation
- Honeywell International Inc.
- Solvay SA
News & Recent Development:
- April 03, 2023: INEOS recently announced that its subsidiary, INEOS Phenol, has successfully purchased all Mitsui Phenols Singapore Ltd assets from Mitsui Chemicals for an absolute USD 330 million. As per INEOS Phenol, this acquirement of the Jurong Phenol and BPA assets will prove to be a great match to their present asset portfolio and proficiency.
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Reference Link – https://researz.com/phenol-price-trend/