Why did the Phenol Price Change in July 2025? The average North American Phenol Price Index stood at USD 1040/MT, FOB Louisiana during Q2 2025, a decline of 9% from Q1 2025, with a trend of mixed pricing—early-quarter decrease, mid-quarter recovery, and late-quarter stabilization.

Get comprehensive insights into the Phenol market, with a focused analysis of the Phenol price trend across Asia, Europe, North America, Latin America, and the Middle East Africa.

The nonyl phenol prices in India reached 2040 USD/MT in September. In Q3 2024, India’s nonyl phenol market displayed stable pricing trends, supported by steady orders from the detergent and personal care sectors. Seasonal monsoon effects had a minor impact on consumption levels, while a stable supply—ensured by reliable access to Phenol—helped maintain market equilibrium.

The direction of phenol prices across the largest ten trading countries was influenced by shifting regional supply-demand dynamics, feedstock cost volatility, and the fortunes of the downstream sector in 2024.

Nonyl Phenol prices in North America witnessed a gradual downward trend throughout Q1 2025, driven by softened demand fundamentals and stable production costs. In January, market activity remained subdued but relatively balanced, with adequate supply levels and steady operations across domestic manufacturing units. However, by February and March, weaker consumption patterns from downstream sectors, such as detergents, lubricating oil additives, and plastic stabilizers, began to weigh on market sentiment.

In Q1 2025, the price trend for Phenol in the North American region consistently demonstrated a bullish outlook. Throughout January, the combination of severe winter storms and disruptions in freight transportation created notable supply chain bottlenecks, prompting a significant price increase. Concurrently, rising feedstock Benzene prices escalated production costs, reinforcing price pressures.

Explore the factors influencing phenol pricing in the industrial sector, including crude oil trends, supply-demand dynamics, and geopolitical events. Understand the market complexities and historical volatility impacting its costs.

The size of the Phenol Market was valued at USD 24.3 Billion in 2023 and is projected to reach USD 41.4 Billion by 2032, with an expected CAGR of 4.9% during the forecast period. Phenol is a basic organic compound and is also needed in different industries. The market can anticipate huge growth due to its importance in making plastics, resins and medications. The spike in vehicle production, driven by the requirement for high-performance materials, has significantly increased demand for phenolic resins. Simultaneously, the construction industry's continual need for these resins is driven by ongoing infrastructure initiatives and advances in building materials. Emerging nations, particularly China and India, are witnessing strong construction sector expansion as a result of increased industrialization, urbanization, and infrastructure spending. This opens up considerable opportunity for phenol suppliers to increase their market presence and capitalize on rising demand. In addition, manufacturers are also investing more in research & developments to improve production methods, with the goal of reducing environmental impact and increasing resource efficiency. Recent developments include: August 2022: INEOS Phenol announced the acquisition of the asset base of Mitsui Phenols Singapore Ltd from Mitsui Chemicals for a total consideration of USD 330 million. The addition of the Jurong phenol and BPA assets will provide integration opportunities with manufacturing sites in Germany, Belgium, and the United States. The acquisition will increase the total production capacity by 1 million tonnes., April 2022: Cepsa launched the new line of sustainable chemical NextPhenol, which is produced from the recycled feedstock. The launch of the new product range is a part of Cepsa's ambition to make its business activities fossil-free.. Key drivers for this market are: High Demand of Bisphenol-A, Other Drivers. Potential restraints include: Ban on BPA in the United States and Europe, Others Restraints. Notable trends are: Bisphenol-A Product Type to Drive the Market.

The Europe phenol market reached a volume of around USD 4.71 Billion in 2024. It is expected to grow at a CAGR of 3.90% between the forecast period of 2025-2034 to reach a volume of nearly USD 6.91 Billion by 2034.

The global phenol acid market is expected to reach US$ 26.13 billion in 2024. Fact.MR’s latest industry analysis forecasts the market to expand at 4.8% CAGR and reach US$ 41.77 billion by 2034-end.

Report Attributes	Details
Phenol Market Size (2024E)	US$ 26.13 Billion
Forecasted Market Value (2034F)	US$ 41.77 Billion
Global Market Growth Rate (2024 to 2034)	4.8% CAGR
Canada Market Growth Rate (2024 to 2034)	5.8% CAGR
China Market Value (2034F)	US$ 9.19 Billion
North America Market Share (2024E)	28.6%
East Asia Market Share (2034F)	38.4%
Key Companies Profiled	Mitsubishi Chemical Corporation Shell INEOS LG Chem Cepsa Mitsui Chemicals Inc. Solvay Royal Dutch Shell

Country-wise Insights

Attribute	United States
Market Value (2024E)	US$ 5.36 billion
Growth Rate (2024 to 2034)	5.2% CAGR
Projected Value (2034F)	US$ 8.93 Billion

Attribute	China
Market Value (2024E)	US$ 5.43 billion
Growth Rate (2024 to 2034)	5.4% CAGR
Projected Value (2034F)	US$ 9.19 Billion

Category-wise Evaluation

Attribute	Phenol for PPO/Orthooxylenol Production
Segment Value (2024E)	US$ 8.1 Billion
Growth Rate (2024 to 2034)	4.6% CAGR
Projected Value (2034F)	US$ 13.2 Billion

The market value of phenol was approximately 23.12 billion U.S. dollars worldwide in 2022. By 2030, the global market value of this organic compound is expected to grow to around 28.99 billion U.S. dollars.

Get the latest insights on price movement and trend analysis of Phenolic Resin in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

Pharma Grade Phenol Market Outlook

The global pharma grade phenol market size is expected to witness significant growth, reaching USD 2.8 billion by 2032 from USD 1.6 billion in 2023, reflecting a robust CAGR of 5.6% during the forecast period. The growth of this market is primarily driven by the increasing demand for high-quality phenol in pharmaceuticals, coupled with advancements in medical research and heightened awareness about hygiene and sanitation.

One of the primary growth factors for the pharma grade phenol market is the rising prevalence of infectious diseases and the consequent demand for effective disinfectants and antiseptics. With increased healthcare spending globally and the need to maintain sterile environments in hospitals and clinics, pharma grade phenol is becoming a critical component in ensuring patient safety and reducing the spread of infections. Additionally, the aging global population and the rise in chronic diseases have necessitated the development of more advanced pharmaceutical products, thereby boosting the demand for high-purity phenol.

Another significant factor propelling market growth is technological advancements in phenol production and purification processes. Innovations in chemical synthesis and purification technologies have led to the production of phenol with higher purity levels, which are essential for pharmaceutical applications. These advancements not only enhance the efficacy and safety of pharmaceutical products but also cater to the stringent regulatory requirements imposed by health authorities worldwide. As a result, pharmaceutical companies are increasingly investing in high-purity phenol to improve their product portfolio and comply with regulatory standards.

The growing awareness about hygiene and sanitation, especially in the wake of the COVID-19 pandemic, has also played a crucial role in the market's expansion. The pandemic underscored the importance of cleanliness and infection control, leading to a surge in demand for disinfectants and antiseptics containing pharma grade phenol. This trend is expected to continue as governments and health organizations emphasize the need for improved hygiene practices to prevent future outbreaks, thereby driving the demand for phenol-based products.

Ortho Phenylphenol, a derivative of phenol, is gaining traction in the pharmaceutical industry due to its potent antimicrobial properties. It is widely used as a preservative in various pharmaceutical formulations, ensuring the longevity and stability of products. The compound's effectiveness in inhibiting the growth of bacteria and fungi makes it an invaluable component in the production of antiseptics and disinfectants. As the demand for safe and effective pharmaceutical products continues to rise, the role of Ortho Phenylphenol in enhancing product quality and safety becomes increasingly significant. Its application is not limited to pharmaceuticals; it is also utilized in the food industry as a preservative, further highlighting its versatility and importance in maintaining product integrity across different sectors.

Regionally, Asia Pacific is anticipated to dominate the pharma grade phenol market, supported by rapid industrialization, a booming pharmaceutical sector, and significant investments in healthcare infrastructure. Countries like China and India are key contributors to this growth, given their expansive pharmaceutical manufacturing capabilities and increasing healthcare expenditure. North America and Europe are also expected to show substantial growth owing to advanced healthcare systems and a high demand for pharmaceutical products.

Application Analysis

The application segment of the pharma grade phenol market is primarily categorized into pharmaceuticals, disinfectants, antiseptics, and others. The pharmaceutical application is projected to hold the largest market share due to the extensive use of phenol in drug formulations and medical preparations. PhenolÂ’s antiseptic properties make it an essential ingredient in various pharmaceutical products designed to prevent and treat infections. Moreover, the ongoing research and development activities aimed at discovering new therapeutic applications for phenol further bolster its demand in the pharmaceutical sector.

Disinfectants represent another significant application segment driven by the heightened need for sterilization in medical facilities. With the rise in hospital-acquired infections

The para aminophenol prices in the UAE for Q2 2024 reached 3260 USD/MT in June. Extended supply network challenges, such as cross-border issues and shipping disruptions, impacted the market in Q2 2024. A post-holiday demand slump and strategic inventory management contributed to price drops.

The global phenol market size reached a value of approximately USD 22.00 Billion in 2024. The industry is expected to grow at a CAGR of 4.20% during the forecast period of 2025-2034. A major driver for the phenol market is the increased demand for bisphenol A (BPA), which is widely used in the production of polycarbonate plastics and epoxy resins. These are necessary for the automotive, construction, and electronics industries, thus aiding the market growth to attain a valuation of USD 33.20 Billion by 2034. Moreover, phenolic resins, which are produced from phenol, play a critical role in various automotive and construction applications. Surging demand for BPA and phenolic resins is driving the growth of the market. In addition, with demand for sustainable products increasing, it is expected to shape the phenol market during the forecast period.

Global Phenol & Acetone market size 2025 was XX Million. Phenol & Acetone Industry compound annual growth rate (CAGR) will be XX% from 2025 till 2033.

The North American market mirrored the European pricing pattern, showing a stable and steady increase in Para Aminophenol prices across the first quarter of 2025. Early in the quarter, buyers benefited from softened global PAP prices driven by oversupply conditions in China and cautious sentiment among exporters. However, this short-lived window of affordability closed as February approached. Import prices into the U.S. and Canada began to climb steadily in February, driven by tightening supply from Asia following the Lunar New Year shutdown and a rebound in pharmaceutical demand within China.

High Purity Phenols Market Outlook

The global high purity phenols market size was valued at approximately USD 17.2 billion in 2023 and is expected to reach around USD 29.4 billion by 2032, registering a CAGR of 6.3% during the forecast period. The key growth factors driving this market include increased demand from the plastics and polymers industry, the burgeoning pharmaceutical sector, and advancements in electronic materials requiring high purity phenols.

A significant growth factor for the high purity phenols market is the rising demand from the plastics and polymers industry. High purity phenols are used as an essential raw material in the manufacturing of polycarbonates and epoxy resins, which are integral in the production of a wide array of plastic products. The increasing use of plastics in automotive, construction, and packaging industries has further driven the demand for high purity phenols. Moreover, the lightweight yet durable nature of polycarbonates has made them a preferred choice in the automotive industry to enhance fuel efficiency.

Another crucial growth driver is the robust expansion of the pharmaceutical industry. High purity phenols are extensively utilized in the synthesis of various pharmaceutical compounds, including antiseptics, anesthetics, and disinfectants. The growing global awareness towards healthcare and the increasing prevalence of chronic diseases have prompted pharmaceutical companies to ramp up their R&D activities, thereby bolstering the demand for high purity phenols. Additionally, the ongoing advancements in drug formulation techniques are expected to create new avenues for market expansion.

Technological advancements in the electronics sector are also propelling market growth. High purity phenols are essential in the production of electronic components such as semiconductors and insulators. The electronics industry is experiencing rapid growth due to the increasing adoption of smart devices, IoT technologies, and the expansion of 5G networks. This surge in demand for advanced electronic components is driving the need for high purity phenols, thus contributing to market growth. Furthermore, the stringent regulatory standards governing the electronics industry necessitate the use of high purity materials, further supporting market expansion.

In addition to these growth drivers, the exploration of plant phenol derivatives is gaining traction in the high purity phenols market. Plant phenol, known for its natural antioxidant properties, is being increasingly researched for its potential applications in pharmaceuticals and cosmetics. The shift towards natural and sustainable ingredients in these industries is fueling interest in plant phenol as a viable alternative to synthetic phenols. This trend is aligned with the growing consumer preference for eco-friendly and health-conscious products, which is expected to open new avenues for the high purity phenols market. As research progresses, the integration of plant phenol into various applications could provide significant opportunities for market expansion.

Regionally, the Asia Pacific region is expected to dominate the high purity phenols market during the forecast period. The region's strong industrial base, particularly in China, India, and Japan, coupled with favorable government policies promoting industrialization, is expected to drive market growth. Additionally, the presence of major pharmaceutical and electronics manufacturing hubs in the region is expected to bolster the demand for high purity phenols. North America and Europe are also significant markets due to their advanced pharmaceutical and electronics industries, though their growth rates will be modest compared to the Asia Pacific region.

Product Type Analysis

The high purity phenols market is segmented by product type into phenol, cresols, xylenols, and others. Phenol, being the most prominent product type, holds a significant market share due to its extensive application across various industries. Phenol is primarily used in the production of bisphenol A (BPA), which is a key ingredient in manufacturing polycarbonate plastics and epoxy resins. The increasing demand for these plastics in automotive, construction, and electronic sectors is driving the phenol segment. Additionally, phenol's use in the pharmaceutical industry for manufacturing antiseptics and disinfectants further supports its market dominance.

Cresols, another important segmen

In 2022, the market volume of phenol worldwide was ***** million metric tons. It is forecast that the global market volume of phenol will increase to ***** million metric tons in 2030. Phenol is an aromatic organic compound. It is used to make chemicals such as bisphenol A, phenolic resins, adipic acid, and others.

Global Phenol market size 2021 was recorded $24377.8 Million whereas by the end of 2025 it will reach $30154 Million. According to the author, by 2033 Phenol market size will become $46136.8. Phenol market will be growing at a CAGR of 5.46% during 2025 to 2033.