Phenol market size to grow by USD 584 billion from 2021 to 2026 Growth driven by increasing demand for phenol from developing economies Technavio

NEW YORK, April 4, 2023 /PRNewswire/ — The global phenol market size is estimated to grow by USD 5.84 billion from 2021 to 2026, according to Technavio. The market is estimated to grow at a CAGR of 4.36% during the forecast period. The market is driven by the increasing demand for phenol from developing countries. The demand for phenol is increasing in countries such as India, China, Brazil, Russia, and Indonesia. This can be attributed to the growth of various end-user industries such as manufacturing, food and beverage, pharmaceutical, electronics, and consumer products in these countries. Many OEMs of phenol…