Aminophenol Market to reach USD 2.4 billion by 2032, Says Global Market Insights inc.
Aminophenol Industry size is expected to register 4.2% CAGR between 2023 and 2032 propelled by the increasing expansion of the cosmetics industry.
Selbyville, Delaware , Jan. 10, 2024 (GLOBE NEWSWIRE) — Aminophenol market size is anticipated to be worth USD 2.4 billion by 2032, as per a recent study by Global Market Insights Inc.
The market is growing due to the increasing demand for aminophenol from the pharmaceutical sector. It is extensively used in the synthesis of pharmaceutical intermediates, making it indispensable in drug manufacturing processes. Moreover, the escalating need for dyes and pigments in the textile and automotive industries further fuels the demand for aminophenol, as it is a key precursor in the production of these colorants.
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The surging popularity of hair dyes and cosmetic products amplifies the consumption of aminophenol, accentuating its prominence in the personal care industry. As per the Groupon Survey, an average of USD 3756 is spent every year by American women on beauty products and services. As the global economy rebounds and industrial activities regain momentum, the aminophenol market is poised to witness robust growth.
Increase in stability to drive adoption of fluorescent stabilizers
The aminophenol market value from fluorescent stabilizers application segment is anticipated to witness substantial growth through 2032 as aminophenol compounds find extensive utility as intermediates in the synthesis of these stabilizers. This is crucial in enhancing the stability and durability of various products. Industries such as plastics, coatings, and textiles leverage fluorescent stabilizers to impart desirable optical properties to their end products. The aminophenol-derived stabilizers play a pivotal role in protecting materials from degradation caused by ultraviolet (UV) radiation, ensuring longevity and performance. The compound’s adaptability to emerging technologies and the evolving needs of modern industries will drive the demand for fluorescent stabilizers.
Adoption of advanced agricultural practices to push market growth
The aminophenol market share from agrochemicals end-use segment is expected to generate massive revenue in the market by 2032 as aminophenol is utilized in various agrochemicals like herbicides, insecticides, and fungicides. As global agriculture faces the challenges of increasing population, changing climate patterns, and evolving pest dynamics, the demand for effective and sustainable agrochemicals rises. The adoption of advanced agricultural practices and the need for crop protection solutions will propel the adoption of aminophenol in the agrochemicals sector.
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Growing sustainable practices to influence Europe industry development
Europe aminophenol market size will expand significantly through 2032, driven by stringent regulations and a growing emphasis on sustainable practices in the chemical sector across the region. The product is widely used as a key ingredient in environmentally friendly formulations. The region’s developed pharmaceutical and agrochemical sectors also play a pivotal role in driving the demand for aminophenol. As European industries prioritize innovation and eco-friendly solutions, while there is pursuit of sustainable and efficient chemical processes, the regional industry will grow.
Some of the leading players in the global aminophenol market are Eastman Chemical Company, Lanxess AG, DuPont de Nemours, Inc., Mitsui Chemicals, Inc., Jiangsu Jiamai Chemical Co., Ltd., Alfa Aesar, Sumitomo Chemical Co., Ltd., BASF SE, PI Industries Limited, Evonik Industries AG, Nanjing Trust Chem Co., Ltd., Wanhua Chemical Group Co., Ltd., Daicel Corporation, Changzhou Jinsui Chemical Co., Ltd, and Zhejiang Celestial Chemicals Co., Ltd.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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