Phenol is an aromatic compound commonly known as carbolic acid that has a similar structure to alcohol but with higher levels of acidity. The global phenol market is driven in large part by the surging demand for bisphenol – A. The demand in the global phenol market is substantially influenced by general macroeconomic factors and thus, the consumption of phenol has a direct relation to the growth patterns of major world economies. Phenol is widely used in many different applications including medical, electrical, textile wood, resin paint, and dyeing. The global phenol market is predicted to witness a robust CAGR of 6.8% from 2017 to 2022.
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