RESORCINOL MARKET ANALYSIS

Market News

Key Developments

• In July 2019, a research study published on Springer Nature Journal, studied the use of resorcinol formaldehyde resins as a semiconductor in solar energy applications. As resorcinol is a main raw material for manufacturing resorcinol formaldehyde, new application development will drive the growth of resorcinol market during the forecast period.
• In April 2017, Indspec Chemical announced closure of its resorcinol plant in Petrolia, Pennsylvania (U.S.) due to low plant efficiency and viability as compared to the competition. This provided Amino-Chem and Sumitomo Chemicals export opportunities in the North American market as Indspec Chemical is the sole producer of resorcinol in the U.S.
• In November 2017, Sumitomo Chemicals announced the expansion of its resorcinol facility at Oita, Japan. The Oita facility will have a total production capacity of 12 kilo tons after expansion. The expansion was intended to meet the demand as Indspec chemical announced its plans to cease the production facility in the U.S.