In the first two quarters of 2023, Resorcinol prices faced diverse challenges across Asia, Europe, and North America. In Asia, factors such as high inventories, reduced manufacturing, and export rates, alongside Chinese government measures to combat economic downturn, led to a significant price decline. Europe witnessed an initial surge in Resorcinol prices driven by stable demand and supply shortages, but a subsequent fall was attributed to sliding demand, increased imports, financial difficulties, and reduced ocean freight charges. North America experienced growth in the first quarter due to higher sales in pharmaceutical and disinfection industries, yet the second quarter saw rising inventories amid weak demand and falling raw material costs.
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Resorcinol is a chemical compound with the molecular formula C6H4(OH)2. It is a white crystalline solid that is soluble in water and many organic solvents. Resorcinol possesses unique properties that make it valuable in various industrial applications. It is known for its adhesive qualities, enhancing the bonding of rubber and reinforcing tires. Additionally, it is used in pharmaceuticals and biologically active compounds, serving as a crucial building block for specific drugs. Resorcinol is also employed in the cosmetics industry for its antioxidant properties and as a colorant in hair dyes and other products. In wood preservation, it safeguards timber from decay, fungi, and insects, and in analytical chemistry, it serves as a reagent in qualitative tests.
Key Details About the Resorcinol Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Resorcinol in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Resorcinol Price Trend, including India Resorcinol price, USA Resorcinol price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Resorcinol Price Trend:
Resorcinol has several essential industrial applications due to its unique properties. It is prominently employed in the production of adhesives and resins, particularly in the rubber industry, where it enhances adhesion and durability in tire manufacturing. In pharmaceuticals, resorcinol is used as a key intermediate in the synthesis of various pharmaceutical compounds. Its antioxidant properties make it valuable in cosmetics and personal care products, including hair dyes and skincare formulations. In the wood preservation industry, it acts as a potent preservative, protecting timber from decay and insect infestation. Furthermore, it finds use in the textile sector, particularly in dyeing and printing processes, where it contributes to color development and retention.
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