The global 4-tert-Amyl phenol market was valued at US$ 18.5 million in 2020, according to the Global 4-Tert-Amylphenol Market Report, by Application (Plastic Additive, Vulcanizing Agent, Disinfectant, Pesticide, Emulsifier, and Others), by End-use (Plastics & Polymer Industry, Rubber Industry, Surface Cleaners, Textile, Agriculture, Oil Drilling, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights.
The global 4-tert-amylphenol market is expected to surpass US$ 27.9 million by 2028 and exhibit a CAGR of 5.9% during the forecast period (2021-2028).
4-tert-amylphenol is utilized as pesticide in agricultural applications. Constantly increasing population is also propelling the demand for a steady supply of food, which is a major challenge for governments of various economies. To overcome this challenge, government offers subsidiary schemes and easy availability of advanced agricultural equipment at low cost. For instance, in India, the Department of Agriculture, Cooperation and Farmers Welfare started Sub-Mission on Agricultural Mechanization schemes in 2014 to provide subsidiary to farmers on machinery. These factors are expected to drive the agricultural market growth across the globe, which in turn is expected to propel the global 4-tert-amylphenol market growth over the forecast period
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Key Trends and Analysis of the 4-tert-Amyl Phenol Market:
Global 4-tert-amylphenol Market - Impact of Coronavirus (COVID 19) Pandemic
The global 4-tert-amylphenol market has been negatively impacted due to the ongoing COVID-19 pandemic. This can be attributed to the imposition of lockdown, travel restrictions, and shutting down of manufacturing facilities. The unavailability of raw materials required for manufacturing of various industrial products had further hampered the demand for 4-tert-amylphenol. However, the restarting of international trade and ease of trade restrictions are expected to generate the demand for 4-tert-amylphenol in the near future. The reopening of manufacturing facilities is also expected to boost the global 4-tert-amylphenol market over the post-pandemic period.