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Phenol (carbolic acid; hydroxybenzene) is a white, crystalline solid at room temperature. Most phenol is consumed molten as a clear, colorless liquid. It is both the simplest hydroxybenzene and the most commercially important. Phenol was first isolated from coal tars in the mid-1800s. Currently, nearly all world production of phenol is via cumene peroxidation, with acetone as a coproduct.
Bisphenol A (BPA) accounted for 44% of global phenol consumption in 2007, followed by phenol-formaldehyde (PF) resins at 27%. BPA and PF resins are produced in all regions; production of BPA is more prevalent in developed economies. However, investments in BPA facilities have begun or are scheduled to begin in developing regions where demand has surged in recent years. Other applications for phenol include caprolactam, alkylphenols, aniline and adipic acid. Phenol consumption for caprolactam and, to a lesser degree, alkylphenols is limited mainly to the United States and Western Europe.
Demand for BPA, PF resins and caprolactam is greatly influenced by general economic conditions. As a result, demand for phenol largely follows the patterns of the leading world economies.
The following pie chart shows world consumption of phenol:
Growth rates for end-use markets vary by region. Consumption of phenol for BPA will be driven by growth in Asia and the Middle East. Increased demand and capacity for BPA will result in strong demand for phenol in these regions, although as of mid-2008 there has been a slowdown in demand for BPA and downstream polycarbonate resins. Overall, world consumption of phenol for BPA is estimated to grow at a good average annual rate during 2007–2012.
Consumption of phenol for PF resins shows more regional variation than BPA. In the United States, Western Europe and Japan, phenol consumption for PF resins is forecast to grow slowly during 2007–2012, in contrast to developing regions such as Southeast Asia, Central and Eastern Europe, and Central and South America where consumption is forecast to grow at a good rate annually.
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