Cashew Nutshell Liquid Market – Global Industry Analysis and Forecast (2023-2029)

Cashew Nutshell Liquid Market was valued at US$ 418.46 Mn in 2022. Cashew Nutshell Liquid Market size is expected to grow at a CAGR of 7.3% through the forecast period.
Cashew Nutshell Liquid Market Overview:
In the cashew industry, the cashew nutshell product is a multiuse product. The thickness of the nutshell is about 1/8 inch and inside it, there is a soft honeycomb structure including a dark reddish brown viscous liquid. The pericap fluid of cashew nut is called cashew nut shell liquid (CNSL).

For unsaturated phenols, cashew nut shell liquid is considered as the better and cheaper product. In polymer-based industries it has infinite applications such as laminating resins, friction linings, paints and varnishes, cashew cements, rubber compounding resins, polyurethane-based polymers, surfactants, epoxy resins, foundry chemicals and intermediates for chemical industry.To know about the Research Methodology:-Request Free Sample Report
Cashew Nutshell Liquid Market Dynamics:
Market Drivers:

Numerous applications are growing the demand in the cashew nutshell liquid market. The surfactants of CNSL are used in the agrochemical these choice plays a chief role, besides the surfactants improve pesticide efficiency by several mechanisms. The surfactants which include CNSL increases the defoliants, foliar uptake of herbicides, and growth regulators.

In the cashew nut shell liquid market, there is a demand for the eco-friendly products, and owing to this companies are focusing on “green chemistry”. From a various ingredients in the cashew nutshell liquid the surfactants-based ingredients are one of the important ingredients for personal care products, such as ointments, skincare, haircare, creams, gels, and other cosmetic products.

Owing to the rising population and modern lifestyle the personal care industry is growing rapidly, and there is a rise in spending on better personal care products due to these the cashew nutshell liquid market is expected to grow. Retail industries are also getting organized in the emerging economies such as India, Brazil, and China, there is also helping the personal care industry to drive the growth in the cashew nutshell market.

Market Restraints:

The prices of the raw material is unstable. To manufacture and determine the cost structure of the products price and availability of the raw material are the key factors. The raw material which is used by the industry includes synthetic rubbers, industrial inorganic chemicals, plastic resin, inorganic chemicals and refined petroleum products. From various raw materials most of the raw materials are petroleum-based derivatives, which are vulnerable to fluctuations in commodity prices. Oil prices are unstable in recent times.

Market Opportunities:

The demand for bio-based and sustainable green products is rising. Manufacturing from the petrochemicals results in environmentally hazardous by-products and carbon emissions. Due to these, various kinds of non-hazardous and eco-friendly products are being manufactured. Owing to this resulted in the production of synthesizing bio-based solutions. Additionally for reducing the carbon footprints, the bio-based products can be formulated to rich the consumer demands.

The high growth in the cashew nutshell liquid market is expected by increasing awareness of the benefits of biodegradable products which are resulted in the emerging market of innovative products.
Cashew Nutshell Liquid Market Segment Analysis:
Based on Type, the polyols & NCO blocking agents segment held the largest market share of 19 % in 2022. The CNSL polyols have qualities compared to natural oil polyols, polyether polyols and others. During the isocyanate, the CNSL polyols and diols provide water resistance and are less sensitive.

Such as coating and adhesives the blocked isocynates are well known in the industries. A solution to health concerns while the coating is provided, owing to the application such as coil coatings, electrostatic spraying, and spraying powder.Based on the Application, the personal care segment held the largest market share of 23% of market share in 2022. Owing to the modern lifestyle personal care is one of the fastest-growing applications in the cashew nutshell liquid market. For the manufacturing of surface-active agents and non-ionic, the CNSL is used. A hydrocarbon group and hydrophilic phenolic group are owned by the structure. To improve the ion exchange capabilities, such as the sulphonic acid group, owning to these the structures are modified.

For water-in-oil and oil-in-water, the ion exchange systems are good emulsifiers. Owing to these factors the materials are then used in personal care products.
Cashew Nutshell Liquid Market Regional Insights:
The Asia Pacific region dominated the market with 28 % share in 2022. The Asia Pacific region is expected to witness significant growth at a CAGR of 7.3% through the forecast period. The raw material is readily available, owing to the emerging industries coupled with the increasing demand for the CNSL as an alternative to the unsaturated phenols led the Asia Pacific region to dominate the cashew nutshell liquid market. It is expected to grow owing to the increasing economy, and rising domestic demand for bio-based exports and products. There is a positive impact on the cashew nutshell liquid market owing to the environmental regulations and volatile raw material prices.

North America is the second dominant region with a CAGR of 6.2 % during the forecast period. Owing to the rising demand for the CNSL from the industries in the North America region.

The objective of the report is to present a comprehensive analysis of the Global Cashew Nutshell Liquid Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Cashew Nutshell Liquid Market dynamic, structure by analyzing the market segments and projecting the Cashew Nutshell Liquid Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the Cashew Nutshell Liquid Market make the report investor’s guide.
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Global Cashew Nutshell Liquid Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 418.46 Mn.


Forecast Period 2023 to 2029 CAGR:
7.3%
Market Size in 2029:
US $ 685.27 Mn.


 Segments Covered:
by Type
• Epoxy Curing Agents
• Epoxy Modifiers & Resins
• Surfactants
• Phenol-Formaldehyde (PF) Resins
• Friction Materials
• Polyols & NCO Blocking Agents
• Others


by Application
• Personal Care
• Adhesives
• Friction Linings
• Laminates
• Foams & Insulation
• Coatings
• Others



Cashew Nutshell Liquid Market, by Region:
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Cashew Nutshell Liquid Market Key Players are:
• Senesel
• CIONE
• KSA Kamath and Sons
• K2P Chemicals
• Sri Devi Group
• Muskaan
• Shivam Cashew Industry
• Cat Loi
• LC BUFFALO
• Son Chau
• Palmer International,
• Olam Agro India Pvt. Ltd
• Cardolite
• C.Ramakrishna Padayatchi
• Golden Cashew Products
• Adarsh Industrial Chemicals

Frequently Asked Questions:

1] What segments are covered in the Global Cashew Nutshell Liquid Market report?
Ans. The segments covered in the Cashew Nutshell Liquid Market report are based on Product Type and Application.

2] Which region is expected to hold the highest share in the Global Cashew Nutshell Liquid Market?
Ans. The Asia Pacific region is expected to hold the highest share in the Cashew Nutshell Liquid Market.

3] What is the market size of the Global Cashew Nutshell Liquid Market by 2029?
Ans. The market size of the Cashew Nutshell Liquid Market by 2029 is expected to reach US$ 685.27 Mn.

4] What is the forecast period for the Global Cashew Nutshell Liquid Market?
Ans. The forecast period for the Cashew Nutshell Liquid Market is 2023-2029.

5] What was the market size of the Global Cashew Nutshell Liquid Market in 2022?
Ans. The market size of the Cashew Nutshell Liquid Market in 2022 was valued at US$ 418.46 Mn.