Global Phloroglucinol Sales Market is Predicted to Reach US$ 17808 K by 2025

LOS ANGELES, December 12, 2019 (Newswire.com) - A new report published by QY research with accurate forecasts and in depth analysis is titled as "Global Phloroglucinol Sales Market Report 2019.” According to this report, the global Phloroglucinol Sales Market was pegged at US$ 13824 K in 2018 in terms of volume and is anticipated to reach US$ 17808 K by 2025. The global Phloroglucinol Sales market is expected to register a sluggish CAGR of 3.6% from 2019 to 2025.  

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Treatment of Digestive and Intestinal Disorders - Leading to the Growth of the Phloroglucinol Sales Market

Medical and Pharmaceutical Industry: Changing lifestyle has resulted in increasing instances of patients affected from gastro intestinal disorders such as irritable bowel syndrome, bladder spasm, gallstones, and others. This has resulted in extensive usage of phloroglucinol for the treatment of patients suffering from these disorders, which is leading to the growth of the Phloroglucinol Sales market.

Horticulture Industry: Increasing activities of horticulture has led to high demand for plant rooting solutions. For developing new plants and stimulating roots phloroglucinol is extensively being used, which is contributing to the growth of the Phloroglucinol Sales market.

However, high prices and stringent laws regarding usage of Phloroglucinol is expected to hamper the growth of the market.

Pharmaceutical and Cosmetic sector – Boosts the Growth of the Application Segment

The application segment is segregated into Adhesive resins, pharmaceuticals, and Dyeing Coupler. Phloroglucinol is an organic compound which is extensively used in treatment of involuntary muscle spasm. It is also used in pharmaceuticals and cosmetic industries. It is used in treatment of gastrointestinal disorders. In cosmetic industry, it is majorly used in hair color and hair dye, which has led to the growth of the application segment. The product type segment is bifurcated into industrial grade and pharmaceutical grade.

Asia-Pacific: Increasing Usage as Adhesive in Industrial Sector Likely to Foster the Growth of the Market

The Asia-Pacific region is witnessing rapid industrialization resulting in increasing demand for adhesive substances such as phloroglucinol that has inherent sticky property is contributing to growth of the market. Growing medical sector in the region along with increasing demand for medical procedures which include repairing, reattaching tissues for treating patients has resulted in an extensive usage of phloroglucinol derivatives, boosting the growth of the market. The region has a significant presence of textile and leather industries that have increasing usage of phloroglucinol in dyeing process, which is anticipated to propel growth of the market.

Emphasis on Drug Development and Affordability: A Key Strategy of Major Market Players

Some of the top players operating in the Phloroglucinol Sales market are Jiangsu Dingye Pharmaceuticals, Taixing Yinxin Chemical, Hebei Jianxin Chemicals, Beijing Wisdom Chemicals, Shouguang Fukang Pharmacy, Clent Chemical, and Kaifeng Mingren Pharmaceuticals.

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Source: QY Research, Inc.