Reports and Data’s latest industry analysis report titled ‘Global Cashew Nut Shell Liquid (CNSL) Market’ provides the reader with an exhaustive overview of the Cashew Nut Shell Liquid (CNSL) industry. The report is inclusive of a concise market summary and contains market projections based on the present market situation, current market size, and revenue growth rate. The report elaborates on the key market dynamics including market growth drivers, opportunities, threats, and challenges. In this report, market analysts at Reports and Data have emphasized the ever-changing market growth patterns and the dynamic environment of the industry. Key attractions of the report include List of Tables and Figures, Research Methodology, Competitive Landscape, Regional Analysis, Technological Breakthroughs, and Future Market Developments.
The cashew shell is used to extract cashew nutshell liquid (CNSL), a major cashew industry by-product. The nut is inside a shell about 1/8-inch-thick, a soft honeycomb structure that contains a dark reddish brown viscous liquid. It is called the liquid cashew nut shell, which is the cashew nut per carp fluid.
Recent research has shown that CNSL constituents have special structural features for transformation of specialty chemicals and polymers of high value. This involves adding value to many orders of magnitude and providing 100% chemically pure products with the chemical transformation. CNSL therefore offers vast scope and opportunities for specialty chemicals, high-value products and polymers to be produced.
The report’s ‘COVID-19 Impact Study’ section focuses on the profound impact of the global pandemic on the materials chemicals market, throwing light on the key challenges the industry players are currently facing. The report further analyzes other crucial aspects of the market, such as product pricing structure, product portfolios, end-use industries, sales statistics, distribution channels, and upcoming industry trends. Moreover, the report provides actionable insights into the industry’s highly competitive scenario and profiles the top companies operating in the industry, along with their extensive product portfolios.
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Top Companies Profiled in the Report: K2P Chemicals (India), Sri Devi Group (India), K Subraya Anantha Kamath and Sons (India), Muskaan (India), Senesel (India), Shivam Cashew Industry (India), Cardolite (India), Palmer International (India) and Olam Agro India Pvt. Ltd (India).
Further key findings from the report suggest
- The Cashew Nut Shell Liquid (CNSL) Market is forecasted to grow from USD 319.6 Million in 2021 to USD 590.2 Million by 2030, at a CAGR of 7.1%, during the forecast period. The market is primarily driven by the increasing demand from a variety of applications, such as laminating resins, epoxy resins, cashew cements and rubber compounding resins, foundry chemicals and other industrial applications.
- The market for paint and varnishes is expected to reach USD 54.0 Million in 2030, at a CAGR of 8.4% during the forecast period. It is widely known that paint/varnish manufacturers are adding CNSL resin to synthetics to control properties and reduce costs. Its anti-microbial, acid-resistant and rust-proof properties are well known and are used to protect the boat hulls from the bottom. Its outlets are limited to anticorrosion primers, black enamels, and marine paints, among others due to its dark color.
- The market for corrosion industry is estimated to reach USD 8.2 Million in 2030, at a CAGR of 7.2% during the forecast period. Corrosion factors are increasing due to different types of pollution. Prevention of corrosion is therefore of paramount importance in daily activities. This oil is available as a by-product in abundance from the cashew industry. CNSL is treated and polymerized to produce resins that act as good materials for coating. These resins are used in protective coverings that are anti-corrosive.
- The market for North America is expected to reach USD 171.2 Million in 2030, at a CAGR of 8.0% during the forecast period. Compared to cashews grown in tropical regions, North American cashews contain less selenium. Most of the regional cashew demand comes from the U.S. and Canada. Because the region is not producing cashew as a major crop, the countries here are meeting their market demand from Africa, Brazil, and India. The U.S. continues to be the largest buyer of CNSL produced in India, and Brazil is another major exporter supplying the U.S.
Major Factors Driving the Global Cashew Nut Shell Liquid (CNSL) Market Revenue Growth Revenue growth of the global materials chemicals industry is primarily driven by factors such as rapid industrialization and substantially growing demand for chemicals materials various industries including pharmaceutical, food beverage, oil gas, personal care cosmetics, pulp paper, textile, and manufacturing industries. Growing environmental awareness, increasing use of environmentally sustainable chemicals and raw materials, technological advances in manufacturing techniques, growing use of organic industrial chemicals, and rising need for high-performance specialty chemicals are other factors driving market revenue growth.
Regional Outlook
The key regions covered in the report are as follows:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- The Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Type Outlook (Revenue, USD Million; 2019-2030)
- Raw Cashew Nut Shell Liquid
- Technical Cashew Nut Shell Liquid
Application Outlook (Revenue, USD Million; 2019-2030)
- Friction Linings
- Laminating Resins
- Paints and Varnishes
- Adhesives
- Industrial Coating
- Rubber Compounding Resins
- Aldehyde Resins
- Binders
- Others
End-Use Outlook (Revenue, USD Million; 2019-2030)
- Coating Industry
- Automotive Industry
- Paint Industry
- Polymer Industry
- Pharmaceutical Industry
- Others
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Table of Contents:
- Report Overview
1.1 Research Scope
1.2 Key Cashew Nut Shell Liquid (CNSL) market segments
1.3 Major players
1.4 Market analysis by product type
1.5 Market analysis by application
1.6 Report timeline
- Global Growth Trends
2.1 Global Cashew Nut Shell Liquid (CNSL) market size
2.2 Latest regional market trends
2.3 Emerging growth trends
- Competitive Outlook
3.1 Global Cashew Nut Shell Liquid (CNSL) market key players
3.2 Global Cashew Nut Shell Liquid (CNSL) size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Cashew Nut Shell Liquid (CNSL) market
3.5 Mergers, acquisitions, joint ventures, and other strategic alliances
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