The growth of the market is driven by the increasing demand from applications like laminating resins, epoxy resins, cashew cements & rubber compounding resins.
NEW YORK CITY, NY, UNITED STATES, August 30, 2021 /EINPresswire.com/ — The global Cashew Nut Shell Liquid (CNSL) market report is an exhaustive analysis of the chemicals and materials industry and offers key insights into the market dynamics, drivers, restraints, current and emerging trends, and growth opportunities in the market. The report provides an accurate estimation of the market size in terms of value and volume. The market size and share has been estimated and validated by implementing both top-down and bottom-up approaches. The Global Cashew Nut Shell Liquid (CNSL) Market report gives a holistic view of the prevalent trends in the industry, market valuation, and the leading vendors to help the readers assess the products and services, hence realizing their revenue generation goals and cost-effectiveness of their investment.
The Cashew Nut Shell Liquid (CNSL) Market is forecast to grow from USD 298.1 Million in 2020 to USD 520.7 Million by 2028, at a CAGR of 7.3%, during the forecast period. The market is primarily driven by the increasing demand from innumerable applications, such as laminating resins, epoxy resins, cashew cements and rubber compounding resins, foundry chemicals and other industrial applications. 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.
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Furthermore, the report offers in-depth scrutiny of the key market elements, such as drivers, constraints, opportunities, limitations, threats, and micro and macro-economic factors. The exhaustive SWOT analysis, Porter’s Five Forces analysis, feasibility analysis, and investment return analysis have also been included in the report. Strategic recommendations for the new and established market players are intended to assist them in fortifying their financial positions in the Cashew Nut Shell Liquid (CNSL) market.
COVID-19 Impact Assessment:
The latest report sums up the major changes in the global business sector that took place as a repercussion of the COVID-19 outbreak. Having impacted the global Cashew Nut Shell Liquid (CNSL) market in an unfavorable manner, the pandemic has significantly disrupted the market dynamics and trends. The public health emergency adversely affected the global supply chains and resulted in acute volatility in product prices and demand. However, industry experts believe that the global Cashew Nut Shell Liquid (CNSL) market will regain traction in the post-COVID scenario. The report also offers a broad assessment of the pandemic’s preliminary and future impacts on this lucrative market.
An essential component of the report is the detailed study of the geographical outlook of the global Cashew Nut Shell Liquid (CNSL) market. The global Cashew Nut Shell Liquid (CNSL) market is categorized into several key geographical regions, including North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. In this section of the report, the authors have meticulously analyzed the regional market share, market size, revenue contribution, sales network, distribution channels, and numerous other aspects.
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The leading contenders in the global Cashew Nut Shell Liquid (CNSL) market are:
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).
Type (Kilo Tons) (Revenue, USD Million; 2018-2028)
Raw Cashew Nut Shell Liquid
Technical Cashew Nut Shell Liquid (TCNSL)
Application (Kilo Tons) (Revenue, USD Million; 2018-2028)
Paints and Varnishes
Rubber Compounding Resins
Polyurethane based Polymers
Further key findings from the report suggest
The Cashew Nut Shell Liquid (CNSL) Market is forecasted to grow from USD 298.1 Million in 2020 to USD 520.7 Million by 2028, at a CAGR of 7.3%, 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 2028, 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 2028, 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.
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