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Cashew Nut Shell Liquid Market: By Type ), By Application, By End User and By Geography
Cashew Nut Shell Liquid Market: By Type ), By Application, By End User and By Geography
Cashew Nut Shell Liquid (CNSL) Market size was valued at US$ 403.7 million in 2022 and is poised to grow at a significant CAGR of over 2023-2029. Cashew Nut Shell Liquid (CNSL) is a by-product of the cashew industry that can be used for various purposes. According to recent research, CNSL constituents have unique structural properties that make them ideal for transforming high-value specialty chemicals and polymers. The chemical transformation entails enhancing value by many orders of magnitude and giving 100% chemically pure products. As a result, CNSL offers a wide range of specialty chemicals, high-value goods, and polymers to be created. Improving agricultural income Increasing investment in research and development activities creates market opportunities. To generate opportunities in the Cashew Nut Shell Liquid (CNSL) Market, market players should include digitally linked processes and focus on operational efficiency, diversifying supply sources, and cost control. The rising trend in the Cashew Nut Shell Liquid (CNSL) Market is to customize products to cater to a specific application rather than improving product features as a whole. The effective strategies in the future Market are investing in innovation, discovering emerging applications of CNSL, and implementing smart business models to produce sustained growth. This future demand is expected to be fueled by the increasing use of the CNSL as a stabilizing agent in disk pad brakes and drum linings.
Study Period
2024-2030Base Year
2023CAGR
6.9%Largest Market
North-AmericaFastest Growing Market
North-America
CNSL performs all of the typical phenol reactions, and CNSL aldehyde condensation products and CNSL-based phenolic resins are employed in various applications, including surface coatings and adhesives. CNSL is utilized to make a variety of polyamines that are employed as curing agents for epoxy resins. CNSL and its derivatives have been employed as antioxidants, plasticizers, and processing aids for rubber compounds, as well as modifiers for plastic materials and in sulfur-cured natural rubber goods to give oxidative resistance. Also, It is added to rubber gum stock or nitrile rubber to increase the vulcanisates processability, mechanical characteristics, and fracture and cut resistance. As a result of the growing use of CNSL as a substitute for unsaturated phenols, the global Cashew Nut Shell Liquid (CNSL) market is expected to grow. However, the market's expansion is hampered by the volatility of raw material costs and the inconsistent availability of raw materials.
The Cashew Nut Shell Liquid (CNSL) market in North America is likely to hold the highest revenue share of 29.7% in 2021, and in the following years, it is predicted to increase rapidly. Because of increased demand for the CNSL from end-user industries in the North American region. The Asia Pacific region dominated the global cashew nut shell liquid (CNSL) market due to the ready availability of the raw material, the presence of well-developed end-user industries, and increased demand for CNSL as an alternative to unsaturated phenols.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2022 |
US$ 403.7 million |
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Market CAGR |
6.9% |
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By Type |
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By Application |
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By End User |
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By Region |
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The cashew nut shell liquid (CNSL) market is projected to expand at a CAGR of 6.9% during the forecast period
Muskaan Group (India), Cardolite Corporation (New Jersey), Senesel (Poland), Palmer International, Inc. (US), K Subraya Anantha Kamath & Sons (India), Sri Devi Group (India), Shivam Cashew Industry (India), K2P Chemicals (India)
North America is the fastest-growing region for cashew nut shell liquid (CNSL) market
| 1.Executive Summary |
| 2.Global Cashew Nut Shell Liquid (CNSL) Market Introduction |
| 2.1.Global Cashew Nut Shell Liquid (CNSL) Market - Taxonomy |
| 2.2.Global Cashew Nut Shell Liquid (CNSL) Market - Definitions |
| 2.2.1.Type |
| 2.2.2.Application |
| 2.2.3.End User |
| 2.2.4.Region |
| 3.Global Cashew Nut Shell Liquid (CNSL) Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Cashew Nut Shell Liquid (CNSL) Market Analysis, 2018-2022 and Forecast 2023-2029 |
| 4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Cashew Nut Shell Liquid (CNSL) Market By Type, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 5.1. Raw Cashew Nut Shell Liquid |
| 5.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Technical Cashew Nut Shell Liquid |
| 5.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 6.Global Cashew Nut Shell Liquid (CNSL) Market By Application, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 6.1. Friction Linings |
| 6.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Paints and Varnishes |
| 6.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Laminating Resins |
| 6.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Rubber Compounding Resins |
| 6.4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Cashew Cements |
| 6.5.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 6.6. Polyurethane based Polymers |
| 6.6.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 6.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.6.3. Market Opportunity Analysis |
| 6.7. Surfactants |
| 6.7.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 6.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.7.3. Market Opportunity Analysis |
| 6.8. Epoxy Resins |
| 6.8.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 6.8.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.8.3. Market Opportunity Analysis |
| 6.9. Foundry Chemicals |
| 6.9.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 6.9.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.9.3. Market Opportunity Analysis |
| 6.10. Others |
| 6.10.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 6.10.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.10.3. Market Opportunity Analysis |
| 7.Global Cashew Nut Shell Liquid (CNSL) Market By End User, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 7.1. Coating Industry |
| 7.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Automotive Industry |
| 7.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Fuel Industry |
| 7.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Leather Industry |
| 7.4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Tobacco Curing Industry |
| 7.5.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 7.6. Others |
| 7.6.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 7.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.6.3. Market Opportunity Analysis |
| 8.Global Cashew Nut Shell Liquid (CNSL) Market By Region, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Asia Pacific (APAC) |
| 8.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Middle East and Africa (MEA) |
| 8.4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Latin America |
| 8.5.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 9.North America Cashew Nut Shell Liquid (CNSL) Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 9.1. Type Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Raw Cashew Nut Shell Liquid |
| 9.1.2.Technical Cashew Nut Shell Liquid |
| 9.2. Application Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Friction Linings |
| 9.2.2.Paints and Varnishes |
| 9.2.3.Laminating Resins |
| 9.2.4.Rubber Compounding Resins |
| 9.2.5.Cashew Cements |
| 9.2.6.Polyurethane based Polymers |
| 9.2.7.Surfactants |
| 9.2.8.Epoxy Resins |
| 9.2.9.Foundry Chemicals |
| 9.2.10.Others |
| 9.3. End User Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Coating Industry |
| 9.3.2.Automotive Industry |
| 9.3.3.Fuel Industry |
| 9.3.4.Leather Industry |
| 9.3.5.Tobacco Curing Industry |
| 9.3.6.Others |
| 9.4. Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.4.1.United States of America (USA) |
| 9.4.2.Canada |
| 10.Europe Cashew Nut Shell Liquid (CNSL) Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 10.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Raw Cashew Nut Shell Liquid |
| 10.1.2.Technical Cashew Nut Shell Liquid |
| 10.2. Application Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Friction Linings |
| 10.2.2.Paints and Varnishes |
| 10.2.3.Laminating Resins |
| 10.2.4.Rubber Compounding Resins |
| 10.2.5.Cashew Cements |
| 10.2.6.Polyurethane based Polymers |
| 10.2.7.Surfactants |
| 10.2.8.Epoxy Resins |
| 10.2.9.Foundry Chemicals |
| 10.2.10.Others |
| 10.3. End User Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.Coating Industry |
| 10.3.2.Automotive Industry |
| 10.3.3.Fuel Industry |
| 10.3.4.Leather Industry |
| 10.3.5.Tobacco Curing Industry |
| 10.3.6.Others |
| 10.4. Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1.Germany |
| 10.4.2.France |
| 10.4.3.Italy |
| 10.4.4.United Kingdom (UK) |
| 10.4.5.Spain |
| 10.4.6.Rest of EU |
| 10.4.7. |
| 11.Asia Pacific (APAC) Cashew Nut Shell Liquid (CNSL) Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 11.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Raw Cashew Nut Shell Liquid |
| 11.1.2.Technical Cashew Nut Shell Liquid |
| 11.2. Application Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Friction Linings |
| 11.2.2.Paints and Varnishes |
| 11.2.3.Laminating Resins |
| 11.2.4.Rubber Compounding Resins |
| 11.2.5.Cashew Cements |
| 11.2.6.Polyurethane based Polymers |
| 11.2.7.Surfactants |
| 11.2.8.Epoxy Resins |
| 11.2.9.Foundry Chemicals |
| 11.2.10.Others |
| 11.3. End User Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.Coating Industry |
| 11.3.2.Automotive Industry |
| 11.3.3.Fuel Industry |
| 11.3.4.Leather Industry |
| 11.3.5.Tobacco Curing Industry |
| 11.3.6.Others |
| 11.4. Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1.China |
| 11.4.2.India |
| 11.4.3.Australia and New Zealand (ANZ) |
| 11.4.4.Japan |
| 11.4.5.Rest of APAC |
| 12.Middle East and Africa (MEA) Cashew Nut Shell Liquid (CNSL) Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 12.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Raw Cashew Nut Shell Liquid |
| 12.1.2.Technical Cashew Nut Shell Liquid |
| 12.2. Application Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Friction Linings |
| 12.2.2.Paints and Varnishes |
| 12.2.3.Laminating Resins |
| 12.2.4.Rubber Compounding Resins |
| 12.2.5.Cashew Cements |
| 12.2.6.Polyurethane based Polymers |
| 12.2.7.Surfactants |
| 12.2.8.Epoxy Resins |
| 12.2.9.Foundry Chemicals |
| 12.2.10.Others |
| 12.3. End User Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Coating Industry |
| 12.3.2.Automotive Industry |
| 12.3.3.Fuel Industry |
| 12.3.4.Leather Industry |
| 12.3.5.Tobacco Curing Industry |
| 12.3.6.Others |
| 12.4. Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1.GCC Countries |
| 12.4.2.South Africa |
| 12.4.3.Rest of MEA |
| 13.Latin America Cashew Nut Shell Liquid (CNSL) Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 13.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1.Raw Cashew Nut Shell Liquid |
| 13.1.2.Technical Cashew Nut Shell Liquid |
| 13.2. Application Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1.Friction Linings |
| 13.2.2.Paints and Varnishes |
| 13.2.3.Laminating Resins |
| 13.2.4.Rubber Compounding Resins |
| 13.2.5.Cashew Cements |
| 13.2.6.Polyurethane based Polymers |
| 13.2.7.Surfactants |
| 13.2.8.Epoxy Resins |
| 13.2.9.Foundry Chemicals |
| 13.2.10.Others |
| 13.3. End User Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1.Coating Industry |
| 13.3.2.Automotive Industry |
| 13.3.3.Fuel Industry |
| 13.3.4.Leather Industry |
| 13.3.5.Tobacco Curing Industry |
| 13.3.6.Others |
| 13.4. Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1.Brazil |
| 13.4.2.Mexico |
| 13.4.3.Rest of LA |
| 14. Competition Landscape |
| 14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 14.2.1.Muskaan Group (India) |
| 14.2.2.Cardolite Corporation (New Jersey) |
| 14.2.3.Senesel (Poland) |
| 14.2.4.Palmer International, Inc. (US) |
| 14.2.5.K Subraya Anantha Kamath & Sons (India) |
| 14.2.6.Sri Devi Group (India) |
| 14.2.7.Shivam Cashew Industry (India) |
| 14.2.8.K2P Chemicals (India) |
| 15. Research Methodology |
| 16. Appendix and Abbreviations |
Key Market Players
Author
Sravani is a proficient Business Analyst with an MBA and a background in Computer Science, with seven years of experience in the field of market research. Sravani is adept at creating competitive evaluations, precise market estimations, and market projections, emphasizing the food and beverage and information and communication technology (ICT) industries. Her areas of competence are identifying important players, projecting market trends, and assessing the potential for industry growth. She applies a strong analytical approach to provide precise market estimates and thorough industry analysis, empowering organizations to make data-driven decisions. Sravani's estimating and forecasting abilities are essential for businesses to take advantage of new opportunities and effectively manage dynamic market environments.