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Description
Cashew Nut Shell Liquid (CNSL) Market size was valued at USD 403.7 million in 2021 and is poised to grow at a significant CAGR of over 2022–2028. 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.
