Report Scope & Overview:
Cashew Nutshell Liquid Market Size was valued at USD 3.76 billion in 2022, and expected to reach USD 6.76 billion by 2030, and grow at a CAGR of 7.6% over the forecast period 2023-2030.
Cashew nut shell liquid (CNSL) is a byproduct of the cashew industry that serves several functions. The nut has a 1/8-inch-thick shell with a soft honeycomb structure inside that contains a dark reddish brown viscous liquid. CNSL goes through all of the typical phenol reactions, including CNSL aldehyde condensation products and CNSL-based phenolics. Resins are used in a variety of applications, including surface coatings and adhesives. CNSL-derived polyamines are used as curing agents for epoxy resins. CNSL and its derivatives have been used as antioxidants, plasticizers, and processing aids for rubber compounds, plastic material modifiers, and to provide oxidative resistance to sulphur-cured natural rubber products. It is also added to rubber gum stock or nitrile rubber to improve the vulcanisates' processability, mechanical properties, and resistance to crack and cut. As a result, the growing use of CNSL as an alternative to unsaturated phenols is expected to drive the global cashew nut shell liquid (CNSL) market during the forecast period.
Increasing demand for personal care industry.
The raw material prices are volatile.
Availability of raw materials.
Development of innovative products.
Increasing demand of sustainable green products and bio-based.
Substitutes are available.
Developing CNSL manufacturing technology.
Impact of Covid-19:
COVID-19 had a negative impact on the cashew value chain because it disrupted the distribution channel, which tends to lower the market end-products of cashew nuts. West African producers suffered losses because they were unable to export cashew to Vietnam and India for processing due to the lockdown and disrupted transportation systems. The delay in collection and shipment reduced the overall kernel supply even more.
Senesel, KSA Kamath and Sons, Muskaan, Shivam Cashew Industry, Sri Devi Group, Cat Loi, LC BUFFALO, CIONE, Cardolite, K2P Chemicals, Golden Cashew Products, Adarsh Industrial Chemicals, C.Ramakrishna Padayatchi, , Son Chau Olam Agro India Pvt. Ltd, and other players.
Epoxy Curing Agents
Epoxy Modifiers & Resins
Phenol-Formaldehyde (PF) Resins
Polyols & NCO Blocking Agents
Foams & Insulation
By End User Industry:
Tobacco Curing Industry
In recent years, the cashew kernel market has seen a rapid shift in consumption patterns across North America and Asia-Pacific, owing primarily to assorted cashew products occupying a larger share of the retail market space. The Asia-Pacific region is the largest consumer, with rising demand for cashew kernels in daily diets and healthy ready-to-eat snacks. The high penetration rate of cashew-based retail manufacturers in developed and emerging markets, as well as the successful implementation of cashew production and processing initiatives in Africa, are expected to drive the global cashew kernel market during the forecast period.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|Market Size in 2022||US$ 3.76 Billion|
|Market Size by 2030||US$ 6.76 Billion|
|CAGR||CAGR of 7.6% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Type (Epoxy Curing Agents, Epoxy Modifiers & Resins, Surfactants, Phenol-Formaldehyde (PF) Resins, Friction Materials, Polyols & NCO Blocking Agents, Others)
• By Application (Personal Care, Adhesives, Friction Linings, Laminates, Foams & Insulation, Coatings, Others)
• By End User Industry (Coating Industry, Automotive Industry, Fuel Industry, Leather Industry, Tobacco Curing Industry, Others)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Senesel, KSA Kamath and Sons, Muskaan, Shivam Cashew Industry, Sri Devi Group, Cat Loi, LC BUFFALO, CIONE, Cardolite, K2P Chemicals, Golden Cashew Products, Adarsh Industrial Chemicals, C.Ramakrishna Padayatchi, , Son Chau Olam Agro India Pvt. Ltd, and other players.|
|DRIVERS||• Increasing demand for personal care industry.|
|Restraints||• The raw material prices are volatile.
• Availability of raw materials.
Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.
Ans: Epoxy Curing Agents, Epoxy Modifiers & Resins, Surfactants, Phenol, Formaldehyde (PF) Resins, Friction Materials, Polyols & NCO Blocking Agents, And Others are the sub-segments of by type segment.
Ans: Senesel, KSA Kamath and Sons, Muskaan, Shivam Cashew Industry, Sri Devi Group, Cat Loi, LC BUFFALO, CIONE, Cardolite, K2P Chemicals, Golden Cashew Products, Adarsh Industrial Chemicals, C.Ramakrishna Padayatchi and Son Chau Olam Agro India Pvt. Ltd
Ans: The raw material prices are volatile and Availability of raw materials are the restraints for Cashew Nutshell Liquid Market.
Ans: Cashew Nutshell Liquid Market Size was valued at USD 3.5 billion in 2021, and expected to reach USD 5.8 billion by 2028, and grow at a CAGR of 7.6 % over the forecast period 2022-2028.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
18.104.22.168 United Kingdom
22.214.171.124 South Korea
126.96.36.199 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Cashew Nutshell Liquid Market Segment, By Type
8.1 Epoxy Curing Agents
8.2 Epoxy Modifiers & Resins
8.4 Phenol-Formaldehyde (PF) Resins
8.5 Friction Materials
8.6 Polyols & NCO Blocking Agents
9. Cashew Nutshell Liquid Market Segment, By Application
9.1 Personal Care
9.3 Friction Linings
9.5 Foams & Insulation
10. Cashew Nutshell Liquid Market Segment, By End User Industry
10.1 Coating Industry
10.2 Automotive Industry
10.3 Fuel Industry
10.4 Leather Industry
10.5 Tobacco Curing Industry
11. Regional Analysis
11.2 North America
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4.2 South Korea
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.3 South Africa
11.6 Latin America
11.6.3 Rest of Latin America
12. Company Profile
12.1 Olam Agro India Pvt. Ltd
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.4 KSA Kamath and Sons
12.5 K2P Chemicals
12.6 Sri Devi Group
12.8 Shivam Cashew Industry
12.9 Cat Loi
12.12 LC BUFFALO
12.12 Son Chau
13.1 Competitive Benchmark
13.2 Market Share analysis
13.3 Recent Developments
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