The Cashew Nutshell Liquid Market Size was valued at USD 4.0 billion in 2023, and expected to reach USD 7.3 billion by 2031, and grow at a CAGR of 7.6% over the forecast period 2024-2031.
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.
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Drivers:
Increasing demand for personal care industry.
Restraints:
The raw material prices are volatile.
Availability of raw materials.
Opportunity:
Development of innovative products.
Increasing demand of sustainable green products and bio-based.
Challenge:
Substitutes are available.
Developing CNSL manufacturing technology.
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.
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
Fuel Industry
Leather Industry
Tobacco Curing Industry
Others
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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.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The 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
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.
Report Attributes | Details |
---|---|
Market Size in 2023 | US$ 4.0 Billion |
Market Size by 2031 | US$ 7.3 Billion |
CAGR | CAGR of 7.6% From 2024 to 2031 |
Base Year | 2023 |
Forecast Period | 2024-2031 |
Historical Data | 2020-2022 |
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 4.0 billion in 2023, and expected to reach USD 7.3 billion by 2031, and grow at a CAGR of 7.6 % over the forecast period 2024-2031.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 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
8.3 Surfactants
8.4 Phenol-Formaldehyde (PF) Resins
8.5 Friction Materials
8.6 Polyols & NCO Blocking Agents
8.7 Others
9. Cashew Nutshell Liquid Market Segment, By Application
9.1 Personal Care
9.2 Adhesives
9.3 Friction Linings
9.4 Laminates
9.5 Foams & Insulation
9.6 Coatings
9.7 Others
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
10.6 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company Profile
12.1 Olam Agro India Pvt. Ltd
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Senesel
12.3 CIONE
12.4 KSA Kamath and Sons
12.5 K2P Chemicals
12.6 Sri Devi Group
12.7 Muskaan
12.8 Shivam Cashew Industry
12.9 Cat Loi
12.12 LC BUFFALO
12.12 Son Chau
13.Competitive Landscape
13.1 Competitive Benchmark
13.2 Market Share analysis
13.3 Recent Developments
14. Conclusion
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