Cashew
Nutshell Liquid Industry worth $564 million by 2027

The report "Cashew
Nutshell Liquid Market
by product (PF Resins, Epoxy Resins, Epoxy Curing Agents, Surfactants,
Polyols), application (Adhesive, Coating, Foam, Laminate, Personal Care),
Region (Asia Pacific, North America, Europe) - Global Forecast to 2027" published by MarketsandMarkets.

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Browse in-depth TOC on "Cashew Nutshell Liquid Market"

99 - Tables

38 - Figures

135 – Pages

The CNSL market size is
estimated to be USD 393 million in 2022 and is projected to reach USD 564
million by 2027, at a CAGR of 7.5% between 2022 and 2027. Increasing demand
from the chemical and petrochemical industries, the rising demand for natural
resources for various applications are significantly driving the market
globally.

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Epoxy curing agents segment accounted for the largest
share of the cashew nutshell liquid market in 2021.

Epoxy curing agents are required in different chemistries
in a broad range of applications. Coating manufacturers use epoxy curing agents
in several areas such as industrial, marine, protective coatings,
transportation, and flooring applications. Adhesives manufacturers uses
solutions for structural, building and construction, automotive and electronic
systems. Low viscosity, solvent free epoxy curing agents are used in composite
applications as well. The faster curing time of epoxy primers reduces downtime
and increases productivity. CNSL-based epoxy curing agents provide great
protection. Other CNSL-based epoxy curing agents provide excellent corrosion
protection.

Coatings is projected to be the largest segment of cashew
nutshell liquid market during the forecast period.

CNSL is cured and polymerized to provide resins that act
as high-quality coating materials. These resins are utilized for anti-corrosive
protective coatings. The most crucial application is in marine vessels and
finishing boat coatings. These CNSL-based coatings are used in chemical
factories to protect the machinery and equipment from corrosion and
deterioration.

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Europe is the largest cashew nutshell liquid market in
the forecast period.

The CNSL market in Europe is segmented into Germany,
France, the UK, Italy, the Netherlands, and Rest of Europe. The chemical
industry is a significant part of the region’s economy. The growth is driven by
investments made in this region by global chemical companies. Though the steady
European economic recovery is expected to drive the market, the adoption of
several strict regulations against the use of petroleum-based products is
likely to challenge the market growth in the region.

The key market players are
cardolite company (U.S.A), pelmer international (U.S.A), senesel (Poland), sri
devi group (India).

Cardolite Corporation is a manufacturer of CNSL-based
products used in coatings, friction materials, adhesives, composites, and
foams. The company is the leader in the production of quality CNSL-based
materials. Cardolite delivers high-quality products and services across the
globe and has sales offices, representatives, and distribution facilities in
the Americas, Europe, and Asia.

Palmer International is a global leader in CNSL
technology. The company provides polyols, chemicals, friction particles, and
resins to automotive, transport, construction, and other industries worldwide.
It is the world’s oldest producer of cashew derivatives and a leader in
developing OEM friction particles. The company is the world’s leading producer
of cashew-manic polyols and epoxy hardener chemistry.

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