Cashew Nut Shell Liquid (CNSL) Market Size Growth Analysis 2022
The global 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 nutshell liquid (CNSL), a key cashew industry by-product, is extracted from the cashew shell. The nut is enclosed in a 1/8-inch-thick shell, a soft honeycomb structure containing a viscous dark reddish-brown liquid. The liquid cashew nut shell, or cashew nut per carp fluid, is what it's called. Paint and varnish makers are known to use CNSL resins in synthetics to regulate characteristics and cut costs. Its antimicrobial, acid-resistant, and rust-proof characteristics are well-known, and it is commonly used to protect boat hulls from the elements. Because of its dark colour, it can only be found in anti-corrosion primers, black enamels, and maritime paints.
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During the projected period, the Cashew Nut Shell Liquid (CNSL) Market is expected to increase at a CAGR of 7.2 percent, from USD 297.1 million in 2020 to USD 525.7 million in 2028. The market is largely driven by rising demand for laminating resins, epoxy resins, cashew cements, and rubber compounding resins, as well as foundry chemicals and certain other industrial applications. Cashew nutshell liquid (CNSL), a key cashew industry by-product, is extracted from the cashew shell. The nut is enclosed in a 1/8-inch-thick shell, a soft honeycomb structure containing a viscous dark reddish brown liquid. The liquid cashew nut shell, or cashew nut per carp fluid, is what it's termed. Recent study has revealed that CNSL constituents have unique structural properties for the transformation of high-value specialty chemicals and polymers. With the chemical transformation, this entails enhancing value by many orders of magnitude and giving 100 percent chemically pure products. As a result, CNSL offers a wide range of speciality chemicals, high-value goods, and polymers to be created.
The global cashew nut shell liquid (cnsl) market segmentation:
- By Type: Raw Cashew Nut Shell Liquid and Technical Cashew Nut Shell Liquid (TCNSL)
- By Application: Friction Linings, Paints and Varnishes, Laminating Resins, Rubber Compounding Resins, Cashew Cements, and Polyurethane based Polymers, Surfactants, Epoxy Resins, Foundry Chemicals, and Others
- By End User: Coating Industry, Automotive Industry, Fuel Industry, Leather Industry, Tobacco Curing Industry, Others
North America's market is predicted to grow at a CAGR of 7.0 percent from 2016 to 2028, reaching USD 172.2 million. North American cashews have less selenium than cashews cultivated in tropical areas. The United States and Canada account for the majority of regional cashew demand. Because cashew is not a large crop in the region, the countries here rely on market demand from Africa, Brazil, and India to supply their needs. The United States remains the largest importer of CNSL manufactured in India, with Brazil being another important exporter to the United States.
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Some of the major key players in the Cashew Nut Shell Liquid (CNSL) Market are 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)
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