Xylenols, also known as dimethylphenol, are gaining widespread recognition as an important class of phenolics with greater industrial importance. The use of this chemical compound as a pesticide is slated to increase, owing to the escalating delivery of COVID-19 relief funds to food and farm workers and the subsequent recovery of the agricultural industry.

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Citing an instance, in September 2021, the U.S. Department of Agriculture announced the availability of $700 million in funding through the FFWR (Farm and Food Workers Relief) grant program to help alleviate the impact of pandemic-related health and safety costs. These funds were intended to be offered to tribal entities, state agencies, and non-profit organizations serving farmworkers ranging from over $5 million to $50 million. Development such as these could proliferate the adoption of xylenol compounds for agricultural applications.

Another key reason behind the expansion of the xylenols market, especially during the coronavirus crisis, is the burgeoning consumption of hygiene products worldwide. At the peak of the pandemic, for instance, products like Clorox Wipes became a highly sought-after hygiene solution, which could have triggered a rise in the use of chloro xylenols due to their disinfecting and antiseptic properties.

Increasing pharma research spending and agricultural financing programs

Among other product types, 2,6 xylenols are becoming more and more popular, given their extensive application scope as a chemical intermediate for pharmaceuticals, agrochemicals, and plastics, and as a solvent. According to a Global Market Insights Inc. report, the 2,6 xylenols industry is anticipated to be valued at more than $1 billion by 2027.

The COVID-19 pandemic has opened opportunities for the pharmaceutical industry, especially in India, to emerge as a viable source of finished products and raw materials after China. Due to this positive growth trajectory, key pharma vendors in India unveiled plans to boost research spending over the next 5 years as the industry eyes a $130 billion turnover over the next 10 years. Factors like these could lead to the escalating usage of xylenols, which demonstrate strong potential as a pharmaceutical intermediate.

In response to the increasing food insecurity caused by COVID-19 and climate change, agricultural financing platforms are also continuing to offer grants to low-income countries worldwide. For instance, in December 2021, the GAFSP (Global Agriculture and Food Security Program) announced $121 million in grants for 9 national governments and an additional $30 million allocated for producer organizations in 12 countries worldwide. This funding, which was initiated to create stronger, resilient, and sustainable food systems, is one of the factors contributing to the growing demand for products like xylenols in the agrochemical industry, where efficient crop production has become the need of the hour.

Strong focus on oil exploration and outpatient procedure improvement strategies in Latin America

Over the years, petroleum industry companies have been focusing on driving crude oil exploration and production, especially in Latin America. For example, Brazil-based Petrobras outlined investments worth $68 billion between 2022-2026, a hike from $55 billion under the previous 5-year plan. About 84% of the spending was aimed at the exploration and production of crude oil. Moreover, the development of the Buzios Oil Field in the subsalt frontier was intended to push crude oil output to over 2.6 million b/d by 2026, thus amplifying the potential of xylenols for use in oilfield chemicals.

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In addition, leading platforms for medical procedures and surgeries in Latin America are targeting to deliver support to outpatient and ambulatory clinics, the center of out-of-pocket spending. For instance, in March 2022, Tani secured $700K in a funding round to support surgeons in their growth and enhance medical procedures in general.

Since chloroxylenol has demonstrated strong potential as a disinfectant and antiseptic agent for surgical instruments, the expansion of medical procedures in Latin America could create a strong growth trajectory for the xylenols market in years to come.

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