North America Cashew Nutshell Liquid Market Trends and Revenue Forecast
The Cashew Nutshell Liquid Market is emerging as a pivotal component of the bio-based chemical industry. Estimated at USD 454.7 million in 2024 , the market is forecasted to reach USD 995.0 million by 2034 , growing at a remarkable CAGR of 8.1% during the forecast period. While most discussions around cashew nutshell liquid (CNSL) focus on its traditional use in friction linings and resins, a lesser-explored application is transforming its future growth trajectory—its role in sustainable coatings. As industries transition toward eco-friendly alternatives, CNSL-based coatings offer a unique blend of performance and environmental compliance, positioning them as a disruptive force in the coatings sector. Market Context Cashew nutshell liquid is a natural phenolic compound extracted from the shell of cashew nuts. It contains versatile components such as cardanol, cardol, and anacardic acid , which enable its application across multiple sectors, including automotive, adhesives, and p...