Phenol market - Phenol is a pungent natural mixture with the molecular formula C6H5OH and is also known as carbolic acid. Phenol is a chemical solvent extensively used in various places, such as chemistry, biology, and medical laboratories. Moreover, phenol exists in numerous consumer products that are swallowed or rubbed onto several body parts. These commodities include creams, ear and nose drops, cold sore lotions, mouthwashes, gargles, throat lozenges, and antiseptic lotions.