Bisphenol A market

The Bisphenol A Market Is Estimated To Witness High Growth Owing To Increasing Demand from Polycarbonate and Epoxy Resin Industries

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The Bisphenol A market is estimated to be valued at US$ 7.61 Mn in 2023 and is expected to exhibit a CAGR of 8.3% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Bisphenol A or BPA is an organic synthetic compound with two hydroxyphenyl groups, used primarily to make polycarbonate plastics and epoxy resins. It is used as a monomer in the production of polycarbonate plastics as well as epoxy and sulfone resins. These plastics and resins have applications across various end-use industries such as electrical and electronics, healthcare, automotive and consumer goods.

Market Dynamics:
Increasing demand for polycarbonate plastic from electrical & electronics and consumer goods industries is expected to drive the growth of bisphenol A market over the forecast period. Polycarbonate plastic made from bisphenol A have high impact strength, heat resistance and dimensional stability compared to other plastics. They are extensively used in manufacturing of LCD screens, compact discs, lenses, and protective coatings. Additionally, increasing use of epoxy resins in automotive, aerospace, marine, industrial, and construction industries is also propelling the market growth. Epoxy resins derived from bisphenol A exhibit high chemical and heat resistance, good mechanical strength and are lightweight. However, the toxicity issues associated with bisphenol A may hinder the market growth.

SWOT Analysis

Strength: Bisphenol A has wide range of applications in various industries such as food and beverage packaging, consumer goods, building and construction. The growing demand for consumer goods boost the bisphenol A market. The growing electronics industry fuels the demand for bisphenol A as it is used in manufacturing various electronic components.

Weakness: Stringent regulations regarding the usage of bisphenol A due to its possible adverse health effects may hamper the growth of the market. Development of alternatives to bisphenol A poses a threat to the growth of bisphenol A market.

Opportunity: Growing demand for polycarbonate plastics from emerging economies of Asia Pacific acts as an opportunity. Increasing application of bisphenol A in various thermoset plastics and epoxy resins would provide opportunity for market growth.

Threats: rise in crude oil prices may increase the cost of bisphenol A. Growing awareness regarding health hazards of bisphenol A based products among consumers poses a major threat.

Key Takeaways:

The global Bisphenol A Market Size is expected to witness high growth, exhibiting CAGR of 8.3% over the forecast period, due to increasing demand for polycarbonate plastics from various end use industries such as consumer goods, electrical and electronics, building and construction. Polycarbonate plastics find wide application in food and beverage packaging, CDs and DVDs, bullet-proof arms and safety equipment due to their durable and lightweight properties. This rising demand acts as a major driver for the bisphenol A market.

Regional analysis: Asia Pacific dominates the global bisphenol A market and is expected to continue its dominance over the forecast period. This is attributed to large polycarbonate consumption in China, Taiwan and South Korea. China represents the largest producer and consumer of bisphenol A globally. India is also expected to showcase significant growth owing to the growth of packaging, construction and automotive industries in the country.

Key players: Key players operating in the bisphenol A market are Chang Chun Group, Covestro AG, Dow, Hexion, Kumho P&B Chemicals Inc., LG Chem, Lihuayi Weiyuan Chemical Co. Ltd, Merck KGaA, Mitsubishi Chemical Corporation, Mitsui Chemicals Corporation., Nan Ya Plastics Industry Co. Ltd, Nantong Stars Synthetic Material Ltd, Nippon Steel Chemical & Material Co. Ltd, PTT Phenol Company Limited, SABIC, Samyang Holdings Corporation, Shanghai Sinopec Mitsui Chemicals Co. Ltd, and Sinopec Mitsubishi Chemical Polycarbonate (Beijing) Co., Ltd.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

Ravina
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Ravina Pandya,  Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.