The global bisphenol A market was worth more than USD xx billion in revenue in 2018 and is expected to cross USD xx billion in 2023, growing at a healthy CAGR of over xx% during the forecast period.
Bisphenol A (BPA) is an organic synthetic compound with two hydroxyphenyl groups produced by the condensation of phenol and acetone. It is primarily used in the production of polycarbonates, which represent almost 70% of BPA consumption. Whereas epoxy resins are the second predominant outlet for BPA consumption.
BPA has additional applications in flame retardants and unsaturated polyester resins.
Rising demand for polycarbonates from packaging, medical and healthcare applications, electronics and in the construction and automotive industries are likely to drive the BPA market. As BPA is a primary raw material for polycarbonates, demand for these is expected to fuel the growth of this market. Demand from packaging, medical and healthcare industries and others is increasing due to rise in demand from growing population and extra income in developing countries. Additionally, demand for BPA is likely to increase at a greater rate due to the rise in demand for epoxy resins.
Drivers and Restraints of Global BPA Market
Growing investments in downstream industries in regions like Asia, Europe and the Americas are likely to offer tremendous possibilities for BPA market in the future. As a result of accessibility to raw material, multinational businesses are investing in resource-rich regions to be able to limit the overall production cost.
BPA is exposed to the probability of price volatility due to its feedstock supply. BPA has an adverse effect on human body if exposed to it for a longer duration. Its end products, especially, plastics cause hazardous effects on the health of children. European and American regulatory institutions implemented strict regulations on usage of BPA based end products in the food packaging industry. Existing and future regulations concerning the use of BPA and its derivatives in end products are likely to hinder the market growth.
Global BPA Market by Region
Asia was the largest consumer of BPA and this pattern is anticipated to be identical over the following few years. Consumption in Asia is showing upward trend because of increase in economic activity in China. China, Japan and South Korea were the largest consumers of BPA in this region. Growing demand from packaging, medical and healthcare applications, electronics and in the construction and automotive industries will drive bisphenol A market in Asia. With major production capacities in Asia, the region is likely to grow in terms of global supply capability. Europe is likely to grow at a significant rate due to demand from construction and automotive industries. Demand from the Americas was significant next to Europe, so was the demand from MEA region.
Top players in bisphenol A market include ALTIVIA Petrochemicals, LLC, China National BlueStar (Group) Co, Ltd., Covestro AG, DowDuPont Inc., Formosa Plastics Corporation, Hexion Inc., Kumho P&B Chemicals, Inc, LG Chem Ltd., Mitsubishi Chemical Holdings, Mitsui Chemical Inc., Nan Ya Plastics Corporation, Nippon Steel & Sumikin Chemical Co Ltd, Olin Corporation, SABIC, Samyang Innochem Corporation, Shanghai Sinopec Mitsui Chemicals, Co., Ltd. and Vinmar International India Private Limited among others.
The report covers exhaustive analysis on:
- Global Market Segments
- Global Market Size
- Global Market Competitive Landscape
- Production Technology
- Global Market Value Chain
Regional analysis includes:
- Middle-East and Africa
- In depth summary of parent market
- Altering market characteristics in the industry
- Detailed market segmentation
- Historical and forecast market size in terms of value
- Current industry developments
- Competitive landscape
- Potential and niche segments, regions showing promising growth