Market Overview:
Bisphenol A is an organic compound mainly used in the production of polycarbonate plastics and epoxy resins. It provides properties such as durability, heat resistance and clarity to plastics. Due to these properties, Bisphenol A based products finds application in food packaging, DVDs, eyeglasses and more.
Market key trends:
Bisphenol A is used in the production of polycarbonate plastics which find widespread application in food packaging industry. One of the major trends in this market is the increasing demand for BPA free food packaging from health conscious consumers. The chemical is known to leach from food packaging and its effect on human health is still unclear. This has prompted many packaged food companies and regulatory authorities to look for alternatives to Bisphenol A in food contact materials. Development of new Bisphenol A free options for polycarbonate production is expected to drive the market growth over the forecast period.
Segment Analysis
The global Bisphenol A market is dominated by Epoxy Resins sub segment. Epoxy resins accounted for more than 50% of overall bisphenol A consumption in 2023. Epoxy resins are thermosetting polymers having excellent adhesion properties and chemical resistance. They are majorly used in various industrial applications such as coatings, adhesives, composites etc. Hence high demand from end use industries has made epoxy resins the largest consuming sub segment of bisphenol A.
The global Bisphenol A Market Growth is estimated to be valued at US$ 7.03 Bn in 2023 and is expected to exhibit a CAGR of 8.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Key Takeaways
The global Bisphenol A market is expected to witness high growth, exhibiting CAGR of 8.3% over the forecast period, 2023 to 2030, due to increasing demand from epoxy resins industry. The global Bisphenol A market was valued at US$ 7.03 Bn in 2023.
Regional analysis
Asia Pacific dominates the global Bisphenol A market with over 50% share, primarily due to large scale production facilities and demand from end use industries located in China and other Southeast Asian countries. China is the fastest growing as well as largest consumer of Bisphenol A owing to presence of key manufacturing base in the region.
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.
