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The expanding construction industry is anticipated to open up new avenues for the Bisphenol A Market

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Gauri Cmi
The expanding construction industry is anticipated to open up new avenues for the Bisphenol A Market


The Bisphenol A Market is estimated to be valued at US$ 7.61 Mn or Mn 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.

Market Overview:

Bisphenol A or BPA is an organic synthetic compound with two hydroxyphenyl groups. It is a colorless solid and crystalline solid that is soluble in organic solvents. It is used primarily to make polycarbonate plastics and epoxy resins. Polycarbonate plastics made from BPA have high impact strength, transparency, heat resistance and ability to be sterilized. They are used to make various consumer products like bottles, CDs, safety equipment, medical devices etc. Epoxy resins containing BPA are used as protective internal coatings of metal-based food and beverage cans.

Market Dynamics:

Growing construction industry is one of the major drivers of the Bisphenol A market. Polycarbonate plastics and epoxy resins containing BPA find wide applications in the construction industry. Polycarbonate sheets are used for roofs, walls, windows etc due to their durability and transparency properties. Epoxy resins are used in paints, adhesives and floor coatings due to their excellent adhesion and chemical resistance properties. Another driver is the increasing demand for polycarbonate from the electronics industry. Polycarbonate resins are used to make various components of electronics like camera lenses, phone covers, laptop shells etc due to their high impact strength and heat resistance.

Segment Analysis

The Bisphenol A Market Size is dominated by the polycarbonate and epoxy resins sub-segment. This is because bisphenol A is a key raw material used in the production of polycarbonate plastics and epoxy resins. Polycarbonate plastics find wide application in various industries such as electronics, consumer goods, automotive, engineering plastic among others due to properties like high durability, heat resistance and toughness. Similarly, epoxy resins are predominant adhesives and coatings material due to their excellent adhesion, chemical and heat resistance properties.

PEST Analysis

Political: Stringent regulations restricting Bisphenol A (BPA) content in various products across the globe may hamper market growth. However, resins manufacturers are developing alternatives increasing product demand.

Economic: Rising disposable incomes and growth in end-use industries like construction and automotive are propelling bisphenol A market growth.

Social: Increasing health concerns regarding BPA exposure may negatively impact market growth. However, ease of availability and extensive applications in various industries will drive its demand.

Technological: Development of new epoxy formulations with reduced bisphenol A content and bio-based bisphenol A will present new opportunities for market players.

Key Takeaways

The global Bisphenol A market size was valued at US$ 7.61 Mn in 2023 and is expected to witness high growth, exhibiting a CAGR of 8.3% over the forecast period. Rapid industrialization and growth in end-use sectors is expected to drive bisphenol A consumption.

Regional analysis: Asia Pacific dominated the market in 2023 and is likely to maintain its lead position during the forecast timeline. This is attributed to growth of construction and automotive industries in China, India and Southeast Asian countries.

Key players: Key players operating in the Bisphenol A market include 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.

 

Read More:_ https://www.ukwebwire.com/bisphenol-a-market-trends-and-share/


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