Bisphenol A or BPA is an organic synthetic compound which is used to make plastics and resins. It is used in the manufacture of polycarbonate plastics and epoxy resins which find applications in various industries such as consumer goods, electrical & electronics, automotive and construction. Polycarbonate plastics made from BPA provide protection from heat and impact due to their strength and durability properties. These plastics are used to make products like food containers, water bottles, sports equipment, medical devices, dashboards and more. Epoxy resins derived from BPA are used as protective coatings in numerous applications such as can linings, floor paints and countertops due to their water and chemical resistance.
The global Bisphenol A Market is estimated to be valued at US$ 12.5 billion in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends: The bisphenol A market growth is highly influenced by the rising demand for polycarbonate plastics and epoxy resins from various end-use industries like consumer goods, electrical & electronics and construction. Polycarbonate plastics have wide applications in household appliances, electrical equipment, medical devices, automotive interior and exterior parts. Similarly, epoxy resins are used in surface coatings, adhesives, wind turbine blades and other applications. The increasing consumption of polycarbonate and epoxy resin products is driving the growth of the bisphenol A market. However, strict government regulations around the usage of BPA due to health concerns may hamper the market growth.
Segment Analysis
The global bisphenol A market is dominated by the epoxy resins segment. Bisphenol A is primarily used in the production of epoxy resins, which finds widespread applications in industrial paints and coatings, adhesives, and electrical and electronic components. With the growing infrastructural and industrial activities globally, the demand for epoxy resins from end-use industries has increased significantly over the years. This will continue driving the sales of bisphenol A via the epoxy resins segment during the forecast period.
Key Takeaways
The global bisphenol A market analysis is expected to witness high growth. The global Bisphenol A Market is estimated to be valued at US$ 12.5 billion in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023-2031.
Regional analysis indicates that Asia Pacific dominates the global market and is expected to maintain its lead position over the forecast period. Continuous infrastructure development and industrialization in China, India, and other Asian countries are fueling the demand for bisphenol A in the region. China holds the major share of the Asia Pacific bisphenol A market due to the presence of a thriving manufacturing industry and massive infrastructure spending in the country. India is anticipated to emerge as one of the fastest-growing regional markets over the next few years.
Key players related content comprises: Key players operating in the bisphenol A market are China National BlueStar (Group) Co, Ltd., Kumho P&B Chemicals, LG Chem Ltd., Mitsui Chemicals, SABIC and Samyang Innochem Corporation. China National BlueStar (Group) Co, Ltd. is currently the leading producer of bisphenol A globally.
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