by The Bisphenol A Market is estimated to be valued at US$ 7.61 Million 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. BPA is primarily used in the manufacturing of polycarbonate plastics and epoxy resins. Polycarbonate plastics find application in various industries such as food & beverages, consumer goods, electrical & electronics, and industrial. Epoxy resins are used for surface coatings of metals and composites. Bisphenol A provides strength, durability and transparency to polycarbonate plastics and heat and chemical resistance to epoxy resins.
Market key trends:
The global bisphenol A market is witnessing high demand from polycarbonate plastics and epoxy resin industries. Polycarbonate plastics find wide usage in food & beverage packaging, consumer durables, automotive components, optical media, and electrical fittings owing to their durability, transparency and impact resistance. Epoxy resin coatings are majorly used in metal cans, pipes, and industrial flooring applications due to their resistance to water and chemicals. The growing demand for polycarbonate and epoxy resin from various end-use industries is expected to boost the bisphenol A market during the forecast period. Furthermore, increasing investments in infrastructure and construction industries in developing nations are anticipated to fuel the consumption of epoxy resin coatings thereby driving the bisphenol A market growth over the next few years.
Porter’s Analysis
Threat of new entrants: Low capital requirements and existing brands loyalty act as a barrier for new entrants in this market. Bargaining power of buyers: Large buyers have significant bargaining power due to availability of substitutes. Bargaining power of suppliers: Suppliers have moderate bargaining power due to presence of many suppliers in this market. Threat of new substitutes: Substitutes like bisphenol F and S pose threat to the bisphenol A market. Competitive rivalry: Intense competition exists among existing players.
SWOT Analysis
Strength: Wide applications in epoxy resins and polycarbonate plastics industries. Weakness: Potential health hazards associated with bisphenol A poses serious threat. Opportunity: Increasing demand for BPA-free products opens new growth avenues. Threats: Stringent regulations overuse of bisphenol A poses threats.
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 from polycarbonate and epoxy resin industries. Asia Pacific dominates the global bisphenol A market and is expected to maintain its lead over the forecast period. Factors such as growing construction, automotive and electrical & electronics industries fuel bisphenol A demand in the region. China leads the Asia Pacific bisphenol A market and accounts for over 50% of global bisphenol A production capacity. 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
