by Bisphenol A (BPA) is an organic synthetic compound which belongs to a class of chemicals known as bisphenols. It is primarily used in the production of polycarbonate plastics and epoxy resins. BPA-based polycarbonate plastics provide advantage of strength, transparency and lightweight properties, thus find extensive applications in food and beverage packaging, medical devices, consumer electronics and automotive components. Epoxy resins containing BPA are used in protective coatings on metal products, such as food and beverage cans.
The global Bisphenol A Market is estimated to be valued at US$ 13.2 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:
Increasing Usage in Polycarbonate Plastics and Epoxy Resins: BPA acts as a building block for polycarbonate plastics and epoxy resins owing to its thermal stability and high reactivity properties. Polycarbonate plastics made from BPA demonstrate excellent strength, toughness and transparency making them suitable for manufacturing a variety of products such as containers, tableware, electronic components and automotive parts. Moreover, BPA-based epoxy resins are used as protective coatings in food and beverage cans to prevent corrosion. Rising demand for polycarbonate plastics and epoxy resins from various end-use industries is expected to drive the growth of Bisphenol A market over the forecast period.
SWOT Analysis
Strength: Bisphenol A has wide applications in the production of polycarbonate plastics and epoxy resins which are used to make a variety of consumer products.
Weakness: Exposure to Bisphenol A is linked to various health hazards like damage to reproductive systems, cancer, early puberty and cardiovascular disease. Regulatory restrictions on its use are increasing.
Opportunity: Increasing demand for polycarbonate plastics from the electrical & electronics and consumer goods industries offers opportunities for market growth. Emerging applications in coatings, adhesives and thermal paper also support new opportunities.
Threats: Existing substitutes like Bisphenol F and S pose a threat to the market. Regulations banning Bisphenol A use in certain products may shift demand to alternate materials. Higher production costs of substitutes currently limit their adoption.
Key Takeaways
The global Bisphenol A market demand is expected to witness stable growth driven by rising demand from polycarbonate and epoxy resin applications. The global Bisphenol A Market is estimated to be valued at US$ 13.2 billion in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023-2031.
Regional analysis comprises Asia Pacific accounting for the largest share of the global bisphenol A market currently due to the high production volumes in major economies like China, Japan and India. China is the world’s largest producer as well as consumer of bisphenol A due to presence of large polymer production capacities. The consumption of bisphenol A is also high in other Asian countries like India, Taiwan and South Korea as they have emerged as major polycarbonate resin manufacturing hubs globally.
Key players analysis comprises Key players operating in the Bisphenol A market are China National BlueStar, Mitsui Chemicals, Kumho P&B Chemicals, LG Chem, and SABIC Indonesia Petrochem. China National BlueStar dominates global Bisphenol A production with its facilities located in China. Other major producers include Kumho P&B Chemicals of South Korea and Mitsui Chemicals of Japan. The key players focus on capacity expansions as well as development of alternatives to address sustainability and regulatory challenges surrounding Bisphenol A.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
