by The global 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 (BPA) is an intermediate feedstock used in the production of epoxy resins and polycarbonate plastics. Epoxy resins are used as surface coatings in bottled water containers, soda and beer cans. Polycarbonate plastic made from BPA is lightweight and impact-resistant and used as a substitute for glass in products like safety equipment, medical devices, lenses, and CDs and DVDs. The demand for BPA is driven by growing consumption of consumer goods, food packaging, electronics and building and construction industry.
Market key trends:
One of the key trends driving growth in the Global Bisphenol A market size is the rising demand from the construction industry. The booming construction industry, driven by growth in real estate and infrastructure development is fueling the demand for BPA-based products like polycarbonate sheets and epoxy coatings. Polycarbonate sheets find wide application in greenhouses, industrial warehouses, and commercial buildings owing to their transparent and impact-resistant properties. Meanwhile, the growing repair and remodelling activities in the residential sector is propelling sales of BPA-based paints and coatings. However, stringent regulations around the world limiting the use of BPA in food contact materials may hinder the market growth to some extent over the forecast period.
Porter’s Analysis
Threat of new entrants: The Bisphenol A market has moderate barriers to entry due to high manufacturing costs involved in R&D and production processes for Bisphenol A. This limits the threat of new entrants.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and price sensitivity of buyers for fluctuations in Bisphenol A prices.
Bargaining power of suppliers: A few large players dominate the supply landscape, giving them higher bargaining power over buyers.
Threat of new substitutes: Alternatives like Epoxy resins and polycarbonate plastics pose a threat to the demand for Bisphenol A.
Competitive rivalry: The market is consolidated with large players leading to high competitive rivalry.
Key Takeaways
The global Bisphenol A market is expected to witness high growth, exhibiting CAGR of 8.3% over the forecast period, due to increasing demand from polycarbonate and epoxy resins applications.
Regional analysis: Asia Pacific dominates the global Bisphenol A market due to presence of large polycarbonate and epoxy resin producers in China and Japan. China accounted for over 50% of global Bisphenol A demand in 2023. North America and Europe are other major markets for Bisphenol A.
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
