The global bisphenol A market size is anticipated to expand at a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to rapid growth of the construction industry.
Bisphonal A (BPA) is an industrial chemical that is used in making certain plastics and resins. It is found in polycarbonate plastics and epoxy resins. BPA is a colorless crystalline solid that is soluble with organic chemical compound but poorly soluble in water. It is harmful as a concern of possible negative impact to organs. BPA applications include electronics, construction materials, automotive, and date centers. It provides protective coating to the product.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing demand for automotive spare parts is anticipated to fuel up the market growth.
- Rising R&D activities to introduce bio-based products is estimated to foster the growth of the market growth during the forecast period.
- Growing demand for polycarbonates in end-user household goods and rising use of the chemical in medical devices are expected to drive the market growth.
- Lack of capital for investment in manufacturing processes and research and development (R&D) initiatives can hinder the overall growth of the market.
- The alternatives of BPA over health concerns can create challenges, disrupting the market growth.
- Growing requirement for developing new products while maintaining low costs can create lucrative opportunities for emerging players in the market.
Scope of the Report
The report on the global bisphenol A market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Bisphenol A Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Applications (Polycarbonate Resins, Epoxy Resins, Unsaturated Polyester Resins, Flame Retardants, and Other Applications)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Covestro AG; Mitsubishi Chemical Corporation; Mitsui Chemical Inc.; SABIC; and LG Chem
Bisphenol A Market Segment Insights
Epoxy resins segment is expected to grow at a rapid pace
Based on applications, the market is segregated into polycarbonate resins, epoxy resins, unsaturated polyester resins, flame retardants, and other applications. The epoxy resins segment is expected to grow at a rapid pace during the forecast period due to increasing demand for water-theme parks. However, the polycarbonate resins segment is anticipated to hold a key share of the market in the coming years owing to their lightweight high performance resin characteristic. This increases their deployment in electronic components such as shock absorber and UV protection.
Asia Pacific is anticipated to constitute a major market share
In terms of regions, the bisphonel A market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to constitute a key share of the market during the projected period due to rising use of mosaic tiles that uses epoxy resins. The COVID-19 outbreak led to the halt in the construction activities, which in turn, disrupted the sales of paints & coatings. However, relaxation on restrictions is anticipated to help the market recover soon. On the other hand, the market in North America is anticipated to expand at a rapid pace during the forecast period owing to the rising support of government bodies on infrastructure developments.
Segments Covered in the Report
The bisphenol A market has been segmented on the basis of
- Polycarbonate Resins
- Epoxy Resins
- Unsaturated Polyester Resin
- Flame Retardants
- Other Applications
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- Covestro AG
- Mitsubishi Chemical Corporation
- Mitsui Chemical Inc.
- LG Chem
Key players competing in the bisphenol A market are Covestro AG; Mitsubishi Chemical Corporation; Mitsui Chemical Inc.; SABIC; and LG Chem.
In August 2021, Mitsubishi Chemical Corporation announced the investment of USD 915 Million to construct a resins plant to ramp up the production process.
In July 2021, Saudi Basic Industries Corporation (SABIC) launched sustainable polycarbonate film and sheet products. The new bio-based LEXAN film is manufactured from polycarbonate resins, which helps in lessening the carbon footprint.