by The global Bisphenol A Market is estimated to be valued at US$ 7.61 Bn in 2023 and is expected to exhibit a CAGR of 8.3% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Bisphenol A is an indispensable raw material used in the production of polycarbonate and epoxy resins. These resins are extensively used in the manufacturing of electronic appliances, optical media and thermal papers because of their heat resistance and high strength properties.
Market key trends:
One of the key trends driving the bisphenol A market growth is the rising demand for thermoplastics. Thermoplastics are increasingly being used across various end use industries like automotive, construction and consumer goods because of their flexibility and ease of processing. Thermoplastics derived from bisphenol A such as polycarbonate and BPA-based epoxy resins are witnessing high demand given their excellent heat and impact resistance properties. The rising consumption of engineering thermoplastics for applications requiring high strength and durability is fueling the bisphenol A market expansion over the forecast period.
Segment Analysis
The global bisphenol A market is segmented into epoxy resins, polycarbonate resins, unsaturated polyester resins, flame retardants, and others. The epoxy resins segment dominates the market and accounted for over 50% share of the overall bisphenol A market in 2023. Epoxy resins find wide application in protecting metals, non-metals, printed circuit boards, electrical components, and others from corrosion. The demand for epoxy resins is expected to continue growing with increasing infrastructure development and electronics manufacturing across the world.
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 the construction and electronics industries.
Regional analysis
Asia Pacific dominates the global bisphenol A market and is expected to maintain its dominance over the forecast period. Countries like China, Japan and India are major markets for bisphenol A in the region. This is attributed to the presence of a strong electronics and construction industry in these countries.
Key players
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
