Biphenyl Market Size, 2023 Global Growth, Key Players and Forecast 2031 | TCI America, Taj Pharmaceuticals Ltd, Springchem New Material Technology Co.

The global biphenyl market size was US$ 1.2 billion in 2021. The global biphenyl market size is estimated to reach US$ 1.8 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.8% during the forecast period from 2022 to 2030.

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Biphenyl is a colorless and clear organic compound that has antifungal and antimicrobial properties. It is majorly utilized as a heat transfer medium in the organic synthesis of various organic chemicals. Furthermore, it acts as a perfect dye carrier in the textile sector, which helps penetrate distributed dyes into the polyester polymers and thus improves the widespread quality of the fabric.

Factors Affecting Marketing Growth

Busy lifestyle schedules, and changing consumer need habits have increased the demand for sealed food items where biphenyl is majorly used to prevent fungal development on sealed food items. Thus, propelling the growth of the global market.
The population growth, associated with fast urbanization has increased in need for different consumer goods where biphenyl is more used as a vital chemical intermediator in the development process. This may drive the growth of the global market.
Biphenyl is majorly used to aid many health-related ailments such as diabetic nephropathy, hypertension, rheumatoid arthritis, osteoarthritis, prostate cancer, Alzheimers disease, etc. This is anticipated to propel the growth of the global market.

Impact on COVID-19 Analysis

COVID-19 negatively impacted the global market's growth due to its reliance on chemicals, beverages and foods, polymers, textiles, agriculture, and different sectors. Furthermore, about 60 percent of manufacturing sectors were not damaged by COVID-19, while other sectors like food and beverages and pharmaceuticals have been marginally impacted owing to high demand. This has noticed a downfall in the global markets demand, due to its use in different manufacturing and other end-use industries.

Regional Analysis

The Asia-Pacific is expected to grow at the highest CAGR during the forecast period and recorded the highest global market share in 2021. This is due to the increasing need for biphenyl from different end-use sectors like agriculture, textile, chemical manufacturing, food & beverage, and others, which, in turn, drive the biphenyl developers to grow their production abilities. Also, rise in agricultural exports where biphenyl is used as a fungicide to fight against the development of pathogens.

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Leading Competitors

The prominent players in the global biphenyl market are:

TCI America
Taj Pharmaceuticals Ltd
Springchem New Material Technology Co.
Oakwood Products
Otto Chemie Pvt. Ltd
JIANGSU ZHONGNENG CHEMICAL TECHNOLOGY CO.
Henan Tianfu Chemical Co.
MainChem
Merck kGaA
Eastman Chemical Company
Daken Chemical Limited
Others

Segmentation Analysis

The global biphenyl market segmentation focuses on Source, Application, and Region.

Segmentation on the basis of Source
Natural Gas
Crude Oil
Coal Tar

Segmentation on the basis of Application
Dye Carrier
Food and Beverages
Chemical Intermediates
Pharmaceuticals Solvent
Others

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Segmentation on the basis of Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America

Key questions answered in the global market report are:

-- How does a global company acquire markets?
-- What are its core strategies and policies?
-- What factors will influence the market over the forecast period?
-- What are the factors driving and restraining the market?
-- What are the leading competitors in the global market?
-- Which region is growing at a higher pace in the global market?

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This release was published on openPR.