Press release
Bisphenol A Market Current Status and Future Evolution 2024 - 2031 | Chang Chun Group, Covestro AG, Dow
Bisphenol A Market
The global Bisphenol A market size was valued at US$ 7.03 Bn in 2022 and is anticipated to witness a Compound Annual Growth Rate (CAGR) of 8.3% from 2023 to 2030.
Market Dynamics:
Bisphenol A market is witnessing growth owing to rising demand from polycarbonate production for food & beverage packaging, consumer goods and electronics industries. Polycarbonates find wide application in food packaging such as water and baby bottles, food containers and others due to their shatter resistance and transparency properties. Growing demand for packaged food & beverages from rising population is a key factor driving polycarbonate demand. Further, increasing electronics production is also fueling bisphenol A consumption. However, regular of bisphenol A by various regulatory bodies owing to health concerns may hamper market growth over the forecast period.
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Major Increasing Demand from Polycarbonate Production Driving the Bisphenol A Market
The major driver contributing to the growth of the bisphenol A market globally is the increasing demand of BPA from polycarbonate production. Polycarbonate plastics find extensive application across various industries such as automotive, electrical & electronics, optical media, consumer goods, medical, and construction among others due to their unique properties. BPA is a key raw material used in the manufacturing of polycarbonate plastics. With polycarbonate demand growing significantly across industries, especially from automotive and consumer electronics, the requirement of BPA from polycarbonate producers is also rising substantially. The growing consumption of polycarbonate-based products will continue augmenting the sales volumes of BPA over the next few years.
Increasing Usage of Epoxy Resins Further Contributing to the Growth of Bisphenol A Market
Apart from polycarbonate, epoxy resins constitute another major end-use segment of BPA. Epoxy resins are widely used for various applications like protective coatings, electrical insulation, adhesives, and composites. The increasing utilization of epoxy resins in end-use industries like construction, paints & coatings, marine, wind energy, aerospace, and electronics is positively influencing the bisphenol A market. Coatings made from epoxy resins provide excellent adhesion, chemical resistance, and mechanical strength. Therefore, epoxy resins find higher preference over other alternatives in protective coating applications. Also, with sustainability becoming an increased focus area, the adoption of epoxy composites is witnessing an upward trend in the wind energy and aerospace sectors. All these factors are working in favor of the rising consumption of bisphenol A in the production of epoxy resins.
Increasing Demand from Emerging Nations Driving Market Trends
With improving economic conditions and manufacturing growth, the bisphenol A market is witnessing rising demand from developing countries like China, India, Brazil, Mexico, and other Asian nations. These emerging nations offer huge business opportunities for bisphenol A producers owing to rapidly increasing consumption of polycarbonate and epoxy resin-based products. Particularly in China, which is the world's largest producer and consumer of plastics, BPA demand is growing significantly every year in line with the country's strong industrial and infrastructural development. Additionally, various manufacturing companies are shifting their base to these low-cost emerging countries, which is further propelling the bisphenol A market on a global level.
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Top Companies Featured in This Report:
★ 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
★ Sinopec Mitsubishi Chemical Polycarbonate (Beijing) Co., Ltd.,
By Applications:
★ By Application: Polycarbonate Resins, Epoxy Resins, Unsaturated Polyester Resins, Flame Retardants, Other Applications
Key Regions/Countries Classified as Follows:
» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
Trends in Navigation Keyword Market:
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Report Highlights:
📈 Examination of navigation keyword market share at both country and regional levels
📈 Thorough analysis of the competitive landscape and emerging trends
📈 Detailed review of product advancements, technological developments, drivers, and limitations
📈 Strategic recommendations tailored for key business segments based on market insights
📈 Valuable guidance for newcomers venturing into the navigation keyword market
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Author Bio:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
(LinkedIn: https://www.linkedin.com/in/alice-mutum-3b247b137 )
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