Biphenyl Market Report Latest Trends and Future Opportunities Analysis

Shifting consumer preferences toward packaged food products, coupled with rapid urbanization and rising demand for consumer goods, are significantly driving the growth of the global biphenyl market. Biphenyl is widely used across industries such as food & beverages, textiles, pharmaceuticals, and chemicals, supporting its expanding market footprint.

The global biphenyl market was valued at $1.24 billion in 2021 and is projected to reach $1.98 billion by 2031, registering a CAGR of 4.8% from 2022 to 2031.

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Market Dynamics:-

Drivers:

- The growing consumption of packaged food, increased urban population, and expanding use of biphenyl in consumer goods are key factors propelling market growth. Biphenyl's effectiveness as a preservative and chemical intermediate further strengthens its demand across multiple sectors.

Restraints:

- Prolonged exposure to biphenyl can lead to health issues such as kidney dysfunction, cardiovascular complications, and gastrointestinal disorders, which may limit market expansion.

Opportunities:

- Emerging applications of biphenyl in the treatment of chronic health conditions including hypertension, osteoarthritis, diabetic nephropathy, Alzheimer's disease, rheumatoid arthritis, and certain cancers are expected to create lucrative growth opportunities in the coming years.

Segment Insights:-

By Source:

- The coal tar segment dominated the market in 2021, accounting for more than half of global revenue, and is expected to maintain its leading position through 2031. This growth is driven by rising demand from the pharmaceutical industry, particularly for skin-related medications.
Meanwhile, the crude oil segment is anticipated to grow at the fastest CAGR of 5.1%, fueled by increased demand from the textile industry.

By Application:

- The dye carrier segment held the largest market share in 2021, contributing nearly one-third of total revenue. Growing fashion awareness and increased demand for premium textiles have boosted the use of biphenyl as an effective dye carrier for polyester fabrics.

- The food and beverages segment is expected to witness the fastest growth, with a projected CAGR of 5.3%, due to rising consumption of packaged foods and biphenyl's role in preventing fungal growth.

Regional Analysis:

- North America led the global biphenyl market in 2021, accounting for approximately two-fifths of total revenue, and is expected to retain its dominance by 2031. This growth is attributed to extensive use of biphenyl in aviation as a heat transfer fluid, along with high consumption of packaged food and beverages.

- Asia-Pacific is forecast to register the fastest CAGR of 5.9%, driven by expanding applications across power generation, textiles, agriculture, aviation, and chemical manufacturing industries.

Key Market Players:

- ABacipharm Corporation
- Alfa Aesar
- Biosynth Carbosynth
- Daken Chemical Limited
- Eastman Chemical Company
- Henan Tianfu Chemical Co., Ltd.
- Jiangsu Zhongneng Chemical Technology Co., Ltd.
- LANXESS AG
- MainChem
- Merck KGaA
- Oakwood Products, Inc.
- Otto Chemie Pvt. Ltd.
- Springchem New Material Technology Co., Limited
- Taj Pharmaceuticals Ltd.
- TCI America

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