Pune, India, September 2019, MRFR Press Release/- Market Research Future has Published a Half-Cooked Research Report on the Global Bisphenol A Market.
According to the MRFR analysis, the Global Bisphenol A Market is expected to register a CAGR of ~5.16%. The global market in 2018 was valued at ~USD 18.1 billion.
Bisphenol A commonly known as BPA is a widely used chemical to produce polycarbonate plastics and epoxy resin. Due to high strength and high thermal stability, BPA-based products are useful in indoor applications and consumer products. For instance, polycarbonate plastics are widely used in plastic containers, tableware, toys, medical devices, and electronic equipment. The market growth is mainly attributed due to the rising demand for sustainable and energy-efficient materials in the automotive, electronics, and other end-use industries.
The steady demand for bisphenol A is witnessed across Asia-Pacific in the expanding electronics and automotive industries.
Industrially, the compound is synthesized by the condensation reaction in between phenol and propanone(acetone) in the presence of HCl (catalyst) and methyl mercaptan (promotor).
By End-Use Industry
- Paints & Coatings
- North America
- Latin America
- Middle East & Africa
- Asia-Pacific: Asia-Pacific held the largest market share in 2018 and is expected to be the fastest-growing regional market during the forecast period. This is largely attributed to the increasing industrialization in the region. The expanding electronics and automotive industries are contributing to the regional market growth. Additionally, the increasing disposable income coupled with rising demand for brown and white goods in China, India, and other South-East Asian countries is further propelling the demand in the region. Besides, the region also has a large presence of key players such as Blue Star, Mitsui Chemicals, Teijin, and LG Chem.
- China: The leading country-level market in Asia-Pacific owing to significant export of electronics in the country. Additionally, the increasing production and sale of automobiles in the country are further augmenting the regional market growth. According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), the total motor vehicle production in Q4 2016 was 28,118,794 and it reached up to 29,015,434 in Q4 2017. Thus, contributing the BPA demand in automobile industries.
- India: India following China is rapidly emerging as a major electronics hub in the region. According to the Indian Brand Equity Foundation (IBEF) report, the appliance and consumer electronics (ACE) industry are expected to register a CAGR of 9% during 2017–2022. Thus, signifying a potential opportunity for the manufacturers of BPA-based products in the electronics industry.
- North America: The market growth in North America is primarily driven by the increased use of polycarbonates in medical equipment on account of its high durability, strength, and ease of sterilization. Additionally, the increasing use of epoxy resins in the paints and coatings industry coupled with the increasing renovation activities in the region is augmenting the regional market growth. Although strict regulations pertaining to the use of BPA in food contact applications such as baby bottles and pacifiers is hampering the regional market growth, it is still permitted in the canned food industry and other printing applications.
- US: The high demand for BPA-based polycarbonates in medical equipment such as hemodialysis, catheters, and dental sealants is projected to fuel the demand for BPA-based products in the coming years.
- Europe: The growth of the European market is primarily driven by the increased use of BPA-based polycarbonates and epoxy resins in a wide array of consumer and industrial applications owing to its toughness, strength, and excellent chemical properties. The growth of the market is majorly driven by the expanding automotive industry to manufacture lightweight and fuel-efficient automobiles. In addition, advancements in BPA-based products is further projected to propel regional market growth. For instance, in 2018, Convestro AG, a German-based company produced a variety of polycarbonate-based transparent solid sheets with high resolution and minimal glare effects for industrial lighting applications. However, due to the health risks associated with the product, the European Commission has identified BPA as a substance of very high concern (SVHC) and has prohibited its use in the feeding bottles for infants.
- Germany: A large presence of leading producers of high-performance polymers and well-established automotive industry in the country is expected to boost the demand for the product and drive the growth of the market.
- Latin America: The market in Latin America is projected to register a healthy CAGR owing to the increasing use of BPA in the expanding electronics industry. Brazil, Argentina, and Mexico are the key contributors in the region.
- Middle East & Africa: The regional market is projected to exhibit an encouraging CAGR by 2025 on account of the gradual shift from oil & gas business toward construction and automotive sectors.
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