Bisphenol A Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3752
Bisphenol A Market size is projected to grow significantly by 2025 led by its application in automobile, paints, adhesives, composites, food containers and electronic components from its downstream product derivatives including polycarbonate and epoxy resins. Gradual growth of commercial sector along with growing demand from construction and automobile industry is likely to positively influence product demand in projected timeline.
It is an organic synthetic compound, primarily produced from phenols and acetones which finds application in synthesis of plastics and epoxy resins. The derived plastics are clear, transparent and tough in nature thereby finding used in consumer goods including, food storage and packaging, plastic bottles, CDs and DVDs and lining of food containers, thus propelling bisphenol A market growth.
Bisphenol A market may witness gains on account of its usage in manufacturing of polycarbonate, which is a high-performance lightweight thermoplastic. The product is transparent in nature with multiple color variations, thereby finding application in eyewear as plastic lenses, Digital Disks (CDs, DVDs, and Blu-ray). Polycarbonate is also used in medical devices, automotive components, exterior lighting fixtures, protective gear, and greenhouses. The product owing to its high transparency and scratch resistant properties find extensive use in the eye wear industry. These factors would foster market value by 2025.
Polycarbonate can also be used in bullet proof glass applications owing to its high impact resistance and glass like appearance. The product can be easily molded into desired shape and owing to its light weight properties used extensively on auto mobile components including lighting components, windows, windshield and sunroof parts. The global automotive component market size is projected to surpass USD 2 trillion by 2024 and will positively influence bisphenol A market size owing to its growing downstream application in automotive component sector.
Bisphenol A market size may grow on account of its usage in manufacturing of epoxy resins which finds usage in wind energy components, electrical parts, paint and coating, adhesive, aerospace and marine industries owing to its specialized properties including toughness, chemical resistance and adhesion. Epoxy resins are good insulator due to which it finds application in electronic components including transistors, circuits and printed circuit boards They can also be modified to incorporate features of physical flexibility, thermal shock resistance and self-extinguish in case of fire for advanced electronics application. These factors culminate to influence bisphenol A market size owing to rising demand for its product derivatives.
Epoxy resins are also used as binders to manufacture heat resistant and high strength composite parts reinforced with carbon fiber, fiberglass and Kevlar. This find application in aerospace and wind energy components. The products are light in weight and fire retardant. They are versatile and can be molded to desired shapes. Increasing global warming is likely to drive renewable energy market size, thereby generating global demand for wind energy in forecasted timeframe. Global wind energy composites market size is likely to surpass USD 11.5 billion by 2023 thereby driving market size.
Product derivative including epoxy-based chemicals are used in paints and coatings steel, aluminum and pipes and fitting industries owing to their anti-corrosion properties, thus driving bisphenol A market demand. Food containers and floorings are also coated with epoxy resins to prevent rusts. The epoxy derived adhesives are chemical resistant and are used as high-performance glues in glass, wood and plastics downstream manufacturing. The global paint and coatings market poised to ship over 65 million tons by 2025, which is likely to drive up epoxy resin demand. These factors would thereby lead to rise in market size in forecast timeframe.
Bisphenol A market may be hampered as the product can imitate body hormones and can interfere with the secretion, production, action, transport, function, and elimination of natural hormones. The product is an endocrine disruptor and sensitive to infant and young children. Food and Drug Administrator (FDA) have banned the use of product in baby bottles and European Chemicals Agency has enlisted the product as a substance of very high concern. These factors may hamper industry profitability and market price trends.
Europe led by Spain, UK, France Germany bisphenol A market is likely to experience significant growth in the estimated timeframe. Commercial greenhouses guided by Controlled Environment Agriculture (CEA) is estimated to surpass USD 10 billion by 2023 owing to favorable climate and agricultural conditions. These factors would promote market size owing to its end-use application in greenhouse manufacturing.
North America led by Mexico, Canada and the U.S. bisphenol A market size is likely to grow steadily over projected timeframe owing to demand for light weight composites from wind energy, aerospace and automobile sector. U.S target to achieve over 400 GW of power generation by wind energy would propel regional market size owing to its application of its derivatives in the sector.
Asia Pacific led by Japan, India and China bisphenol A market is projected to grow significantly in the estimated timeline owing to end-use application in growing automobile industry. Shifting market trend to replace glass and metal components to make light weight vehicles would raise the demand for polycarbonate derived from the product. Growing automobile industry in China and India are likely to boost product demand for polycarbonate, which will thereby drive market size.
Global bisphenol A market share is moderately consolidated. Major players operating in this industry includes Teijin, Sunoco, Chemicals, SABIC Innovative Plastics, Mitsubishi Chemical Corporation, Olin Corporation, Kingboard Holdings, Chang Chun Plastics Co Ltd, Dow Chemical, Kumho P&B Chemicals, Vinmar International, Covestro AG, Hexion Inc., LG Chemical, Formosa Plastics, Nippon Steel & Sumikin Chemical Co Ltd, Nan Ya Plastics Corporation, Mitsui Chemicals, Samyang Innochem, Bayer Material Science and Rhodia Brasil.
Bisphenol A Market, By Application, 2014-2025 (Tons) (USD Million)
- Polycarbonate Resin
- Epoxy Resin
- Unsaturated Polyester Resins
- Flame Retardants
Bisphenol A Market, By End-Use, 2014-2025 (Tons) (USD Million)
- Eye wear
- Automotive component
- Wind Energy Composites
- Paint and Coating
- Green House
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Sunoco Chemicals
- SABIC Innovative Plastics
- Mitsubishi Chemical Corporation
- Olin Corporation
- Kingboard Holdings
- Chang Chun Plastics Co Ltd
- Dow Chemical
- Kumho P&B Chemicals
- Vinmar International
- Covestro AG
- Hexion Inc.
- LG Chemical
- Formosa Plastics
- Nippon Steel & Sumikin Chemical Co Ltd
- Nan Ya Plastics Corporation
- Mitsui Chemicals
- Samyang Innochem
- Bayer Material Science
- Rhodia Brasil
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