Biphenyl Market Analysis

Biphenyl Market Analysis

Coal tar biphenyl show valued over USD 85 million in the year 2020 and is anticipated to show highest CAGR over 7.5% over the coming years. The rising demand for dyes, drugs, and other compounds is one of the defining factors supporting coal tar biphenyl market growth.  Biphenyl naturally occurs in coal tar, which has a wide array of applications in medicine, construction, and other industries. Coal tar is primarily used to produce refined chemicals and coal-tar products such as creosote & coal-tar pitch.
 

Coal tar is also used in medications as it cures many skin issues such as scaling and dryness. Coal tar belongs to a class of drugs known as keratoplastics. It causes the skin to shed dead cells from its top layer and slows down the growth of skin cells.
 

Additionally, it is a topical medication applied to skin to treat psoriasis and seborrheic dermatitis, resulted in growing demand for coal tar biphenyl in the pharmaceutical application and should support the biphenyl market growth.
 

Chemicals Intermediate application of biphenyl market is expected to show moderate growth and valued over USD 55 million and projected to reach over USD 85 million by 2027. Increasing usage of biphenyl as an intermediate to produce emulsifiers is driving the market growth of biphenyl. Additionally, biphenyl is used as a thickener in carriers for printing and as precursors in the manufacture of benzidine. This has led to an increase in the demand for biphenyl as chemicals intermediate in many of the end-use manufacturing industries.
 

Furthermore, biphenyl is used as an intermediate for crop production, supporting market growth. Also, the growing demand for non-agricultural pesticides and preservatives is also attributing toward the biphenyl market from chemical intermediate application and is projected to gain traction across the globe. Therefore, the growing chemical industry should support the growth of chemicals intermediate and drive the demand for biphenyl over the coming years.
 

Asia Pacific biphenyl market surpassed USD 34.50 million in 2020 with the CAGR over 11.5 through 2027. In the past few years, biphenyl has witnessed a positive trend as preservatives & flavoring agents in the food industry. Moreover, growth in the agricultural sector is likely to boost the biphenyl demand for its usage as active ingredients to control plant pests.
 

Moreover, In Asia Pacific, especially in China and India, the biphenyl market is anticipated to grow as dye stuff carrier for textiles owing to the increasing demand for apparels, particularly through e-commerce portals. The rising disposable income and changing perceptions of dermatological aspects of skin care are also one of the factors support the biphenyl market growth in the Asia Pacific region.