Bisphenol-A Market Forecast 2023 - 2031

Report ID : CBI_1339 |  Category : Materials And Chemicals   | Published Date:     |  Format :   ms word  ms Excel  PDF

Segments Covered :
By Applications Polycarbonate Resin, Epoxy Resin, Vinyl Ester Resin, Flame Retardants, Unsaturated Polyester Resin, and Others
By End-use Industry Paints and Coatings, Adhesives, Electronics and Electricals, Packaging, Construction, and Others
By Distribution Channel Direct and Indirect
By Region North America, Europe, Asia Pacific, Latin America, and Middle East & and Africa.
Report Snapshots :
Base Year: 2022
CAGR: 4.1%
Forecast Year: 2023 - 2031
Revenue 2022: $22,695.49 Mn
Revenue 2023: $23,521.11 Mn
Revenue 2031: $32,342.49 Mn

Bisphenol-A Market Forecast 2023 - 2031

Market Overview :

Consegic Business Intelligence analyzes that the bisphenol-A market is growing with a CAGR of 4.1% during the forecast period (2023-2031). The market accounted for USD 22,695.49 million in 2022 and USD 23,521.11 million in 2023, and the market is projected to be valued at USD 32,342.49 million by 2031.

Market Definition :

Bisphenol-A (BPA) is an industrial chemical with the formula C15H16O2. It is a colorless solid, not flammable with a sweet odor. The compound is widely used in the manufacture of various products such as plastics, paints, adhesives, electronic and electrical parts, construction materials, and others.

Further, bisphenol-A is used in the manufacture of polycarbonate and epoxy resins that are used in the production of adhesives, machine parts, and electronic parts. BPA has properties such as high durability, tensile strength, and transparency, among others.

Bisphenol-A Market :

Bisphenol-A Market

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Market Dynamics :

Bisphenol-A Market Dynamics

Drivers :

  • High demand for polycarbonates and epoxy resins is fostering the bisphenol-A market growth.

    Polycarbonates are a type of plastic that are known for their high strength, durability, and transparency. These plastics are used in a wide variety of products, including automotive parts, appliances, electronics, and medical devices. Further, epoxy resins are a type of polymer that is used in adhesives, coatings, and sealants. The demand for polycarbonates and epoxy resins is driven by factors such as increasing urbanization, rising disposable incomes, and growing demand for consumer goods. In addition to this, the increasing demand for polycarbonates and epoxy resins from various end-user industries, such as automotive, construction, and electronics is another prominent factor accelerating the demand for bisphenol-A.

    In India, the demand for a wide range of consumer durable goods is growing as a result of the ongoing increase in disposable income and technological innovation. For instance, according to the report published by the India Brand Equity Foundation, the foreign direct investment (FDI) in the Appliances and Consumer Electronics (ACE) industry accounted for USD 481 million in 2022, from USD 198 million in 2021.

    Hence, the aforementioned factors are contributing to the growing demand for polycarbonate and epoxy resins, in tun propelling the bisphenol-A market growth.

  • Increasing use of bisphenol-A in paints and coatings is fostering market growth.

    Bisphenol-A is a versatile and low-cost chemical, used to improve the performance of paints and coatings in a number of ways, such as increasing their durability, flexibility, and resistance to chemicals and corrosion. BPA is found in some paints and coatings, but the amount of BPA that is used varies depending on the type of paint or coating. Also, interior paints typically contain more BPA than exterior paints.

    Furthermore, the demand for high-performance paints and coatings is attributed to the increasing use of paints and coatings in demanding applications such as automotive parts, industrial machinery, and infrastructure. For instance, according to the report published by the American Coatings Association (ACA), the U.S. paint and coatings industry posted a positive trade surplus of USD 1.4 billion in 2021. For this reason, increasing the use of bisphenol-A in paints and coatings is fostering market growth.

Restraint :

  • Toxicity and carcinogenic properties of bisphenol-A is restricting the market growth.

    Bisphenol-A (BPA) possesses properties such as durability, molding capacity, and transparency, however, high toxicity to humans and the environment is likely to hamper the product demand. For instance, according to an article published by the National Library of Medicine, high exposure to BPA increases the risk of developing cardiovascular diseases (CVDs) including atherosclerosis, hypertension, and diabetes.

    Stringent government regulations for the use of bisphenol-A is another significant factor that is negatively impacting the market growth. For instance, the European Food Safety Authority (EFSA) recommends that pregnant women and infants avoid exposure to BPA as much as possible. As a result, the above-mentioned factors are likely to limit the bisphenol-A market growth.

Opportunities :

  • The rapidly growing construction industry is expected to fuel the demand for bisphenol-A.

    BPA is used in a variety of construction materials, including polycarbonate plastics, adhesives, coatings, PVC pipes, among others. The demand for BPA in the construction industry is expected to grow in the coming years, driven by factors such as growing demand for sustainable building materials, and increasing investment in infrastructure projects, among others.

    Additionally, the growing construction industry across the globe is a major factor in enhancing the application of building materials. For instance, according to the data published by the U.S. Census Bureau, the U.S. Construction Industry was valued at around USD 1.8 trillion in 2022. Moreover, the construction spending in the U.S. in June 2022 was USD 923.72 billion, USD 492.68 billion, and USD 345.91 billion across residential, non-residential, and public sectors respectively. Thus, the growth in construction activities is enhancing the application of building materials, in turn propelling the bisphenol-A market growth over the forecast period.

 

Bisphenol-A Market Report Coverage :

Report Attributes Report Details
Study Timeline 2017-2031
Market Size in 2031 USD 32,342.49 Million
CAGR (2023-2031) 4.1%
By Applications Polycarbonate Resin, Epoxy Resin, Vinyl Ester Resin, Flame Retardants, Unsaturated Polyester Resin, and Others
By End-use Industry Paints and Coatings, Adhesives, Electronics and Electricals, Packaging, Construction, and Others
By Distribution Channel Direct and Indirect
By Region North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa
Key Players BASF SE, LG Chem, NAN YA PLASTICS CORPORATION, Hex ion, Mitsubishi Chemical Corporation, Convector AG, Glen ham Life Sciences.

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Market Segmentation :

By Application :

The application segment is categorized into polycarbonate resin, epoxy resin, vinyl ester resin, flame retardants, unsaturated polyester resin, and others. In 2022, the polycarbonate resin accounted for the highest market share of 35.22% in the bisphenol-A market and is also expected to grow at the fastest CAGR over the forecast period. Bisphenol-A (BPA) plays a major role in the production of polycarbonate, which is a commonly used plastic used in a multitude of industries. These resins play an important role in the formation of strong and durable products for consumer and commercial industries. In addition, polycarbonate resins are also used in the manufacturing of machine parts and electric components. Thus, owing to these benefits, the increasing demand for bisphenol-A for polycarbonate resin applications is anticipated to drive the segment growth during the forecast period.

Global Bisphenol-A Market, By Application, 2022

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By End-use Industry :

The end-use industry segment is categorized into paints and coatings, adhesives, electronic and electrical, packaging, construction, and others. In 2022, the packaging segment accounted for the highest market share and the fastest CAGR over the forecast period in the overall bisphenol-A (BPA) market. Bisphenol-A (BPA) is used to produce polycarbonate plastic and epoxy resins, which are both used in a variety of food and beverage packaging materials. Polycarbonate plastic is used to make clear, durable food and beverage containers, such as water bottles, food storage containers, and baby bottles. Epoxy resins are used to coat the inside of metal food and beverage cans to protect them from corrosion and prevent the metal from leaching into the food or beverage. Hence, the high use of these materials for packaging applications in the food and beverage industry is accelerating market growth. For instance, according to the data published by the Flexible Packaging Association, the food packaging in food packaging accounts for 52% of the total shipments in the U.S.

By Distribution Channel :

The distribution channel segment is categorized into direct and indirect. In 2022, the indirect segment accounted for the highest market share and is also projected to grow at the fastest CAGR over the forecast period. The segment growth is driven by the increasing demand from various end-user industries, such as construction, automotive, and electronics. The market is highly fragmented, with a large number of small and medium-sized enterprises (SMEs) operating in the market. These SMEs often rely on distributors to reach their target markets. As a result, the aforementioned factors are contributing to the segment growth.

By Region :

The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

 
North America Bisphenol-A Market, 2022 (USD Million)

Regional Growth Insights

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In 2022, the Asia Pacific region accounted for the highest market share at 52.50% valued at USD 11,915.13 Million in 2022 and USD 12,360.34 Million in 2023, it is expected to reach USD 18,063.28 Million in 2031. In Asia Pacific, China accounted for the highest market share of 29.50% during the base year of 2022. The growing demand for electric vehicles in the region is driving the demand for BPA-based plastics, that are used in the production of electric vehicle batteries. In addition to this, the rapidly growing paint and coatings industry is one of the major factors proliferating the demand for bisphenol-A (BPA) in the region. For instance, according to the report published by the American Coatings Association, China accounted for approximately 28% of the global paints and coatings industry. However, Europe is anticipated to grow at the fastest CAGR over the forecast period.

North America Bisphenol-A Market, By Countries (2022)

Details Countries Growth Insights

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Bisphenol-A Market Competitive Landscape:

The bisphenol-A market is highly competitive, with several large players and numerous small and medium-sized enterprises. These companies have strong research and development capabilities and a strong presence in the market through their extensive product portfolios and distribution networks. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships. The key players in the market include:

 

Frequently Asked Question

What was the market size of the bisphenol-A market in 2022?+

In 2022, the market size of bisphenol-A was USD 22,695.49 Million.

What will be the potential market valuation for the bisphenol-A industry by 2031?+

In 2031, the market size of bisphenol-A will be expected to reach USD 32,342.49 Million.

What are the key factors driving the growth of the bisphenol-A market?+

Growing demand for polycarbonate resins and epoxy resins across the globe is fueling market growth at the global level.

What is the dominating segment in the bisphenol-A market for the application?+

In 2022, the polycarbonate resin segment accounted for the highest market share in the overall bisphenol-A market.

Based on current market trends and future predictions, which geographical region is the dominating region in the bisphenol-A market?+

Asia Pacific accounted for the highest market share in the overall market.