Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
The market dynamics of Bisphenol A (BPA) are facing the shifts caused by the multifactorial processes of industrial demand, regulatory requirements, and consumer consciousness. BPA, a chemical compound, which is broadly used in the manufacture of plastics and epoxy resins, stands as an object of concern due to possible health and environmental effects. Another main element that drives the market dynamics is the extensive use of BPA in the manufacturing of polycarbonate plastics and epoxy resins, which form the integral parts of different consumer products, namely food and drink containers, electronics and medical devices.
The evolution dynamics of the BPA market highly depend on the flow of growth in end-use industries like packaging, automotive, and electronics. Not only does BPA provide the versatility to add strength and durability to plastics, but it is also highly preferred in the packaging materials, with the packaging industry being a big benefactor. On the contrary, the increasing health risk awareness among consumers has inspired a change in market dynamics, with preference for BPA free alternatives that are widely used today in the production of foods and beverages containers.
Regulatory requirements, too, are a very important aspect of how BPA market dynamics are formed. The possibility of adverse health effects of BPA exposure have led to standard setting in different jurisdictions. Some countries are implementing BPA restrictions for certain consumer products, and other ones are putting up regulations to limit the amount of BPA in food contact materials. This type of regulatory actions influence the demand for BPA and forces firms to implement non-BPA and different coatings.
Besides, the consumer knowledge and choices touch upon the BPA market. The health hazard alert caused by endocrine disruption has led consumers to prefer items free of BPA. This trend has resulted in manufacturers trying to make BPA-free substitutes and introducing them to the market as the new public demand. The packaging sector is not the exception since BPA-free materials are swiftly incorporating as a result of consumer worries and emerging regulations in this regard.
Bisphenol A Market Highlights:
Bisphenol-A Market Overview
According to MRFR analysis, Global Bisphenol-A Market was valued at USD 18.1 billion in 2018 and USD 30.78 Billion by 2030 and is projected to register a CAGR of 5.16% during the forecast period.
Bisphenol A, commonly abbreviated as BPA, is an industrial chemical primarily used in the production of polycarbonate plastics and epoxy resins, among others. BPA-based products are known for their high optical clarity, toughness, and excellent electrical resistance. Due to the aforementioned properties, BPA finds a variety of applications in numerous end-use industries such as electronics, medical, automotive, and packaging. For instance, BPA-based polycarbonate plastics on account of their electrical insulation and versatility are extensively used in the electronics industry to produce digital disks such as DVDs, compact discs, and Blu-ray discs. Besides, BPA is also used in the manufacturing of medical equipment, tableware, plastic containers, thermal print paper as well as an antioxidant in glues, plastics, and inks.
The major factor driving the growth of the global market is increasing demand for bisphenol A in the expanding electronics and automotive industries. Bisphenol A is broadly used to produce polycarbonates and epoxy resins, which are then used in the production of printed circuit boards, LEDs, keyboards, computers, and others. For instance, the Consumer Electronics Association (CEA) in January 2018 predicted an increase of 3.95% in the consumer electronics sector over 2017 with a retail revenue of USD 351 billion. This is likely to fuel the demand for BPA during the review period. The increasing use of polycarbonate plastics to produce lightweight and fuel-efficient vehicles and in numerous automobile applications such as impact-resistant bumpers, sunroofs, and others is consequently expected to boost the demand for the product during the review period.
The surging demand for epoxy resin to produce water-based coatings, protective coatings for metal cans and containers due to their high corrosion resistance and adhesion is further driving the demand of BPA in the paints and coatings industry.
Additionally, the increasing use for high strength and lightweight polycarbonate plastics in the packaging industry for storage of food products, beverages, and others is expected to propel the product demand during the forecast period. Furthermore, the increasing use of BPA-based wind turbine rotor blades in the wind energy sector is projected to create lucrative opportunities for the key players operating in the global bisphenol A market.
However, BPA is an endocrine disruptor, thus behaves in a similar way to estrogen and interferes with the production, secretion, function, and elimination of natural hormones in the body. It affects the brain development and reproductive system, especially in babies and fetuses, owing to which its use in food contact applications has been restricted in the US and Europe. This is likely to hinder the growth during the review period.
Pricing and Raw Materials
In 2018, bisphenol A was priced around USD 1700–1800 per ton across the globe and is expected to follow the similar trend during the forecast period.
BPA, one of the most utilized industrial chemicals worldwide, is produced by condensation of acetone and phenol in the presence of a strong acid catalyst mainly hydrochloric acid and is accompanied by methyl mercaptan promoter.
Market Drivers
- High demand for polycarbonate plastics in the electronics, automotive, and packaging industries.
- Growing use of epoxy resin in the paints and coatings industry to produce high-performance paints and coatings.
Market Restraints
- Stringent government regulations pertaining to the use of BPA in food contact applications in Europe.
- Health hazards associated with the use of BPA-based plastics
Opportunity
- Increasing application of BPA-based rotor blades in the power generation sector, especially wind energy.
Challenges
- Shift toward BPA-free products.
Segmentation
By Application
- Polycarbonate Plastics: The segment accounted for around ~75% of the global bisphenol A market share in 2018. The segment is projected to register the highest CAGR during the forecast period on the account of excellent durability and high heat and shatter resistance. BPA-based polycarbonates are used in a wide range of commercially available thermoplastics such as reusable containers, cell phone casings, and eye lenses.
- Epoxy Resins
- Others
By End-Use Industry
- Electronics: The segment held a dominant share in 2018 and is expected to follow the similar trend during the assessment period. The increasing use of BPA-based polycarbonate plastics and epoxy resins in the production of electronic goods such as computers, fuse boxes, lamp covers, switches, PCB’s, and other electronic equipment is augmenting the market growth. Additionally, the increasing disposable income coupled with the rising demand for white and brown goods in developing countries such as China, India, and others is likely to fuel the demand for bisphenol A in the electronics industry.
- Automotive
- Paints & Coatings
- Medical
- Packaging
- Others
By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
Regional Analysis
- Asia-Pacific held the largest market share in 2018 and is projected to register the highest CAGR during the forecast period. This is primarily due to the high demand for the product in the expanding electronics and automotive China, being the top player in the electronics industry, is the expected to be the leading country-level market; the presence of BPA-producing companies in the countries is expected to increase in the coming years. In addition, the increasing production and sale of automobiles in the country are further propelling the regional market growth. India and other South-East Asian countries also expected to contribute to regional market growth.
- North America: The high demand for polycarbonate plastics and epoxy resins in well-established end-use industries such as paints and coatings, electronics and medical are expected to contribute to the regional market growth.
- Europe: High automobile production and increasing use of polycarbonate plastics in life-saving medical devices are driving the regional market growth.
- Latin America: Expanding electronics industry is expected to boost the market growth for bisphenol A in the region.
- Middle East & Africa: The growing construction activities and automotive industry in the region are contributing to the regional market growth.
Key Players
- Convestro AG (Germany)
- KUMHO P&B CHEMICALS., INC (South Korea)
- LG Chem (South Korea)
- Mitsui Chemicals (Japan)
- SABIC (Saudi Arabia)
- NAN YA PLASTICS CORPORATION (Taiwan)
- TEIJIN LIMITED. (Japan)
- Chang Chun Group (China)
- Vinmar International (US)
- China National Bluestar (Group) Co, Ltd (China)
- SAMYANG HOLDINGS CORPORATION (South Korea)
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
