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The Bisphenol A (BPA) market is experiencing moments that are significant. The changes involve fluctuations in need and application instances in different industries. The prevalence of BPA can be attributed to the fact that it is a primary agent in the synthesis of polycarbonate plastics and epoxy resins which in turn leads to the production of the majority of the items people use in their everyday lives. Regarding the market, the trend of heightened scrutiny and the measures of control imposed on BPA in the wake of its possible health risks is quite meaningful. So, there is an increased popularity of BPA-free alternatives in the consumption products and foremostly use in the food and beverage packaging. This trend is resulted from the growing concern around the possible endocrine disrupting actions of BPA, being that BPA is associated with potential health hazards, mostly for children, and consumers become aware of this, manufacturers tend to use safer alternatives.
The packaging industry, surely, is undergoing the switch where more and more BPA-free materials are used.. The customers are the people who are outrageous about the security matters as well as the harmless environmental issues. When they look for smart, ecological packaging tools, BPA-free plastics are used in those packaging tools. Manufacturers use investments in research and development to satisfy both safety and environment requirements- see article. That is consequential to world-wide-known decision on removing single-use plastics and promoting nature friendly packaging.
Additionally, the two industries; electronics and automotive are emerging to be the contributors that are propelling the growth of the BPA market. BPA was included in epoxy resin production for electronic elements and car bodies, which are in demand today as well. Although the market is experiencing a slow transition to more sustainable raw materials and compositions, everyone agrees that they will be able to keep up with the strict norms on toxicity requirements and the environment. This movement is dedicated to sustainability, and less influence of greenhouse effect which leads to more environmentally friendly manufacturing processes in these industries.
The growing ecological sustainability's influence dictates the pace of the BPA market changes. Displacing plastics with newer technologically evolved bio-based products is high on manufacturers’ agenda and attracts lots of investment money. An aspect of substitution is the use of plant-derived sources which produce BPA-free plastics and resins. A bio-based take on BPA alternativesthat makes a reaction to the call for environmentally friendly materials, whose carbon footprint is significantly less and which can be used in the circular economy, is a result of that.
Besides, the BPA demand is also re- structured in geographical needs. With awareness rising regarding the possible risks to health from BPA usage, governments globally are becoming more stringent with the rules governing it. This has subsequently involved the reorganization of manufacturing processes and the embracing of BPA alternatives in regions where strict enforcement of regulatory oversight is the mainstay. The market growth may be attributable to the increasing compliance with the evolving standard bunker use in a number of applications.
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)
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