Bisphenol-A Market to Hit US$ 32,342.49 Million By 2031 | Research Analysis
Consegic Business Intelligence analyzes that the bisphenol-A (BPA) market is growing with a CAGR of 4.1% during the forecast period (2023-2031), owing to the surging demand for polymer resins from the construction industry, and major participants includes are BASF SE, LG Chem, Hex ion, Convector AG, Glen ham Life Sciences
New York, Oct. 20, 2023 (GLOBE NEWSWIRE) — The global Bisphenol-A Market is expected to witness significant growth at a CAGR of 4.1% during the forecast period of 2023-2031. The growth is attributed to the increasing use of BPA in various construction materials.
According to a recent report by Consegic Business Intelligence, the bisphenol-A market is poised for strong expansion and is expected to reach USD 32,342.49 million by 2031. The market, which was valued at USD 22,695.49 million in 2022, is projected to grow at a compound annual growth rate of 4.1% during the period 2023-2031. Consegic Business Intelligence study also provides insights into the market’s competitive landscape, market segmentation, regional outlook, and emerging technologies in the bisphenol-A market.
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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.
Global bisphenol-A market: Report Attributes
|Report Attributes||Report Details|
|Market Size in 2031 (USD Million)||32,342.49 Million|
|By Application||Polycarbonate Resin, Epoxy Resin, Vinyl Ester Resin, Flame Retardant, Unsaturated Polyester Resin, and Others|
|By End-use Industry||Paints and coatings, Adhesives, Electronics and Electrical, Packaging, Construction, and Others|
|By Distribution Channel||Direct and Indirect|
|Report Coverage||Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more.|
|By Region||North America, Asia-Pacific, Latin America, Europe, 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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Global bisphenol-A Market Segmentation Details:
Based on Application, in 2022, the polycarbonate resin segment contributed the largest market shares in the bisphenol-A market. Bisphenol-A (BPA) plays a major role in the production of polycarbonate, that 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.
Based on End-use Industry, in 2022, the packaging segment contributed the largest market shares in the bisphenol-A market. Bisphenol-A (BPA) is used to produce polycarbonate plastic and epoxy resins, that 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.
Based on Distribution Channel, in 2022, the indirect sales channel accounted for the largest market share for the sale of bisphenol-A worldwide. 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.
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Based on Region, in 2022, Asia Pacific accounted for the highest market share. The growth is driven by the rising demand of electric vehicles in the region. In addition to this, the rapidly growing paint and coatings industry is another prominent factor proliferating the demand for bisphenol-A (BPA).
As per the research, Mitsubishi Chemical Corporation, LG Chem, and BASF SE are the major market players that comprise the latest market circumstances. These companies are continuously leveraging new technologies to develop innovative solutions that are more efficient, and cost-effective. Further, the bisphenol-A market is expected to grow steadily due to the increasing product usage in various construction and electronics applications. 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.
Key Market Takeaways
- Based on application, the polycarbonate resin segment accounted for the highest market share of 35.22% in the bisphenol-A market statistics in 2022.
- Based on end-use industry, the packaging segment accounted for the highest market share in the bisphenol-A market statistics in 2022.
- Based on distribution channel, the indirect segment accounted for the highest market share in the bisphenol-A market statistics in 2022.
- Europe is expected to grow at the fastest CAGR of 4.6% during the forecast period due to the growing adoption of polycarbonate appliances in the electronics and construction industry.
- Asia Pacific accounted for the highest market share of 52.50%, was valued at USD 11,915.13 million in 2022, USD 12,360.34 million in 2023, and is expected to reach USD 18,063.28 million in 2031.
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List of Major Players Global Bisphenol-A Market:
- BASF SE
- KUMHO P&B CHEMICALS., INC
- LG Chem
- NAN YA PLASTICS CORPORATION
- Hex ion
- Mitsubishi Chemical Corporation
- Convector AG
- Glen ham Life Sciences
Global Bisphenol-A Market Segmentation:
- By Application
- Polycarbonate Resins
- Epoxy Resins
- Vinyl Ester Resins
- Flame Retardants
- Unsaturated Polyester Resins
- By End-use Industry
- Paints and coatings
- Electrical and electronics
- By Distribution Channel
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Frequently Asked Questions in the bisphenol-A Market Report
- What was the market size of BPA in 2022?
- In 2022, the market size of bisphenol-A was USD 22,695.49 million.
- What will be the potential market valuation for bisphenol-A by 2031?
- In 2031, the market size of bisphenol-A is expected to reach 32,342.49 million.
- What is the key restraint hampering the growth of the bisphenol-A market?
- The environmental impact associated with the production of bisphenol-A is likely to limit the market growth.
- What is the dominating segment in the bisphenol-A market, by application?
- In 2022, the polycarbonate resin segment accounted for the highest market share in the overall bisphenol-A market.
- Based on current market trends, which geographical region contributed the largest share of the market?
- Asia Pacific accounted for the largest market share in the bisphenol-A market.
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