Bisphenol A or BPA is an organic synthetic compound which is used to make
plastics and resins. It is used in the manufacture of polycarbonate plastics
and epoxy resins which find applications in various industries such as consumer
goods, electrical & electronics, automotive and construction. Polycarbonate
plastics made from BPA provide protection from heat and impact due to their
strength and durability properties. These plastics are used to make products
like food containers, water bottles, sports equipment, medical devices,
dashboards and more. Epoxy resins derived from BPA are used as protective
coatings in numerous applications such as can linings, floor paints and
countertops due to their water and chemical resistance.
The global Bisphenol A Market is estimated to be valued at
US$ 12.5 billion in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023-2031, as highlighted in
a new report published by Coherent Market Insights.
Market key trends: The bisphenol A
market growth is highly influenced by the rising demand for polycarbonate
plastics and epoxy resins from various end-use industries like consumer goods,
electrical & electronics and construction. Polycarbonate plastics have wide
applications in household appliances, electrical equipment, medical devices,
automotive interior and exterior parts. Similarly, epoxy resins are used in
surface coatings, adhesives, wind turbine blades and other applications. The
increasing consumption of polycarbonate and epoxy resin products is driving the
growth of the bisphenol A market. However, strict government regulations around
the usage of BPA due to health concerns may hamper the market growth.
Segment Analysis
The global bisphenol A market is dominated by the epoxy resins segment.
Bisphenol A is primarily used in the production of epoxy resins, which finds
widespread applications in industrial paints and coatings, adhesives, and
electrical and electronic components. With the growing infrastructural and
industrial activities globally, the demand for epoxy resins from end-use
industries has increased significantly over the years. This will continue
driving the sales of bisphenol A via the epoxy resins segment during the
forecast period.
Key Takeaways
The
global
bisphenol A market analysis is expected to witness high growth. The
global Bisphenol A Market is estimated to be valued at US$ 12.5 billion in 2023
and is expected to exhibit a CAGR of 6.1% over the forecast period 2023-2031.
Regional analysis indicates that Asia Pacific dominates the
global market and is expected to maintain its lead position over the forecast
period. Continuous infrastructure development and industrialization in China,
India, and other Asian countries are fueling the demand for bisphenol A in the
region. China holds the major share of the Asia Pacific bisphenol A market due
to the presence of a thriving manufacturing industry and massive infrastructure
spending in the country. India is anticipated to emerge as one of the
fastest-growing regional markets over the next few years.
Key players related content comprises: Key players operating in the bisphenol A
market are China National BlueStar (Group) Co, Ltd., Kumho P&B Chemicals,
LG Chem Ltd., Mitsui Chemicals, SABIC and Samyang Innochem Corporation. China
National BlueStar (Group) Co, Ltd. is currently the leading producer of
bisphenol A globally.
Get more insights on this topic: https://www.newswirestats.com/bisphenol-a-market-industry-insights-trends-bisphenol-a-market/
Explore more information on this topic, Please visit:
https://masstamilan.in/savoring-life-the-essential-role-and-health-benefits-of-spices-in-everyday-cuisine/
Comments
Post a Comment