Global Bisphenol A (BPA) Market - Segmented by Application and Geography - Growth, Trends, and Forecast (2018 - 2023)
The global bisphenol A (BPA) market is estimated to witness a CAGR of approximately 6.5% during the forecast period. Asia-Pacific holds largest share of the bisphenol A market. The market is projected to be driven by the increasing demand for polycarbonate and epoxy resins in various end-user industries, such as paints & coatings, adhesives, electrical & electronics, packaging, and others.
Strong Demand for Polycarbonate Plastics
Bisphenol A is extensively used in the production of polycarbonate plastics. Polycarbonate plastics are widely used in the production of food & beverage containers, impact resistant eye glass lenses, streetlight globes, medical devices, electrical & electronic components, household appliances, automotive parts, telephones, and safety & sports helmets. Besides this, polycarbonate sheets are used in signboards, windows & window protection, roofing structures, walkways, greenhouses, and construction glazing & skylights. The increasing construction activities, and production of automotive; medical devices, tools & equipment; and containers, bottles & canned packaging for food & beverage packaging, around the world, has led to the rise in demand for polycarbonate plastics, which is driving the demand for BPA to produce polycarbonate plastics.
Rising Concerns over Health Hazards Posed by BPA
With several studies, it is found that BPA application in the plastics used in food containers, baby toys, water bottles, etc. can cause health hazards to babies, as well as adults. The studies revealed that use of BPA-based products in such products can cause variety of health issues, from prostate cancer & breast cancer to early puberty, decreased fertility, neurological problems, and changes immune system. With all such increasing concerns among the consumers, the demand for BPA free products has started increasing, which is likely to serve as a restraint for the market.
Asia-Pacific to Dominate the Market
Asia-Pacific holds the largest share of the market and is projected to witness highest growth during the forecast period. Growing industrial applications of BPA products, primarily in countries, such as, China, India, and Japan, are expected to drive the Asia-Pacific BPA market. With the increasing investments and rapid growth in the industries, such as food & beverage, electronic devices, etc. and boom in construction activities in the region, the application of bisphenol A is expected to increase in the production of food & beverages containers, polycarbonate sheets and electronic devices, further driving the market demand during the forecast period. Besides this, North America and Europe are expected to register moderate growth, with significant applications of BPA in automotive and wind energy sectors, during the forecast period.
Key Developments in the Market
May 2017: LG Chem Ltd. started commercial operation of a new unit, which utilizes Badger’s proprietary advanced residue recovery technology, in the LG Chem’s existing bisphenol-A (BPA) facilities in Yeosu, Korea
Major Players - Convestro AG, DowDuPont Inc., Mitsui Chemical Inc., SABIC Innovative Plastics and LG Chem Ltd., amongst others.
Reasons to Purchase this Report
How the strong demand for polycarbonate plastics will drive the market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Which application is expected to dominate the market
Which region is expected to witness fastest growth during the forecast period
Identifying the latest developments, market shares and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet in excel
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