Bisphenol A Demand to Grow, Owing to Increasing Applications of Epoxy Resins and Polycarbonates in Automotive and Electronics
Thursday 25 Feb 2016
Industry Experts introduced the new market research report ’Bisphenol-A – A Global Market Overview’. The new report reveals that the market for Epoxy Resins application of bisphenol-A is projected to witness the fastest growth during the analysis period 2016-2022 with a CAGR of 5.7% and to reach US$7.3 billion by 2022 from an estimated US$5.2 billion in 2016. The application is also expected to register the fastest growth in terms of volume consumption at a CAGR of 5.1% during the same period to reach 3.5 million metric tons by 2022.
Global consumption of bisphenol-A (BPA) is being spurred by a stable growth in demand from emerging markets, with China, India, Mexico and Russia expected to witness above average growth prospects. Coupled with this trend is a growing demand for the compound in its two major application areas, viz., epoxy resins and polycarbonates. Prospects for future demand for BPA are likely to be bolstered by the growing utilization of this chemical in rotor blade composites that find application in windmills. Wind energy has been garnering widespread global attention as an eco-friendly option in the energy mix and requires the use of strong and resilient wind turbine rotor blades that are reinforced using epoxy resins.
On another note, the use of BPA in food and beverage applications is being vigorously scrutinized, with several studies undertaken indicating a close association between the industrial chemical and adverse health effects, including cancer. Increasing pressure from the media, environmental activists and concerned public in regard to gradually phasing out bisphenol-A from food and beverage applications has forced governments across the globe to take corrective actions. A number of countries, such as some in the European Union, the United States and Canada, have prohibited the use of BPA in baby feeding bottles and many more are set to follow suit.
Notwithstanding the controversy surrounding BPA’s toxic effects in food and beverage applications, demand for the chemical is not likely to undergo any drastic change in the foreseeable future. This can be attributed to a softer stance adopted by global regulatory agencies that are biding time in an endeavor to provide ample opportunity to manufacturers of packaging materials to develop alternative solutions to BPA that can enable in resolving the issue. Another factor is that food and beverage packaging materials account for only about 3-4% of the global consumption of polycarbonates and even if the use of BPA is completely discontinued in this area, the chemical will continue to be in demand in other categories of polycarbonates.
Global market for Bisphenol-A applications analyzed in this study include Epoxy Resins, Polycarbonates and Other Applications. The global markets for the above mentioned application areas are analyzed in terms of both in metric tons and USD. Global volume consumption of Bisphenol-A, estimated at 7.7 million metric tons in 2015 and forecast to be 8 million metric tons in 2016, is projected to reach 10.6 million metric tons by 2022 at a CAGR of 4.8% between 2016 and 2022. In terms of value, global demand for Bisphenol-A is likely to register a faster CAGR of 5.4% over the same period and reach a projected US$22.5 billion by 2022 from an estimated US$15.6 billion in 2015 and a forecast US$16.4 billion in 2016.
This report reviews, analyses and projects the bisphenol-A market for the period 2012-2022 globally and the regional markets including North America, Europe, Asia-Pacific and Rest of World. The regional markets further analyzed for 12 independent countries across North America – The United States, Canada and Mexico; Europe – France, Germany, Italy, Russia and the United Kingdom; and Asia-Pacific – China, India, Japan and South Korea.
This 194 page global market research report includes 146 charts (includes a data table and graphical representation for each chart), supported with meaningful and easy to understand graphical presentation, of market numbers. This report profiles 11 key global players and 26 major players across North America – 5; Europe – 3; Asia-Pacific – 16; and Rest of World – 2. The research also provides the listing of the companies engaged in manufacturing and supply of Bisphenol-A. The global list of companies covers the address, contact numbers and the website addresses of 74 companies.
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