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BAPP Market Overview
The BAPP Market size is estimated to reach more than US$150 million by 2027, after growing at a CAGR of more than 6% during the forecast period 2022-2027. The BAPP or 2,2-Bis[4-(4-aminophenoxy) phenyl]propane, is a monomer, which is used to prepare polyimide and is synthesized from bisphenol A and p-chloronitrobenzene via nucleophilic substitution reaction. The BAPP is utilized for applications in polyimide monomers, semiconductors and various plastic products, which act as a driving factor in the BAPP industry. In addition, growing end-use industries such as aerospace, electronics, plastics, pharmaceuticals and others are fueling the growth scope for BAPP. According to the India Brand Equity Foundation (IBEF), the consumer electronics and appliances sector accounted for US$9.84 billion in 2021 and is expected to reach US$21.19 billion by 2025. Further, disruption caused by the covid-19 outbreak impacted the growth of the BAPP market due to disturbance in manufacturing, supply chain disruption, falling demand from major end-use industries and other lockdown restrictions. However, significant recovery is boosting the demand for BAPP for a wide range of applicability and utilization in medical, electronics and other sectors. Thus, the BAPP industry is anticipated to grow rapidly and contribute to the BAPP market size during the forecast period.
BAPP Market Report Coverage
The “BAPP Market Report –
Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the
following segments in the BAPP Industry.
Key Takeaways
- Asia-Pacific dominates the BAPP Market, owing to growth factors such as the flourished electronics production, rising aerospace base, flourishing demand for plastics and industrialization, thereby boosting growth in this region.
- The flourishing electronics sector across the world is propelling the demand for BAPP for major utilization in semiconductors, smartphones, integrated circuits and others, thereby contributing to the BAPP market size.
- However, the toxicity and health hazards associated with the BAPP or 2,2-Bis[4-(4-aminophenoxy)phenyl] propane act as a challenging factor in the BAPP industry.
Figure: BAPP Market Revenue Share by Geography, 2021 (%)
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BAPP Market Segment Analysis – by Application
The polyimide monomers segment held a significant BAPP Market
share in 2021 and is projected to grow at a CAGR of 6.1% during the forecast
period 2022-2027. BAPP or 2,2-Bis[4-(4-aminophenoxy) phenyl]propane is widely
utilized in polyimide resins for applicability in major industries, majorly
electronics. In addition, the demand for polyimide resin or monomers based on
BAPP is significantly rising in the medical sector. The medical industry
experiences lucrative growth owing to factors such as rising innovative medical
technologies, high spending on drug delivery systems and urbanization. For
instance, according to the Government of Canada, Canadian drug sales increased
from US$28.3 billion in 2018 to US$29.9 billion in the year 2020. According to
the International Federation of Pharmaceutical Manufacturers & Associations
(IFPMA), the estimated growth of the pharmaceutical sector for 2022 was 5.4% in
North America. With the rapid growth scope across major end-use sectors, the
applicability of BAPP in polyimide monomers is anticipated to grow, thereby
boosting the growth scope over the forecast period.
BAPP Market Segment Analysis – by End-use Industry
The electronics held a significant BAPP Market share in 2021 and
is projected to grow at a CAGR of 6.7% during the forecast period 2022-2027. BAPP
or 2,2-Bis[4-(4-aminophenoxy) phenyl]propane has growing applicability in the
electronics sector for circuits, semiconductors, smartphones and others. The
lucrative growth prospect in the electronics sector is influenced by factors
such as demand for smart home appliances, consumer electronics and
industrialization. For instance, according to OBERLO, the total revenue of consumer
electronics in the U.S. is expected to increase by 7.5% in 2023. According to
the LG Electronics annual report, the sales of electronic appliances increased
by 28.7% to reach US$65.32 billion in 2021 over 2020. With the robust scope for
electronics production, the utilization of BAPP in smartphones, semiconductors
and others is rising due to its chemical resistance, corrosion-inhibiting features
and others; thereby the growth scope for BAPP in the electronics industry is
anticipated to rise during the forecast period.
BAPP Market Segment Analysis – by Geography
Asia-Pacific held the largest BAPP Market share in 2021 up to 44.8%. The robust growth of BAPP in this region is influenced by the rising production of electronics, established the base for aerospace, the flourishing pharmaceutical sector and urbanization trends. The electronics sector is significantly accelerating in APAC due to factors such as robust demand for consumer electronic devices, soaring production base and urbanization. According to the Japan Electronics and Information Technology Industries Association (JEITA), the production of consumer electronic equipment in Japan increased from US$215 million in January 2022 to US$ 230 million in March 2022. With the robust growth scope for electronics in APAC, the demand for polyimide in films, semiconductors, smartphones, integrated circuits and others is rising, which, in turn, is anticipated to boost its growth scope in the Asia-Pacific region over the forecast period.
BAPP Market Drivers
Bolstering Growth of the Medical & Pharmaceutical Sector:
BAPP or 2,2-Bis[4-(4-aminophenoxy) phenyl]propane
has flourishing applications in the pharmaceutical sector for drug
establishments, bleomycin BAPP and others. The medical and healthcare industry is rapidly growing due to factors
such as high spending on drugs, growing healthcare infrastructure and a high
rate of chronic health incidents. According to
the India Brand Equity Foundation (IBEF), the healthcare market in India is
expected to reach USD 372 billion by 2022. According to the
International Trade Administration (ITA), the medical devices sector in the
United States is expected to reach US$208 billion by the year 2023. According
to the European Federation of Pharmaceutical Industries and Associations
(EFPIA), the total pharmaceutical market value for EU member nations at
ex-factory prices increased from US$ 147,686 in 2019 to US$ 253,027 in 2020. With
the robust scope for the medical & pharmaceutical sector, the utilization
of BAPP in the pharmaceutical sector is increasing, which, in turn, is driving
the BAPP industry.
Flourishing Growth of the Plastics Industry:
BAPP or have a wide range of applications in the plastics sector
for producing various plastic products based on polyimide monomers and resins due
to corrosion-inhibiting, flexibility and other features. The plastics sector is
rapidly flourishing owing to the high demand and growth scope for engineering
plastics and wide utilization in aerospace, medical and others. For instance,
according to the Centre for Financial Accountability (CENFA), the CAGR for the plastics
industry is expected to grow at 3.4% between 2021 and 2028. Thus, with the rapid
growth scope of the plastics sector, the utilization of the BAPP or
2,2-Bis[4-(4-aminophenoxy) phenyl]propane is rising exponentially, thereby
driving the BAPP industry.
BAPP Market Challenge
Health Hazards Associated With BAPP:
The health
hazards associated with BAPP or 2,2-Bis[4-(4-aminophenoxy) phenyl]propane act as
a major challenging factor. The BAPP leads to severe health issues such as skin
irritation, eye irritation, respiratory issues and others. The
2,2-Bis[4-(4-aminophenoxy) phenyl]propane is dangerous to human health when
swallowed or contacted. Due to arising health issues and hazardous impacts, the
demand and applicability scope for BAPP face growth restraint, thereby the BAPP
market anticipates a major slowdown.
BAPP Industry Outlook
Technology launches, acquisitions and R&D activities are key
strategies adopted by players in the BAPP Market. The top 10 companies in the BAPP
Market are:
- SEIKA Group
- UIV Chem
- Nanjing Leading Chemical
- Changzhou Sunshine Pharmaceutical
- Wilshire Technologies
- Thermo Fisher Scientific
- Alfa Aesar
- TCI Chemicals
- Spectrum Chemical
- Parchem
Relevant Reports
Report
Code: CMR 0494
Report
Code: CMR 46146
Report Code: CMR 0065
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