Bisphenol Market - Forecast(2023 - 2028)

The Bisphenol Market size is estimated to reach US$17.5 million by 2027, after growing at a CAGR of 7.6% during the forecast period 2022-2027. Bisphenol is a colourless crystalline solid belonging to an organic compound family which is primarily used as a strengthener in polycarbonate plastics and epoxy resins. Bisphenols such as bisphenol A, bisphenol F, bisphenol S, bisphenol AF and others have rising demand across industries, majorly construction. The surging utilization in building and construction for cladding panels, sheets, windows and others act as a driving factor in the bisphenol industry. According to the United States Census Bureau, the total construction spending in the US increased from a seasonally adjusted annual rate of US$1.62 million in May 2021 to US$1.77 million in May 2022. In addition, growing demand from electronics for a wide range of applicability in consumer electronic devices due to its high-performing features is fueling its growth scope. Thus, the Bisphenol industry is anticipated to grow rapidly and contribute to the Bisphenol market size during the forecast period.

By Form: Crystal, Powder and Flakes.

By Application: Flame Retardants, Dental Sealants, Polycarbonate Resins, Epoxy Resins, Brake Fluids, Consumer Electronics and Others.

By End-use Industry: Automotive [Passenger Vehicles (PVs), Light Commercial Vehicles (LCVs) and Heavy Commercial Vehicles (HCVs)], Building & Construction (Residential, Commercial, Industrial and Infrastructural), Aerospace (Military, Commercial and Others), Electrical & Electronics (Computers, Cell Phones and Others) and Others.

By Geography: North America (the USA, Canada and Mexico), Europe (the UK, Germany, France, Italy, the Netherlands, Spain, Belgium and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and the Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and the Rest of South America) and the Rest of the World [the Middle East (Saudi Arabia, the UAE, Israel and the Rest of the Middle East) and Africa (South Africa, Nigeria and the Rest of Africa)].

Asia-Pacific held the largest Bisphenol Market share of up to 37% in 2021. The lucrative growth scope for bisphenol in this region is influenced by the presence of major industries such as construction, electronics, automotive and others, an established manufacturing base and urbanization. The lucrative growth for the building & construction sector in APAC is influenced by factors such as rising infrastructural development, flourishing residential construction activities and urbanization. For instance, according to the National Investment Promotion & Facilitation Agency, the Indian construction industry is expected to reach US$1.4 trillion by 2025. According to the International Trade Administration (ITA), the construction sector in China is expected to grow at an annual average rate of 8.6% between 2022 and 2030. With fast-paced growth in the construction sector in APAC, the applications of bisphenol for cladding panels, paints & coatings, facades and others are projected to rise in Asia-Pacific. This, in turn, is anticipated to boost the growth of the Bisphenol market over the forecast period.

Bisphenol such as bisphenol A, bisphenol F and others have significant demand in the electronics sector for a wide range of applicability in electronic devices such as digital disks, PCBs, fuse boxes and others. The electrical & electronics sector is rapidly flourishing due to growth factors such as a rise in consumer electronics manufacturing, demand for smart home appliances and rising income level. 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. According to the LG Electronics annual report, the sales of electronic appliances increased by 28.7% to reach US$65.32 billion in 2021 against 2020. Thus, with the rapid increase in electronics production and growth scope, the applicability of bisphenol in various electronic devices is growing. This, in turn, is driving the Bisphenol industry.

Regulations and Health Concerns Associated with Bisphenol:

The negative health impacts associated with endocrine disruptors such as Bisphenol A, Bisphenol F and others create a growth-restraining impact on the bisphenol market. The issues such as obesity, cardiovascular diseases, miscarriage, diabetes and others are seen as a result of harmful exposure to such chemicals. Further, this chemical comes under extreme security in Europe by Europe Chemical Agency. The European Union and Canada also banned the use of bisphenol A in baby bottles. Due to such factors, the Bisphenol market anticipates a major slowdown and growth hamper.