BISPHENOL A
Global market to reach over USD 20 bn by 2020 / Volumes forecast to grow at 4.7% annually / Polycarbonate is largest application segment / Grand View Research report
The global market for bisphenol A (BPA) is forecast to reach USD 20 bn by 2020, according to a recently published study, “Bisphenol A? (BPA) market analysis by application (appliances, automotive, consumer, construction, electrical & electronics) and segment forecasts to 2020,” from Grand View Research (San Francisco, California / USA; www.grandviewresearch.com). Growing demand for polycarbonates in consumer goods and medical devices is predicted to be a key driver for the gains.
In addition, the growing construction industry and increasing BPA demand in the automotive industry are expected to further augment market growth. However, health hazards associated with the use of BPA resulting in regulatory pressure are expected to be a key challenge for the industry over the next six years, the researcher said.
Polycarbonate was the largest application segment, accounting for 5.08m t of BPA demand in 2013; followed by epoxy resin, with market volume estimated at 1.41m t in 2013. Superior performance of epoxy resins, in terms of thermal stability, corrosion protection and mechanical strength for industrial applications is expected to create demand growth for BPA, a key monomer for these resins.
The global demand for BPA was 7m t in 2013 and is expected to reach 9.62m t by 2020, growing at a compound annual growth rate (CAGR) of 4.7% from 2014 to 2020, the report says. Asia Pacific was the largest regional market for BPA with 54% of market share and revenue of USD 7 bn in 2013, thanks to the presence of a large number of end-user industries coupled with low labour, raw material and operating costs in the region.
The researcher said that North America and Europe are expected to experience below average growth, at an estimated CAGR of 4.5% and 4.3% respectively from 2014 to 2020, as legislation in Canada and the EU restricts the use of the chemical. The global BPA market is somewhat fragmented, with the top four companies accounting for less than 45% of the market in 2013, the report concludes.
In addition, the growing construction industry and increasing BPA demand in the automotive industry are expected to further augment market growth. However, health hazards associated with the use of BPA resulting in regulatory pressure are expected to be a key challenge for the industry over the next six years, the researcher said.
Polycarbonate was the largest application segment, accounting for 5.08m t of BPA demand in 2013; followed by epoxy resin, with market volume estimated at 1.41m t in 2013. Superior performance of epoxy resins, in terms of thermal stability, corrosion protection and mechanical strength for industrial applications is expected to create demand growth for BPA, a key monomer for these resins.
The global demand for BPA was 7m t in 2013 and is expected to reach 9.62m t by 2020, growing at a compound annual growth rate (CAGR) of 4.7% from 2014 to 2020, the report says. Asia Pacific was the largest regional market for BPA with 54% of market share and revenue of USD 7 bn in 2013, thanks to the presence of a large number of end-user industries coupled with low labour, raw material and operating costs in the region.
The researcher said that North America and Europe are expected to experience below average growth, at an estimated CAGR of 4.5% and 4.3% respectively from 2014 to 2020, as legislation in Canada and the EU restricts the use of the chemical. The global BPA market is somewhat fragmented, with the top four companies accounting for less than 45% of the market in 2013, the report concludes.
27.08.2014 Plasteurope.com [229119-0]
Published on 27.08.2014