Bisphenol A Market is Estimated To Witness High Growth Owing To Recycling of Bisphenol A Products

Market Overview:

The Bisphenol A market includes products like polycarbonate, epoxy resins and others that are used for various applications such as consumer goods, construction, electrical & electronics and others. Bisphenol A provides properties like high heat resistance, impact resistance and durability in various end use products. With growing applications, the demand for Bisphenol A is increasing.

Market key trends: One of the key trends witnessed in the Bisphenol A market is increased focus on r

ecycling of Bisphenol A-containing products. With growing environmental concerns, companies are exploring ways to recycle polycarbonate waste and recover Bisphenol A monomer from it. Researchers are working on chemical processes that can convert polycarbonate plastic waste back to Bisphenol A monomer. This will help reduce waste and reliance on virgin Bisphenol A. Recycling of Bisphenol A-containing products is expected to drive sustainable growth in the market over the forecast period.

Porter’s Analysis
Threat of new entrants: The presence of well-established players makes it difficult for new players to enter the market. They require huge capital investments for infrastructure and R&D.

Bargaining power of buyers: The buyers have moderate to high bargaining power as the market is dominated by major players. Buyers can negotiate on price and quality standards.

Bargaining power of suppliers: The suppliers have low to moderate bargaining power due to availability of close substitute materials. Suppliers depend majorly on key players for bulk sales.

Threat of new substitutes: Alternate materials like pthalates and epoxy resins pose threat of substitution.

The global Bisphenol A Market Growth is estimated to be valued at US$ 7.03 Bn in 2023 and is expected to exhibit a CAGR of 8.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

SWOT Analysis
Strength: High demand from construction and automotive industries. Wide applications in polycarbonate plastics, epoxy resins and more.

Weakness: Concerns over BPA’s effects on human fertility and development. Stringent regulations over its use in food packaging and baby products.

Opportunity: Growing demand for unsaturated polyester resins in emerging economies. Potential use in medical devices and equipment.

Threats: Development of bio-based substitutes. Volatility in raw material prices.

Key Takeaways
The global Bisphenol A market size is expected to reach US$ 7.03 Billion by 2030, exhibiting a CAGR of 8.3% during the forecast period due to the increasing demand from polycarbonate plastics and epoxy resins industries.

The Asia Pacific region dominates the global market with over 50% share owing to presence of emerging economies like China, India with huge production capacities. China is the largest producer and consumer of Bisphenol A globally.

Key players operating in the Bisphenol A market are Chang Chun Group, Covestro AG, Dow, Hexion, Kumho P&B Chemicals Inc., LG Chem, Lihuayi Weiyuan Chemical Co. Ltd, Merck KGaA, Mitsubishi Chemical Corporation, Mitsui Chemicals Corporation., Nan Ya Plastics Industry Co. Ltd, Nantong Stars Synthetic Material Ltd, Nippon Steel Chemical & Material Co. Ltd, PTT Phenol Company Limited, SABIC, Samyang Holdings Corporation, Shanghai Sinopec Mitsui Chemicals Co. Ltd, and Sinopec Mitsubishi Chemical Polycarbonate (Beijing) Co., Ltd. Major players are focusing on capacity expansions and investments in emerging markets to strengthen their market position.

Read More: https://www.ukwebwire.com/bisphenol-a-market-is-estimated-to-witness-high-growth-trend-and-share-analysis/

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