The Global Market for Bisphenol A is Forecast to Reach 7.3 Million Metric Tons by 2020
Increasing Consumption
in Developing Countries Drives the Global Bisphenol A Market, According to a
New Report by Global Industry Analysts, Inc.
GIA announces the
release of a comprehensive global report on Bisphenol A. The
global market for Bisphenol A is forecast to reach 7.3 million metric tons by
2020, driven by the steadily increasing consumption in developing countries
and demand patterns in the polycarbonate resins end-use market.
Although Bisphenol
A (BPA) was discovered as early as 1891, the chemical compound came into
commercial use in 1957 through the efforts of Bayer and GE. Since the 1960s,
the industrial chemical has been widely used as a key building block for
polycarbonates plastics and epoxy resins that find application in diverse array
of industrial and commercial applications ranging from humble water bottles to
wind mill blades. The lightweight, clear, shatter-proof qualities of
polycarbonate plastics synthesized using BPA found application in the
production of automobiles parts, compact discs and digital video disks, medical
devices, food and beverage containers, electronic equipment, corrective and
protective eyewear, and equipment for sports safety. Epoxy resins produced from
BPA soon became ubiquitous as the inner lining for food and beverage
containers, as well as applications such as adhesives, electronic/electrical
laminates, and paving and flooring applications, primarily utilized in the
aerospace, construction, and automotive industries.
Future growth in
the market will be driven by the increasing usage of BPA in rotor blade
composites that are employed in wind power generation. With large-scale
investments across the globe, wind energy is expected to account for a
significant share of the global energy mix in the long run and in turn is
poised to propel growth in the BPA segment. Additionally, strong global
appetite for BPA-based polycarbonate plastics and
epoxy resins continues to spur growth in the global market. In terms of the
end-use markets, Bisphenol A is becoming increasingly mired in controversies in
the food and beverage sector, with a growing body of research linking the
industrial chemical to cancer and other adverse health conditions. More
governments are under pressure from negative media reports, protests by
environmental activists, and public concern, to gradually phase-out the use of
Bisphenol A. The issue is becoming more complex with more national and state governments across the world gearing up to ban all food and beverage packaging applications
of BPA, including the use of the epoxy resin as a hardener for plastics, and
lining for canned foods and beverages, water bottles, and compact discs.
Despite concerns
about the toxicity of BPA, the market is not expected to incur drastic losses as
regulatory authorities across the world are delaying the total ban on BPA in
food and beverage applications to enable packaging materials manufacturers to
come up with alternatives solutions and gradually phase out BPA usage within a
feasible time frame.
As stated by
the new market research report on Bisphenol A, Asia-Pacific represents the largest market worldwide. The region is also forecast to emerge as the fastest
growing market with a CAGR of 5.0% over the analysis period. Fast-paced
growth of the domestic electronics, IT and construction sectors, surging demand
for wind energy, steadily growing economies, rising automobile production, and increasing
construction activity represent key growth drivers in the region.
Key players covered
in the report include Bayer AG, Chang Chun Plastics Co. Ltd., Haverhill
Chemicals LLC, Kumho P&B Chemicals Inc., LG Chem Ltd., Mitsubishi Chemical
Corporation, Mitsui Chemicals Inc., Momentive Specialty Chemicals Inc., Nan Ya
Plastics Corporation, SABIC, and The Dow Chemical Company.
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