The Total Addressable Market (TAM) for Bisphenol-A (BPA) had a share of 7,082 metric tons in 2022. It is expected to reach 12,169 metric tons by 2031, growing at a CAGR of 6.2% during the forecast period (2022-2031). Large-scale production of the chemical bisphenol A (BPA) is done primarily to make polycarbonate plastics. It can be found in many items, such as shatterproof windows, eyewear, water bottles, and epoxy resins used to coat some metal food cans, bottle tops, and water supply pipes. Most people's eating habits are the primary way they are exposed to BPA. Although other potential exposure sources like air, dust, and water exist, most daily human exposure to BPA comes from food and drinks. Bisphenol A may seep into food through the protective internal epoxy resin coatings of canned goods and consumer products like polycarbonate tableware, food storage containers, water bottles, and baby bottles.
Polycarbonate plastic is created using a chemical called bisphenol A (BPA). Hard plastic products like baby bottles, reusable water bottles, food containers, pitchers, tableware, and other storage containers are made of polycarbonate plastic. Polycarbonate plastic is also used in many other products, including eyeglass lenses, CDs, DVDs, computers, appliances, sports safety gear, and many more. Although BPA is primarily used to create polycarbonate plastics, it may also be present in other types of plastic. Strong demand for polycarbonate plastics and rising demand for epoxy resins from various end-user industries are the key factors boosting the Bisphenol-A market.
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The Demand for Polycarbonate Plastics
Plastics, including polycarbonate resins, are created using bisphenol A. Polycarbonate is used as a case or shell for many consumers' electronic products because of its strength and toughness. It can also be used as a headlight lens, bulletproof glasses, a canopy, and other things because of its optical clarity. The primary product type used as an intermediary in the creation of polycarbonate plastic is bisphenol A (BPA). Electronics, home appliances, eyeglasses, other optical devices, medical equipment, building materials, and many other end-use industries drive demand for polycarbonate resins and plastics. Several manufacturers intend to increase their polycarbonate production to keep up with the rising demand.
A new polycarbonate film production line was inaugurated by Covestro in 2020 at the Map Ta Phut Industrial Estate in Thailand. The new capacity was intended to meet the Asia-Pacific region's growing demand for polycarbonate films. The automotive, telecommunications, medical technology, and identification document industries use films the most. With a total investment of more than EUR 100 million, the expansion was a component of the company's global effort to increase polycarbonate film capacity. Additionally, the plant's expansion enables it to produce materials of a higher caliber. As a result, there will likely be an increase in demand for bisphenol A (BPA) during the forecast period due to the rising production of polycarbonate globally, particularly in Asian nations.
The Demand for Epoxy Resins
The expanding demand for epoxy resins from the electrical and electronics industry has increased the demand for bisphenol A. Because of their superior electrical and mechanical qualities, chemical resistance, and ability to withstand high temperatures, epoxy resins are frequently used in the electronics industry. Epoxy systems can be used for laminating purposes and to create high-performance electrical and electronic components from various insulating materials. They have advantages in processing and performance, such as short cycle times. Epoxy resins shield electrical parts from contaminants, moisture, and short circuits. Common epoxy resins dissipate heat from components more effectively than air because they have a higher thermal conductivity than air, thereby extending service life.
The demand for electronic devices and appliances has significantly increased due to the upcoming electronic revolution in industries, the expansion of the service sector, and ongoing innovation and development of new consumer electronics globally. During the anticipated period, it is likely to continue to grow. More than 70% of the world's electronics are produced in Asia-Pacific, one of the top manufacturing regions in the world. Various electrical supplies and components are produced in nations like South Korea, Japan, and China for use in various industries worldwide. Due to government initiatives with programs like "Make in India" to increase the nation's independence, electrical and electronic products in India are anticipated to rise quickly.
Under India's plan to increase domestic smartphone production over the following years, 16 other companies, including Samsung, Apple's contract manufacturing partners, and three other companies, received incentives totaling USD 6.65 billion. Additionally, BPA is used in epoxy resins used in composite rotor blades. Since rotor blades use about two-thirds of the epoxy resins used in wind turbines, epoxy resins can be used in composites and adhesives to create wind rotor blades and other structural elements. As a result of these factors, the demand for bisphenol A (BPA) is predicted to expand during the forecast period due to the demand for epoxy resins from other industries like electronics and construction.
Strict Regulation on the Usage of BPA
Plastics, receipts, food packaging, and other consumer goods made from polycarbonate and epoxy resin primarily use the chemical Bisphenol A (BPA). There is a great deal of discussion surrounding the effects of bisphenol A on human health. The primary way that bisphenol A gets into food is through the lining of beverages and food cans. Foods are most frequently contaminated with BPA during production, handling, packing, and transportation. BPA has been discovered in non-food sources in lower concentrations than in food sources. Consumer reports noted that BPA levels discovered in a range of canned goods and beverages exceeded the Food and Drug Administration's "Cumulative Exposure Daily Intake" limit.
Additionally, it was discovered that exposing children as young as 3, 5, and 7 to higher BPA concentrations can result in asthma later in life. As a result, the use of BPA in baby feeding bottles has been outlawed in numerous nations, including the United States, Canada, China, France, and other parts of Europe. The first nation to declare BPA toxic in Canada. The government outlawed the lining of canned goods and baby bottles containing BPA, a plastic chemical present in some polycarbonate bottles, in 2008. The European Union announced the ban on BPA use in producing plastic for baby feeding bottles in the Commission Implementing Regulation. These rules could limit the growth of the market for bisphenol A.
Growing Investments are Usage of Bisphenol A
Manufacturers have stopped using BPA in many household products in the past ten years due to health concerns, especially in the food and beverage industry. Applications of bisphenol A (BPA) in the construction industry are growing, and numerous innovations have been made, including the creation of novel multifunctional flame-retardant polymer composites that perform better in a fire. Construction materials' flame-retardant qualities are enhanced by the use of BPA. Flame retardant polymer composites are created by infusing woven carbon fibers with a crosslinked diglycidyl ether of bisphenol-A epoxy matrix using the resin infusion under the flexible tooling (RIFT) process.
BPA is also in many polymers or derivatives used in many medical applications, such as dental adhesives and sealants, incubators for newborns, hemodialyzers, and equipment for cardiopulmonary bypass. As a result, the demand for BPA in these applications is rising. Numerous businesses have planned capacity expansions and investments to produce BPA in response to the rising demand for the chemical from numerous applications, including polycarbonates, epoxy resins, and others. The manufacturers intend to increase their bisphenol A production capabilities to meet the rising demand for PC production and epoxy resin. These factors are going to create more opportunities for the bisphenol-A market.
The global bisphenol-A market is classified based on the application and region.
Per the application, the segments are Polycarbonate Resins, Epoxy Resins, Unsaturated Polyester Resins, Flame Retardants, and Other Applications.
The polycarbonate resin section will advance at a CAGR of 6.23% and hold the highest share throughout the forecast period. Bisphenol A and carbonyl chloride react in an interfacial process to produce polycarbonate, a standard end product. Among all other applications, the primary market need for bisphenol A is using polycarbonate resins (BPA). In beverage bottles and containers made of polycarbonate, bisphenol A serves as a structural component. Applications for building and construction also frequently use polycarbonates.
During the forecast period, polycarbonates are expected to dominate the market due to their advantages over conventional materials (such as glass and other plastics). Polycarbonates also enable energy absorption, weight reduction, shock absorption for bumpers, and restriction of explosion risks in fuel tanks, seat belts, airbags, door and seat assemblies, subsystems, bumpers, under-bonnet components, exterior trim, and various other applications in the automotive industry.
The epoxy resin will hold the second-largest share. The most frequently used epoxies are those made of epoxy resins based on bisphenol A-epichlorohydrin. In general, compounds with active hydrogen groups react with epichlorohydrin to produce epoxy resins, which are then dehydrohalogenated. Epichlorohydrin and bisphenol A are the primary ingredients used in the commercial synthesis of diglycidyl ether of bisphenol A (DGEBA). Epoxy resins based on bisphenol have many uses, including reactive intermediates, adhesives, electrical insulating materials, and coatings. Additionally, they coat the interior of metal products like water supply lines, bottle tops, and food cans.
The region-wise segmentation of the global bisphenol-A market includes North America, South America, Europe, Asia Pacific, and MEA.
The Asia Pacific and North America will dominate the regional market
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The Asia Pacific is forecasted to command the regional Bisphenol-A market while proliferating at a CAGR of 7.11%. China is a significant shareholder in the region. The domestic demand for BPA is anticipated to be supported by a strong construction sector, rising auto production, and an expanding electrical & electronics sector, all of which are favorable factors for the market's expansion in the years to come. Although the construction sector expanded quickly in 2019, growth was slower than in 2018. When there have been significant economic slowdowns, the construction sector has helped sustain growth.
The nation has the most significant construction market in the world, accounting for 20% of all global construction investments. China is projected to spend nearly USD 13 trillion on construction by 2030. China's National Bureau of Statistics reports that the value of the nation's construction output increased from CNY 9.6 trillion in 2010 to CNY 24.84 trillion in 2019. China is among the major markets for domestic air travelers and is one of the biggest aircraft manufacturers. With more than 200 small aircraft parts manufacturers, the nation's manufacturing sector for aircraft parts and assemblies has expanded quickly. One of the most comprehensive initiatives to reach the pinnacle of aerospace development and production can be seen in the Chinese aerospace policy. Growth in the nations of the region will therefore have a positive effect on the local Bisphenol-A market.
North America will likely expand at a CAGR of 6.15% and have a share of 11,274 metric tons. After China, the United States ranks second in automotive production and is also the region's top consumer of polycarbonate plastics. Plastic products can be made more durable and heat resistant by using bisphenol A. So, among other things, it is widely used in electronic components, toys for kids, and medical devices. Due to the electronics industry's rapid pace of innovation, technological advancement, and R&D activities, there is also a sizable demand for newer and faster electronic products. The emphasis on creating high-end products has led to a significant increase in the number of manufacturing facilities and development hubs in the United States. Throughout the forecast period, this is anticipated to boost the bisphenol-A market.