Bisphenol A (BPA) - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)
The Bisphenol A Market size is estimated at 8.18 Million tons in 2024, and is expected to reach 11.23 Million tons by 2029, growing at a CAGR of 6.56% during the forecast period (2024-2029).
Key Highlights
In the medium term, soaring demand from the polycarbonate sector and increasing demand for epoxy resin production are likely to drive the demand for Bisphenol-A.
However, increasing regulations in the food and beverage industry on the use of Bisphenol-A pose major restraints to the growth of the market studied.
On the other hand, potential market demand for bio-based Bisphenol-A is likely to create lucrative market opportunities in the coming years.
Asia-Pacific is expected to dominate the market and is anticipated to witness the highest CAGR during the forecast period.
Bisphenol-A Market Trends
Increasing Demand for Polycarbonate Resins
Polycarbonate is mainly formed after the reaction of Bisphenol-A with carbonyl chloride in an interfacial process. Among all other application areas, polycarbonate resin application provides a significant market demand for Bisphenol-A (BPA).
Bisphenol-A plays a critical role in enhancing the properties of polycarbonate resins. BPA contributes to the strength and durability of polycarbonate plastics. Polycarbonates made with BPA are known for their impact resistance, which makes them suitable for applications such as safety glasses, bulletproof windows, and medical devices.
Polycarbonates containing BPA have a high glass transition temperature, meaning they can withstand high temperatures without warping or melting. This property makes them ideal for food containers and reusable water bottles.
Polycarbonates are naturally transparent, and BPA helps to maintain this clarity. This allows the production of clear containers and lenses.
Polycarbonates are high-performing thermoplastics that are widely used in construction applications. Sheets manufactured using Polycarbonates are widely used as a substitute for glass in a variety of window and skylight applications. Additionally, they are used as barrel vaults, opaque cladding panels, canopies, facades and signage, translucent walls, sports stadium roofs, louvers, and roof domes.
The application of polycarbonate materials in greenhouses has increased in recent years. European countries, such as Germany, France, the Netherlands, and Spain, have larger areas for greenhouse cultivation.
Some of the key companies in the polycarbonate market include Mitsubishi Engineering-Plastics Corporation, Covestro AG, SABIC, Lotte Chemical Corporation, and Teijin Limited. These companies are investing heavily in mergers, acquisitions, and expansion, which are projected to boost the demand for BPA in polycarbonates. For instance, in March 2024, Covestro AG, one of the world's leading manufacturers of high-quality polymer materials, inaugurated its first plant to produce polycarbonate copolymers on an industrial scale at its Antwerp, Belgium site.
In September 2023, Saudi Arabian chemical giant SABIC and Chinese oil and gas corporation Sinopec announced the launch of a new polycarbonate (PC) plant through their joint venture named Sinopec SABIC Tianjin Petrochemical (SSTPC). With an annual designed capacity of 260 kilotons, the new PC plant is intended as a central piece of SABIC's PC growth strategy in China, providing opportunities for further collaborations with global and local customers.
In March 2023, Covestro expanded its production capacity for polycarbonate films in Thailand, primarily used in identity documents, automotive displays, and electrical and electronic applications. With these developments, the company's additional capacity now exceeds 100,000 metric tons annually.
Therefore, the factors mentioned above are expected to impact the demand for BPA in polycarbonate applications during the forecast period.
Asia-Pacific is Expected to Dominate the Market
Asia-Pacific is the largest manufacturer and consumer of Bisphenol-A (BPA) in different end-user industries. Hence, it is expected to dominate the market.
In recent years, there has been a noticeable trend of increasing investments in new Bisphenol-A (BPA) production facilities across China, driven by various economic and industrial factors. For instance, in January 2024, Nan Ya Plastics, a subsidiary of Formosa Group, restarted operations of the BPA production plant in Ningbo, China. This plant produces about 170,000 tons of BPA per annum. The BPA produced by the company is majorly used in the polycarbonate resins that the company produces.
The demand for BPA in polycarbonate resins and plastic products in China is growing due to its expanding use in industries like automotive, electronics, and construction. In September 2023, Saudi Arabian chemical company SABIC and Chinese oil and gas corporation Sinopec announced the launch of a new polycarbonate (PC) plant through their joint venture, Sinopec SABIC Tianjin Petrochemical (SSTPC). SABIC’s portfolio of PC materials produced at SSTPC is marketed under its Lexan resin brand.
India has been importing BPA for a long time, and the fluctuations in prices and trade issues among the regions are creating a problem for the Indian BPA market. The government and a few companies have taken initiatives to manufacture BPA in India. For instance, in February 2024, Deepak Chem Tech Limited signed an MoU with the government of Gujarat with an intent to invest around INR 90,000 million to establish projects at Dahej, Gujarat. The company plans to build world-scale production facilities for advanced polymer resins, such as polycarbonate resins.
In recent years, Japan has seen a trend of BPA manufacturing plants closing down due to intense competition and low profitability, significantly impacting the industry. For instance, in February 2024, Japan’s Mitsubishi Chemical planned to permanently halt the production of BPA by the end of March 2024 at its Kurosaki plant in south Japan’s Fukuoka prefecture, citing oversupply, mainly from China. This plant produces about 120,000 tons of BPA per annum.
Hence, the above-mentioned factors are expected to impact the demand for BPA in Asia-Pacific.
Bisphenol A Industry Overview
The Bisphenol-A (BPA) market is partially consolidated in nature. Some of the key players (not in any particular order) in the market include Covestro AG, SABIC, Chang Chun Group, Mitsui Chemical Inc., and Nan Ya Plastics Corporation.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
Key Highlights
In the medium term, soaring demand from the polycarbonate sector and increasing demand for epoxy resin production are likely to drive the demand for Bisphenol-A.
However, increasing regulations in the food and beverage industry on the use of Bisphenol-A pose major restraints to the growth of the market studied.
On the other hand, potential market demand for bio-based Bisphenol-A is likely to create lucrative market opportunities in the coming years.
Asia-Pacific is expected to dominate the market and is anticipated to witness the highest CAGR during the forecast period.
Bisphenol-A Market Trends
Increasing Demand for Polycarbonate Resins
Polycarbonate is mainly formed after the reaction of Bisphenol-A with carbonyl chloride in an interfacial process. Among all other application areas, polycarbonate resin application provides a significant market demand for Bisphenol-A (BPA).
Bisphenol-A plays a critical role in enhancing the properties of polycarbonate resins. BPA contributes to the strength and durability of polycarbonate plastics. Polycarbonates made with BPA are known for their impact resistance, which makes them suitable for applications such as safety glasses, bulletproof windows, and medical devices.
Polycarbonates containing BPA have a high glass transition temperature, meaning they can withstand high temperatures without warping or melting. This property makes them ideal for food containers and reusable water bottles.
Polycarbonates are naturally transparent, and BPA helps to maintain this clarity. This allows the production of clear containers and lenses.
Polycarbonates are high-performing thermoplastics that are widely used in construction applications. Sheets manufactured using Polycarbonates are widely used as a substitute for glass in a variety of window and skylight applications. Additionally, they are used as barrel vaults, opaque cladding panels, canopies, facades and signage, translucent walls, sports stadium roofs, louvers, and roof domes.
The application of polycarbonate materials in greenhouses has increased in recent years. European countries, such as Germany, France, the Netherlands, and Spain, have larger areas for greenhouse cultivation.
Some of the key companies in the polycarbonate market include Mitsubishi Engineering-Plastics Corporation, Covestro AG, SABIC, Lotte Chemical Corporation, and Teijin Limited. These companies are investing heavily in mergers, acquisitions, and expansion, which are projected to boost the demand for BPA in polycarbonates. For instance, in March 2024, Covestro AG, one of the world's leading manufacturers of high-quality polymer materials, inaugurated its first plant to produce polycarbonate copolymers on an industrial scale at its Antwerp, Belgium site.
In September 2023, Saudi Arabian chemical giant SABIC and Chinese oil and gas corporation Sinopec announced the launch of a new polycarbonate (PC) plant through their joint venture named Sinopec SABIC Tianjin Petrochemical (SSTPC). With an annual designed capacity of 260 kilotons, the new PC plant is intended as a central piece of SABIC's PC growth strategy in China, providing opportunities for further collaborations with global and local customers.
In March 2023, Covestro expanded its production capacity for polycarbonate films in Thailand, primarily used in identity documents, automotive displays, and electrical and electronic applications. With these developments, the company's additional capacity now exceeds 100,000 metric tons annually.
Therefore, the factors mentioned above are expected to impact the demand for BPA in polycarbonate applications during the forecast period.
Asia-Pacific is Expected to Dominate the Market
Asia-Pacific is the largest manufacturer and consumer of Bisphenol-A (BPA) in different end-user industries. Hence, it is expected to dominate the market.
In recent years, there has been a noticeable trend of increasing investments in new Bisphenol-A (BPA) production facilities across China, driven by various economic and industrial factors. For instance, in January 2024, Nan Ya Plastics, a subsidiary of Formosa Group, restarted operations of the BPA production plant in Ningbo, China. This plant produces about 170,000 tons of BPA per annum. The BPA produced by the company is majorly used in the polycarbonate resins that the company produces.
The demand for BPA in polycarbonate resins and plastic products in China is growing due to its expanding use in industries like automotive, electronics, and construction. In September 2023, Saudi Arabian chemical company SABIC and Chinese oil and gas corporation Sinopec announced the launch of a new polycarbonate (PC) plant through their joint venture, Sinopec SABIC Tianjin Petrochemical (SSTPC). SABIC’s portfolio of PC materials produced at SSTPC is marketed under its Lexan resin brand.
India has been importing BPA for a long time, and the fluctuations in prices and trade issues among the regions are creating a problem for the Indian BPA market. The government and a few companies have taken initiatives to manufacture BPA in India. For instance, in February 2024, Deepak Chem Tech Limited signed an MoU with the government of Gujarat with an intent to invest around INR 90,000 million to establish projects at Dahej, Gujarat. The company plans to build world-scale production facilities for advanced polymer resins, such as polycarbonate resins.
In recent years, Japan has seen a trend of BPA manufacturing plants closing down due to intense competition and low profitability, significantly impacting the industry. For instance, in February 2024, Japan’s Mitsubishi Chemical planned to permanently halt the production of BPA by the end of March 2024 at its Kurosaki plant in south Japan’s Fukuoka prefecture, citing oversupply, mainly from China. This plant produces about 120,000 tons of BPA per annum.
Hence, the above-mentioned factors are expected to impact the demand for BPA in Asia-Pacific.
Bisphenol A Industry Overview
The Bisphenol-A (BPA) market is partially consolidated in nature. Some of the key players (not in any particular order) in the market include Covestro AG, SABIC, Chang Chun Group, Mitsui Chemical Inc., and Nan Ya Plastics Corporation.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Soaring Demand from Polycarbonate Sector
4.1.2 Increasing Demand from Epoxy Resin Production
4.2 Restraints
4.2.1 Increasing Regulations in the Food and Beverage Industry
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Feedstock Analysis
4.6 Technological Snapshot
4.7 Trade Overview
4.8 Price Overview
4.9 Regulatory Policy Analysis
5 MARKET SEGMENTATION (MARKET SIZE IN VOLUME)
5.1 By Application
5.1.1 Polycarbonate Resins
5.1.2 Epoxy Resins
5.1.3 Unsaturated Polyester Resins
5.1.4 Flame Retardants
5.1.5 Other Applications
5.2 By Geography
5.2.1 Asia-Pacific
5.2.1.1 China
5.2.1.2 India
5.2.1.3 Japan
5.2.1.4 South Korea
5.2.1.5 ASEAN Countries
5.2.1.6 Rest of Asia-Pacific
5.2.2 North America
5.2.2.1 United States
5.2.2.2 Canada
5.2.2.3 Mexico
5.2.3 Europe
5.2.3.1 Germany
5.2.3.2 United Kingdom
5.2.3.3 Italy
5.2.3.4 France
5.2.3.5 Spain
5.2.3.6 Rest of Europe
5.2.4 South America
5.2.4.1 Brazil
5.2.4.2 Argentina
5.2.4.3 Rest of South America
5.2.5 Middle East and Africa
5.2.5.1 Saudi Arabia
5.2.5.2 South Africa
5.2.5.3 Rest of Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers, Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%) Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Altivia Petrochemicals
6.4.2 Chang Chun Group
6.4.3 China National Bluestar (Group) Co. Ltd
6.4.4 China Petroleum & Chemical Corporation (SINOPEC)
6.4.5 Covestro AG
6.4.6 Dow
6.4.7 Hexion
6.4.8 Idemitsu Kosan Co. Ltd
6.4.9 Kumho P&B Chemicals Inc.
6.4.10 LG Chem
6.4.11 Lihua Yiweiyuan Chemical Co. Ltd
6.4.12 Mitsubishi Chemical Corporation
6.4.13 Mitsui Chemicals Inc.
6.4.14 Nan Ya Plastics Industry Co. Ltd
6.4.15 Nippon Steel Chemical & Material Co. Ltd
6.4.16 PTT Phenol Company Limited
6.4.17 SABIC
6.4.18 Samyang Holdings Corporation
6.4.19 Teijin Limited
6.4.20 Zhejiang Petroleum & Chemical Co. Ltd
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Potential Market Demand for Bio-Based BPA
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Soaring Demand from Polycarbonate Sector
4.1.2 Increasing Demand from Epoxy Resin Production
4.2 Restraints
4.2.1 Increasing Regulations in the Food and Beverage Industry
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Feedstock Analysis
4.6 Technological Snapshot
4.7 Trade Overview
4.8 Price Overview
4.9 Regulatory Policy Analysis
5 MARKET SEGMENTATION (MARKET SIZE IN VOLUME)
5.1 By Application
5.1.1 Polycarbonate Resins
5.1.2 Epoxy Resins
5.1.3 Unsaturated Polyester Resins
5.1.4 Flame Retardants
5.1.5 Other Applications
5.2 By Geography
5.2.1 Asia-Pacific
5.2.1.1 China
5.2.1.2 India
5.2.1.3 Japan
5.2.1.4 South Korea
5.2.1.5 ASEAN Countries
5.2.1.6 Rest of Asia-Pacific
5.2.2 North America
5.2.2.1 United States
5.2.2.2 Canada
5.2.2.3 Mexico
5.2.3 Europe
5.2.3.1 Germany
5.2.3.2 United Kingdom
5.2.3.3 Italy
5.2.3.4 France
5.2.3.5 Spain
5.2.3.6 Rest of Europe
5.2.4 South America
5.2.4.1 Brazil
5.2.4.2 Argentina
5.2.4.3 Rest of South America
5.2.5 Middle East and Africa
5.2.5.1 Saudi Arabia
5.2.5.2 South Africa
5.2.5.3 Rest of Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers, Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%) Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Altivia Petrochemicals
6.4.2 Chang Chun Group
6.4.3 China National Bluestar (Group) Co. Ltd
6.4.4 China Petroleum & Chemical Corporation (SINOPEC)
6.4.5 Covestro AG
6.4.6 Dow
6.4.7 Hexion
6.4.8 Idemitsu Kosan Co. Ltd
6.4.9 Kumho P&B Chemicals Inc.
6.4.10 LG Chem
6.4.11 Lihua Yiweiyuan Chemical Co. Ltd
6.4.12 Mitsubishi Chemical Corporation
6.4.13 Mitsui Chemicals Inc.
6.4.14 Nan Ya Plastics Industry Co. Ltd
6.4.15 Nippon Steel Chemical & Material Co. Ltd
6.4.16 PTT Phenol Company Limited
6.4.17 SABIC
6.4.18 Samyang Holdings Corporation
6.4.19 Teijin Limited
6.4.20 Zhejiang Petroleum & Chemical Co. Ltd
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Potential Market Demand for Bio-Based BPA
