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The Bisphenol Market size is estimated to reach US$17.5 billion by 2027, after growing at a CAGR of 7.6% during the forecast period 2022-2027. The growth
of the Bisphenol market would be highly influenced by surging demand from automotive,
aerospace, building & construction and others. Bisphenol is a crystalline
solid that works as a strengthener in polycarbonate plastics and epoxy resins. Various types such as Bisphenol A, Bisphenol F, Bisphenol S and others have increasing demand in the automotive sector for windows, windshields, sunroofs and others. The increasing
demand for bisphenol in the automotive industry acts as a driver in the bisphenol
market. According to the Federal Chamber of Automotive Industries,
the new vehicle registration in Australia represented an increase of 1.2%, with
101,233 units in March 2022 compared to March 2021. The
growing automotive industry, along with a flourished base for aerospace, construction,
electronics and other sectors is fueling the growth scope for the Bisphenol
industry.
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Bisphenol Market: Leading Segment is the Automotive Industry
Based on the end-use industry, the Bisphenol market can be segmented into automotive, building & construction, aerospace, electrical & electronics and others. The leading segment in the bisphenol industry has been evaluated to be the automotive industry. During the forecast period 2022-2027, the automotive industry is projected to grow at a CAGR of 7.1%. This can be attributed to growth factors such as surging transportation activities, rising automotive vehicle production and urbanization. For instance, according to the International Organization of Motor Vehicles Manufacturers (OICA), the global production of passenger cars increased from 55,834,456 units in 2020 to 57,054,295 units in 2021. Thus, the bisphenol industry would grow significantly as a result of emerging applications of Bisphenol in the automotive sector for windshields, windows, sunroofs and others over the forecast period.
Bisphenol Market: Leading Region is the Asia-Pacific
Based on geography, the Bisphenol market can be segmented into North America, South America, Europe, APAC and ROW. According to IndustryARC's analysis, Asia-Pacific has emerged as the most profitable region. In 2021, the Asia-Pacific held a 37% share of the total revenues earned by the market globally. The APAC region is estimated to grow rapidly due to the established manufacturing base, upsurge in transportation, growing building & construction and industrialization. The automotive sector is also growing significantly in APAC due to similar reasons. According to the National Investment Promotion & Facilitation Agency, the Indian construction industry is expected to reach US$1.4 trillion by the year 2025. With robust growth scope for bisphenol in the automotive industry for sunroofs, windshields, windows and others across APAC countries, the bisphenol industry would emerge significantly over the forecast period. The Bisphenol market would also gain demand from the North American region. The USA, Canada and others are emerging countries in the Bisphenol industry.
Bisphenol Market: Competitive Landscape
Key companies holding major shares in the Bisphenol market are Covestro AG, Chang Chun Group, Nan Ya Plastics Corporation, Kumho P&B Chemicals Inc., SABIC, Dow Chemical, P&B Chemical, Hexion Inc., Formosa Plastics and Bayer Material Science.