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Global Biphenyl Market to Reach $1.98 Billion by 2031 at a CAGR of 4.8%
Global Biphenyl Market
Dublin, Nov. 17, 2022 (GLOBE NEWSWIRE) -- The "Biphenyl Market By Source, By Application: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The global biphenyl market was valued at $1.24 billion in 2021, and is projected to reach $1.98 billion by 2031, growing at a CAGR of 4.8% from 2022 to 2031.
Factors such as rise in population of millennials, increase in fashion consciousness, and adoption of western culture among people in both developed and developing countries such as the U.S., China, and India has led the textile sector to witness remarkable growth where biphenyl is widely used as dye carrier. This acts as one of the key drivers responsible for growth of the biphenyl market.
In addition, increase in severity of diseases has led the pharmaceutical sector to witness a significant growth where biphenyl is widely used as an active pharmaceutical intermediate for manufacturing various drugs for treatment of several health-related disorders including hypertension, diabetic nephropathy, osteoarthritis, rheumatoid arthritis, Alzheimer's disease, prostate cancer, and other chronic diseases. This propels growth of the biphenyl market in the growing pharmaceutical sector.
However, biphenyl is a benzenoid aromatic compound that occurs naturally in coal tar, crude oil, and natural gas. Prices of these materials vary that eventually affects prices of biphenyl. This factor hampers growth of the biphenyl market.
On the contrary, rise in population has led to rise in demand for a wide range of consumer goods, which has led to establishment of chemical manufacturing units in both developed and developing economies where biphenyl is widely used as heat transfer fluid and chemical intermediate during production of various organic chemicals. For instance, according to a report published by the India Brands Equity Foundation, the chemical industry is expected to contribute $300 billion to India's GDP by 2025. This is anticipated to increase demand for biphenyl in the growing chemical manufacturing sector; thus creating remunerative opportunities for the market.
KEY BENEFITS FOR STAKEHOLDERS
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the biphenyl market analysis from 2021 to 2031 to identify the prevailing biphenyl market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the biphenyl market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global biphenyl market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Source
Crude Oil
Coal Tar
Natural Gas
By Application
Pharmaceuticals Solvent
Others
Dye Carrier
Food and Beverages
Chemical Intermediates
By Region
North America
Mexico
U.S.
Canada
Europe
Germany
United Kingdom
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
ABacipharm Corporation
Alfa Aesar
Biosynth Carbosynth
Daken Chemical Limited
Eastman Chemical Company
Henan Tianfu Chemical Co., Ltd
JIANGSU ZHONGNENG CHEMICAL TECHNOLOGY CO., LTD
Lanxess AG
MainChem
Merck kGaA
Oakwood Products, Inc.
Otto Chemie Pvt. Ltd.
Springchem New Material Technology Co., Limited
Taj Pharmaceuticals Ltd.
TCI America
Key Topics Covered:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: BIPHENYL MARKET, BY SOURCE
CHAPTER 5: BIPHENYL MARKET, BY APPLICATION
CHAPTER 6: BIPHENYL MARKET, BY REGION
CHAPTER 7: COMPANY LANDSCAPE
CHAPTER 8: COMPANY PROFILES
For more information about this report visit https://www.researchandmarkets.com/r/5fmlfw
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