Dublin, Sept. 02, 2021 (GLOBE NEWSWIRE) -- The "Bisphenol A (BPA) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The Global Bisphenol A (BPA) Market is projected to register a CAGR of over 5% during the forecast period (2021-2026). The major applications of bisphenol A are polycarbonate and epoxy resins which are used in paints and coatings, adhesives, electrical and electronics, packaging, and other industries.
COVID-19 pandemic has affected the sales of paints and coatings as the construction activities were halted. India's second-largest paint company, Berger Paints, reported approximately a 6.5 percent fall in its consolidated net profit to INR 1,032 million for the fourth quarter ended March 31st, 2020. Additionally, the production in various chemical and other industries such as resins, adhesives, flame retardants, etc. has decreased and the supply of raw materials to the industries has been disrupted. Owing to all these factors, the bisphenol A market is negatively impacted by COVID-19 in 2020.
In the medium term, increasing demand for polycarbonate and epoxy resins in various end-user industries, such as paints and coatings, adhesives, electrical and electronics, packaging, and other end-user industries, are the major factors driving the bisphenol A (BPA) market.
On the flip side, ban on BPA in food contact materials in the United States and Europe and rising concerns over health hazards posed by BPA are expected to be the major restraints, hindering the market growth. Asia-Pacific region is expected to dominate the market and is also likely to witness highest CAGR during the forecast period.
Key Market Trends
Increasing Demand for Polycarbonate Resins
Among all other applications, polycarbonate resins application provides the major market demand for BPA, with more than 70% of the global share.
Polycarbonates are high-performing thermoplastic that is widely used in building and construction applications. Polycarbonate sheets are used as a substitute for glass, in a variety of skylight and window applications. They are also used as opaque cladding panels, barrel vaults, canopies, translucent walls, facades and signage, sports stadium roofs, louvers, and roof domes.
The application of polycarbonate materials has highly increased in greenhouses, in the recent years. In Europe, countries, such as Germany, the Netherlands, Spain, and France, have larger areas for greenhouse cultivation.
The increasing popularity of polycarbonates, owing to their advantages over other conventional materials (which include glass and other plastics), is set to drive the polycarbonate market during the forecast period.
Additionally, in the automotive industry, polycarbonates allow for energy absorption, weight reduction, shock absorption for bumpers, 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. Currently, to manufacture a typical four-wheel vehicle, 10 kg of polycarbonate is used in various forms.
According to OICA, the automobile production ahs declined by 5.2% in 2019 compared to 2018 and by 23% in the first nine months of 2020 compared to same period in 2019.
All the aforementioned factors are expected to show signficant impact on the market growth during the forecast period.
Asia-Pacific Region to Dominate the Market
Asia-Pacific region is expected to dominate the market and also likely to register the highest CAGR during the forecast period.
China is one of the major countries in Asia-Pacific with ample construction activities, with the industrial and construction sectors accounting for approximately ~50% of the GDP.
China is promoting and undergoing a process of continuous urbanization, with a target of 60% in 2020. The increased living spaces required in the urban areas resulting from urbanization and the desire of middle-class urban residents to improve their living conditions may have a profound effect on the housing market, and thereby, increase the residential construction in the country.
The construction industry in India is expected to slow down in the 2020-2021 financial year due to COVID-19, but the lion share of projects in commercial space is likely to continue even during this period, as they are either in public, private partnership (like a smart city) or public projects, which are already budgeted. But in the long run the sector is expected to grow with high growth rate.
In residential segment, the government is pushing huge projects in the next few years. The government's 'Housing for All' initiative aims to build more than 20 million affordable homes for the urban poor by 2022. This will provide a significant boost to residential construction, which will account for more than third of the industry's total value by 2023.
According to OICA, the total number of automobiles produced in the year 2019 by countries China and India are 25.72 million unitsand 4.51 million units, however, declined by around 6.6% and 38.4% respectively in the first nine months of 2020 compared to same period in 2019.
Owing to the aforementioned factors, Asia-Pacific region is expected to show slow growth over the forecast period.
The bisphenol A (BPA) market is consolidated, with the top five companies accounting for most of the global production capacity. The major players include Covestro AG, Mitsubishi Chemical Corporation, Mitsui Chemical Inc., SABIC, and LG Chem, among others.
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Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Strong Demand for Polycarbonate Plastics
4.1.2 Rising Demand for Epoxy Resins from Various End-user Industries
4.2.1 Ban on BPA in Food Contact Materials in the United States and Europe
4.2.2 Rising Concerns over Health Hazards Posed by BPA
4.2.3 Impact of COVID-19 Outbreak
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.5 Feedstock Analysis
4.6 Technological Snapshot
4.7 Trade Analysis
4.8 Price Analysis
4.9 Regulatory Policy Analysis
5 MARKET SEGMENTATION
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
184.108.40.206 South Korea
220.127.116.11 ASEAN Countries
18.104.22.168 Rest of Asia-Pacific
5.2.2 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
5.2.4 South America
184.108.40.206 Rest of South America
5.2.5 Middle-East and Africa
220.127.116.11 Saudi Arabia
18.104.22.168 South Africa
22.214.171.124 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.2 China National BlueStar (Group) Co. Ltd
6.4.3 Covestro AG
6.4.5 NAN YA PLASTICS CORPORATION
6.4.7 KUMHO P&B CHEMICALS.,INC.
6.4.8 LG Chem
6.4.9 Mitsubishi Chemical Corporation
6.4.10 Mitsui Chemical Inc.
6.4.12 SAMYANG HOLDINGS CORPORATION
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Untapped Market of BPA in Rotor-blade Composites
7.2 Other Opportunities
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