Several industries are experiencing an increase in demand for polycarbonate plastics, which is driving the market for bisphenol A. For instance, Covestro launched a new polycarbonate film production line at Thailand's Map Ta Phut Industrial Area in October 2020. The increased capacity was created in order to address the rapidly expanding demand for polycarbonate films in the Asia. The industries that employ the films the most are those that deal with medical technology, telecommunications, automobiles, and identification documents.
Again, it is predicted that growing demand for epoxy resins from the electronic industry will encourage market expansion.
The market for Bisphenol A is anticipated to reach USD 30.52 billion in 2028 and grow at a 5.3% CAGR during the same period.
Market Leaders in the Bisphenol A Industry:
1) Chang Chun Group: The second main company within the Chang Chun Group was established in 1964 and is known as Chang Chun Petrochemical Co., Ltd. It was a pioneer in Taiwan's petrochemical industry since it excelled in producing methyl alcohol using natural gas processed at its Miaoli Plant. The corporate headquarters are in Taipei, Taiwan. The second consecutive year, TSMC awarded Chang Chun Petrochemical Co., Ltd. its Supplier Excellent Performance Award.
2) Covestro AG: Leverkusen, Germany serves as the home base for Covestro. High-tech polymers are provided by Covestro AG (Covestro). It creates and produces the raw materials used in the production of polyurethanes, their derivatives, coatings, specialty chemicals, adhesives, and other products. Covestro's business operations go back to the early 20th century, despite the fact that the corporation was only founded as an independent legal entity in 2015. The acquisition of the Resins & Functional Materials business (RFM) from the Netherlands firm Royal DSM by Covestro was successfully completed on April 1, 2021.
3) Hexion, Kumho P&B Chemicals Inc: It belongs to the Kumho Petrochemical Group as a subsidiary. South Korean company Kumho P&B, headquartered in Seoul, was founded in 1989. Basic chemicals such acetones, phenols, BPA, MIBK, and epoxy resins are produced and distributed by this industry. These chemicals are necessary for a range of industrial disciplines, including the creation of electronic devices for the production of electric and medicinal products. Successful acquisition of a 48.8% share in Kumhoresort Co., Ltd. by Kumho Petrochemical Co., Ltd. and Kumho P&B Chemicals, Inc. from Kumho T&I Company.
4) LG Chem: Since its founding in 1947, LG Chem, a top chemical firm in Korea, has grown steadily by taking on arduous difficulties and innovating new products. From the indestructible face cream lid to the most cutting-edge batteries in the world, LG Chem has made dreams come true and improved our lives for 70 years. Headquarters are in Seoul, South Korea's Yeongdeungpo-gu neighbourhood. It was announced by LG Chem, Ltd. that it had successfully acquired AVEO Oncology.
5) Lihuayi Weiyuan Chemical Co Ltd: Innovative organic chemical compounds are produced, sold, and developed (R&D) by the Chinese company Lihuayi Weiyuan Chemical Co Ltd. The company's two principal industrial chains are those for polycarbonate and ethylene glycol. The polycarbonate supply chain is made up of phenol, bisphenol A, acetone, isopropanol, polycarbonate, and industrial by-products. constructed in 2010. Headquarter: Dongying, China, in 2022 The purchase of a portion of Shandong Zhongzhuobaogang Energy Development Co., Ltd.'s shares was announced by Lihuayi Weiyuan Chemical Co., Ltd.
6) Mitsui chemicals corporation.: In 2008, Mitsui Chemicals India Private Limited, a subsidiary of the Japan-based Mitsui Chemicals Group, was established with the mission of utilising chemical technology to support socio-economic development in India while accomplishing organisational growth and innovation goals. Headquartered in Tokyo, Japan's Minato City. Business Mitsui Chemicals makes an investment in Shoulder Innovations, a provider of shoulder replacement implants.
*Definition: The manufacturing of epoxy resins, polycarbonate plastics, and other polymeric materials all require the use of the organic compound bisphenol A.
