BISPHENOL A MARKET ANALYSIS

Bisphenol A MarketSize and Trends

The global Bisphenol A market size was valued at US$ 7.03 Bn in 2022 and is anticipated to witness a Compound Annual Growth Rate (CAGR) of 8.3% from 2023 to 2030.

The global Bisphenol A market is expected to grow at a steady pace during the forecast period. This growth is expected to be driven by the increasing demand for the product from numerous industries including marine and automotive, along with its expanding use in photocurable coatings. The growing demand for polycarbonate plastics across sectors such as electronics, construction, and medical is further propelling market growth. Furthermore, the increasing demand for epoxy resins from the electrical and electronics industries is expected to foster the market growth.

• Global Bisphenol A Market Trends: Bisphenol A (BPA) is a key building block in the production of polycarbonate plastics, which are widely used in the automotive industry for applications such as headlamp lenses, instrument panels, and exterior body parts. The global automobile production has been increasing steadily over the years, driven by the growing demand for lightweight and fuel-efficient vehicles. According to a report by the International Organization of Motor Vehicle Manufacturers (OICA), global automobile production increased from 92.2 million units in 2019 to 94.4 million units in 2020, despite the COVID-19 pandemic. This growth is expected to continue in the coming years, which presents an opportunity for the Bisphenol A market.
• Increasing spending in research and development: The growing investments in the research and development (R&D) for developing advanced composite materials by various aerospace companies such as The Boeing Company, General Electric Company, and Airbus SE is boosting the demand for thermoplastics, which, in turn, is augmenting the growth of the Bisphenol A market.

• Bisphenol A (BPA) as a color developer: Yes, the increasing use of Bisphenol A (BPA) as a color developer in thermal paper is a trend that has been observed in recent years. Thermal paper is a type of paper that is coated with a layer of chemicals that react to heat, producing an image or text. BPA is used as a color developer in thermal paper, which helps to produce high-quality, long-lasting images. According to a report by Grand View Research, the global thermal paper market size was valued at USD 3.3 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 4.5% from 2021 to 2028. The report also highlights that the increasing demand for thermal paper from the retail, healthcare, and transportation industries is driving the growth of the market.