Increasing Consumption in Developing Countries Drives the Global Bisphenol A Market, According to a New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) March 09, 2015 -- Follow us on LinkedIn – Although Bisphenol A (BPA) was discovered as early as 1891, the chemical compound came into commercial use in 1957 through the efforts of Bayer and GE. Since the 1960s, the industrial chemical has been widely used as a key building block for polycarbonates plastics and epoxy resins that find application in diverse array of industrial and commercial applications ranging from humble water bottles to wind mill blades. The lightweight, clear, shatter-proof qualities of polycarbonate plastics synthesized using BPA found application in the production of automobiles parts, compact discs and digital video disks, medical devices, food and beverage containers, electronic equipment, corrective and protective eyewear, and equipment for sports safety. Epoxy resins produced from BPA soon became ubiquitous as the inner lining for food and beverage containers, as well as applications such as adhesives, electronic/electrical laminates, and paving and flooring applications, primarily utilized in the aerospace, construction, and automotive industries.
Future growth in the market will be driven by the increasing usage of BPA in rotor blade composites that are employed in wind power generation. With large-scale investments across the globe, wind energy is expected to account for a significant share of the global energy mix in the long run and in turn is poised to propel growth in the BPA segment. Additionally, strong global appetite for BPA-based polycarbonate plastics and epoxy resins continues to spur growth in the global market. In terms of the end-use markets, Bisphenol A is becoming increasingly mired in controversies in the food and beverage sector, with a growing body of research linking the industrial chemical to cancer and other adverse health conditions. More governments are under pressure from negative media reports, protests by environmental activists, and public concern, to gradually phase-out the use of Bisphenol A. The issue is becoming more complex with more national and state governments across the world gearing up to ban all food and beverage packaging applications of BPA, including the use of the epoxy resin as a hardener for plastics, and lining for canned foods and beverages, water bottles, and compact discs.
Despite concerns about the toxicity of BPA, the market is not expected to incur drastic losses as regulatory authorities across the world are delaying the total ban on BPA in food and beverage applications to enable packaging materials manufacturers to come up with alternatives solutions and gradually phase out BPA usage within a feasible time frame.
As stated by the new market research report on Bisphenol A, Asia-Pacific represents the largest market worldwide. The region is also forecast to emerge as the fastest growing market with a CAGR of 5.0% over the analysis period. Fast-paced growth of the domestic electronics, IT and construction sectors, surging demand for wind energy, steadily growing economies, rising automobile production, and increasing construction activity represent key growth drivers in the region.
Key players covered in the report include Bayer AG, Chang Chun Plastics Co. Ltd., Haverhill Chemicals LLC, Kumho P&B Chemicals Inc., LG Chem Ltd., Mitsubishi Chemical Corporation, Mitsui Chemicals Inc., Momentive Specialty Chemicals Inc., Nan Ya Plastics Corporation, SABIC, and The Dow Chemical Company.
The research report titled “Bisphenol A: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, challenges, regulatory issues and other strategic industry activities of global companies. The report provides market estimates and projections in volume (metric tons) for all major geographic markets including the US, Canada, Japan, Europe (comprising France, Germany, Italy, UK, Spain, Russia, and Rest of Europe markets), Asia-Pacific (China, South Korea, and Rest of Asia-Pacific markets), Latin America, and the Rest of World markets. End-Use Application analyzed in the report include Polycarbonate Resins, Epoxy Resins, and Others.
For more details about this comprehensive market research report, please click here
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
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