LONDON--(BUSINESS WIRE)--The global bisphenol A market is expected to exceed USD 20 billion by 2020, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global bisphenol A market for 2016-2020. The market is further categorized into three segments based on application which are Epoxy resins, Polycarbonate plastics and Others. In 2015, the global Bisphenol A market was dominated by the polycarbonate plastics segment which commanded a market share of close to 67%. The runner-up was the epoxy resins market, followed by the other applications segment which had the smallest market share.
Technavio’s research study segments the global bisphenol A market into the following regions:
- APAC
- EMEA
- Americas
APAC: highest production volumes in the market
The APAC region is expected to spearhead the Bisphenol A market which is in keeping with the trend seen in many major chemical markets. In 2015, the APAC had the highest production volumes and is expected to sustain the highest CAGR of over 8.3% among the regions.
By 2020, the production volume for the APAC market is expected to reach a figure of 6.66 MMTPA. The APAC region is expected to increase its dominance over the global Bisphenol A market, commanding a market share of 67% by 2020.
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EMEA: polycarbonate plastics and epoxy resins to sustain demand
The EMEA region, with its cluster of developed economies in the Western part and the developing ones in the East has seen a lot of activities in the plastics market space. The uses of Bisphenol A in the polycarbonate plastics and epoxy resins make a strong case for the importance of the Bisphenol A market in Europe. However, the market in the region is expected to contract slightly in the coming years.
According to Sayani Roy, an industry expert at Technavio for oil and gas research, “One of the reasons for this decline can be attributed to the dominance of the products in the APAC region.” The fundamental manufacturing capacity of the region, based primarily in Western Europe, is dominated by Bayer (Covestro). There are very less independent suppliers or merchants who deal in the product. As the supply glut diminishes and the crude prices correct by 2018, the players in the APAC are expected to ship significant quantities to the European market. This is anticipated to satisfy the local demand without the need to ramp up domestic production.
Americas: demand from developed industrial nations to sustain North American presence in the market
North America, has a significant presence in the global Bisphenol A market owing to the demand from the developed industrial nations of the US, Canada, and Mexico. The US market, wooing to the rapid rates of industrialization had been one of the earliest hubs for the development of the Bisphenol A markets. Companies such as Hexion and Dow chemicals have had a lasting impact on the global Bisphenol A market landscape for decades. However, owing to certain negative perceptions related to the health implications, the regional market is undergoing a significant shift.
“One of the main reasons for this declining trend is the supply glut. The significant capacity additions taking place in the APAC region are expected to have global ripples, affecting the US market to a large extent,” says Sayani.
The top vendors in the global bisphenol A market highlighted in the report are:
- Convestro
- The Dow Chemical Company
- LG Chem
- Mitsui Chemical
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