Wilmington, Delaware, United States, Oct. 10, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The Global Bio-Based Bisphenol-A Market is prognosticated to reach US$ 262.1 Mn by 2031, according to a research report presented by Transparency Market Research (TMR). In addition, the study finds that the market for bio-based bisphenol-A is expected to grow at a CAGR of 19.1% during the forecast period, from 2022 to 2031.
Polycarbonates are being utilized in the production of a wide range of products such as the optical lenses, food & beverage containers, safety helmets, electronic & household appliances, automotive components, telephones, medical equipment, toys, and construction parts. This broad range of product application is creating notable business opportunities in the global bio-based bisphenol-A market, state analysts of a TMR report.
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The application of the bio-based epoxy adhesives & sealants is being increasing for the manufacturing of paints, adhesives, and consumer and industrial coatings. Hence, a rise in the demand for these products globally is creating profitable prospects in the market, states a TMR review that covers insights on the bio-based bisphenol-A market demand analysis.
With rising rate of depletion of petrochemical resources and increasing levels of carbon emissions globally, companies operating in the global bio-based bisphenol-A market are investing heavily in R&D projects. Furthermore, players are increasing efforts in order to find solutions such as polymers developed from naturally-occurring feedstock that can be used as a replacement to petroleum-based materials. Such efforts are expected to help in the expansion of the bio-based bisphenol-A market during the forecast period, according to researchers of a report by TMR.
Bio-based Bisphenol-A Market: Key Findings
- Bio-based bisphenol-A finds application in the manufacturing of epoxy resins and polycarbonate plastics, states a TMR study. The demand for polycarbonate plastics is being rising in the recent years owing to its increased utilization in the production of different types of consumer products including toys, medical devices, and food contact materials. Hence, increase in the sales of above-mentioned consumer products is expected to drive the growth prospects in the global market, states a TMR report that delivers key insights on the bio-based bisphenol-A market trends.
- The sales of bio-based epoxy resins is being increasing in the recent years owing to its rising utilization in paints & coatings, adhesives, high-performance composites, and insulation. Hence, rise in the demand for bio-based epoxy resins is anticipated to help in the expansion of the bio-based bisphenol-A market share during the forecast period, note analysts at TMR.
Bio-based Bisphenol-A Market: Growth Boosters
- Surge in the concerns pertaining to harmful industrial processes and decline in the petroleum-based resources are driving the expansion of the bio-based bisphenol-A market size
- Rise in the R&D projects focused on the bio-based polymers is creating prominent business avenues in the global bio-based bisphenol-a market
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Bio-based Bisphenol-A Market: Regional Analysis
- The bio-based bisphenol-A market in Europe is projected to gain lucrative prospects during the forecast period owing to increase in the industrialization and execution of strict regulations pertaining to the environment in the region
- The Asia Pacific bio-based bisphenol-A market is anticipated to expand at notable pace in the near future owing to a surge in the use of bio-based bisphenol-A in China during the production of epoxy resins and polycarbonate plastics
Bio-based Bisphenol-A Market: Key Players
Some of the key players profiled in the report are:
- Covestro AG
- Mitsui Chemicals Inc.
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Bio-based Bisphenol-A Market Segmentation
Application
- Polycarbonate Plastic
- Epoxy Resin
- Others
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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