Bisphenol S Market (CAGR of 11.52%) 2030
According to ChemAnalyst report, “Bisphenol S Market: Plant Capacity, Production, Operating Efficiency, Process, Demand & Supply, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, Bisphenol S market is projected to grow at a CAGR of 11.52% during the forecast period due to increasing demand of Bisphenol-S as an alternative of BPA as it is proven to be less toxic as well as less harmful in comparison to the latter. It has several applications as Heat Sensitive Developers, Polymer Modifiers, Water Soluble Resins, Thermosetting Resins and Flame Retardants for the production of different intermediates which are positively influencing the market for BPS in the forecast period.
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Bisphenol S (BPS) is an organic compound that exists in white or off-white powder form which is miscible in organic solvents while soluble in water. It is used in manufacturing of polycarbonate plastics, epoxy resin, thermal papers across the globe. Additionally. Majority of the demand for BPS is generated by Heat Sensitive Developers that is used for the manufacture of Thermal Papers owing to the surging online purchasing coupled with its consumption in labelling in food & beverage industry, which is consequently driving the BPS market through 2030. Packaging of baby bottles, dental implants, the lining of canned food and drinks, plastic containers, plastic bowls, helmets, mobile phones, etc. are some of the other uses of BPS. Bisphenol S is also gaining momentum due to its utilization as an additive in brake fluid as well as sealing material. In addition, BPS finds application as reactant in polymer reactions as a substitute of Bisphenol A, thereby, fueling the demand of BPS through 2030. Bisphenol S is less acidic, more stable and heat labile in comparison with Bisphenol A, due to all these factors BPS is gaining popularity among the manufacturers of BPA and therefore its market is expanding replacing Bisphenol A that is proven be harmful to both humans and environment.
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In first half of 2020, sudden outbreak of novel coronavirus had a significant impact on the global market as during first wave of COVID-19, countries went in complete lockdown which led to the decline in the growth of the construction and automotive industries, and this directly affected the growth of the Bisphenol-S market. However, a swift recovery in the market for BPS is witnessed since the situation came back to its normal path due to its wide range applications. Moreover, the increasing use of epoxy resins as well as its utilization across the world in the form of plastics that are used extensively by consumers for food storage.
In Asia-Pacific region, BPS market is anticipated to grow strongly during the forecast period as the region is a manufacturing hub for polymers, plastics, and electronics. Moreover, government initiatives such as ‘Make in India’, bringing Japanese manufacturing back in country or Vietnam’s growing industrialization is creating future growth path for BPS manufacturers in the Asia Pacific region. However, it is anticipated that there would be an acerbation in the global market for BPS in the forecast period as several economies are boosting their manufacturing units to cater to the exponential rise in consumer demand. Additionally, an exponential surge in the demand for Bisphenol S is witnessed in Europe as it is imposing ban gradually on the consumption of Bisphenol A due to its health and environment regards. North America is expected to show a significant growth in the market for Bisphenol S as it is extensively using in the production of polyether sulfonate resins as well as global manufacturer like Solvay is using BPS as an intermediate in sulphonate polymers that further cater to the increasing demand for thermoplastics from automobile and electronics sectors.
“Bisphenol-P market is expected to spur at a considerable rate over the forecast period due to being linked to the Plastics, Automotive and Construction sector along with the growing population, rapid population and changing consumer preferences. Various industrial applications of Bisphenol-S in coatings, leather modifiers, dye intermediates, fiber processing agents, metal plating brightener coupled with its major utilization in the production of polycarbonate resins which further used as a substitute for glass, in a variety of skylight and window applications, automotive industries etc. Polycarbonate resin also has a significant use in automotive industries. Hence, the demand for polycarbonates, epoxy resins and thermosetting resins is driving the market of BPS. With the increasing popularity of Specialty Fibers as one of the most desirable commodities, new competitors emerging across the Asian Specialty Fibers market, players anticipate that there will be sufficient supply demand gaps in future. At this, it is extremely important to keep an eye which region will grab the biggest market share in the upcoming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
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