According to the study “Asia Bisphenol-A Industry Situation and Prospects Research report”, polycarbonate plastics such as food containers, baby toys, water bottles, other plastic items, manufactured using Bisphenol-A can cause health hazards to human population. Various studies revealed that use of Bisphenol-A in various products can cause a variety of health issues, from prostate cancer, breast cancer, early puberty, decreased fertility, neurological problems, and changes in human immune system. Asian population are health conscious about polycarbonate plastics and are demanding for BPA free products which will serve as a restraint in Asian Bisphenol-A market.
Bisphenol-A is a carbon-based synthetic compound denoted by the chemical formula C15H16O2. It is used in the manufacture of polycarbonate plastics and epoxy resins. Bisphenol-A is a colourless solid, poorly soluble in water, and soluble in organic solvents. Asia accounts for a larger share of the Bisphenol-A market due to the increasing demand for polycarbonate plastics and epoxy resins in various manufacturing industries such as paints, coatings, adhesives, electrical, electronics, packaging and others. Polycarbonate plastic is used in the manufacture of containers for food and beverages, impact resistant eye glass lenses, streetlight globes, medical devices, electrical components, electronic components, household appliances, automotive parts, telephones, safety and sports helmets. Polycarbonate in the form of sheets is used in signboards, windows, window protection, roofing structures, walkways, greenhouses, and construction glazing and skylights. Asia is witnessing a drastic growth in industries such as construction, automobiles, medical, energy, food and beverages. Therefore, these industries extensively utilize polycarbonate plastics which indirectly demands Bisphenol-A for the production of polycarbonate plastics.
All the leading vendors in Asia’s Bisphenol-A market are increasingly focusing on creating strong brand names, offering well-established products, and exhibit long-term reliability. The vendors are increasingly competing against each other based on factors such as price, features, and product quality. The leading players in Asia’s Bisphenol-A market are SABIC, Mitsui Chemicals, Mitsubishi Chemical Corporation, Hexion, LG Chem, Kumho P&B Chemicals, Shanghai Sinopec Mitsui Chemicals, CCP, Kazanorgsintez, China National Bluestar, and Kingboard Chemical Holdings. Asia’s Bisphenol-A market is categorized based on various product forms such as crystal, powder and flakes. Bisphenol-A is utilized in the manufacture of epoxy resins, polycarbonate plastics and others. Asia’s Bisphenol-A market is geographically spread across China, Japan, India, Korea, Saudi Arabia and other regions.
The increasing industrial applications of Bisphenol-A products in emerging economies such as, China, India, and Japan, are expected to drive the Bisphenol-A market in Asia. Although, Asian population are aware about various health risk using polycarbonate plastics, there is a demand for disposable polycarbonate plastics which is the major factor driving the growth in the Bisphenol-A market. The major market challenge in Asia’s Bisphenol-A market is the instability in crude oil prices and the increasing applications of Bisphenol-A. The increasing demand for Bisphenol-A products will drive the market for Bisphenol-A in Asia.
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Ankur Gupta, Head Marketing & Communications