Global Biphenyl Market Size, Share, and COVID-19 Impact Analysis By Source (Coal Tar Biphenyl, Crude Oil Biphenyl, and Natural Gas Biphenyl), By Application (Chemicals Intermediate, Food & Beverages, Fungicide, Dyestuff Carrier for Textiles, Solvents and Heat Transfer Fluids) and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030Industry: Chemicals & Materials
Global Biphenyl Market Insights Forecasts to 2030
- The global Biphenyl Market was valued at USD 1.64 Billion in 2021.
- The Market is growing at a CAGR of 4.8% from 2021 to 2030
- The global Biphenyl Market is expected to reach USD 2.5 Billion by 2030
- North America is expected to grow the fastest during the forecast period.
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The global Biphenyl Market is expected to reach USD 2.5 Billion by 2030, at a CAGR of 4.8% during the forecast period 2021 to 2030. Government programmes promote organic farming practises attaining environmental sustainability, notably in nations like the United States and China, which have significantly increased the demand for Biphenyl.
In the food and beverage sector, biphenyl is frequently used as a flavouring ingredient and food preservative. Benzoic acid and sodium benzoate, which are utilised in the beverage business, produce biphenyl and its byproducts. Since sodium benzoate is frequently used in off-flavour soft drinks, rising millennial soft drink demand is one of the key factors supporting the growth of the biphenyl industry. Additionally, biphenyl is utilised as an adjuvant or flavouring ingredient. One of the key factors contributing to the growth of the biphenyl market is the use of an adjuvant, which may be added to a vaccine to enhance the immune response and create more antibodies and longer-lasting protection. Supply limitations in the short to medium term are caused by the distributors of biphenyl goods, who heavily rely on transportation regulations and experience problems with material handling & transit. Due to the COVID-19 pandemic's decreased demand for crude oil, biphenyl prices were comparatively stable during the epidemic. Acute exposure to high quantities of biphenyl can have toxic effects on the liver, kidneys, central nervous system, and peripheral nervous system, in addition to causing eye and skin irritation. People exposed to high quantities of biphenyl experience symptoms like headache, nausea, indigestion, gastrointestinal pain, limb numbness and pain, and overall weariness. Therefore, the sector's growth will be hampered by these harmful health impacts of biphenyl. Because distributors of biphenyl goods rely significantly on transportation regulations and experience difficulties with material handling and delivery, there are sometimes short- to medium-term supply shortages. Due of the COVID-19 pandemic's decreased demand for crude oil, biphenyl prices during the pandemic were rather stable. The liver, kidneys, central nervous system, and peripheral nervous system can all adversely affect acute exposure to high doses of biphenyl. When exposed to excessive quantities of biphenyl, people can experience symptoms like headache, nausea, indigestion, numbness and soreness in their limbs, and general weariness. Biphenyl's harmful health consequences will therefore restrain the growth of the sector.
Global Biphenyl Market Report Coverage
|Market Size in 2021:||USD 1.64 Billion|
|Forecast Period:||2021 - 2030|
|Forecast Period 2021 - 2030 CAGR:||4.8%|
|2030 Value Projection:||USD 2.5Billion|
|Historical Data for:||2017 - 2020|
|No. of Pages:||210|
|Tables, Charts & Figures:||110|
|Segments covered:||By Source, By Application, by Region|
|Companies Covered:||ABacipharm Corporation, Alfa Aesar, Biosynth Carbosynth, Daken Chemical Limited, Eastman Chemical Company, Henan Tianfu Chemical Co., Ltd, Jiangsu Zhongneng Chemical Technology Co., Ltd., Lanxess AG, MainChem, Merck kGaA, Oakwood Products, Inc., Otto Chemie Pvt. Ltd., Springchem New Material Technology Co., Limited, Taj Pharmaceuticals Ltd., TCI America|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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This research report categorizes the Market for global sources based on various segments and regions, forecasts revenue growth, and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Global Biphenyl Market. Recent Market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the Market. The report strategically identifies and profiles the key Market players and analyses their core competencies in each global Biphenyl Market sub-segments.
- In 2021, the Coal Tar Biphenyl segment dominated the Market with the largest Market share of 40.1% and Market revenue of 0.65 Billion.
Based on the Source, the global Biphenyl Market is categorized into Coal Tar Biphenyl, Crude Oil Biphenyl and Natural Gas Biphenyl. In 2021, the Coal Tar Biphenyl segment dominated the Market with the largest Market share of 40.1% and Market revenue of 0.65 Billion. One of the key driving forces behind expanding the coal tar biphenyl market is the increasing demand for pharmaceuticals, dyes, and other substances. Coal tar, which has numerous uses in building, medicine, and other industries, contains biphenyl naturally. Coal tar is predominantly used to make fine chemicals and coal-tar products like creosote and coal-tar pitch. Since it treats various skin conditions like scaling and dryness, coal tar is also used in pharmaceuticals. The group of medications called keratoplastics includes coal tar. It reduces the formation of skin cells and makes the skin shed its outermost layer of dead cells. Additionally, a topical drug used to treat psoriasis and seborrheic dermatitis has increased demand for coal tar biphenyl in pharmaceutical applications, which should assist the expansion of the biphenyl market.
- In 2021, the Chemicals Intermediate segment accounted for the largest share of the Market, with 23.3% and a Market revenue of 0.38 Billion.
Based on the Application, the Biphenyl Market is categorized into Dyestuff Carriers for Textiles, Food & Beverages, Fungicides, Chemicals Intermediates, Solvents and Heat Transfer Fluids. In 2021, the Intermediate Chemicals segment accounted for the largest share of the Market, with 23.3% and a Market revenue of 0.38 Billion. The market for biphenyl is expanding due to its increasing use as an intermediate in the production of emulsifiers. Biphenyl is also thickening in printing carriers and is a precursor in benzidine production. As a result, many end-use manufacturing sectors are seeing a rise in demand for biphenyl as a chemical intermediate. Biphenyl is additionally employed as a crop production intermediate, aiding market expansion. Additionally, using chemical intermediates in non-agricultural pesticides and preservatives contributes to the biphenyl market and is anticipated to increase globally. As a result, the demand for biphenyl should be driven throughout the coming years by the expanding chemical sector, which should also promote the rise of chemical intermediates.
Regional Segment Analysis of the Biphenyl Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
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The Asia Pacific emerged as the largest Market for the global Biphenyl Market, with a Market share of around 18.35% and 0.30Billion of the Market revenue in 2021.
- The Asia Pacific emerged as the largest Market for the global Biphenyl Market, with a Market share of around 18.35% and 0.30Billion of the Market revenue in 2021. The rising acceptance by the market are driving the demand for Biphenyls. This can be ascribed to the growing demand for biphenyl from a variety of end-use industries, including textile, agriculture, food & beverage, chemical manufacturing, and others, which has in turn prompted producers of the substance to boost output. In addition, there has been an increase in exports of agricultural products where biphenyl is frequently employed as a fungicide to inhibit the growth of certain diseases. The rapidly expanding textile industry in India has compelled biphenyl producers to create more effective biphenyl utilised as dye carriers. For instance, a report released in May 2022 by the Indian Brands Equity Foundation stated that India's exports of home textiles increased at a respectable pace of 9% in 2021. This might encourage the market for biphenyls to expand in the Asia-Pacific area.
- North America Market is expected to grow at the fastest CAGR between 2021 and 2030, owing to the increasing encouragement and benefits for foreign businesses to enter the region. The region is expanding because rising nations have accepted Biphenyl in Chemicals Intermediate and Fungicide market. The expansion of the region is also aided by significant players' strategic alliances and joint ventures.
The report offers the appropriate analysis of the key organizations/companies involved within the global Biphenyl Market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment Market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the companies' current news and developments, including product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and Heat Transfer Fluids. This allows for the evaluation of the overall competition within the Market.
List of Key Market Players:
- ABacipharm Corporation
- Alfa Aesar
- Biosynth Carbosynth
- Daken Chemical Limited
- Eastman Chemical Company
- Henan Tianfu Chemical Co., Ltd
- Jiangsu Zhongneng Chemical Technology Co., Ltd.
- Lanxess AG
- Merck kGaA
- Oakwood Products, Inc.
- Otto Chemie Pvt. Ltd.
- Springchem New Material Technology Co., Limited
- Taj Pharmaceuticals Ltd.
- TCI America
Key Target Audience
- Market Players
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Some of the Key Developments:
- In December 2020- Sigma Aldrich's parent firm, Merck, disclosed a total investment of USD 48.69 million in its U.S. manufacturing sites (Danvers, Massachusetts, and Jaffrey, New Hampshire). This project will add roughly 700 new manufacturing jobs and expand the company's manufacturing presence.
- In February 2021- In Slovakia, a new warehouse was opened by Biosynth Carbosynth as a component of the European distribution hub. The company's strategic plan is intended to boost warehouse capacity, meet the expanding market demand for specialised chemicals, and make them widely accessible.
- In September 2020- By opening new laboratories in the United Kingdom, Biosynth Carbosynth increased its capacity for synthesis. This programme aims to increase the company's ability to synthesise fine chemicals and complicated molecules, allowing it to serve its clients better worldwide.
This study forecasts global, regional, and country revenue from 2021 to 2030. Spherical Insights has segmented the global Biphenyl Market based on the below-mentioned segments:
Global Biphenyl Market, By Source
- Coal Tar Biphenyl
- Crude Oil Biphenyl
- Natural Gas Biphenyl
Global Biphenyl Market, By Application
- Chemicals Intermediate
- Dyestuff Carrier for Textiles
- Food & Beverages
- Heat Transfer Fluids
Global Biphenyl Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions (FAQ)
What is the market size of the Biphenyl market?As per Spherical Insights, the size of the Biphenyl market was valued at USD 1.64 billion in 2021 to USD 2.5 billion by 2030.
What is the market growth rate of the Biphenyl market?The Biphenyl market is growing at a CAGR of 4.8% from 2021 to 2030.
Which country dominates the Biphenyl market?Asia-Pacific emerged as the largest market for Biphenyl.
Who are the key players in the Biphenyl market?Key players in the Biphenyl market are ABacipharm Corporation, Alfa Aesar, Biosynth Carbosynth, Daken Chemical Limited, Eastman Chemical Company, Henan Tianfu Chemical Co., Ltd, Jiangsu Zhongneng Chemical Technology Co., Ltd., Lanxess AG, MainChem, Merck kGaA, Oakwood Products, Inc., Otto Chemie Pvt. Ltd., Springchem New Material Technology Co., Limited, Taj Pharmaceuticals Ltd., and TCI America.
Which factor drives the growth of the Biphenyl market?Rapid urbanization is expected to drive the market's growth over the forecast period.
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