Biphenyl Market projected to exceed $360 million by 2026, Says Global Market Insights Inc.
Growing demand for biphenyl in manufacturing industries owing to its high thermal properties and increasing demand for crop protection product is attributing to market growth, says this report.
SELBYVILLE, Del., Jan. 19, 2021 /PRNewswire/ -- Based on Global Market Insights Inc., report, the global biphenyl market size was estimated at $225 million in 2019 and is slated to surpass $360 million by 2026, registering a CAGR of 7% from 2020 to 2026. The report provides a comprehensive analysis of the top winning strategies, wavering industry trends, drivers & opportunities, top investment avenues, competitive scenarios, market estimations & size.
Biphenyl market from natural gas biphenyl type anticipated to grow with CAGR of over 6.5% by the end of 2026 owing to an incremental increase in natural gas reserves in different regions such as North America, Europe, and the Asia Pacific across the world. Moreover, increased shale gas extraction activities in the U.S. are expected to raise the demand for natural gas in the country in the years to come.
Increasing natural gas production on a global level is expected to increase the consumption of natural gas biphenyl during the forecast period. Regulation-driven shift in coal to gas consumption especially in countries such as China may weaken the demand for coal tar biphenyl to some extent during the next few years. Moreover, increasing demand for dyes, pigments, and carbonless copy paper is one of the defining reasons supporting market growth. Furthermore, increasing usage for electrical, heat transfer and hydraulic equipment should propel the biphenyl market growth of natural gas biphenyl.
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The global biphenyl market from dyestuff carrier for the textiles industry is expected to surpass over 80 million by the end of 2026 owing to increasing consumer demand for apparel with aesthetically approved designs.
The biphenyl market from fungicide application is projected to grow with a CAGR of over 5.5% owing to increasing usage of biphenyl for fungicide for plant disease control and as a preservative for citrus fruits.
Rapid industrialization, growing food & beverage industries, and increasing focus on the development of concentrated solar power plants across the globe will significantly drive the demand for heat transfer fluids which in turn will augment the market growth from heat transfer fluids application.
Biphenyl demand as a solvent in the pharmaceutical industry is projected to grow with a CAGR of 7% by the end of 2026. Biphenyl market by chemical intermediate application is projected to gain traction with the CAGR of 7.5% in the market owing to increasing demand for polymer processing and in the production of organic chemicals.
Increasing usage of agrochemical and other pesticides in the agricultural sector are should boost product demand by fungicide application. The market is anticipated to grow over USD 5.5 million from fungicide application by the end of 2026.
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Europe region is expected to witness considerable growth with a CAGR of 5.5% in the coming years owing to an increased demand for pharmaceutical preparations. Biphenyl is a chemical, which finds demanding applications as an intermediate in manufacturing other organic chemicals like phosphorus and hydroxy compounds the establishment of research institutes, economic development, and increasing innovations are some of the factors contributing to the rapid growth of the global chemical industry.
The demand for organic chemicals in Europe is primarily driven by rising government funding and heavy investments by major players in research & development. The region is witnessing the growing demand for chemicals owing to an increasing focus on alleviating the adverse effects of climate change, health, and nutrition. The increasing role of chemistry in the development & maintenance of infrastructure, pharmaceutical industry, and biochemistry represents healthy growth opportunities for the biphenyl market in the coming years.
Rapid urbanization, increasing populace, changing lifestyle, and increasing consumer spending across the globe particularly in Asia-Pacific is driving the production of textile fabric this, in turn, will augment the biphenyl market share from dyestuff carrier for textiles application. Rising consumer demand for apparel with aesthetically approved designs and textures is encouraging textile manufacturers to bring about innovations in the dyeing process of textiles, increasing innovations in the field of technical textiles which may boost the market growth. Countries such as China, India, Bangladesh, Italy, turkey, and Vietnam are expected to be lucrative regions for biphenyl in dyestuff carrying applications.
Some of the key players operating in the biphenyl industry are Thermo Fisher Scientific, Sigma Aldrich, Tokyo Chemical Industry Co., Ltd., Santa Cruz Biotechnology, Clearsynth, Lanxess AG, Biosynth Carbosynth, ABCR GmbH, AK Scientific, Inc., AA Blocks, Alfa Chemistry, 3B Scientific (Wuhan) Corporation Ltd., Sinfoo Biotech, Oakwood Chemical, Angene International Limited, King Scientific, Haihang Group, Spectrum Chemical Mfg. Corp., Dayang Chem (Hangzhou) Co., Ltd., Central Drug House (P) Ltd., Loba Chemie, Eastman Chemical Company, Debye Scientific Co., Ltd., Matrix Scientific, Win Win Chemical, Life Chemicals, MuseChem, Aozeal Certified Standards, LGC Standards (part of LGC Group), Hangzhou Keying Chem Co., Ltd., Xingrui Industry Co., Ltd., Anward and others.
Read the latest blog on " Chemicals intermediate application to fuel biphenyl consumption globally": https://news.decresearch.com/global-biphenyl-industry/
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting, and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
GMIPulse, our business analytics platform offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top level categories and hundreds of industry segments within them, covering regional, company level, and cross-sectional statistics that make our offering a stand-out for decision-makers.
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Global Biphenyl Market Outlook - 2026
SOURCE Global Market Insights Inc.
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