Biphenyl Market Size, Share, Industry Analysis, Trends, Growth, 2030

Biphenyl Industry Prospective:

The global biphenyl market size was worth around USD 300.56 Million in 2022 and is predicted to grow to around USD 450.78 Million by 2030 with a compound annual growth rate (CAGR) of roughly 5.20% between 2023 and 2030.

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The report analyzes the global biphenyl market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the biphenyl industry. 

Global Biphenyl Market: Overview

Biphenyl is a kind of aromatic ether. It is a crystalline colorless product and insoluble in water. Biphenyl is majorly used as a fungicide for crops. Commercially, the biphenyl is used in various applications including heat transfer in the fluid. It plays a vital role as an antifungal agrochemical and antimicrobial food preservative. In addition, biphenyl is utilized as a fragrance chemical owing to its aromatic characteristics including in pharmaceuticals, polymer production, flame retardant chemicals, and others. These are essential structural analogs utilized in the synthesis of various compounds. Initially, biphenyl derivatives were utilized as pesticides in several forms including polychlorinated biphenyls.

Global Biphenyl Market: Growth Factors

The rapid proliferation of the chemical sector coupled with its growing usage as a solvent and intermediate has a positive impact on the global biphenyl market. The growing adoption of organic chemicals to carry different reactions in chemical industries like chiral, bromination, and alkylation chemical processes is likely to boost the demand for biphenyl. The increasing concern about the impact of environmental factors on the lifecycle of the end products is motivating the manufacturers of polymer products to establish environmental test chambers for the assessment of the life cycle of the products. Thorough testing of the product's demand for the use of heat transfer fluids is anticipated to increase the demand for the products.

The surging requirement for specialty chemicals in various industries is expected to boost the growth of the global biphenyl market. Moreover, the increasing awareness of farmers on crop protection and growing crop per yield per hectare of land is expected to propel the need for agrochemical insecticides, pesticides, and fungicides. The rapidly increasing industrialization and urbanization reduce the area of land for farming. They induce farmers to cultivate and yield higher output of crops even in small areas.

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Biphenyl Market: Restraints

The market for biphenyl, just like any other industry, is confronted with a variety of obstacles and constraints that have the potential to impede its expansion and development. The following are some potential factors that could limit the market for biphenyl:

Environmental and Regulatory Constraints: Because of the possible influence that biphenyl could have on ecosystems, it is subject to environmental laws. Companies that make and use biphenyl may have difficulties as a result of regulatory limits on the use, production, and disposal of the chemical, which may result in greater costs associated with compliance.

Substitution by Alternatives:  There is a possibility that the market for biphenyl could be threatened by the availability of other compounds or materials that possess qualities that are comparable to those of biphenyl. If alternatives that are less harmful to the environment or more economical come into existence, the need for biphenyl may decrease.

Health and Safety Concerns:  Threats to Health and Safety Workers who are exposed to biphenyl may face health and safety risks as a result of their involvement in the manufacture and utilization of the substance. The legislation governing occupational health and safety may necessitate the implementation of additional precautions to reduce the risks, which may increase the operational expenses of businesses.

Variations in the Cost of Raw Materials:  The manufacture of biphenyl may be contingent on the availability of particular natural resources. Fluctuations in the prices of these raw materials can affect manufacturing costs, which in turn may affect the overall profitability of manufacturers of biphenyl.

Global Economic Factors: Several global economic factors can have an impact on the demand for biphenyl across a variety of businesses. These factors include economic downturns and uncertainties. During times of economic depression, there is a possibility that the demand for biphenyl goods will decline as a result of lower industrial activities and manufacturing output.

Limited End-Use Applications: When compared to other chemicals, biphenyl may have a restricted number of uses in the end-user market. There is a possibility that the overall expansion of the biphenyl market could be hindered if the market for products that include biphenyl is a niche market or goes through a period of poor growth.

technical developments: While technical developments have the potential to stimulate innovation, they may also lead to the creation of alternative manufacturing processes or substitutes, which may affect the demand for traditional methods of producing biphenyl.

Global Trade and Supply Chain Disruptions:  The dynamics of global commerce may affect the biphenyl market. Supply chain disruptions may accompany global trade. Biphenyl's availability and price can be impacted by a variety of factors, including trade disputes, tariffs, and disruptions in supply chains. These factors can affect both manufacturers and end-users.

Strict Regulations Regarding the Disposal of Waste:  Stringent environmental rules may apply to the disposal of biphenyl and the by-products of its production. Businesses can have difficulties in the management and disposal of biphenyl waste in an environmentally acceptable manner, which can result in increased expenditures associated with compliance.

Preferences and Perceptions of Consumers:  Alterations in consumer preferences and increasing awareness of environmental concerns may have an impact on the demand for items that contain biphenyl. The adoption of biphenyl in the market may be influenced by unfavorable impressions or worries regarding the impact that it has on the environment.

To address these constraints, proactive efforts are required. These measures include ensuring compliance with laws, investing in research and development, and diversifying applications to strengthen the resilience of the biphenyl market. Participants in the industry are required to keep an eye on the trends in the market, engage in environmentally responsible practices, and adapt to the ever-changing regulatory framework.

Global Biphenyl Market: Segmentation

The global biphenyl market can be segmented into type, application, and region.

By type, the market can be segmented into natural gas, coal tar, and crude oil biphenyl.

By application, the market can be segmented into a solvent for pharmaceutical production, chemical intermediate, heat transfer fluids, fungicides, food & beverages, and dyestuff carrier for textiles. The food & beverages segment accounts for the largest share of the global biphenyl market. The biphenyl is used as a preservative ingredient to maintain the quality and flavor of the food products and preserve the freshness of food products. The surging demand for food additives due to the increasing consumption of processed foods boosts the growth of the segment.

Ready-to-cook foods are expected to boost the growth of the segment. The heat transfer fluids application is anticipated to become the fastest-growing segment during the forecast period. The growth can be attributed to the growing awareness regarding the high demand in the chemical, renewable energy, and oil & gas sectors. In the commercial sector, there is a wide scope of applications in polychlorinated biphenyl like electromagnets, bushings, re-closers, switches, voltage regulators, capacitors, transformers, and many more. However, the growing use of heat transfer fluids in asphalt processing and storage also boosts the demand.

Global Biphenyl Market: Regional Analysis

North America holds the largest share of the global biphenyl market due to the surge in demand for electronic products like speakers, wireless routers, cameras, cell phones, cell phones, and many more. Due to its high thermal properties, biphenyl is increasingly used in electronic devices. The constant increase in the production of optical brighteners in the region also bolsters the regional market growth.

Global Biphenyl Market: Competitive Players

Some of the significant players in the global biphenyl market are

• Award
• Oakwood Chemical
• Xingrui Industry Co. Ltd.
• Hangzhou Keying Chem Co. Ltd.
• LGC Standards
• Ozeal Certified Standards
• AA Blocks
• MuseChem
• Life Chemicals
• Win-Win Chemical
• Matrix Scientific
• Debye Scientific Co.
• Eastman Chemical Company
• Loba Chemie
• 3B Scientific Corporation Ltd.
• Central Drug House (P) Ltd.
• Dayang Chem (Hangzhou) Co. Ltd.
• Spectrum Chemical Mfg. Corp.
• Haihang Group
• King Scientific
• Angene International Limited
• Sinfoo Biotech
• Alfa Chemistry
• AK Scientific. Inc.
• ABCR GmbH
• Biosynth Carbosynth
• Lanxess AG
• Clearsynth
• Santa Cruz Biotechnology
• Tokyo Chemical Industry Co. Ltd.
• Sigma Aldrich
• Thermo Fisher Scientific
• And Others

The global biphenyl market is segmented as follows:

By Type

• Natural Gas
• Coal Tar,
• Crude Oil Biphenyl

By Application 

• Solvent For Pharmaceutical Production
• Chemical Intermediate
• Heat Transfer Fluids
• Fungicide
• Food & Beverages
• Dyestuff Carrier For Textiles

Global Biphenyl Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.