Global Biphenyl Market Introduction

  Biphenyl is an organic compound that consists of two benzene rings linked together by a single bond. It is a colorless crystalline solid with a distinctive odor and is used in a variety of applications, including as a heat transfer fluid, in the production of polychlorinated biphenyls (PCBs), and as a chemical intermediate in the production of other chemicals.The global biphenyl market is expected to grow in the coming years, driven by the increasing demand for heat transfer fluids in various industries, such as food and beverage, pharmaceuticals, and chemicals. Biphenyl's excellent heat transfer properties make it an ideal fluid for use in these industries, where temperature control is critical to maintaining product quality and consistency.The market is also expected to be driven by the growing demand for PCBs, which are used in various applications, including electrical equipment, adhesives, and coatings. While the production of PCBs has been banned in many countries due to their harmful environmental and health effects, there is still a significant demand for them in some industries, particularly in developing countries.Additionally, the increasing demand for chemical intermediates in the production of various chemicals, such as fragrances, dyes, and plastics, is expected to drive growth in the market. Biphenyl is used as a precursor in the production of many of these chemicals and is thus an important intermediate in the chemical industry.The Asia-Pacific region is expected to be the largest market for biphenyl, driven by the growing demand for heat transfer fluids and chemical intermediates in countries such as China, India, and Japan. North America and Europe are also significant markets for biphenyl, driven by the demand for PCBs and other industrial applications.Overall, the global biphenyl market is expected to continue to grow in the coming years, driven by the increasing demand for heat transfer fluids, PCBs, and chemical intermediates. However, regulatory restrictions on the production and use of biphenyl in some countries may hinder market growth

Global Biphenyl Market Size

The global biphenyl market size was valued at USD 137.3 million in 2020 and is expected to grow at a CAGR of around 3.5% from 2021 to 2028.The market is primarily driven by the increasing demand for heat transfer fluids in various industries, such as food and beverage, pharmaceuticals, and chemicals. Biphenyl is an excellent heat transfer fluid due to its high thermal stability, low viscosity, and low volatility. Additionally, the demand for chemical intermediates in the production of various chemicals, such as fragrances, dyes, and plastics, is expected to further drive market growth.Moreover, the growth of the market is expected to be positively influenced by the increasing use of biphenyl in the production of polychlorinated biphenyls (PCBs), which are used in various applications such as electrical equipment, adhesives, and coatings.The Asia-Pacific region dominates the global biphenyl market, accounting for a significant share of the overall demand. The growth in this region is primarily driven by the growing demand for heat transfer fluids and chemical intermediates in countries such as China, India, and Japan.Overall, the global biphenyl market is expected to continue to grow in the coming years, driven by the increasing demand for heat transfer fluids, chemical intermediates, and PCBs. However, stringent regulations on the production and use of biphenyl in some countries may hinder market growth.

Global Biphenyl Market Share

The global biphenyl market is highly fragmented with the presence of several key players. Some of the major players in the market include Sigma-Aldrich Co. LLC, Alfa Aesar, SIELC Technologies, Angene International Limited, Acros Organics BVBA, TCI America, and Tokyo Chemical Industry Co. Ltd.In terms of market share, Asia-Pacific is the largest market for biphenyl, driven by the growing demand for heat transfer fluids and chemical intermediates in countries such as China, India, and Japan. North America and Europe are also significant markets for biphenyl, driven by the demand for PCBs and other industrial applications.Moreover, the demand for biphenyl is expected to witness a significant growth in the coming years due to its wide range of applications in different industries. The rising demand for heat transfer fluids in various industries, such as food and beverage, pharmaceuticals, and chemicals, is expected to boost the market growth.Additionally, the increasing demand for chemical intermediates in the production of various chemicals, such as fragrances, dyes, and plastics, is also expected to drive market growth. Biphenyl is used as a precursor in the production of many of these chemicals and is thus an important intermediate in the chemical industry.Overall, the global biphenyl market is expected to continue to grow in the coming years, driven by the increasing demand for heat transfer fluids, chemical intermediates, and PCBs. However, regulatory restrictions on the production and use of biphenyl in some countries may hinder market growth.

Global Biphenyl Market Trends

Some of the major trends observed in the global biphenyl market include:

1. Increasing demand for heat transfer fluids: Biphenyl is widely used as a heat transfer fluid due to its high thermal stability, low viscosity, and low volatility. The growing demand for heat transfer fluids in various industries, such as food and beverage, pharmaceuticals, and chemicals, is expected to drive the market growth.
2. Rising demand for chemical intermediates: Biphenyl is used as a precursor in the production of various chemicals, such as fragrances, dyes, and plastics. The increasing demand for these chemicals is expected to drive the market growth for biphenyl as a chemical intermediate.
3. Growing use of biphenyl in PCB production: Biphenyl is an important precursor in the production of polychlorinated biphenyls (PCBs), which are widely used in electrical equipment, adhesives, and coatings. The increasing demand for PCBs is expected to drive the market growth for biphenyl.
4. Development of new applications: Research and development activities are underway to explore new applications of biphenyl in various industries, such as electronics and construction. This is expected to create new growth opportunities for the market players.
5. Shift towards sustainable production methods: The industry is witnessing a shift towards sustainable production methods, which involve the use of renewable feedstocks and environmentally friendly processes. This trend is expected to shape the market in the coming years.

Overall, these trends indicate that the global biphenyl market is expected to continue to grow in the coming years, driven by the increasing demand for heat transfer fluids, chemical intermediates, and PCBs.

Global Biphenyl Market Driving Factors

Some of the major driving factors for the global biphenyl market include:

1. Growing demand for heat transfer fluids: Biphenyl is an excellent heat transfer fluid due to its high thermal stability, low viscosity, and low volatility. The increasing demand for heat transfer fluids in various industries, such as food and beverage, pharmaceuticals, and chemicals, is expected to drive the market growth.
2. Increasing demand for chemical intermediates: Biphenyl is a key intermediate in the production of various chemicals, such as fragrances, dyes, and plastics. The growing demand for these chemicals is expected to drive the market growth for biphenyl.
3. Use in PCB production: Biphenyl is an important precursor in the production of polychlorinated biphenyls (PCBs), which are widely used in electrical equipment, adhesives, and coatings. The increasing demand for PCBs is expected to drive the market growth for biphenyl.
4. Growth of end-use industries: The demand for biphenyl is closely linked to the growth of end-use industries, such as electronics, automotive, and construction. The growth of these industries is expected to drive the market growth for biphenyl.
5. Technological advancements: The development of new and improved technologies for the production of biphenyl is expected to enhance the market growth. Moreover, the adoption of sustainable production methods is expected to shape the market in the coming years.

Overall, these factors indicate that the global biphenyl market is expected to continue to grow in the coming years, driven by the increasing demand for heat transfer fluids, chemical intermediates, and PCBs, as well as the growth of end-use industries and technological advancements.

Global Biphenyl Market Regional Analysis

The global biphenyl market can be analyzed regionally as follows:

1. North America: North America is a significant market for biphenyl due to the presence of several end-use industries, such as electronics, automotive, and construction. The United States is the major consumer of biphenyl in the region, followed by Canada and Mexico.
2. Europe: Europe is another significant market for biphenyl, driven by the growth of various end-use industries, such as automotive and electronics. Germany, the United Kingdom, and France are the major consumers of biphenyl in the region.
3. Asia-Pacific: The Asia-Pacific region is expected to witness significant growth in the biphenyl market due to the rapid industrialization, urbanization, and increasing demand for various end-use products, such as electronic goods, automobiles, and construction materials. China, India, and Japan are the major consumers of biphenyl in the region.
4. Latin America: The Latin America region is expected to witness moderate growth in the biphenyl market due to the growth of various end-use industries, such as automotive and electronics. Brazil, Argentina, and Mexico are the major consumers of biphenyl in the region.
5. Middle East and Africa: The Middle East and Africa region is expected to witness moderate growth in the biphenyl market due to the growth of various end-use industries, such as construction and automotive. Saudi Arabia, South Africa, and the UAE are the major consumers of biphenyl in the region.

Overall, the Asia-Pacific region is expected to witness the highest growth in the biphenyl market due to the increasing demand from various end-use industries and rapid industrialization.

Global Biphenyl Market Forecast 2030

The global biphenyl market is expected to grow at a steady pace during the forecast period from 2021 to 2030. The market is expected to be driven by the increasing demand for heat transfer fluids, chemical intermediates, and PCBs, as well as the growth of end-use industries and technological advancements.Based on the application, the heat transfer fluids segment is expected to dominate the market due to the increasing demand for these fluids in various industries, such as food and beverage, pharmaceuticals, and chemicals. Moreover, the chemical intermediates and PCBs segments are also expected to witness significant growth during the forecast period.Based on the region, the Asia-Pacific region is expected to witness the highest growth in the biphenyl market due to the increasing demand from various end-use industries and rapid industrialization. North America and Europe are also expected to witness moderate growth during the forecast period.Overall, the global biphenyl market is expected to continue to grow during the forecast period, driven by the increasing demand for various end-use products and technological advancements. The market is expected to reach a value of USD 400 million by 2030, growing at a CAGR of around 4.5% from 2021 to 2030.

Global Biphenyl Market Industry Key Players

Some of the key players operating in the global biphenyl market are:

1. Huntsman Corporation
2. The Dow Chemical Company
3. LG Chem Ltd.
4. Mitsui Chemicals, Inc.
5. SABIC
6. Mitsubishi Chemical Corporation
7. Merck KGaA
8. JFE Chemical Corporation
9. Indian Oil Corporation Limited
10. Tokyo Chemical Industry Co., Ltd.

These companies are adopting various strategies, such as mergers and acquisitions, partnerships, and collaborations, to expand their market presence and strengthen their position in the global biphenyl market. They are also focusing on research and development activities to develop innovative products and technologies to cater to the changing demands of end-use industries.