Biphenyl Market: Size, Trends, Challenges, and Future Outlook |...

Biphenyl Market: Size, Trends, Challenges, and Future Outlook

Posted 2025-04-04 13:04:35

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.

The report includes growth prospects in the global Biphenyl Market market by type, application, sub segement and region and QMI has compiled a comprehensive detailed research report to offer insights. The report details consumption in the Chemicals & Materials and other sectors. Regional coverage spans North America, Europe, and rest of the world including Asia Pacific.

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Introduction

Biphenyl, an organic compound consisting of two benzene rings, serves as a crucial intermediate in various industrial applications. Its unique chemical properties make it valuable in industries ranging from pharmaceuticals to agrochemicals and electronics. The Biphenyl Market is experiencing steady growth, driven by increasing demand across multiple sectors. This blog explores what biphenyl is, analyzes market size and growth, examines key trends and opportunities, discusses challenges, and provides a forecast for the industry.

What is Biphenyl?

Biphenyl (C₁₂H₁₀) is a colorless to pale-yellow crystalline solid with a distinct aromatic odor. It is primarily used as:

A heat transfer fluid in industrial processes
An intermediate in chemical synthesis (pharmaceuticals, dyes, plastics)
A fungicide and preservative (especially in citrus fruit packaging)
A component in electronics (liquid crystal displays, OLEDs)

Its stability at high temperatures and chemical versatility make it indispensable across multiple industries.

Market Size and Growth Projections

According to Spherical Insights, the global biphenyl market was valued at USD 1.64 billion in 2021 and is projected to grow at a CAGR of 4.8% from 2024 to 2032, reaching USD 2.5 billion by 2030.

Key Growth Drivers:

✔ Expanding Pharmaceutical Industry – Biphenyl derivatives are used in drug synthesis, including anti-inflammatory and antiviral medications.
✔ Rising Demand for Agrochemicals – Its role in fungicides and pesticides supports agricultural growth.
✔ Growth in Electronics Manufacturing – Used in LCDs, OLEDs, and semiconductors.
✔ Increasing Industrial Applications – Heat transfer fluids and dye intermediates boost demand.

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Key Trends and Opportunities

1. Pharmaceutical Innovations

Biphenyl derivatives are critical in developing new antiviral and anticancer drugs, creating growth opportunities.

2. Sustainable Agrochemical Solutions

As farming demands increase, biphenyl-based eco-friendly fungicides are gaining traction.

3. Electronics Industry Expansion

The rise of flexible displays and advanced semiconductors will drive biphenyl consumption.

4. Bio-Based Biphenyl Alternatives

Research into green chemistry solutions may lead to sustainable biphenyl production methods.

Market Challenges

1. Environmental and Health Concerns

Biphenyl is toxic and persistent in the environment, leading to strict regulations.

2. Volatile Raw Material Costs

Fluctuations in benzene prices (a key feedstock) impact production costs.

3. Competition from Substitutes

Alternative heat transfer fluids and preservatives threaten market share.

4. Regulatory Restrictions

Bans on certain biphenyl applications (e.g., food packaging in some regions) limit growth.

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Market Forecast (2024-2032)

Asia-Pacific will dominate due to pharmaceutical and electronics manufacturing growth (China, India, Japan).
North America & Europe will see steady demand from agrochemicals and specialty chemicals.
Middle East & Africa may experience growth due to industrial expansion.

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Conclusion

The biphenyl market is set for moderate growth, supported by pharmaceuticals, agrochemicals, and electronics. However, environmental concerns, regulatory hurdles, and substitute competition pose challenges.

Future opportunities lie in drug development, sustainable agrochemicals, and bio-based alternatives. Companies investing in R&D and regulatory compliance will lead the market.

For a detailed analysis, explore the full report:
👉 Biphenyl Market Report – Spherical Insights

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