Biphenyl Market Size, Share & Trends Analysis Report By Type, By Application, By Region, And Segment Forecasts, 2023 To 2030

Biphenyl is a crystalline solid utilized as a heat-transfer agent. It is either white or colorless.Over the projected period, the chemical industry's rapid expansion, and rising product utilization as an intermediate and solvent, are likely to have a positive impact on market growth. In addition, the growing trend of organic agriculture and sustainable farming, along with the adoption of modern agricultural techniques, would further boost market growth.

On the basis of type, the biphenyl market is segmented as crude oil, coal tar, and natural gas. The coal tar biphenyl segment is expected to dominate the market during the forecast period, because biphenyl is naturally present in coal tar, which is used in a variety of industries, including construction, medicine, and others. The primary uses for coal tar are the production of fine chemicals and coal-tar products like creosote and coal-tar pitch. Coal tar is also utilized in medications because it has the ability to treat a variety of skin issues like scaling and dryness.

The biphenyl market, on the basis of application, is segmented as dye carrier, food & beverages, fungicide, heat transfer fluids, chemicals intermediate, and others. Biphenyl is used to maintain the freshness of packaged food goods and prevents oxidation and the production of free radicals in foods.

Due to the usage of biphenyl as a preservative and antioxidant in food products to maintain the flavor and quality of products, the food & beverage segment is anticipated to dominate the market throughout the course of the projected period.

Asia Pacific is anticipated to surge at a progressive CAGR during the forecasted years. This can be attributed to the increase in biphenyl demand from a number of end-use industries, such as textile, agriculture, food & beverage, chemical production, and others.

Some of the key players in the market include 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, 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