The BAPP Market size is estimated to reach US$150 million by 2027, after growing at a CAGR of 6% during the forecast period 2022-2027. The growth
of the BAPP market will be highly influenced by surging demand from major
industries including electronics, healthcare and others. BAPP is a monomer used
to prepare polyimide and is increasingly utilized in applications involving adhesives, bleomycin BAPP in
pharmaceuticals and others. The increasing demand for BAPP in electronics for semiconductors,
integrated circuits and others act as a driver in the BAPP industry. For
instance, according to OBERLO, the total revenue of consumer electronics in the
U.S is expected to increase by 7.5% by 2023. The
growing electronics industry owing to rising demand for consumer electronics, an upsurge in production for electrical devices and an established manufacturing base
is fueling the growth scope for the BAPP industry.
BAPP Market: Leading Segment is the Electronics Industry
Based on the end-use industry, the BAPP market can be segmented into electronics, medical & pharmaceutical and others. The leading segment in the BAPP industry has been evaluated to be the electronics industry. During the forecast period 2022-2027, the electronics industry is projected to grow with a CAGR of 6.7%. This can be attributed to growth factors such as a significant upsurge in demand for smart home electrical appliances, growth in production and industrialization. For instance, according to the LG Electronics annual report, the sales of electronic appliances increased by 28.7% to reach US$65.32 billion in 2021 over 2020. Thus, the BAPP industry will grow significantly as a result of emerging applications of BAPP in the electronics sector over the forecast period.
BAPP Market: Leading Region is the Asia-Pacific
Based on Geography, the BAPP market can be segmented into North America, South America, Europe, APAC and ROW. According to IndustryARC's analysis, Asia-Pacific has emerged as the most profitable region. In 2021, the Asia-Pacific held a 44.8% share of the total revenues earned by the market globally. The APAC region is estimated to grow rapidly due to the established manufacturing base for electronics, the growing aerospace sector, the upsurge in the medical industry and urbanization trends. The electronics sector is lucratively growing in APAC due to the rising production of consumer electronics and an established production base.
For instance, according to the Japan Electronics and Information Technology Industries Association (JEITA), the production of consumer electronic equipment in Japan increased from US$215 million in January 2022 to US$230 million in March 2022. With robust growth scope for BAPP in the electronics industry for consumer electronics, semiconductors, integrated circuits and others across APAC countries, the BAPP industry will emerge significantly in over the forecast period. The BAPP market will also gain demand from the North American region. The U.S., Canada and others are emerging countries in the BAPP industry.
BAPP Market: Competitive Landscape
Key companies holding major shares in the BAPP market are SEIKA Group, UIV Chem and Nanjing Leading Chemical. Changzhou Sunshine Pharmaceutical, Wilshire Technologies, Thermo Fisher Scientific, Alfa Aesar, TCI Chemicals, Spectrum Chemical and Parchem.