Biphenyl market seen reaching $1.98 billion by 2031

Allied Market Research says the global biphenyl market was valued at $1.24 billion in 2021 and is projected to grow to $1.98 billion by 2031. Demand from packaged foods, textiles, and pharmaceuticals is expected to drive growth, while North America remains the largest regional market and Asia-Pacific grows fastest.

Why it matters: - Biphenyl is used in food packaging, textiles, chemicals, pharmaceuticals, and heat transfer applications, so market growth tracks demand across several industrial sectors. - The market’s projected rise to $1.98 billion by 2031 points to steady demand for packaged foods, consumer goods, and industrial uses. - Health concerns tied to prolonged biphenyl exposure could limit growth even as new applications expand.

What happened: - Allied Market Research valued the global biphenyl market at $1.24 billion in 2021. - The firm projects the market will reach $1.98 billion by 2031. - The forecast implies a 4.8% CAGR from 2022 to 2031. - The report covers biphenyl by source: crude oil, coal tar, and natural gas. - The report also breaks the market into dye carrier, food and beverages, chemical intermediates, pharmaceutical solvent, and other applications.

The details: - Consumer demand for packaged food products and urbanization are key growth drivers. - Biphenyl is widely used in food packaging, textiles, chemicals, and pharmaceuticals. - Prolonged exposure to biphenyl has been associated with kidney dysfunction, cardiovascular complications, and gastrointestinal disorders. - Pharmaceutical research is creating new opportunities for biphenyl-based compounds in hypertension, osteoarthritis, diabetic nephropathy, Alzheimer's disease, rheumatoid arthritis, prostate cancer, and other chronic conditions. - The coal tar segment held the largest share of revenue in 2021, with more than half of the global total. - Coal tar-derived biphenyl is used in medications for skin disorders. - The crude oil segment is forecast to grow fastest, at a 5.1% CAGR. - Textile dyeing demand is expected to support crude oil segment growth. - The dye carrier segment led applications in 2021 with nearly one-third of global revenue. - Biphenyl helps dye penetration into polyester fibers and improves color uniformity and fabric quality. - The food and beverages segment is projected to post the highest application growth, at a 5.3% CAGR. - Biphenyl is used as a preservative to inhibit fungal growth in packaged and convenience foods.

Between the lines: - The strongest demand signals come from everyday consumer categories, not just niche industrial uses. - The mix of growth drivers and safety concerns suggests a market with broad demand but a ceiling shaped by regulation, health scrutiny, and substitution risk. - Pharmaceutical research could diversify demand if biphenyl-based compounds prove useful in more therapies. - The regional split shows mature demand in North America and faster industrial expansion in Asia-Pacific.

What's next: - North America is expected to remain the largest regional market through 2031. - The region’s position is supported by use of biphenyl as a heat transfer fluid in aerospace, especially in the United States. - North America also benefits from demand in packaged food and beverage applications that help control fungal contamination. - Asia-Pacific is forecast to expand fastest, with a 5.9% CAGR from 2022 to 2031. - Rapid industrialization, manufacturing growth, and adoption across power generation, textiles, agriculture, aviation, and chemical manufacturing are expected to support Asia-Pacific demand. - Key market players include ABacipharm Corporation, Alfa Aesar, Biosynth Carbosynth, Daken Chemical Limited, Eastman Chemical Company, 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. - More information is available in the sample pages of the research overview and the purchase options page.

The bottom line: - Biphenyl demand is projected to keep growing through 2031, with packaged foods, textiles, and pharmaceutical research doing the most to support the market.