비페닐 시장 기회, 성장요인, 업계 동향 분석 및 예측(2026-2035년)

The Global Biphenyl Market was valued at USD 290 million in 2025 and is estimated to grow at a CAGR of 5.7% to reach USD 505.5 million by 2035.

Market growth is driven by the rising demand for biphenyl in the production of specialty chemicals. The pharmaceutical and agrochemical sectors increasingly rely on high-purity intermediates, making biphenyl a critical component in complex molecular formulations. Stricter regulatory requirements on chemical purity and performance are encouraging manufacturers to adopt biphenyl-based compounds for their stability and predictable results. Another significant driver is the expanding use of biphenyl as a heat transfer fluid and industrial solvent. Its excellent thermal stability and solubility make it ideal for high-performance industrial applications, particularly in the petrochemical and automotive sectors. Environmental and regulatory considerations also support biphenyl adoption, as its well-characterized safety profile and predictable behavior make it suitable for coatings, adhesives, plastics, and other regulated applications. Overall, the market is benefiting from a combination of industrial recovery, energy efficiency initiatives, and the need for reliable, compliant chemical solutions.

The technical-grade biphenyl segment will grow at a CAGR of 4.1% through 2035 due to the increasing replacement of lower-purity products with higher-purity biphenyl in more advanced and high-performance applications. Industries requiring stringent quality standards and enhanced chemical performance are favoring ultra-pure grades, which offer superior stability, consistency, and reactivity. This shift is limiting the demand for technical-grade biphenyl, which is primarily used in less complex applications where absolute purity is not a critical requirement.

The solid biphenyl segment is projected to capture 45% share in 2025, driven by its widespread use in pharmaceuticals, agrochemicals, and the production of specialty chemicals. Its popularity is supported by steady shipment growth at a CAGR of 5.4%. Solid biphenyl offers several operational advantages, including ease of handling, precise dosing capabilities, and stable storage properties, making it an ideal choice for applications requiring controlled and consistent chemical performance.

North America Biphenyl Market is expected to grow at a CAGR of 6.7% during 2026-2035. The region represents a mature and highly regulated market, where demand is primarily concentrated in pharmaceutical production, specialty chemical manufacturing, and established uses such as heat transfer fluids. Growth in the region is relatively stable, largely driven by regulatory compliance, incremental technological upgrades, and the need for consistent, high-quality products. Competitive differentiation in North America is increasingly shaped by factors such as innovation in application development, sustainable manufacturing practices, and advanced purification processes that enhance product performance and reliability.

Key companies active in the Global Biphenyl Market include Kishida Chemical Co., Ltd., Thermo Fisher Scientific, Eastman Chemical Company, Otto Chemie Pvt. Ltd., Ennore India Chemicals, and others. Market participants are strengthening their position by expanding high-purity biphenyl production capabilities, developing cleaner and more efficient synthesis processes, and diversifying feedstock sources to natural gas-based routes. Companies are also investing in R&D to enhance biphenyl applications in specialty chemicals, heat transfer media, and industrial solvents. Strategic partnerships with downstream chemical manufacturers and regional expansion initiatives help firms secure long-term contracts and global market share.

Table of Contents

Chapter 1 Methodology & Scope

• 1.1 Research approach
• 1.2 Quality Commitments
  • 1.2.1 GMI AI policy & data integrity commitment
    • 1.2.1.1 Source consistency protocol
• 1.3 Research Trail & Confidence Scoring
  • 1.3.1 Research Trail Components
  • 1.3.2 Scoring Components
• 1.4 Data Collection
  • 1.4.1 Partial list of primary sources
• 1.5 Data mining sources
  • 1.5.1 Paid sources
    • 1.5.1.1 Sources, by region
• 1.6 Base estimates and calculations
  • 1.6.1 Base year calculation for any one approach
• 1.7 Forecast model
  • 1.7.1 Quantified market impact analysis
    • 1.7.1.1 Mathematical impact of growth parameters on forecast
• 1.8 Research transparency addendum
  • 1.8.1 Source attribution framework
  • 1.8.2 Quality assurance metrics
  • 1.8.3 Our commitment to trust

Chapter 2 Executive Summary

• 2.1 Industry 360° synopsis
• 2.2 Key market trends
  • 2.2.1 Regional
  • 2.2.2 Purity
  • 2.2.3 Physical Form
  • 2.2.4 Application
  • 2.2.5 End Use Industry
  • 2.2.6 Distribution Channel
• 2.3 TAM Analysis, 2025-2034
• 2.4 CXO perspectives: Strategic imperatives
  • 2.4.1 Executive decision points
  • 2.4.2 Critical success factors
• 2.5 Future Outlook and Strategic Recommendations

Chapter 3 Industry Insights

• 3.1 Industry ecosystem analysis
  • 3.1.1 Supplier landscape
  • 3.1.2 Profit margin
  • 3.1.3 Value addition at each stage
  • 3.1.4 Factor affecting the value chain
  • 3.1.5 Disruptions
• 3.2 Industry impact forces
  • 3.2.1 Growth drivers
    • 3.2.1.1 Rising pharmaceutical API production driving demand for ultra-high-purity biphenyl intermediates
    • 3.2.1.2 Growing adoption of biphenyl-based heat transfer fluids across industrial thermal management systems
    • 3.2.1.3 Expanding high-performance polymer usage in aerospace, electronics, and advanced engineering plastics
  • 3.2.2 Industry pitfalls and challenges
    • 3.2.2.1 Stringent environmental regulations and PCB contamination concerns limiting production flexibility and approvals
    • 3.2.2.2 Volatile benzene feedstock pricing impacting production economics and long-term pricing stability
    • 3.2.2.3 Increasing competition from alternative heat transfer fluids and substitute chemical synthesis pathways
  • 3.2.3 Market opportunities
    • 3.2.3.1 Commercialization of bio-based and green-chemistry biphenyl production technologies
    • 3.2.3.2 Rapid expansion of electronics manufacturing requiring ultra-pure biphenyl for OLED and semiconductor applications
    • 3.2.3.3 Untapped demand in emerging Asia Pacific and Latin American industrializing economies
• 3.3 Growth potential analysis
• 3.4 Regulatory landscape
  • 3.4.1 North America
  • 3.4.2 Europe
  • 3.4.3 Asia Pacific
  • 3.4.4 Latin America
  • 3.4.5 Middle East & Africa
• 3.5 Porter’s analysis
• 3.6 PESTEL analysis
• 3.7 Price trends
  • 3.7.1 By region
  • 3.7.2 By purity grade
• 3.8 Future market trends
• 3.9 Technology and Innovation landscape
  • 3.9.1 Current technological trends
  • 3.9.2 Emerging technologies
• 3.10 Patent Landscape
• 3.11 Trade statistics (HS code)
  • 3.11.1 Major importing countries
  • 3.11.2 Major exporting countries
• 3.12 Sustainability and environmental aspects
  • 3.12.1 Sustainable practices
  • 3.12.2 Waste reduction strategies
  • 3.12.3 Energy efficiency in production
  • 3.12.4 Eco-friendly initiatives
• 3.13 Carbon footprint consideration

Chapter 4 Competitive Landscape, 2025

• 4.1 Introduction
• 4.2 Company market share analysis
  • 4.2.1 By region
    • 4.2.1.1 North America
    • 4.2.1.2 Europe
    • 4.2.1.3 Asia Pacific
    • 4.2.1.4 LATAM
    • 4.2.1.5 MEA
• 4.3 Company matrix analysis
• 4.4 Competitive analysis of major market players
• 4.5 Competitive positioning matrix
• 4.6 Key developments
  • 4.6.1 Mergers & acquisitions
  • 4.6.2 Partnerships & collaborations
  • 4.6.3 New Product Launches
  • 4.6.4 Expansion Plans

Chapter 5 Market Estimates and Forecast, By Purity Grade, 2022-2035 (USD Million) (Kilo Tons)

• 5.1 Key trends
• 5.2 Pharmaceutical Grade (≥99.5%)
• 5.3 Industrial Grade (99-99.5%)
• 5.4 Technical Grade (95-99%)

Chapter 6 Market Estimates and Forecast, By Product Type, 2022-2035 (USD Million) (Kilo Tons)

• 6.1 Key trends
• 6.2 Solid Form
  • 6.2.1 Flakes
  • 6.2.2 Powder
  • 6.2.3 Crystals
• 6.3 Molten/Liquid Form

Chapter 7 Market Estimates and Forecast, By Application, 2022-2035 (USD Million) (Kilo Tons)

• 7.1 Key trends
• 7.2 Chemical Synthesis Intermediate
• 7.3 Heat Transfer Agent
• 7.4 Specialty Applications

Chapter 8 Market Estimates and Forecast, By End Use Industry, 2022-2035 (USD Million) (Kilo Tons)

• 8.1 Key trends
• 8.2 Pharmaceutical Industry
• 8.3 Agrochemical Industry
• 8.4 Polymer & Plastics Industry
• 8.5 Electronics & Electrical Industry
• 8.6 Heat Transfer Fluid Industry
• 8.7 Other Industries

Chapter 9 Market Estimates and Forecast, By Distribution Channel, 2022-2035 (USD Million) (Kilo Tons)

• 9.1 Key trends
• 9.2 Direct Sales (Manufacturer to End-User)
• 9.3 Chemical Distributors & Wholesalers
• 9.4 Specialty Chemical Suppliers

Chapter 10 Market Estimates and Forecast, By Region, 2022-2035 (USD Million) (Kilo Tons)

• 10.1 Key trends
• 10.2 North America
  • 10.2.1 U.S.
  • 10.2.2 Canada
• 10.3 Europe
  • 10.3.1 Germany
  • 10.3.2 UK
  • 10.3.3 France
  • 10.3.4 Spain
  • 10.3.5 Italy
  • 10.3.6 Rest of Europe
• 10.4 Asia Pacific
  • 10.4.1 China
  • 10.4.2 India
  • 10.4.3 Japan
  • 10.4.4 Australia
  • 10.4.5 South Korea
  • 10.4.6 Rest of Asia Pacific
• 10.5 Latin America
  • 10.5.1 Brazil
  • 10.5.2 Mexico
  • 10.5.3 Argentina
  • 10.5.4 Rest of Latin America
• 10.6 Middle East and Africa
  • 10.6.1 Saudi Arabia
  • 10.6.2 South Africa
  • 10.6.3 UAE
  • 10.6.4 Rest of Middle East and Africa

Chapter 11 Company Profiles

• 11.1 BASF SE
• 11.2 Dow Inc.
• 11.3 Eastman Chemical Company
• 11.4 Huntsman Corporation
• 11.5 Jiangsu Zhongneng Chemical Technology Co., Ltd.
• 11.6 LANXESS AG
• 11.7 Merck KGaA
• 11.8 Mitsubishi Chemical Corporation
• 11.9 Solvay S.A.
• 11.10 Tokyo Chemical Industry Co., Ltd