Biphenyl Market - By Source, By Application and Forecast, 2025- 2034

Biphenyl Market Size

The global biphenyl market was valued at USD 287.2 million in 2024 and is estimated to grow at a CAGR of over 5.9% from 2025 to 2034.
 

The biphenyls market is witnessing significant growth, fueled by heightened R&D efforts to delve into the properties of biphenyls. Biphenyl, an aromatic hydrocarbon made up of two interconnected benzene rings, has garnered substantial attention due to its distinctive chemical characteristics and functionalities.
 

For example, in May 2023, researchers from the US and Portugal unveiled that molecular twisting enhances the stability of biphenyls, countering the long-held belief that perphenylanes are naturally unstable. The research team, spearheaded by Luis Santos from the University of Porto, discovered that in decaphenylbiphenyl and 2,2′,4′,6,6′-hexaphenylbiphenyls, molecular dispersion forces counteract steric repulsions in these densely packed molecules. They assessed the stability of these biphenyl derivatives through a blend of combustion calorimetry and density functional theory (DFT).
 

Research into the pharmacokinetics of biphenyl derivatives aims to forge new compounds with enhanced therapeutic benefits. The agrochemical sector leverages biphenyl compounds as key intermediates in crafting herbicides and fungicides. Furthermore, the electronics sector utilizes biphenyl, known for its strength and conductivity, in producing cutting-edge products and devices. These escalating R&D endeavors are not only amplifying the demand for biphenyl but also prompting industries to seek innovative solutions for enhanced product performance and sustainability. This trend is propelling market growth and unveiling fresh investment avenues.
 

However, the market faces notable challenges. A stringent regulatory landscape, coupled with environmental apprehensions, is stifling market growth. As natural pollutants, biphenyls present potential health and environmental risks, prompting rigorous safety regulations and escalating manufacturing expenses.
 

Biphenyl Market Trends

The biphenyl industry is witnessing increasing demand owing to the discovery of new biphenyl derivatives in the pharmaceutical industry. Recent research has highlighted the potential of biphenyl compounds in drug development. These derivatives exhibit unique biological activity, making them promising for treating various diseases such as cancer, cardiovascular disease, and neurological conditions. The antagonistic properties of some biphenyl derivatives, bacterial and fungal, have led to their use in the development of new antibiotics.
 

Furthermore, the versatility of biphenyl structures allows the development of drugs with improved efficacy and reduced side effects. New developments in drug delivery systems using biphenyl derivatives further enhance their therapeutic potential. This trend is fueled by ongoing research and development efforts, which continue to identify new therapeutic applications. Consequently, the market for biphenyls is expanding as pharmaceutical companies invest in these promising compounds to meet the growing demand for advanced therapies.
 

Biphenyl Market Analysis

Pharmacokinetics of biphenyl derivatives have been studied for the development of new compounds with improved therapeutic potential. The agrochemical industry benefits from the use of biphenyl compounds as intermediates in the manufacture of herbicides and fungicides. Also, the electronics industry uses biphenyl, which is strong and conductive, in the manufacture of advanced products and devices. These increasing R&D activities are driving the demand for biphenyl as industries seek new solutions to improve product performance and sustainability, thus driving market expansion and creating new investment opportunities.
 

Despite the promising growth, there are several roadblocks to the biphenyl market. Stringent regulatory framework and environmental concerns are severely hampering market expansion. Biphenyls, as naturally occurring pollutants, pose potential health and environmental hazards, leading to strict safety regulations and manufacturing costs.
 

These factors, in turn, influence the raw materials price fluctuations and the availability of high-purity biphenyls, affecting production costs and profitability. The market faces competition from new chemicals and materials offering similar benefits but lesser environmental impact and regulatory burden. All these factors collectively challenge the growth trajectory of the market and require solutions and new and sustainable practices to overcome these obstacles.
 

The biphenyl market, driven by its use in industrial applications, is seeing significant growth, with the crude oil biphenyl segment holding a dominant market size of USD 114.7 million in 2024 and projected to register a 5.5% CAGR through 2025-2034. Biphenyl, an aromatic hydrocarbon obtained during crude oil processing, is economically viable and extensively used in the petrochemical industry, especially for heating purposes during the transportation of sensitive materials. The steady supply of biphenyl from crude oil and the growing global demand for such products contribute to market growth. However, challenges such as fluctuations in crude oil prices and environmental concerns about the raw materials used in its production are factors that may influence demand
 

Based on application, the market from the heat transfer fluids segment is held 33.1% share in 2024 and is expected to dominate the market. Diphenyl, and diphenyl oxide, are eutectic compounds are widely used in high-temperature transport applications. Industries such as pharmaceuticals, need skilled communications and rely on these fluids to transport materials without damage from high temperatures. As the industries activity grow and expands globally, so does the need for efficient heat transfer solutions, leading to segment growth.
 

The China biphenyl market, valued at USD 15.5 million in 2024, is witnessing rapid growth fueled by several factors. Increasing demand from the petrochemical industry, where biphenyl is used for applications like heat transfer in the transportation of sensitive materials, is one of the key drivers. The ongoing industrialization and expansion of manufacturing sectors in China contribute to the growing need for biphenyl. Additionally, the country's significant crude oil production and refining capacity provide a steady supply of biphenyl, enhancing its availability and economic viability. The market is also supported by the rising demand for high-performance chemicals in various applications, such as electronics, agriculture, and pharmaceuticals. However, the market faces challenges such as fluctuations in crude oil prices and environmental concerns regarding the raw materials used in biphenyl production. Despite these hurdles, China's growing industrial base and demand for chemicals ensure strong market prospects for biphenyl in the coming years.
 

Biphenyl Market Share

The concerted efforts of the dedicated companies in this field drive the market demand for biphenyl. Leading companies are investing in advanced research and development to explore new applications and increase the performance of biphenyl derivatives. Companies focus on sustainable manufacturing to address environmental concerns in line with global regulatory standards. Strategic partnerships and expansion in high-growth regions such as Asia-Pacific strengthen market presence and meet local needs. Moreover, companies are developing innovations in manufacturing processes, such as more efficient water heaters and chemical intermediates, thereby boosting market growth. All these efforts are driving increased demand for biphenyl in various industries
 

Biphenyl Market Companies

Major players operating in the biphenyl industry are:

• Matrix Scientific
• LGC Standards (part of LGC Group)
• Taj Pharmaceuticals Ltd
• Biosynth Carbosynth
• Huntsman
• Lanxess AG
• ABCR GmbH
• AK Scientific, Inc.
• Eastman Chemical Company
• Thermo Fisher Scientific
• Merck KgaA
• Tokyo Chemical Industry Co., Ltd.
• Santa Cruz Biotechnology
• Clearsynth Labs
• Debye Scientific Co., Ltd.
   

Biphenyl Industry News

• In November 2022, AccuStandard was recognized as one of the selected companies worldwide to provide certified labeling materials for all 209 Poly Brominated Diphenyl Ether (PBDE) chemical congeners. PBDEs are synthetic chemicals primarily used as flame and fire retardants commonly used in plastics, textiles, and electronics.
   

This Biphenyl market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) & volume (Tons) from 2021 to 2034, for the following segments:

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• Market, By Source
  • Crude oil biphenyl
  • Coal tar biphenyl
  • Natural gas biphenyl
• Market, By Application
  • Heat transfer fluids
  • Chemical intermediate
  • Fungicide
  • Dyestuff carrier for textiles
  • Food & beverages
  • Solvents for pharmaceutical production

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia 
• Latin America
  • Brazil
  • Mexico
• MEA
  • UAE
  • Saudi Arabia
  • South Africa