Biphenyl Market Set to Reach USD 539.6 Million by 2035, Driven by Industrial Demand and Green Innovations

The global biphenyl market is entering a transformative decade, balancing established industrial demand with the emergence of new technologies and greener production methods. Valued at USD 304.1 million in 2025, the industry is projected to expand steadily and achieve a valuation of USD 539.6 million by 2035, reflecting a compound annual growth rate (CAGR) of 5.9%.

This growth trajectory underscores biphenyl’s versatility and critical role as a chemical intermediate, a component in heat transfer fluids, and a foundation for pharmaceutical and agrochemical applications. Both long-established manufacturers and new entrants are shaping this market through investments in efficiency, cleaner production, and innovative formulations.

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Market Dynamics and Growth Potential

Biphenyl contributes nearly 0.9% to the global organic chemicals market and plays a more significant role in certain specialties such as heat transfer fluids, where its share rises to 4.2%. Its presence as an intermediate in agrochemicals accounts for 2.6%, while pharmaceutical applications represent 1.1% of global utilization.

These numbers reflect more than just production—they highlight biphenyl’s function as a connector between industries. It enables safer heat transfer in power and chemical plants, strengthens crop protection formulations, and aids in the synthesis of advanced pharmaceutical compounds.

Recent industry trends reveal a clear pivot: demand for high-purity biphenyl is rising, particularly for electronic and pharmaceutical uses. Manufacturers are now investing in purification technologies and eco-friendly synthesis pathways to align with tightening global regulations.

Why is the Biphenyl Market Expanding?

The growth of the biphenyl market stems from its adaptability across industries. In heat transfer fluids, biphenyl is valued for its thermal stability, low volatility, and energy efficiency. Its role in organic synthesis ensures ongoing demand from coatings, resins, and polymer manufacturers.

Meanwhile, the global focus on food security and agricultural efficiency is fueling demand in agrochemicals, where biphenyl intermediates support the development of effective pesticides and crop protection solutions. In pharmaceuticals, biphenyl derivatives continue to find use in intermediates for drug formulations.

The interplay of these drivers highlights biphenyl’s resilience: even when regulatory pressures limit certain uses, new applications emerge to sustain market growth.

Key Industry Challenges

Despite its strengths, the biphenyl market faces several challenges. One of the most pressing is regulatory oversight. Classified as a hazardous material, biphenyl production and handling must adhere to strict occupational and environmental standards. This creates compliance costs that can weigh heavily on smaller producers.

Another challenge is its dependence on petrochemical feedstocks such as benzene. Market fluctuations in crude oil directly affect biphenyl pricing and supply stability. Producers are responding with strategies like long-term contracts, backward integration, and logistics optimization to manage volatility.

Additionally, sustainability pressures are prompting companies to rethink their production models. Bio-based and low-emission alternatives are becoming a focus area, with research institutions and corporate R&D teams collaborating on greener chemistry solutions.

Innovations Shaping the Future

The future of the biphenyl market is expected to be shaped by technological advancements and sustainable practices. Concentrated solar power plants and chemical manufacturing facilities are increasingly adopting biphenyl blends for advanced heat transfer systems.

At the same time, regulatory-driven innovation is encouraging the development of safer biphenyl alternatives and high-purity derivatives for pharmaceuticals and electronics. Collaborations between industrial players and research institutes are also gaining momentum, ensuring that biphenyl applications evolve with industry needs.

Manufacturers are not just expanding production—they are investing in green chemistry, emissions reduction, and cleaner synthesis pathways. These efforts will not only meet regulatory requirements but also improve competitive positioning in a market where sustainability is no longer optional.

Industry Players Driving Growth

The biphenyl market is shaped by a diverse mix of global giants, regional producers, and niche innovators. Established players are strengthening supply reliability, while new entrants are focusing on research-driven solutions and eco-friendly derivatives.

Key Players in the Biphenyl Market:

• Lanxess AG
• Matrix Scientific
• LGC Standards (part of LGC Group)
• Taj Pharmaceuticals Ltd
• Biosynth Carbosynth
• Huntsman
• 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.

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Biphenyl Market by Segments

Source:

• Crude oil biphenyl
• Coal tar biphenyl
• Natural gas biphenyl

Application:

• Heat transfer fluids
• Chemical intermediate
• Fungicide
• Dyestuff carrier for textiles
• Food & beverages
• Solvents for pharmaceutical production

Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• East Asia
• South Asia and Pacific
• Middle East & Africa

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.