I'm guessing you're the girl here... right?
Well to answer your question,
Yes, it is very possible for a man to have sex without ever feeling any connection, emotional and physical, for his partner at all even if he isn't seeing anybody else at that current moment.
Maybe your guy isn't ready for a relationship.
Maybe your guy is scared that he'll lose you if he were to take it a step further by dating you.
One way to know that a bed buddy is more to a man is when that man does more than have sex with his partner.
Like taking her out for lunch or spending a day at the beach with her.
You get the idea.
Also when he starts depending on you for more than sexual gratification, you know he is ready to take the relationship to the "next level"
Basically talk to him.
Talk to him face to face.
Tell him you want more out of this relationship and see how he respond.
Tell him how you feel and what you wish he would do.
Keep us updated and I will be more than happy to answer any other questions you may have.
Cheers,
Peter