Bisphenol A

Bisphenol A (BPA) Recent Market Intelligence, Analysis, and Forecast

I. Recent Market Intelligence
(A) Price Trend
- Benchmark Price: According to ChemNet China, the BPA benchmark price was RMB 8,500.00/ton on June 29, 2026; RMB 8,520.00/ton on June 26; RMB 8,560.00/ton on June 25; RMB 8,580.00/ton on both June 24 and June 23; and RMB 8,290.00/ton on July 7—indicating an overall volatile downward trend.
- Average Deviation: ChemNet China’s BPA average deviation also fluctuated significantly. It stood at RMB 0.00/ton on June 21, widened negatively to -RMB 58.00/ton on June 29, and further expanded negatively to -RMB 90.50/ton on July 6—reflecting increasing divergence between market prices and the benchmark price.

(B) Raw Material Markets
- Phenol: Since June 2026, phenol prices in China have experienced frequent fluctuations and an overall upward trend. From June 8–9, multiple producers—including Zhejiang Petrochemical, Lihuayi Weiyuan, Shandong Fuyu Petrochemical, GaoHua Materials, Jiangsu Ruiheng New Materials, and Shenghong Refining & Chemical—raised phenol prices by RMB 100–300/ton. However, on June 25, Longjiang Chemical and Jiangsu Ruiheng New Materials lowered their phenol quotations, with Longjiang Chemical cutting its price by RMB 400/ton.
- Acetone: On July 8, 2025, Shandong Fuyu Petrochemical reduced its acetone price by RMB 100 to RMB 4,900/ton; Lihuayi Weiyuan Chemical Co., Ltd. also lowered its acetone ex-factory settlement price by RMB 100 to RMB 5,000/ton. In contrast, Jiangsu Ruiheng New Materials adjusted its acetone pricing downward on June 26, reflecting ongoing market volatility.

(C) Corporate Dynamics
- Production Status: As of July 8, 2025, Shandong Fuyu Petrochemical’s 180,000-ton/year BPA unit operated at low load; the company cut its BPA price by RMB 50 to RMB 8,000/ton, with inventory levels described as “normal.” As of August 8, 2025, China’s national BPA operating rate stood at 76.05%, up 12.04 percentage points year-on-year; total industry inventory reached 22,600 tons, down 0.44% YoY.
- Plant Maintenance & Shutdowns: Ahead of the Qingming Festival in 2024, production stoppages occurred at Liaoning’s single-line facility, load reductions at Changshu’s plant, and shutdowns at a Henan facility—collectively tightening supply. Post-Qingming, delayed restarts of the Liaoning line and postponed trial operations at Huizhou Phase II further supported market sentiment. In late May 2024, maintenance shutdowns affected BPA units in Shandong, Hebei, Guangxi, and Liaoning, while a Heilongjiang facility operated at reduced load—significantly curtailing domestic BPA supply. On June 23, 2026, Lihuayi’s phenol unit ran at low load with low inventory.

(D) Downstream Markets
- Polycarbonate (PC): In 2024, PC accounted for 58% of global BPA consumption—the primary growth driver for BPA demand. In 2025, PC capacity expansion has decelerated: apart from Fujian’s 180,000-ton/year PC plant slated for commissioning in Q4 2024, only limited expansion potential remains (e.g., a Shandong-based facility). Between November–December 2024, load rates gradually recovered at previously idled PC plants in Shandong, Hebei, Henan, and Jiaxing; meanwhile, Zhangzhou’s new 180,000-ton/year PC plant commenced trial production in November and began procuring BPA externally—boosting near-term BPA demand.
- Epoxy Resins: In 2024, epoxy resins accounted for 29% of global BPA consumption. In 2025, more epoxy resin capacity additions are planned versus PC—totaling four new facilities with combined capacity of 600,000 tons/year: Guangdong (140,000 tons), Anhui (140,000 tons), Hunan (170,000 tons), and Shandong (150,000 tons). In December 2024, rising input costs—specifically for BPA and epichlorohydrin—pushed epoxy resin prices to annual highs. Robust export orders and wind-power-related demand further strengthened seasonal demand, elevating downstream purchasing enthusiasm for BPA.

II. Analysis and Assessment
(A) Supply Side
- Planned BPA capacity growth in China is slowing. With industry profit margins remaining low, future project execution faces significant uncertainty. Although three additional BPA facilities (totaling 720,000 tons/year) are scheduled for commissioning in 2025, delays or cancellations remain probable. Globally, some overseas facilities are shutting down—e.g., Westlake Chemical announced on June 17, 2025, its intention to close its Pernis, Netherlands plant (150,000 tons/year). Consequently, China’s share of global BPA production is poised to rise further. Recently, domestic operating rates have been volatile due to low-load operation and scheduled maintenance, constraining overall supply.

(B) Demand Side
- PC and epoxy resins constitute BPA’s two largest end-use segments. While PC capacity growth has slowed, newly commissioned units and recovering loads at existing plants still provide incremental BPA demand. Meanwhile, the relatively larger number of upcoming epoxy resin projects—and seasonally strong demand—support continued BPA procurement activity. However, downstream buyers’ tolerance for high BPA prices remains limited, potentially tempering demand growth.

(C) Cost Structure
- Fluctuations in phenol and acetone prices exert substantial influence on BPA production costs. Phenol prices have been highly volatile with an overall upward bias recently, while acetone prices have also shown instability—increasing uncertainty around BPA production cost structures. Such cost pressures may prompt producers to adjust pricing strategies: cost increases could trigger upward price adjustments, but downstream acceptance thresholds must be carefully considered.

III. Outlook
(A) Price Trend
- In the short term, BPA prices are likely to remain volatile, with limited upside or downside range. Influencing factors include raw material price movements, plant operating rates, and downstream procurement timing. Should phenol prices sustain upward momentum and operating rates fail to rebound meaningfully, modest price increases are possible. Conversely, if downstream resistance to elevated prices intensifies and purchasing slows, prices may face downward pressure.

(B) Supply-Demand Balance
- On the supply side, gradual resumption of maintenance-idled units and phased commissioning of new capacity will likely increase output—but at a relatively moderate pace. On the demand side, growth from PC and epoxy resin sectors will continue supporting the BPA market; however, demand increments may lag behind supply growth, resulting in persistent—but potentially easing—supply-demand imbalances.

(C) Market Trends
- Over the longer term, the BPA market is expected to evolve toward greater rationality. Intensifying industry competition and sustained margin pressure will drive manufacturers to prioritize cost control and product quality enhancement. Concurrently, downstream sector development and shifting demand patterns will steer the BPA market toward diversification and higher-value applications. Additionally, international trade developments and regulatory policy changes may exert notable influence on the BPA market.