At present, the price trend of bisphenol A in Asia, particularly in China, remains uncertain. However, market analysts are forecasting a tight supply situation for bisphenol A this year. This is largely attributed to reduced production levels and robust downstream demand, especially from the polycarbonate industry.
In 2005, several new bisphenol A plants came online in Asia, leading to a sharp drop in spot prices for epoxy-grade bisphenol A, particularly in China. The following year, 2006, saw the completion of multiple new polycarbonate facilities, which increased demand for bisphenol A. However, there have been no major expansion plans for bisphenol A production itself. As a result, the supply-demand balance is expected to remain tight.
Notable new or expanded polycarbonate projects include Bayer’s 100,000-ton/year facility at its Shanghai Chemical Base, set to start operations this year. Teijin has also expanded its Zhejiang plant from 50,000 to 100,000 tons/year, while Chi Mei Chemical in Taiwan plans to boost its capacity by 70,000 tons/year.
On the supply side, the operating rates of bisphenol A plants have continued to decline. High benzene prices have made it more profitable for some companies in South Korea and Taiwan to reduce bisphenol A output. For example, the Changchun Petrochemical plant in Taiwan is currently running at only 50% capacity, and the new unit at South Asia Plastics No. 3 remains shut down. In South Korea, LG Petrochemical may cut production by 20%, and Kumho P&B Chemicals is also considering reductions.
No new bisphenol A plants were commissioned globally in 2006, while many downstream facilities, such as South Asia Plastics’ epoxy resin plant in Kunshan, Jiangsu, began operations. This plant will have a capacity of 100,000 to 130,000 tons per year. Industry experts from the China Epoxy Resin Industry Association note that regional demand for bisphenol A is rising sharply, which is likely to exacerbate supply shortages in the coming months.
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