For the Quarter Ending March 2022
North America
During the first quarter of 2022, Bisphenol A prices witnessed a mixed trend with high volatility in the prices. Bisphenol A's price rose in January, followed by a drop in February due to the limited use of BPA in plastics used in food packaging, as excessive exposure to BPA can be harmful. In February, BPA prices declined by 3.2%, and the price settled at USD 4060 per MT FOC Texas. Later, in March, there was a slight rise in BPA prices owing to the soaring upstream crude and rising demand from automotive industries to produce polycarbonate plastic and epoxy resins.
Asia Pacific
Bisphenol A prices shows mixed sentiments in Asia during the first quarter of 2022. In January and February, prices dropped owing to the lacklustre demand from the domestic market along with the high inventory levels in the downstream industries. The price declined by about 4.4% from January to February. Later, in March, prices witnessed a rise due to the limited supply of the product from Taiwan, as it is the major exporter of Bisphenol A to India. Moreover, rise in construction activities in the Asian market resulted in high demand for downstream polycarbonate, epoxy resins etc., which influenced the Bisphenol A market. Thus, prices for Bisphenol A in India settled at USD 3056 per MT in March by the quarter ending 2022.
Europe
During the first quarter of 2022, Bisphenol A prices showcased marginal upward movement. The cost of Bisphenol A rose due to the high upstream crude and feedstock acetone and phenol prices as a result of Russia's invasion on Ukraine. Moreover, the disruption in trade due to soaring fuel prices also influenced the Bisphenol A market. In March, the prices of Bisphenol A in Turkey increased to USD 1642 per MT CFR Izmir.
For the Quarter Ending December 2021
North America
In Q4 2021, North America witnessed a consistent fall in the demand for resins amidst the appreciable improvement in the supply of feedstock Phenol. After the Ida hurricane in Q3, supply of Bisphenol A (BPA) improved linearly with resumption in plant operations. Plant operating rates almost reached normalcy by Q4 which led to vast product availability. Seasonal slowdown in demand especially from the automotive sector plummeted the demand for resin solvents in North America. In addition, export inquiries from various countries also remained dull amidst mounting inventory levels. However, in late-December, inquiries again increased which stabilized the declining trajectory of Phenol and Bisphenol A in the regional market. Feedstock Phenol FOB prices in USA were assessed at USD 1470 per MT in December.
Asia
BPA prices in the Asian market turned bleak in the second half of Q4 2021.The Chinese BPA market observed a slight rebound right after the Golden Week holiday, and then the offered quotations from the manufacturers fell tremendously in the third week of October. The spread between Polycarbonate and BPA widened in the regional market towards the closure of the month. Bisphenol market in China after experiencing stagnancy in early November tuned bearish towards the end of the month. The trading for downstream resin market appeared cold due to the decline in year-end offers. Buyers adopted a wait and see approach expecting a further decline in prices owing to the volatile demand. As upstream values of Phenol were also uncertain, limited purchases were witnessed in the final month of December. BPA prices in China were assessed at USD 2590 per MT towards the end of December.
Europe
In Europe, Bisphenol A prices witnessed mixed sentiments during Q4 owing to the volatility in prices of feedstock Phenol and Acetone during this quarter. Supply chain challenges and freight rates gradually eased entering Q4, however the energy crises in the regional led to higher plant operating cost. Resin demand remained in a narrow range with low operating rates of end use industries in the last month of Q4. After reaching record high, in December, Bisphenol A prices in Europe thus dwindled to USD 2240 per MT.
For the Quarter Ending September 2021
North America
The overall market of Bisphenol A in North America witnessed an upward trajectory during the third quarter of 2021. The prices of BPA surged effectively throughout the quarter. Cash prices for US-Southwest delivery locations were hiked in the mid-July trading, driven higher by ongoing uncertainty over wildfire impacts on power imports. Halt in the supply chain of feedstock from the Asian countries somehow affected the global petrochemicals market, which further led to a hike in the prices of BPA in North America. The demand for BPA by the downstream epoxy and Polycarbonate resin manufacturers also increased significantly in Q3 of 2021.
Asia
During the third quarter of 2021, the market outlook for Asian petrochemical industries remained bearish. Container shortages and high freight rates became a challenge in the shipping of products, while some China-based companies were affected by dual-control regulations introduced by the leading authorities by the end of Q3. In China, the FOB Tianjin price was settled at USD 4185/MT at the end of September. A steep rise in feedstock acetone and phenol in the international market resulted in a sharp spike in the prices of BPA in India. In India, Ex- Vapi prices escalated from USD 2846/MT to USD 3829/MT during the quarter. Leading domestic manufacturers of Phenol and Acetone face a surge in demand, just after the announcement of force majeure by Taiwan’s largest Acetone and Phenol manufacturer. This, force majeure also impacted the supplies to UK and US, and eventually affected the production of Bisphenol A, leading to a steep rise in its prices.
Europe
In Q3, the European market experienced mixed sentiments due to the limited supply of the key raw materials from several Asian countries. The price trend of Bisphenol A witnessed a steep rise in the European region due to the hike in demand from the downstream manufacturers. The critical shortage of containers and high shipping charges of BPA from Asia highly influenced the prices of the product in Europe throughout the quarter.
For the Quarter Ending June 2021
North America
Bisphenol A prices rose effectively during this quarter, backed by the curtailed supply activities across the Gulf of USA. In second half of February, chilling weather across Texas declined production activities across the area, which led to the shortage of Bisphenol A (BPA) and other downstream derivatives like Epoxy Resins and Polycarbonate across the region. Despite of the improvement in production activities during May and June, prices of BPA continued to surge till the end of the quarter, as the supply did not improve significantly. Therefore, prices of BPA rose from USD 3445/MT to USD 3730/MT within Q2 in USA.
Asia
Asian market showcased mixed sentiments in Q2, as the demand fundamentals varied country over country. In China, limited availability amidst firm demand from downstream Epoxy Resin and Polycarbonate sector increased the prices of Bisphenol A in the country till mid-May. Later, prices declined effectively in the month of June and reached USD 3140/MT in China. Meanwhile in the Indian market, prices fluctuated due to fluctuation in the demand fundamentals in effect of second wave of pandemic in the country. Demand from domestic Polycarbonate segment remained low, however epoxy resin segment dominated the overall consumption in India which made the prices to reach USD 3117/MT during last week of June.
Europe
European market was also affected by the global shortage of Bisphenol A (BPA), where the prices rose effectively and compelled the downstream manufacturers to increase their product prices across the region. Meanwhile, Covestro announced positive revision in prices of downstream Polycarbonate in Europe Middle East and Africa, due to consistent rise in price of Bisphenol A. Critical shortage of BPA in Asian market highly influenced the prices of the product in European market during this time period.
For the Quarter Ending March 2021
North America
Winter storm across USA disrupted the overall production of Bisphenol A, as most of petrochemical plants were idled due to unfavourable operating conditions. Hexion’s Deer Park Texas BPA plant faced force majeure as the weather conditions were not suitable to run the plant. This shut down affected the supply of BPA across the region, where the demand was running high from downstream epoxy resin and polycarbonate sector. Tight feedstock availability dented the PC production levels, forcing several players to raise their regional offers.
Asia
The Asian BPA market reported firm demand from the downstream sector amid persistent supply constraints during Q1 2021. In the Chinese market, imports were high due to firm demand from downstream Polycarbonate and Epoxy resin producers, although the supply remained insufficient, that supported the price uptrend. Meanwhile in the Indian market, downstream epoxy resin market was reaching its record high prices due to high demand and low supply of BPA. Bisphenol A prices in both the countries rose effectively within the quarter and were assessed at USD 1680/MT FOB China and USD 1256.26/MT CFR India during March 2021.
Europe
The European BPA market reported firm demand from the downstream sectors, although the supply remained critically low, which supported the prices effectively. Several plants across the region remained offline for different reasons, like Hexion’s Netherland plant faced force majeure due to technical glitch, which halted the regional supply. Meanwhile, buying activity remained strong, supported by better offtakes downstream Epoxy and Polycarbonate producers. On the other side Suez Canal blockage during March affected the supply of the region and provided temporary boost to the product prices.
For the Quarter Ending September 2020
Asia
The Asian Bisphenol A (BPA) markets registered strong demand growth in Q3 2020, with growing demand from the downstream Polycarbonate resins sector, driven by sharp uptick in the automotive and transportation sector which had been contributing to improved margins. Tight regional supply due to maintenance turnarounds in China further pushed the export prices of product during the quarter. It is being anticipated that Asian BPA supplies could stay tight for quite a while during Q4 2020 on production constraints, with consumers fearing that prices may not relax soon. Korea’s Kumho P&B Chemicals is slated to remain shut during the October month, further heightening the consumer worries.
Europe
European BPA producers reported muted third quarter as surging coronavirus cases knocked down the possibility of quick revival in the PC industry. Contrary to the Asian market, the European BPA industry remained well supplied with players continuously striving to improve margins by announcing small price increases in early September and Q4 negotiations. Resilient polycarbonate demand from the global medical equipment remained a positive highlight while sectors like automotive and transportation reported dull quarterly results.
North America
Bisphenol A demand in North America regained momentum after a strong uptick in demand was observed from the major end-markets automotive, construction and home-appliances sector following a weak second quarter due to the pandemic. With trading picking up speed prior to the new-year holidays and festive season, buyers and importers are busy in restocking inventories at this time. Lengthy supply however remained pressuring the US BPA producers who reported prices turning flat August onwards despite gradually improving demand.
