For the Quarter Ending December 2024
North America
Throughout Q4 2024, the Bisphenol A (BPA) market in North America experienced mixed price movements. Prices rose slightly in October, supported by higher feedstock phenol costs and tighter supplies from Asian exporting nations. However, the gains were short-lived, as the last two months of the quarter saw prices return to a declining trajectory.
Persistent oversupply and subdued demand from downstream sectors, including polycarbonate (PC) and epoxy resin, exerted downward pressure. By December, BPA prices in the USA had dropped to USD 1,419/MT CFR Texas, marking a 4.1% decline from earlier levels. Reduced import costs, weak construction activity, and economic uncertainties further weakened market sentiment.
Operating rates at BPA plants remained stable, but downstream sectors struggled with excess inventory and limited profitability. Seasonal factors and structural inefficiencies in end-use industries, such as automotive and construction, compounded the bearish outlook. As the market closed the quarter, ongoing oversupply and restrained purchasing activity suggested little immediate recovery, leaving manufacturers focused on inventory management and targeted discounts to mitigate financial pressures.
APAC
Throughout Q4 2024, the Bisphenol A (BPA) market in the Asia-Pacific (APAC) region witnessed a continuous decline in prices, driven by persistent oversupply and weak demand from downstream sectors such as polycarbonate (PC) and epoxy resin. The lack of seasonal demand recovery and subdued construction activities further exacerbated the downturn. Feedstock prices, including phenol and acetone, offered limited cost support, with mixed trends adding to market uncertainty.
In China, BPA prices dropped steadily as high inventory levels and weak enterprise profitability weighed on the market. Operating rates in the domestic PC sector fluctuated but failed to align with consumption, leading to significant stockpiles. Similarly, the epoxy resin sector saw minimal restocking activity, with demand confined to immediate requirements. Despite sporadic feedstock price fluctuations and occasional production adjustments, oversupply and restrained end-user demand dominated market sentiment.
By the end of the quarter, BPA prices in China had declined to USD 1,190/MT FOB Qingdao, reflecting ongoing bearish sentiment. Recovery signals remained absent as the market entered the new year under persistent downward pressure.
Europe
Throughout Q4 2024, the Bisphenol A (BPA) market in Europe experienced a varied pricing trend, with declines in October and November, followed by a recovery in December. Weak demand from downstream sectors, coupled with competitive import prices and high inventories, pressured the market early in the quarter. However, rising freight rates from Asia to Europe and steady downstream demand improvement supported a price rebound in December.
In October and November, BPA prices declined due to limited purchasing activity in the polycarbonate (PC) and epoxy resin sectors. The Eurozone’s contracting construction output and subdued economic conditions exacerbated market pressures. Additionally, low feedstock costs from phenol and acetone further reduced production incentives, contributing to the bearish sentiment.
December marked a turnaround, with prices rising as freight rates along Asia-Europe routes increased significantly due to pre-Lunar New Year demand and logistical challenges in Asia. By the end of the quarter, BPA prices in the Netherlands stood at USD 1,585/MT FD-Rotterdam, highlighting the bullish sentiment driven by tighter supply, improved downstream activity, and sustained freight cost pressures.
For the Quarter Ending September 2024
North America
Throughout Q3 2024, the Bisphenol A pricing scenario in North America witnessed a notable decline, with the USA experiencing the most significant price changes. Several factors contributed to this downward trend. Oversupply in the market, driven by abundant global production and sluggish demand from downstream sectors like polycarbonate and epoxy resins, exerted immense pressure on prices. Weak economic conditions and a seasonal slowdown further exacerbated the situation. The bearish market sentiment was also influenced by low cost imports, reduced cost support from key feedstocks, and declining crude values, impacting overall pricing dynamics.
In comparison to the same quarter last year, prices saw a substantial decrease of 10%, reflecting the persistent downward trajectory. Furthermore, there was a 4.9% decrease from the previous quarter in 2024. The second half of the quarter witnessed a 4% decrease compared to the first half, underlining the continued price deterioration trend.
The latest quarter-ending price for Bisphenol A in the USA stood at USD 1484/MT, CFR Texas, signifying the prevailing negative pricing environment characterized by instability and downward pressure on market prices.
APAC
Throughout the Q3 2024, the Bisphenol A (BPA) market in the APAC region experienced a notable decline in prices. Several key factors contributed to this downward trend. Weak demand from downstream sectors, such as epoxy resin and polycarbonate, played a significant role in the pricing dynamics. Additionally, limited cost support from feedstocks like acetone and phenol further weakened market confidence. The market sentiment remained negative due to sluggish global demand, new capacity additions, and declining crude values during the quarter. In Japan, the market saw the most significant price changes, with prices decreasing by 14.1% compared to the same quarter last year. The quarter recorded a 7.6% decrease from the previous quarter in 2024. The first half of the quarter also saw a decrease in prices compared to the second half. By the end of Q3, BPA prices in Japan settled at USD 1195/MT FOB Osaka, reflecting the overall lack of momentum and insufficient demand to support a market rebound.
Europe
Throughout the third quarter of 2024, the Bisphenol A (BPA) market in Europe witnessed a significant decline in prices, primarily influenced by a multitude of factors. Weak demand from downstream sectors like polycarbonate and epoxy resin, coupled with low import prices from exporting nations, created an imbalance between supply and demand. Additionally, limited cost support from feedstocks such as acetone and phenol further weighed on market prices. The oversupply situation was aggravated by several BPA production units resuming operations in the APAC region, exacerbating the downward price trend. Specifically focusing on the Netherlands, the region experienced the maximum price changes during the quarter. The overall trend in pricing reflected a consistent decrease, with a 12.1% decline compared to the same quarter last year. Furthermore, there was a 5.5% decrease from the previous quarter in 2024 and also saw a decrease in prices between the first and second half of the quarter. The quarter-ending price for BPA in the Netherlands stood at USD 1590/MT FD-Rotterdam, highlighting the persistent negative sentiment in the pricing environment.
MEA
In Q3 2024, the Bisphenol A market in the MEA region experienced decreasing prices, reflecting a -7% change from the same quarter last year. Various factors influenced this trend, including a significant oversupply of BPA in the market, sluggish demand in downstream sectors, and weakening support from feedstocks like acetone and phenol. These conditions led to a bearish sentiment, with prices declining by 3.9% from the previous quarter in 2024. Saudi Arabia witnessed the most substantial price changes during this period, with a notable -4% shift in prices between the first and second half of the quarter. The market in Saudi Arabia exhibited a consistent downward trend, driven by subdued demand, high inventory levels, and limited market activity. Despite robust economic activity in the construction sector, BPA prices faced downward pressure due to escalating production costs and reduced purchasing activities. In conclusion, the quarter ended with Bisphenol A prices at USD 1389/MT CFR Jeddah in Saudi Arabia, reflecting the prevailing negative pricing environment characterized by declining prices and a challenging market landscape.
For the Quarter Ending June 2024
North America
The North American region experienced a mixed pricing environment for bisphenol A (BPA) in Q2 2024. In April, BPA prices in the USA declined slightly by 2.2% due to ample supplies and low demand in downstream epoxy resin and polycarbonate (PC) market.
However, May and June saw a robust recovery, with prices surging by 11.6% and 6.4%, respectively. This positive trend was driven by limited availability of feedstock phenol and acetone, alongside increased crude oil prices due to geopolitical tensions. Plant shutdowns in exporting Asian nations further exacerbated scarcity, pushing prices higher.
Demand for BPA in the USA domestic market improved, fueled by a strong recovery in the housing sector. Additionally, container shortages and delays in empty container returns intensified the problem, disrupting global supply chains and affecting BPA transportation and pricing. By the end of Q2 2024, the price for Bisphenol A in the USA stood at USD 1556/MT CFR Texas, reflecting a positive pricing environment overall compared to Q1 2024, driven by increased demand.
APAC
The APAC region witnessed a mixed pricing environment for bisphenol A (BPA) in Q2 2024. In April 2024, BPA prices declined by 6.8% due to oversupply and low demand in downstream epoxy resin and polycarbonate (PC) market. However, May and June saw a robust recovery, with prices surging by 13.5% and 6.7%, respectively. This positive trend was driven by limited availability of feedstock phenol and acetone, alongside increased crude oil prices due to geopolitical tensions. Plant shutdowns in China and other exporting nations further exacerbated scarcity, pushing prices higher. Demand for BPA in China's domestic market improved, fueled by a strong recovery in the housing sector. Additionally, China’s exports grew at their fastest pace in over a year in May 2024, rising 7.6% year-on-year to $302.35 billion, which helped sustain healthy BPA prices. By the end of Q2 2024, the price for Bisphenol A in China stood at USD 1356/MT FOB Qingdao reflecting a positive pricing environment overall compared to Q1 2024, driven by increased demand.
Europe
The European region experienced a mixed pricing environment for bisphenol A (BPA) in Q2 2024. In April and May, BPA prices in the Netherlands declined significantly by 6.5% and 1.8%, respectively, driven by decreased demand in downstream polycarbonate and epoxy resin industries. This decline was particularly due to the slowdown in construction activity in Europe. The Eurozone construction sector continued to decline at the start of Q2 2024, with new orders falling sharply, leading to further reductions in construction activity, as well as a retrenchment of employment and purchasing. However, June saw a recovery, with prices surging by 2.4%. This positive trend was driven by limited availability of feedstock phenol and acetone, alongside increased crude oil prices due to geopolitical tensions. Plant shutdowns in exporting Asian nations further exacerbated scarcity, pushing prices higher. Additionally, container shortages and delays in empty container returns intensified the problem, disrupting global supply chains and affecting BPA transportation and pricing. By the end of Q2 2024, the price for Bisphenol A in the Netherlands stood at USD 1682/MT FD-Rotterdam, reflecting a negative pricing environment overall compared to Q1 2024.
MEA
The MEA region experienced a mixed pricing environment for bisphenol A (BPA) in Q2 2024. In April, BPA prices in the Saudi Arabia declined by 4% due to oversupply and low demand in downstream epoxy resin and polycarbonate (PC) industries. However, May and June saw a robust recovery, with prices surging by 12.7% and 6.8%, respectively. This positive trend was driven by the limited availability of feedstock phenol and acetone, alongside increased crude oil prices due to geopolitical tensions. Plant shutdowns in exporting Asian nations further exacerbated scarcity, pushing prices higher. Demand for BPA in the Saudi Arabian market improved, fueled by strong demand in the construction industries. Supply chain disruptions, including maintenance shutdowns at major global plants and exacerbated logistical strains due to elevated port congestion, further strained market availability. By the end of Q2 2024, the price for Bisphenol A in Saudi Arabia stood at USD 1445/MT CFR Jeddah, reflecting a positive pricing environment overall compared to Q1 2024, driven by increased demand.
For the Quarter Ending March 2024
North America
The first quarter of 2024 was characterized by decreasing prices for Bisphenol A (BPA) in the North America region. This decline was attributed to several significant factors that influenced the market. Firstly, there was a reflection from Asian exporting nations like China and Japan, along with lower import prices from the same exporting region due to a slowdown from these exporting nations. Further, the surplus put downward pressure on prices. This decrease in demand in the exporting nations' downstream epoxy resins and polycarbonate industries, due to a slowdown in the construction sector, further contributed to the downward trend in prices.
In the USA, the decline in prices was particularly significant. The overall trend in the USA market was negative, with prices steadily decreasing throughout the quarter due to low import prices from the Asian exporting nations. This decline could be attributed to the same factors mentioned earlier, such as decreased demand and surplus inventory. While there was some recovery in February due to supply disruptions caused by Lunar New Year in Asia and incidents in the Red Sea.
Compared to the same quarter last year, prices for BPA in the USA decreased by 26%. Additionally, prices decreased by 22% compared to the previous quarter in 2024. The quarter-ending price for BPA in the USA stood at USD 1406/MT, CFR Texas, reflecting the overall decreasing sentiment in the pricing environment for BPA in the North America region.
APAC
In Q1 2024, the Bisphenol A market in the APAC region witnessed a significant decrease in prices. Several factors contributed to this downward trend, including subdued demand from downstream epoxy resins and polycarbonate industries due to sluggish construction activity, and reduced procurement activities. The market experienced a bearish sentiment, with low buying enthusiasm and elevated inventory levels. Additionally, the petrochemical industry faced challenges such as low demand, diminished profitability, and overcapacity. The decrease in housing starts and the slowdown in the construction sector further impacted the demand for Bisphenol A.
Japan experienced the maximum price changes in the region. The overall trends in the market were influenced by seasonality factors, such as the Lunar New Year holidays and the slowdown in construction activities during the winter season. The price of Bisphenol A in Q1 2024 decreased by 30% compared to the same quarter last year. The price also recorded a decrease of 12% from the previous quarter in 2024. Moreover, there was a 7% decline in prices between the first and second half of the quarter. The quarter-ending price for Bisphenol A in Japan stood at USD 1144/MT FOB Osaka.
In summary, the pricing environment for Bisphenol A in the APAC region during Q1 2024 was pessimistic, with prices experiencing a significant decrease. Factors such as subdued demand, sluggish construction activity, and reduced procurement activities contributed to the downward trend in prices. Japan witnessed the maximum price changes in the region, influenced by seasonality factors and the slowdown in construction activities.
Europe
The pricing of Bisphenol A in the European region during Q1 2024 has experienced a notable increase, with some fluctuations observed in the Netherlands. Despite challenges such as low demand from downstream industries and stable feedstock prices, the market remained bullish due to geopolitical tensions in the Middle East.
In the Netherlands, the Bisphenol A market maintained a stable downward trend in January, supported by consistent cost dynamics in feedstocks like phenol and acetone. However, this stability was overshadowed by challenges in the construction sector, leading to subdued demand from downstream industries and signaling sluggish performance across European countries. The eurozone construction sector recorded a significant drop, indicating a sharp decline in construction activity. Despite moderate material availability in the domestic market, downstream construction industries experienced slow demand, resulting in a surplus across most consumer markets. February witnessed a surge in Bisphenol A prices in the Netherlands, driven by high demand from downstream epoxy and polycarbonate industries, along with delays in material availability. The European market saw heightened activity, especially in the Netherlands, with increased inquiries and steady demand from the construction and automobile sectors. March continued the upward trajectory of Bisphenol A prices in the Netherlands, fueled by consistent demand from downstream industries and elevated import prices from Asian nations. Despite challenges such as maintenance shutdowns of key Bisphenol A units globally and rising feedstock prices, the market remained bullish. The surge in demand from the construction sector and elevated home prices in the Netherlands emphasized the growing need for Bisphenol A, prompting manufacturers to increase production to meet market demands.
In summary, the pricing environment for Bisphenol A in the Europe region during Q1 2024 was positive, with prices experiencing a significant increased. Factors such as moderate demand, sluggish, supply chain disruption and high import price contributed to the upward trend in prices. The quarter-ending price for BPA in the Netherlands stood at USD 1766/MT, FD-Rotterdam.
MEA
The pricing of Bisphenol A in the MEA region witnessed a mixed sentiments throughout the first quarter of 2024, with some fluctuations evident across the region. Ultimately, the quarter concluded with a BPA price of USD 1250/MT CFR Jeddah in Saudi Arabia.
In January, prices experienced a decline attributed to low import prices from exporting Asian nations and an oversupply situation, particularly notable in Saudi Arabia. This oversupply in Saudi Arabia stemmed from weakened demand for BPA in certain exporting nations, such as those reliant on downstream polycarbonate and epoxy resins. February witnessed a price increase, driven by heightened procurement activities ahead of Ramadan. This increase was further supported by consistent cost dynamics in feedstocks like phenol and acetone, along with steady demand from downstream sectors aligned with the construction industry. By March, a stable trend emerged in Saudi Arabia's domestic market, largely influenced by Ramadan. During this period, countries in the region operate on reduced schedules, and the construction sector experienced stability.
Overall, the first quarter of 2024 in the MEA region saw a fluctuating trajectory for BPA prices. Initially decreasing, followed by an increment, and finally settling into a stable trend, primarily driven by moderate demand within the construction sector.
