Price trend:

In December 2025, the domestic bisphenol A market reversed its previous prolonged downturn and entered an upward trend. Driven by a combination of factors including shrinking supply, marginal improvement in demand, and stronger cost support, market prices steadily rose from their low point at the beginning of the month. Traders showed strong sentiment in supporting higher prices, and market activity significantly improved. As of December 25th, the SunSirs' benchmark price for bisphenol A was 7,604.00 RMB/ton, an increase of 426 RMB/ton compared to 7,178.00 RMB/ton on December 1st, representing a cumulative increase of 5.93%, clearly indicating a short-term rebound.

Supply side contraction: Plant maintenance and reduced production led to a sharp decrease in market supply

The substantial contraction in supply was the core driving force behind the recent rebound in the bisphenol A market. In December, several major domestic bisphenol A producers entered maintenance or reduced operating rates, leading to a significant decline in the industry's operating rate and a reduction in actual market supply by approximately 15% compared to normal levels. Specifically, Changchun Chemical and Nantong Xingchen both reduced their operating rates to 50-60% from mid-December onwards. Nantong Xingchen's 150,000 tons/year bisphenol A plant mainly serves its downstream epoxy resin production and long-term contract customers, with very little spot market sales. Nanya Plastics (Ningbo)'s Phase I plant entered a shutdown for maintenance, further reducing market supply. Shandong Fuyu Petrochemical's 180,000 tons/year bisphenol A plant had been shut down since September and is expected to remain offline until January 2026, only maintaining price increases without any actual spot supply.

Meanwhile, overall industry inventory levels were low, further exacerbating the tight supply situation. Major companies such as Lihua Chemical and Wanhua Chemical were all experiencing low inventory levels. Lihua Chemical's two 240,000 tons/year plants were operating steadily, but spot sales were limited, primarily supplying long-term contract customers; Wanhua Chemical's two 480,000 tons/year plants were operating normally, with products mainly supplying its downstream 600,000 tons/year PC plant and contract customers, resulting in limited spot market availability. This combination of reduced supply and low inventory provided a solid foundation for rising market prices.

Demand-side improvement: Downstream production was recovering, and essential orders were being released

In early December, the two core downstream industries of bisphenol A, polycarbonate (PC) and epoxy resin, showed a simultaneous upward trend. On the one hand, there was increased demand from end-users at the end of the year, with orders increasing in industries such as electronics and electrical appliances and composite materials, driving demand for upstream raw materials. On the other hand, the entire industry chain had previously destocked to relatively low levels, and PC and epoxy resin manufacturers had generally adopted a low-inventory strategy. As production loads increased, raw material reserves were rapidly depleted, leading to varying degrees of raw material shortages and forcing companies to increase their orders.

Market Forecast:

According to SunSirs, the domestic bisphenol A market is likely to maintain a firm and stable trend in the short term. On the supply side, thelow inventory level in the industry is unlikely to change in the short term, and major manufacturers will continue to undergo maintenance and reduced production, meaning the tight supply situation will not be substantially alleviated. On the demand side, although some downstream restocking demand has been met, year-end rush orders still provide support, and essential purchases will maintain a certain scale. On the cost side, the raw material phenol and acetone markets are expected to operate steadily, and cost support remains. Supported by multiple factors, the market price will remain at a high level of around 7,600 RMB/ton in the short term, and traders' sentiment to maintain high prices will remain unchanged.

In the medium term, the market faces the risk of a correction. On the one hand, after the end of the downstream inventory replenishment cycle, if end-user consumption fails to keep pace, the support for demand will weaken, and downstream companies may become more resistant to high-priced raw materials, leading to inventory reduction pressure in the market. On the other hand, with the restart of maintenance facilities such as Shandong Fuyu Petrochemical in January 2026, market supply will gradually recover, and the supply-demand imbalance is expected to improve. Furthermore, attention should be paid to the macroeconomic environment and the recovery of end-user industries. If end-user demand remains weak, the upward trend in the bisphenol A market will be difficult to sustain, and prices may experience a temporary correction.

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