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SRI Consulting reported that the newly commissioned project this year was China's Taiwan Changchun Petrochemical's 135,000-ton/year facility in Kaohsiung. South Korea's LG Chemical also built Yeosu's 120,000-ton/year bisphenol A plant earlier this year. It is reported that Bayer is planning to build a 200,000-ton/year installation in Shanghai. Japan’s Mitsui Chemicals and Sinopec have reached an agreement to set up a 120,000-ton/year plant in Shanghai with a 50/50 joint venture and plans to start production next year.
In addition, Russia will also have a 70,000-ton/year bisphenol A plant completed in 2007. The Saudi Arabia Project Management and Development Company plans to put in a 240,000-ton/year bisphenol A plant at Jubail Chemical City in 2008.
Bisphenol A is mainly used in the production of polycarbonate and epoxy resin, of which 65% is used to produce polycarbonate, 30% is used to produce epoxy resin, and other applications include the production of flame retardants, unsaturated polyester resins and Polyacrylates, polyetherimides and polysulfone resins account for 5%. According to the survey report of SRI Consulting, as of 2005, the global production capacity of bisphenol A was 5.19 million tons/year.
It is predicted that Asian markets (excluding Japan) will lead the global bisphenol A market at an average annual growth rate of 10% to 11%; the US bisphenol A market is expected to grow at an average annual rate of 3.5% to 4%; Europe The market will grow at a faster rate and will reach an average of 6% to 7% annually.
Last year, due to strong demand for polycarbonate and epoxy resins, the United States drove the operating rate of bisphenol A devices to exceed 95%. However, due to a 5% drop in epoxy resin production during the first eight months of the United States this year, the demand for epoxy resin for bisphenol A consumption will decline, and demand for polycarbonate for bisphenol A will continue to grow strongly.
According to the latest research report of SRI Consulting, the global bisphenol A market demand will grow at an average annual rate of 6% to 7% in the next five years. New capacity is mainly concentrated in Asia (outside Japan), and a total of 500,000 tons of new bisphenol A new plant will be put into operation in Asia in the next years to meet the rapidly growing demand for polycarbonate resin.