Polyester (POY) Price Trend and Forecast

Polyester (POY) Regional Price Overview

Get the latest insights on price movement and trend analysis of Polyester (POY) in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Polyester (POY) Price Trend for the Second Half of 2023

Polyester (POY) witnessed diverse industrial drivers in 2023, significantly influencing its pricing patterns in the latter half of the year. Factors such as evolving fashion trends, technological advancements in textile machinery, and the growing demand for sustainable and recycled polyester played pivotal roles.
 

Polyester (POY) Price Chart

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Additionally, fluctuations in crude oil prices, which impact the cost of raw materials, and changes in global economic conditions also influenced the Polyester POY market. Moreover, innovations in production processes and increasing emphasis on product quality and performance contributed to shaping the market dynamics by a great margin.

During the latter half of 2023, Polyester (POY) prices were observed to fluctuate within narrow boundaries. The market showcased strong sentiments in July, based closely on increasing demands, leading to a robust market performance. However, as the final quarter of the year approached, supply constraints began to impact demand in the Polyester (POY) markets.

These limitations in supply were mainly attributed to disruptions in shipping routes, particularly in the Red Sea amid the increasing tensions between Israel and Hamas. Consequently, the decline in global demand resulted in a subsequent decrease in Polyester (POY) prices in the later months of the year 2023.

Analyst Insight

According to Procurement Resource, the price of Polyester POY is expected to trace a downward trajectory as the demand from the downstream industries does not seem to be in favor of the polyester (POY) market.
 

Polyester (POY) Price Trend for the First Half of 2023

The perpetuity in the feedstock Polyester chip market kept the Polyester (POY) ‘Partially oriented yarn’ market going as well because the demands from the consuming sectors were very steady. The spot prices averaged at around 1106 USD/MT in the first quarter while averaged at around 1094 USD/MT (Spot FD) in the second quarter.

Some upward wavering was observed at the time of quarter shifting; otherwise, the market momentum was fairly stable and consistent. Few temporary fluctuations were owed to the variation in demands from downstream Polyester (DTY) industries. High inflation and low customer interest in the end consumer markets also manipulated the market trend.

Analyst Insight

According to Procurement Resource, the steadiness in the Polyester (POY) market is likely to maintain itself in the coming months as well since not any big changes are anticipated in the end consumer behaviors.

Procurement Resource provides latest prices of Polyester (POY). Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.