Polyolefin Plastomer Price Trend and Forecast

Regional Price Overview

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

Polyolefin Plastomer Price Trend for the Q1 of 2024

Asia

In Asian countries, the changing dynamics of the trading sector asserted a significant influence on the prices of polyolefin plastomer during the first quarter of 2024. Indonesia and Brazil, along with India, opted for new trading measures, leading to an alternation in the prices of polyolefin plastomer.

Polyolefin Plastomer Price Chart

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The market was further affected by the loss of exports to Europe amid its consideration of carbon border adjustment measures and redirection of China’s interest in carbon capture technologies. These initiatives slightly boosted the demand for polyolefin plastomer in the first quarter; however, they were not sufficient in keeping the polyolefin plastomer prices northwards.

Additionally, the advent of the Chinese New Year holidays and the maintenance shutdown of several production plants raised the skepticism of overseas players, which was evident in the number of inquiries presented by the sector. Further, the depreciation in export profit margins due to the ongoing geopolitical tensions and shift in maritime routes also presented a dim outlook for the polyolefin plastomer market.

Europe

In European countries, the pricing patterns of polyolefin plastomer followed a mixed trend, particularly under the influence of several drivers of the market. The dominance of Chinese imports in the region lightly trailed off during the first quarter of 2024 due to low production activities amid the New Year holiday season. Initially, the sentiments of downstream automotive industries were also sluggish, raising the concerns of traders and manufacturers. However, with the revival of US markets and their rising appetite for polyolefin plastomer, the prices of polyolefin plastomer moved northwards.

The situation of domestic manufacturing units was also not much favorable, depleting the inventories quickly, intensifying the gap between supply and demand sectors of the market, and giving the polyolefin plastomer traders room to raise their price quotations of polyolefin plastomer. Further, the rise in the prices of feedstock chemicals additionally raised the total cost of production and also the prices of polyolefin plastomer.

North America

In North America, the prices of polyolefin plastomer registered only a marginal rise during the first quarter of 2024. The rising interest of downstream automotive and construction industries in the region favored the uptrend in the prices of polyolefin plastomer. Also, the surge in the cost of feedstock chemicals, as per the announcements by the chemical giants, raised the overall cost of production of polyolefin plastomer. The trading activities of the region, however, declined with the rise in geopolitical disruptions of maritime routes, somehow depreciating the momentum of the polyolefin plastomer market in the first quarter of 2024.

Analyst Insight

According to Procurement Resource, the price trend of Polyolefin Plastomer is expected to improve in the forthcoming quarters as the rising downstream demand and the surging cost of feedstock are expected to support the polyolefin plastomer price trend.

Polyolefin Plastomer Price Trend for the October - December of 2023

Asia

Asian crude oil and naphtha markets were defeated in terms of prices as their supply surpassed their demand by a great margin. However, through the lenses of economic advisors, this could be a sign of ease in inflationary pressure on the markets, but this worked opposite to the required trend of polyolefin plastomer prices.

The domestic demand showed some improvement as compared to the previous quarter but remained largely bearish, restricting the growth rate of the polyolefin plastomer price graph.

Europe

A slowdown in the momentum of the chemical sector of the European countries forced some of the industrial giants to shut their operations. The backlash for the polyolefin plastomer and its feedstock materials came in the form of subdued demand, which in turn was affected by the rigid downfall of European economic indicators. The market further lost its charm as the tensions between Israel and Hamas accelerated and the sanctions on Russian imports intensified.

North America

Throughout the fourth quarter of 2023, polyolefin plastomer prices remained volatile in the US markets. The macro and microeconomic indicators suggested a contraction in the purchasing activities of the automotive consumers, which in turn reduced the rate of procurement of polyolefin plastomer. Along with this, a considerable fall in the cost of raw materials and energy production lowered the entire cost of production and compelled the traders to reduce their quoted prices of polyolefin plastomer.

Analyst Insight

According to Procurement Resource, the price trend of Polyolefin Plastomer are expected to face a downturn as the consumer demand and overall overview of the market do not look in favor of the polyolefin plastomer market.

Polyolefin Plastomer Price Trend for the July – September of 2023

Asia

Polyolefin plastomers are plastics just like polyethylene and polypropylene with more flexibility and elasticity. Since this class of chemicals largely belongs to the petrochemical group, the price trend closely align with the crude oil price trajectories. During the three-month period of Q3’23, the polyolefin plastomer (POP) prices were observed to be inclining throughout.

Since the crude oil prices rallied, the polyolefin plastomer also rose on the price index. The biggest impact on the region came from the narrowing of European oil imports. The edge that the import of Russian oil had given to the Indian and Chinese markets had already diluted. So, the prices were observed to be inching higher during the third quarter of the year 2023. Overall, positive market sentiments were observed in Q3’23.

Europe

The European polyolefin plastomer market was heavily influenced by the Asian trend. This reestablishes the import dependency of the European market and, at the same time, also reflects the growth of crude oil prices in the region. Since the Black Sea deal between Russia, Ukraine, Turkey, and the United Nations came to an end the trade dynamics in the region were disturbed. This created a supply constraint for polyolefin plastomer in the market and led to an inclination in the price trend.

North America

The North American polyolefin plastomer market was more muted than the other major global markets. The economic uncertainties in the country, especially after the collapse of two major banks, affected regional trade immensely. Overall, borderline stagnancy was observed in the American polyolefin plastomer market.

Analyst Insight

According to Procurement Resource, the Polyolefin Plastomer price trend are likely to falter in the coming months; the current supply and demand dynamics suggest a little slowing down of the concerned market.

Polyolefin Plastomer Price Trend for the First Half of 2023

Asia

Polyolefin plastomer prices oscillated in the first two quarters of 2023. In the Asia-Pacific region, the trend was affected by the depletion of demand from the automobile sector, and the pricing war with Tesla hampered the prices of polyolefin plastomer in the first quarter of 2023. The rising level of inventories overshadowed the strong demand for the product in the second quarter and thus caused a downfall in the price trend of polyolefin plastomer.

Europe

A fluctuating price trend of polyolefin plastomer was observed in the first and second quarters of 2023 with a huge surge in the month of March. The spike in the trend was supported by the semiconductor industries that, in turn, gained momentum from the sales of automobiles. This rising trend continued till May, but the prices dipped in June. This striking downfall was attributed to the fall in the number of new registrations in the automobile sector, indicating a slowing of demand and overall industrial activities.

North America

The polyolefin plastomer market oscillated in the first and second quarters of 2023 due to the shifting equilibrium sentiment of supply-demand dynamics. In the first quarter, initially, the price growth was stable, but the economic disturbances caused by the failure of two major banks in this region adversely affected the polyolefin plastomer market. In the second quarter, the prices initially rose exponentially due to support from the recovering economy, but this trend could not be sustained. The polyolefin plastomer prices faced south ultimately due to the falling demand, excess availability of the product in the region, and abrupt fall in the number of new orders.

Analyst Insight

According to Procurement Resource, the price trend of Polyolefin Plastomer is expected to showcase a mixed trend as the global economy is showcasing a fluctuating trajectory that is negatively impacting the demand for polyolefin plastomer.

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