Polycarbonate (PC) prices continued to sink into mid-November 2025 in Asia because of weak market sentiment, reverses in upstream prices, and oversupply in large economies. Tariffs and the widening trade deficit dented market sentiment in India, while decreasing exports and industrial production further suppressed polycarbonates consumption in Japan. Additionally, large market inventories in China were further dampened by reverses in Bisphenol A prices, even though plant maintenance expenses declined. A lack of buying interest permeated the entire region, with buyers making purchases only for requirements. Exporters also offered attractive packages because of weak market sentiment in other parts of the world. Market analysts predicted that PC markets were unlikely to recover anytime soon.
PC prices in Asia extended downward trend into mid-November 2025, as regional demand continued to weaken while upstream costs softened and macroeconomic pressures mounted. The spot prices of PC have continued to slide from their early-month levels, reflecting cautious buying appetite and a persistent supply and demand imbalance in major Asian economies.
In India, one of the key importers of petrochemicals in Asia, the trade dynamics exerted considerable downward pressure on the price movement of the product. The country's trade deficit widened sharply as exports fell, with the US imposing a 50% tariff on goods imported from India having a significant impact. Weaker shipments of chemical and engineering goods further dampened buying confidence in the PC market within the country. While the move by the government to withdraw the requirement for BIS certification for 14 petrochemical products-which include polymers-may over time improve import flows, sentiment remained subdued in the immediate term in the PC market, with local converters adopting a wait-and-watch approach.
Japan, one of the main producers of PC, did not escape setbacks either, its economy shrank annualized in Q3 2025, as weaker exports and industrial output contraction limited downstream demand for engineering plastics like PC. Although Tokyo reached a new trade deal with Washington that reduces US tariffs on Japanese goods, an immediate recovery in shipments remained slow. Japanese petrochemical makers continued to operate under pressure because of Asia oversupply and weak domestic demand, encouraging competitive export offers that further softened regional PC prices.
During the same period, PC market data in China rose but later retreated to return to its previous level at the beginning of October. Domestic prices fell, driven by weaker costs of bisphenol A, high inventories, and limited improvement in downstream consumption. Several major PC plants conducted maintenance late in October. However, such supply reduction was not enough to offset the sluggish demand from such sectors as electronics, appliances, and auto.
Most buyers in the region continued to buy only what was urgently needed, mostly exercising caution. Export orders for PC-based products from Asia remained choppy amid still-weak global demand and lingering tariff-related uncertainties. Suppliers had to pare offers to stimulate buying because converters favoured inventory control over fresh procurement.
As per ChemAnalyst, the players in the market estimate that the PC market will continue to experience downturn in the short term, with only limited possibilities of a strong bounce until demand improves or supply tightens significantly. Overall, with global trade being challenged, support from raw materials weak, downstream demand soft, and oversupply persistent, the Asian prices for PC witnessed a sharp fall by mid-November.
