Global EVOH Copolymer Cost Edges Higher Due to Demand Escalation
- 03-Nov-2022 4:54 PM
- Journalist: Jacob Kutchner
The ChemAnalayst database has demonstrated that the price trend of EVOH Copolymer has witnessed an uptrend in the regional markets. The US Dollar has strengthened due to rate differentials and continued to impact the prices of EVOH Copolymer. However, the downstream market players from the packaging industries have booked some profits foreseeing volatility in energy materials prices and active inquiries from the terminal consumers.
In India, the EVOH Copolymer prices have undergone an increment of approximately USD 106 per tonne in October 2022 on an m-o-m basis. The demand escalation due to the festive season in India has contributed to the price rise of EVOH Copolymer. In addition, the expansion in e-commerce activities has led to positive development in the packaging industries and fueled the market sentiments among manufacturers. The Asia-pacific region contributes around 35% of the World's GDP, and the increase in market demand has resonated with the rising market value of EVOH Copolymer.
Furthermore, In the US, the crude oil inventories have dropped even with the increment of interest rates by 75 basis points by the US federal reserve. The market players speculate that darkened global economic outlook could pressure the oil's future market and continue to impact the operating costs of EVOH Copolymer in the domestic market. On the other hand, the EVOH Copoplymer prices have escalated by nearly USD 70 per tonne in the Netherlands because of high energy costs and the economic uncertainties unleashed by the rising inflation in the European region.
As per ChemAnalyst's estimation, the upsurge in e-commerce interests and variable costs of energy materials will drive the market growth of EVOH Copolymer across the regional market. Furthermore, The European Union's embargo on Russian oil for its invasion of Ukraine is set to start on December 5 and will be followed by a halt on oil product imports in February, keeping the oil supply tight in the near term and is subjected to propel the price dynamics of EVOH Copolymer.