Prices of Thermoplastic Elastomer (TPE) have witnessed an overall increment of approximately x.xx throughout the first half of February xxxx across the US market.
The prime reasons for this increment in the prices of TPE are largely attributed to increments in the prices of feedstock Styrene and Ethylene which overall witnessed a rise of approximately xx and xx respectively, consequently increasing the production costs. Furthermore, challenges persisted in the transportation system owing to challenging weather conditions which led to limitations in transportation and logistics, thereby pushing transportation costs higher.
In terms of demand, demand for TPE from the downstream automotive sector continued to witness a dullness in the US and importing Canadian and Mexican markets where automotive sales depreciated by approximately xxx, xx, and xxx respectively in January xxxx. Extending into February xxxx, demand for TPE from the electric vehicle segment also appears to...
