For the Quarter Ending December 2025
North America
• In the USA, the CPVC Price Index fell by 2.6% quarter-over-quarter, reflecting mixed regional demand.
• The average CPVC price for the quarter was approximately USD 1895.00/MT, based on transaction averages.
• CPVC Spot Price remained regionally supported by tight distributor inventories and disciplined producer run rates.
• CPVC Price Forecast indicates modest near-term firmness as feedstock pressures and balanced offtake persist commercially.
• CPVC Production Cost Trend showed upward pressure from calcium carbide increases; ethylene dichloride stayed flat.
• CPVC Demand Outlook highlighted steady construction and infrastructure demand, offsetting softer residential renovation activity seasonally.
• CPVC Price Index benefited from improved logistics and railcar availability, limiting downside from import competition.
• Export liftings to Mexico, Latin America and stable Gulf Coast operating rates constrained surplus availability.
Why did the price of CPVC change in December 2025 in North America?
• Balanced domestic operating rates prevented inventory builds, allowing modest pass-through of incremental feedstock costs upward.
• Year-end project completions and steady infrastructure demand supported sustained offtake despite seasonal procurement caution persistently.
• Stable logistics and reduced imports limited downside, while calcium carbide increases provided mild upward pressure.
APAC
• In China, the Chlorinated Polyvinyl Chloride Price Index rose by 3.0075% quarter-over-quarter, driven by tightened supply.
• The average Chlorinated Polyvinyl Chloride price for the quarter was approximately USD 913.33/MT, reflecting mixed supply-demand.
• Tight inventories and port delays supported the Chlorinated Polyvinyl Chloride Spot Price, sustaining vendor discipline on offers.
• Forward schedules imply a modest Chlorinated Polyvinyl Chloride Price Forecast increase as feedstock costs slowly firm into spring.
• Feedstock easing trimmed conversion costs, altering the Chlorinated Polyvinyl Chloride Production Cost Trend and enabling offer flexibility.
• Domestic municipal projects and industrial restarts underpin the Chlorinated Polyvinyl Chloride Demand Outlook despite seasonal construction slowdowns.
• Export demand softness pressured the Chlorinated Polyvinyl Chloride Price Index, allowing sellers to concede small discounts to secure liftings.
• Operational moderation at eastern chlorination units restrained output growth, balancing inventories and supporting a stable Price Index trajectory.
Why did the price of Chlorinated Polyvinyl Chloride change in December 2025 in APAC?
• Feedstock cost reductions, notably calcium carbide and EDC, eased conversion economics and pressured export pricing.
• Reduced domestic operating windows and environmental inspections limited overnight output, constraining supply despite steady vessel availability.
• Seasonally muted offshore enquiries and year-end distributor inventory reductions softened demand, allowing sellers to offer modest discounts.
Europe
• In Germany, the Chlorinated Polyvinyl Chloride Price Index fell by 2.04% quarter-over-quarter, reflecting ample supply.
• The average Chlorinated Polyvinyl Chloride price for the quarter was approximately USD 1437.67/MT on record.
• Imports and vendor discounts kept the Chlorinated Polyvinyl Chloride Spot Price weak despite feedstock pressure.
• Downstream construction slowdown constrained the Chlorinated Polyvinyl Chloride Demand Outlook, suppressing restocking and speculative buying.
• Lower EDC, stable chlorine costs moderated the Chlorinated Polyvinyl Chloride Production Cost Trend, supporting margins.
• Consensus commentary points to cautious Chlorinated Polyvinyl Chloride Price Forecast, with limited upside until spring.
• Elevated inventories compressed margins and the Chlorinated Polyvinyl Chloride Price Index, intensifying seller competition further.
• Shortened lead times and competitive imports kept downward pressure, leaving muted CPVC Spot Price momentum.
Why did the price of Chlorinated Polyvinyl Chloride change in December 2025 in Europe?
• Lower-priced import arrivals increased local availability, offsetting upstream cost rises and pressuring domestic CPVC margins.
• Seasonally soft converter procurement reduced demand while ample inventories limited leverage and prevented price increases.
• Stable domestic operating rates and smooth logistics maintained supply continuity, reducing volatility despite feedstock pressures.
South America
• In Brazil, the Chlorinated Polyvinyl Chloride Price Index fell 3.209% quarter-over-quarter, amid ample domestic supply.
• The average Chlorinated Polyvinyl Chloride price for the quarter was approximately USD 1920.33/MT across distributors.
• Chlorinated Polyvinyl Chloride Spot Price firmed in December as import premiums offset lower ocean freight.
• Chlorinated Polyvinyl Chloride Price Forecast anticipates near-term rangebound movement given balanced inventories and steady procurement.
• Chlorinated Polyvinyl Chloride Production Cost Trend remained muted as ethylene dichloride feedstock prices stayed unchanged.
• Chlorinated Polyvinyl Chloride Demand Outlook is positive as construction and municipal housing projects underpin procurement.
• Inventory coverage and CFR arrivals limited volatility, keeping the Chlorinated Polyvinyl Chloride Price Index stable.
• Domestic plants maintained operating rates while import availability and resin premiums determined landed cost dynamics.
Why did the price of Chlorinated Polyvinyl Chloride change in December 2025 in South America?
• Ample import arrivals and sufficient distributor inventories eased immediate upward pressure on landed resin costs.
• Freight reductions lowered logistics costs, but stronger overseas resin offers sustained higher landed costs overall.
• Steady construction demand and housing procurement maintained buying interest, supporting CPVC price resilience into month-end.
For the Quarter Ending September 2025
North America
• In the USA, the Chlorinated Polyvinyl Chloride Price Index fell by 4.82% quarter-over-quarter, amid oversupplies
• The average Chlorinated Polyvinyl Chloride price for the quarter was approximately USD 1849.00/MT on average
• Chlorinated Polyvinyl Chloride Spot Price weakened while the Price Index reflected inventory overhang and discounting
• Chlorinated Polyvinyl Chloride Price Forecast indicates modest stability, with potential upward pressure from logistical disruptions
• Chlorinated Polyvinyl Chloride Production Cost Trend eased as lower EDC feedstock costs softened producer margins
• Chlorinated Polyvinyl Chloride Demand Outlook remains subdued given weak construction activity and cautious industrial procurement
• Price Index movements reflected tepid export demand and high domestic inventories, extending lead times recently
• Chlorinated Polyvinyl Chloride Price Index reflected mixed strategies; some firms held prices actively protecting margins
Why did the price of Chlorinated Polyvinyl Chloride change in September 2025 in North America?
• Persistent oversupply from elevated production and subdued construction demand exerted downward pressure on CPVC prices
• Feedstock EDC fluctuations and recent declines reduced production cost pressures, partially limiting further price reductions
• Hurricane season logistics, precautionary stocking and tariff uncertainty increased friction and constrained demand normalization
APAC
• In China, the Chlorinated Polyvinyl Chloride Price Index fell by 3.97% quarter-over-quarter, amid weak demand.
• The average Chlorinated Polyvinyl Chloride price for the quarter was approximately USD 886.67/MT, reported domestically.
• Chlorinated Polyvinyl Chloride Spot Price softened, reflecting the domestic Price Index reacting to abundant inventories.
• Chlorinated Polyvinyl Chloride Price Forecast indicates gradual stabilization if inventory drawdown and export demand materialize.
• Chlorinated Polyvinyl Chloride Production Cost Trend eased as EDC and ethylene costs declined, reducing pressure.
• Chlorinated Polyvinyl Chloride Demand Outlook remains subdued with construction contraction and limited Southeast Asian buying.
• Port congestion and logistical delays aggravated terminal stocks, pressuring the Chlorinated Polyvinyl Chloride Price Index.
• High operating rates and limited maintenance increased output, exacerbating oversupply and keeping Price Index subdued.
Why did the price of Chlorinated Polyvinyl Chloride change in September 2025 in APAC?
• Inventory liquidations increased domestic availability, heightening oversupply and directly pressuring export and domestic price levels.
• Declining EDC and ethylene costs reduced production expenses, enabling sellers to offer competitive export quotations.
• Weak construction demand and monsoon disruptions curtailed procurement, limiting offtake and sustaining bearish market sentiment.
Europe
• In Germany, the Chlorinated Polyvinyl Chloride Price Index fell by 3.65% quarter-over-quarter, driven by subdued demand.
• The average Chlorinated Polyvinyl Chloride price for the quarter was approximately USD 1467.67/MT for Germany.
• Chlorinated Polyvinyl Chloride Spot Price remained under pressure amid muted orders and ongoing inventory liquidation by suppliers.
• Chlorinated Polyvinyl Chloride Price Forecast indicates modest stability into Q4 as producers cautiously manage operating rates.
• Chlorinated Polyvinyl Chloride Production Cost Trend eased following lower EDC costs, reducing cost-push pressure on regional pricing.
• Chlorinated Polyvinyl Chloride Demand Outlook remains weak due to construction recession and cautious downstream procurement activity.
• Price Index volatility moderated as producers curtailed runs, but port congestion and inventory accumulation pressured offers further.
• Export demand remained limited, restraining upside for the Price Index despite selective seller rollovers and regional logistical disruptions.
Why did the price of Chlorinated Polyvinyl Chloride change in September 2025 in Europe?
• Weak construction activity reduced offtake, decreasing demand relative to supply and depressing the Chlorinated Polyvinyl Chloride Price Index.
• Decline in EDC feedstock prices lowered production costs, reducing producer pricing power and softening Chlorinated Polyvinyl Chloride Spot Price.
• Port congestion around Hamburg and seasonal summer slowdown constrained exports, causing inventory accumulation and additional selling pressure.
South America
• In Brazil, the Chlorinated Polyvinyl Chloride Price Index fell by 4.87% quarter-over-quarter, reflecting freight pressure.
• The average Chlorinated Polyvinyl Chloride price for the quarter was approximately USD 1984.00/MT, CFR Santos.
• Chlorinated Polyvinyl Chloride Spot Price remained pressured by ample inventories and subdued domestic construction buying.
• Chlorinated Polyvinyl Chloride Price Forecast anticipates upside restraints as freight and feedstock affect Price Index.
• Chlorinated Polyvinyl Chloride Production Cost Trend moderated as EDC prices declined, offsetting higher freight impacts.
• Chlorinated Polyvinyl Chloride Demand Outlook remains weak with constrained construction activity and cautious industrial procurement.
• High inventories and selective Asian imports tempered the Chlorinated Polyvinyl Chloride Price Index and margins.
• Domestic producers maintained steady runs while some importers shifted sourcing, moderating short-term market tightness effectively.
Why did the price of Chlorinated Polyvinyl Chloride change in September 2025 in South America?
• Elevated freight temporarily reduced Asian cargo availability, tightening supply and adding short upward pressure regionally.
• Declining EDC feedstock costs eased production costs, counterbalancing logistics-driven price increases across regional markets in Brazil.
• Ample domestic inventories and weak construction demand limited sellers' ability to pass higher logistics costs onto buyers.
For the Quarter Ending June 2025
North America
• The Chlorinated PVC (CPVC) spot price in North America declined by 5.96% quarter-over-quarter in Q2 2025, reflected in a softer Price Index.
• Low demand conditions from the primary construction sector continued to remain the prime factor for the downward pull on the prices.
• Suppliers were reported to have been moving backlogged inventories at lower prices leading to a softer price Index
• Structural demand remained weak with procurements activities being largely as per need basis post global tariff fallout
• Export demand to the primary importing Mexican and Canadian markets remained largely low during the reviewed quarter.
• Production costs eased as evidenced by a fall of 43.2% in the prices of feedstock EDC (Ethylene Dichloride) quarter-over-quarter in Q2 2025
Why did the price of Chlorinated PVC change in July 2025 in the US?
• In July 2025, the Price Index of Polyurethane Resin was reported to increased have as logistical disruptions due to the official start of the North Atlantic Hurricane season led to higher transportation cost.
• While structural demand from the primary construction was reported to have been sluggish, many suppliers were reported to have been acquiring stocks in order to avoid further potential disruptions
• Producers were reported to have kept run rates curtailed to lengthen the market situation which led to slight shortfall in supply during early July
• Suppliers reported lower inventory stocks in warehouses and were mostly offering higher prices on a non-negotiable basis.
Europe
• The Chlorinated PVC spot price in Europe declined by 5.94% quarter-over-quarter in Q2 2025, reflected in a softer Price Index.
• Low demand conditions from the primary construction sector continued to remain the prime factor for the downward pull on the prices
• Production costs eased as evidenced by a fall of 23% in the prices of feedstock EDC quarter- over-quarter in Q2 2025
• Competitively priced inventories originating from the Asian market continued to undercut domestic prices thus leading to overall price decline
• Suppliers were reported to have been offering backlogged inventories at lower prices despite curtailed production amidst lower run rates being reported
• Export demand and conditions remained sluggish amidst the Euro appreciation, congestions witnessed across the Northwest European ports which continued to impart a bearish pressure on the prices
Why did the price of CPVC change in July 2025 across Europe?
• In July 2025, the Price Index of CPVC was reported to have been stable due to subdued activity in the construction sector leading to cautious sentiment.
• European producers were reported to have kept existing quotations unchanged during July 2025 in effort to remain competitive against the Asian origin inventories
• Producers were reported to production rates curtailed amidst the seasonal summer holidays witnessed during mid-July 2025
• Weaker offtakes reported from the primary downstream furniture and bedding sector
APAC
• Chlorinated PVC spot prices in the APAC region declined by 10% quarter-over-quarter in Q2 2025, as reflected in a softer Price Index.
• Production costs eased, supported by a 21% drop in feedstock MDI prices over the same period.
• Subdued demand from the construction sector—the primary downstream consumer—remained the key factor exerting downward pressure on prices.
• In an effort to remain competitive, several producers and suppliers were reported to have reduced prices and offloaded inventories via exports, despite maintaining curtailed production rates.
• Delayed Outbound inventories amidst port congestion across major Asian ports kept bearish pressure on the export prices
• Following the global tariff fallout, multiple producers were noted to have redirected cargoes from North America to the Southeast Asian markets, leading to ample regional supply conditions.
• Weaker offtakes from overseas buyers remained the dominant driver behind lower export prices.
Why did the price of CPVC change in July 2025 across APAC?
• In July 2025, the Price Index of CPVC was reported to have declined due to low seasonal demand from the construction sector during the monsoon season
• Suppliers were reported to have been holding inventories across the warehouses
• Weaker offtakes reported to have been noted from the primary buyers based across the Southeast Asian market
• Asian producers were reported to have been actively lowering their quotations in July 2025 in order to stimulate buying activity across the region.
South America
• Chlorinated PVC spot prices in the South American region declined by 6% quarter-over-quarter in Q2 2025, as reflected in a softer Price Index.
• Lower priced imports from Asia and North America continued to remain the dominant factor in the softening of the price Index.
• Subdued demand from the construction sector—the primary downstream consumer—remained the key factor exerting downward pressure on prices.
• While freight charges to South America rose midway though the quarter, sellers were unable to pass on higher prices as market acceptance of the increments in the prices was low
• The appreciation of Brazilian Real against the USD during the quarter further resulted in lower priced imports entering the market.
• Depreciation in the prices of feedstock EDC which fell by approximately 33% during this quarter which eased production costs
Why did the price of CPVC change in July 2025 across South America?
• In July 2025, the Price Index of CPVC was reported to have increased as higher freight charges from Asia to South America resulted in Asian origin cargoes losing competitiveness against the primary US originated inventories
• A few customers were reported to have been actively building inventories amidst the potential supply disruptions amidst the North Atlantic Hurricane season
• Primary US exporters were reported to have kept run rates curtailed which had created low influx of supplies to South Korea.
For the Quarter Ending March 2025
North America
During Q1 2025, the North American Chlorinated PVC (CPVC) market saw an 18% price decline, driven by low production rates, reduced input costs, and moderate demand from the construction sector. In January, limited production and mild inventory depletion led to variable pricing. Winter storm disruptions and rising transportation costs pushed prices slightly higher early in the month, although stable demand from residential and chemical construction offered some support.
By February, CPVC prices came under pressure as feedstock Ethylene Dichloride (EDC) prices dropped 28%, significantly reducing production costs. Despite lower EDC output, ample inventories and sluggish export demand—especially to Canada and Mexico—kept market sentiment bearish. Construction and chemical sector demand declined, with builder sentiment hitting a five-month low due to high borrowing costs.
In March, CPVC production in North America remained subdued, but ample supply from backlogged inventories and stable EDC prices continued to apply downward pressure on prices. Suppliers lowered prices to boost exports, while seasonal construction and automotive activity provided modest demand support. However, new U.S. tariffs and cautious procurement dampened trading activity, shaping a bearish Q1 2025 market.
Europe
The European Chlorinated PVC (CPVC) market experienced predominantly bearish conditions during Q1 2025 due to ample supply, weak demand, and unfavourable export conditions. In January, prices rose marginally by USD 3/MT as suppliers resisted trading at historically low levels, despite low operating rates and abundant inventories. Demand remained weak, particularly in the Dutch construction sector, which continued to struggle with declining orders and employment. In February, prices declined further due to a 44.4% drop in feedstock EDC costs and persistent inventory overhang. Production remained subdued, while high berth occupancy at major ports like Amsterdam caused logistical delays. Arbitrage closures and Red Sea security issues exacerbated the supply glut. Demand continued to fall, with the Dutch construction sector experiencing broad-based declines across housing, commercial, and civil engineering activities, driven by high interest rates and weak customer sentiment. In March, EDC prices rebounded by 2%, prompting suppliers to attempt price hikes, though most buyers resisted. Despite reduced production, backlogged inventories kept supply ample. Construction activity remained sluggish, with marginal easing in the rate of decline but continued procurement cutbacks, keeping overall market sentiment bearish.
APAC
The APAC Chlorinated PVC (CPVC) market declined by approximately 3.8% in Q1 2025, driven by sluggish export demand and bearish pricing trends, particularly across China. In January, ample inventories from December and subdued export activity—due to the Lunar New Year and Ramadan—kept market sentiment weak. Despite curbed production ahead of holidays and a 5% drop in EDC prices, demand remained soft amid a construction sector slowdown, as reflected by falling housing prices and a 17% YoY drop in property sales. In February, production resumed, boosting supply amidst weak export demand and a 2% decline in EDC prices. Some signs of domestic market stabilization emerged, with China’s Construction PMI improving to 52.7. However, exports to India remained limited due to anti-dumping duties, and Southeast Asian demand was low. March saw continued abundant supply, stable logistics, and softer prices fueled by a 3.8% drop in EDC costs. While domestic construction activity modestly improved (PMI at 53.4), home prices declined, and exports remained muted. Buyers continued cautious, need-based procurement, reflecting an uncertain recovery path despite policy support.
South America
The South American Chlorinated PVC (CPVC) market witnessed a 3.5% depreciation during Q1 2025, driven by ample supply and mixed demand. In January, limited U.S. production and logistical disruptions, including Winter Storm Enzo and rising transport costs, led to variable pricing in Brazil. Despite slightly higher prices, Chinese-origin CPVC gained traction due to a 34% drop-in Trans-Pacific freight rates. Demand was moderate, with subdued construction activity and overall industry indices signaling contraction. In February, U.S. production fell further by 6.2%, while a 24% drop in EDC prices offered cost relief. Chinese cargoes resumed, and Asian freight rates declined 22%, pressuring prices further. Demand remained mixed—residential launches and business confidence grew, but rising construction costs and labor shortages kept buyers cautious. March saw continued declines in U.S. resin output and steady EDC prices, prompting U.S. suppliers to offer lower-priced cargoes to Brazil. Chinese CPVC imports intensified, bolstered by a 23% freight rate drop. Despite favorable supply conditions, demand stayed moderate. Infrastructure investments under Brazil’s PAC program buoyed market sentiment, but high interest rates, inflation, and labor shortages continued to constrain broader CPVC consumption.
