For the Quarter Ending March 2025
North America
The first quarter of 2025 for the Ethyl Vinyl Alcohol Copolymer (EVOH) market in North America is characterized by increasing prices. Despite a decline in the downstream packaging demand, EVOH prices in the USA increased in January 2025 due to several shutdowns and production disruptions. Mitsubishi Chemical America in La Porte, Texas exerted a force majeure due to cold weather conditions which affected the supply dynamics. Moreover, a significant increase in the feedstock EVA has surged the manufacturing costs during this timeframe.
While the demand for EVOH from the downstream packaging sector was low due to off-seasonality, export reductions and supplier delays, driven by tariff concerns, hindered trade which led manufacturers to stabilize the EVOH prices in February 2025.
Moreover, Hurricane-force winds in Texas during early March 2025 triggered a force majeure at several major VAM production facilities, including Celanese Corporation (Units 1 & 2) and Millenium Petrochemicals further contributed to an increase in EVOH prices during March 2025. As per ChemAnalyst data, the EVOH prices in the USA have risen by 11.4% quarterly.
APAC
The first quarter of 2025 for the Ethyl Vinyl Alcohol Copolymer (EVOH) market in the APAC region witnessed a significant price surge due to the tight flow of goods. EVOH supply from Japan to Indonesia remained tight during January 2025 due to production disruptions. Moreover, a significant increase in the feedstock EVA prices has surged the manufacturing costs. At the same time, suppliers' delivery times lengthened due to a small tsunami followed by an earthquake seismic event over the eastern coast of Miyazaki, Japan which affected intra-Asian logistics. While the demand from the downstream packaging sector was low, a slowdown in export volume from Japan amid low production rates led to stable EVOH prices in Indonesia during February 2025. Furthermore, the EVOH prices in Indonesia again rebounded in March 2025 despite a decrease in freight charges. An announcement by Kuraray, a major EVOH manufacturer in Japan, to increase its prices influenced the EVOH trend in importing nations as well to settle at USD 8640/MT, EVOH, CFR Tanjung.
Europe
The first quarter of 2025 for the Ethyl Vinyl Alcohol Copolymer (EVOH) market in Europe witnessed a significant increase. Despite a low demand from the downstream packaging sector, the price trend has showcased a remarkable upward trajectory in January 2025. This upward trend was not attributed to the demand, but the rising feedstock EVA (ethylene vinyl acetate) prices. While the EVOH prices were stable in Belgium during February 2025, the overall market supply was tight due to reduced availability of the feedstock EVA. TotalEnergies declared force majeure on its EVA supply from its Gonfreville site on February 11th, citing unforeseen plant breakdowns. This outage severely limited the availability of EVA grades, making it difficult for the company to meet contractual obligations within Europe. Moreover, Celanese, a major producer, announced a price increase for vinyl acetate monomer (VAM) and its derivative in March 2025 within the Western Hemisphere which surged the production costs of EVOH along with the improvement in demand during this timeframe. As per ChemAnalyst data, the EVOH prices in Belgium have risen by 11.9% quarterly.
For the Quarter Ending December 2024
North America
The fourth quarter of 2024 for Ethyl Vinyl Alcohol Copolymer (EVOH) in North America characterized by decreasing prices. EVOH prices in the USA remained stable in October 2024. Sufficient spot supply and subdued off-season packaging demand limited upward price pressure. Declining freight charges due to the end of peak shipping season further eased price pressure and lower feedstock (EVA) prices reduced manufacturing costs.
However, these downward pressures were offset by an increased supplier delivery delay. Rebounding demand from the automotive sector fueled positive consumer sentiment amidst the Presidential Election uncertainty which led manufacturers to keep the price trend stable during October 2024.
While ample domestic supply and weak downstream packaging demand kept the market fundamental at a lower end during November 2024. Moreover, the decline in feedstock ethylene vinyl acetate (EVA) prices further eased the manufacturing costs. Several market players believe ample domestic supply has prevented significant price increases. Spot activity remains limited with consumers focusing on contractual commitments which led to oversupply in the market.
APAC
The fourth quarter of 2024 for Ethyl Vinyl Alcohol Copolymer (EVOH) in APAC region witnessed a complex interplay of factors influencing prices. October saw relative stability amid sufficient spot supply and the off-season packaging and automotive demand are limiting upward price momentum. Moreover, a decline in the freight charges due to the end of peak shipping season has reduced the demand for shipping containers. Despite the downward pressure, the prices have remained unchanged during October due to a rise in the feedstock ethylene vinyl acetate (EVA) prices which surged the manufacturing costs. Several units including Mitsubishi Chemical Corporation in Japan have kept the EVOH plant under maintenance which somewhat balanced the downward supply pressure. However, November brought renewed downward pressure. Ample domestic supply and weak downstream packaging demand created a surplus in the market. Declining feedstock (EVA) prices further reduced manufacturing costs. Market players attributed the lack of significant price increases to the ample domestic supply. Spot activity remained subdued as consumers prioritized contractual commitments, further contributing to the oversupply situation in EVOH market.
Europe
The fourth quarter of 2024 for Ethyl Vinyl Alcohol Copolymer (EVOH) in Europe witnessed a mixed trend influencing prices. October saw relative stability, despite downward pressures from ample spot supply, reduced off-season packaging demand, and declining freight costs. These were offset by increased supplier delivery delays, a rebounding automotive sector, and positive consumer sentiment, prompting manufacturers to maintain stable prices. However, November brought renewed downward pressure. Ample domestic supply and weak downstream packaging demand created a surplus in the market. Declining feedstock (EVA) prices further reduced manufacturing costs. Market players attributed the lack of significant price increases to the ample domestic supply. Spot activity remained subdued as consumers prioritized contractual commitments, further contributing to the oversupply situation during November 2024. However, unexpectedly, EVOH prices in December 2024 remained unchanged due to rise in freight charges and port congestion due to extreme weather conditions which offset the declining trend. Henceforth, the EVOH prices in Belgium remained stable during December 2024 to settle at USD 7450/MT, FOB Antwerp followed by a decline in prices.
For the Quarter Ending September 2024
North America
The third quarter of 2024 for Ethyl Vinyl Alcohol Copolymer (EVOH) in North America witnessed a challenging market environment characterized by decreasing prices. Several significant factors influenced market prices during this period. Supply pressure due to lower demand from downstream industries, particularly the packaging sector, led to a global oversupply of EVOH. Weak consumer spending sentiment, high borrowing rates, and decreased production costs further contributed to the declining prices.
Despite previous market expectations of a demand pickup in September, driven by buyers preparing for the winter holidays, demand has remained consistently slow. This has put sustained pressure on the EVOH market, with overall market transactions remaining low which led producers to lower their offer levels, further contributing to the price slump during September 2024.
In the USA, the market experienced the most significant price changes, with a notable -4% decrease from the previous quarter. The quarter ended with EVOH priced at USD 8100/MT FOB Texas in the USA, reflecting the prevailing negative sentiment in the pricing environment.
APAC
The third quarter of 2024 has been challenging for the Ethyl Vinyl Alcohol Copolymer (EVOH) market in the APAC region, with prices experiencing a significant decrease. Various factors have contributed to this trend, including oversupply in the market and reduced demand from downstream industries. These challenges have led to a bearish market sentiment, impacting pricing dynamics. In Japan, the market has seen the most significant price changes, reflecting the overall downward trend in the region. Japan's EVOH prices have been influenced by similar factors, with lower production costs due to low priced feedstock ethylene vinyl acetate and weak demand contributing to the price decline. The correlation between these factors and the price changes has been evident throughout the quarter, showcasing a consistent negative trend. Additionally, the price change from the previous quarter in 2024 recorded at -5% highlights the ongoing downward trajectory. The quarter-ending price of USD 7950/MT of Ethyl Vinyl Alcohol Copolymer FOB Osaka in Japan reflects the overall decreasing pricing environment.
Europe
In Q3 2024, the Ethyl Vinyl Alcohol Copolymer (EVOH) market in Europe experienced a significant downtrend due to reduced purchasing power amid high energy costs and economic slump. Despite certain logistical challenges, the price of ethyl vinyl alcohol copolymer (EVOH) in France showed a declining trend in July 2024. Overproduction of EVOH occurred globally during this period due to lower production costs from an excess of ethylene vinyl acetate (EVA) and weak demand from the downstream packaging sector led to price slump. The summer holiday season and the poor economic conditions throughout Europe severely reduced demand in August as the recovery of demand in September has not gone as smoothly as anticipated. The global ease in freight charges has provided some respite to the supply chain further impacting the EVOH market. Additionally, the buying appetite for import material has also been minimal, as there is no arbitrage from Asia registered despite storms and Typhoon during September 2024. European EVOH makers remain well-supplied domestically, further limiting the need for imports during this timeframe.
For the Quarter Ending June 2024
North America
In Q2 2024, the North American market for Ethyl Vinyl Alcohol Copolymer (EVOH) exhibited a mixed trend, from bullishness toward bearishness. Previously, due to the market's booming cosmetics sector, the EVOH market saw a significant demand for cosmetic packaging. According to Circana, U.S. beauty sales increased by $600 million in Q1 2024. Mass sales grew by 2%, whereas prestige sales increased by 9%.
In the meantime, the market encountered a moderate level of stock availability, which was brought on by the moderate operating rates at production facilities. This was mainly because there was a restricted supply of feedstock and steady offtakes from importers and buyers. As a ripple effect, several manufacturers have raised their offerings which led to a strong price trend for EVOH during April 2024.
However, the market declined during June 2024 amidst a low demand from the downstream packaging sector. Despite the typical seasonal uptick in demand for packaging applications, prices remained low due to ample stockpiles and muted consumer demand. Inflationary pressures further dampened buying interest, while consistent supply chain disruptions prevented any significant price drops.
APAC
In Q2 2024, the Ethyl Vinyl Alcohol Copolymer (EVOH) market in the APAC region exhibited a mixed sentiment leading to a downward pricing trend. Previously, the Asian market's booming downstream cosmetics industry drove significant demand for cosmetic packaging in the EVOH market. In Q1, 2024, L'Oréal reported a 6.2% increase in sales. The market, on the other hand, saw intermediate stock availability due to moderate operating rates at manufacturing facilities, which were mostly driven by a shortage of vinyl alcohol feedstock and steady offtakes from importers and buyers. Japan's Producer Price Inflation reached its highest level in four months in April 2024, rising from 0.20% in March to 0.30%. Henceforth, several producers have raised the offered quotations for EVOH during May 2024. However, the quarter's price decline was attributed to subdued demand from the downstream packaging industry, lingering supply chain disruptions, and unanticipatedly high inventory levels during June 2024. Weakening demand was exacerbated by falling ethylene vinyl acetate (EVA) spot prices, a crucial feedstock for EVOH production, which subsequently lowered production costs. Persistent logistical issues, such as port congestion and increased freight charges due to the Red Sea situation, further hampered market dynamics, though they were insufficient to offset the overall negative sentiment.
Europe
In Q2 2024, the Ethyl Vinyl Alcohol Copolymer (EVOH) market in Europe experienced a mixed market sentiment. Previously, the EVOH market in France exhibited a bullish sentiment from the downstream cosmetic sector. However, the trend was lowered in June 2024 due to the ample availability of stocks. The European market's booming cosmetics sector drove significant demand for cosmetic packaging in the EVOH market. With a 7.3% increase in revenue in Q1 2024, Beiersdorf demonstrated impressive growth at the end of April. A provisional agreement has been reached by the European Parliament and Council on legislation aimed at addressing packaging waste and promoting the circular economy. The suggested actions center on enforcing refill rules, establishing reuse targets, boosting the usage of recycled materials in packaging, and establishing sustainability standards. These programs seek to lessen packaging waste and encourage Europe's packaging sector to be more ecologically friendly. However, in June 2024, a primary reason for the downward pressure on prices was the sluggish demand from key downstream industries, including the packaging and bottling sectors. Rising inflation and cautious consumer spending due to economic uncertainties further dampened market sentiment. Additionally, ample stock availability and lower production costs, attributed to decreased ethylene vinyl acetate (EVA) feedstock prices, contributed to the negative pricing environment.
