For the Quarter Ending December 2025
APAC
• In China, the Ethylene Carbonate Price Index rose by 16.08% quarter-over-quarter, supported by battery demand.
• The average Ethylene Carbonate price for the quarter was approximately USD 698.00/MT, reported FOB Qingdao.
• Ethylene Carbonate Spot Price strengthened as inventories tightened and exporters booked barrels, limiting prompt availability.
• Ethylene Carbonate Price Forecast indicates near-term gains tempered by upcoming plant restarts and feedstock flows.
• Ethylene Carbonate Production Cost Trend showed rising coal-based ethylene oxide, elevating cash costs, firming offers.
• Ethylene Carbonate Demand Outlook strong as EV and ESS sustain electrolyte procurement, supporting production levels.
• Ethylene Carbonate Price Index volatility increased at quarter-end due to export loadings and tighter availability.
• Major domestic producers ran high operating rates post-turnarounds, limiting spot volumes and prompting contract coverage.
Why did the price of Ethylene Carbonate change in December 2025 in APAC?
• Export bookings absorbed incremental supply, and inventories fell below coverage, tightening availability and elevating prices.
• Rising coal-based ethylene oxide costs and firmer steam tariffs increased cash costs, pressuring producer margins.
• Strong year-end electrolyte procurement by battery makers, supported by NEV sales, intensified downstream offtake significantly.
Europe
• In Europe, Ethylene Carbonate demand is driven by EV battery electrolytes, industrial solvents, and specialty chemical formulations, linking its market closely to automotive electrification trends.
• The Ethylene Carbonate Price Index in Q4 2025 showed a bearish trend, influenced by weak EV sales growth and delayed battery plant ramp-ups.
• The Ethylene Carbonate Spot Price declined steadily as buyers adopted conservative procurement strategies amid macroeconomic uncertainty.
• In December 2025, prices decreased, primarily due to seasonal demand slowdown, excess spot availability, and reduced offtake from battery electrolyte producers.
• The Ethylene Carbonate Production Cost Trend remained mixed, with lower feedstock prices partially offset by higher energy and compliance costs in Europe.
• The Ethylene Carbonate Demand Outlook remains subdued in the short term, though structural growth from energy storage and EV policies supports longer-term demand.
• The Ethylene Carbonate Price Forecast suggests prices may remain range-bound in early 2026 until downstream demand improves.
Why did the price of Ethylene Carbonate change in December 2025 in Europe?
• The Ethylene Carbonate Price Index declined due to year-end demand slowdown from battery and industrial solvent consumers.
• Excess spot supply and delayed restocking by electrolyte manufacturers pressured the Ethylene Carbonate Spot Price.
• Softer upstream feedstock prices reduced cost support despite relatively high production expenses.
North America
• Ethylene Carbonate is widely used as a key solvent in lithium-ion battery electrolytes, as well as in lubricants, plasticizers, gas separation membranes, and pharmaceutical intermediates, making battery demand the primary price driver.
• During Q4 2025, the Ethylene Carbonate Price Index in North America showed a slightly bearish to stable trend, reflecting moderate supply availability and cautious downstream procurement.
• The Ethylene Carbonate Spot Price softened during October and November as battery manufacturers slowed purchasing due to sufficient inventories and delayed EV production schedules.
• In December 2025, the Price Index declined, driven by year-end destocking, reduced battery electrolyte demand, and lower ethylene oxide feedstock costs.
• The Ethylene Carbonate Production Cost Trend improved marginally as energy prices stabilized and upstream petrochemical inputs softened, reducing cost pressure on producers.
• The Ethylene Carbonate Demand Outlook remains moderate, supported by long-term battery investments, though near-term demand recovery is expected to be gradual.
• According to the Ethylene Carbonate Price Forecast, prices are expected to stabilize in early 2026 as restocking resumes and battery production ramps up.
Why did the price of Ethylene Carbonate change in December 2025 in North America?
• Aggressive destocking by battery producers reduced spot market demand.
• A favorable Ethylene Carbonate Production Cost Trend allowed suppliers to lower prices.
• Slower EV production schedules weakened the short-term Ethylene Carbonate Demand Outlook.
For the Quarter Ending September 2025
APAC
• In China, the Ethylene Carbonate Price Index fell by 10.02% quarter-over-quarter, reflecting weaker export demand.
• The average Ethylene Carbonate price for the quarter was approximately USD 601.33/MT, reflecting EV demand.
• Ethylene Carbonate Spot Price remained range-bound as producers passed through steady ethylene oxide feedstock costs.
• Ethylene Carbonate Price Index showed downward pressure from subdued exports despite high coastal plant operating rates.
• Ethylene Carbonate Production Cost Trend was neutral as ethylene oxide and CO2 feedstocks stayed steady.
• Ethylene Carbonate Demand Outlook remains steady with robust EV and ESS procurement offsetting cautious buying.
• Ethylene Carbonate Price Forecast indicates modest upside from restocking, balanced by ample inventories and market competition.
• Ethylene Carbonate Price Index volatility was limited by comfortable inventories, smooth logistics, and steady coastal plant operations.
Why did the price of Ethylene Carbonate change in September 2025 in APAC?
• Balanced supply-demand as high plant run-rates met resilient EV demand, capping any significant price increases.
• Stable feedstock ethylene oxide and CO2 costs kept production expenses contained, limiting upward pricing pressure.
• Just-in-time procurement and subdued export spot buying reduced transactional volumes, exerting mild downward pressure on.
North America
• Ethylene Carbonate Spot Price in North America remained relatively firm through Q3 2025, supported by stable demand from lithium-ion battery manufacturers and industrial lubricants sectors.
• The Price Index showed a mild upward trend in July and August, but declined slightly in September 2025 due to easing feedstock costs and moderate downstream restocking activity.
• Key downstream uses of Ethylene Carbonate include electrolyte solvents in lithium-ion batteries, plasticizers, lubricants, and surface coatings, with battery applications dominating demand.
• The Ethylene Carbonate Production Cost Trend eased in September due to lower ethylene oxide prices and improved plant utilization rates, contributing to the slight price dip.
• The Ethylene Carbonate Demand Outlook remains positive, driven by robust EV sales and expanding energy storage projects, though Q3 saw a temporary slowdown in procurement due to inventory saturation.
• The Ethylene Carbonate Price Forecast for Q4 2025 suggests a rebound, supported by seasonal demand recovery and tightening supply from planned maintenance turnarounds.
Why did the price of Ethylene Carbonate change in September 2025 in North America?
• A decline in ethylene oxide prices, a primary raw material, reduced overall production costs, contributing to a softer Ethylene Carbonate Spot Price and a downward shift in the Price Index.
• Higher operating rates at production facilities enhanced supply availability, which, combined with stable demand, reduced pricing pressure.
• Downstream buyers engaged in only essential procurement due to previously accumulated inventories, leading to a temporary dip in demand and a slight price correction.
Europe
• Ethylene Carbonate Spot Price in Europe remained stable through most of Q3, with a slight increase in September 2025 due to tightening supply and strong demand from the automotive sector.
• The Price Index reflected upward momentum in September, driven by increased procurement from battery manufacturers and limited imports from Asia.
• Major downstream uses in Europe include battery electrolytes, industrial lubricants, personal care formulations, and medical applications, with EV growth fueling demand.
• The Ethylene Carbonate Production Cost Trend rose marginally in September due to higher energy costs and constrained feedstock availability, contributing to the price uptick.
• The Ethylene Carbonate Demand Outlook remains bullish, supported by EU electrification targets and rising consumer electronics production.
• The Ethylene Carbonate Price Forecast for Q4 2025 indicates continued firmness, with potential supply bottlenecks and sustained demand from battery and industrial sectors.
Why did the price of Ethylene Carbonate change in September 2025 in Europe?
• Limited imports from Asia and constrained local production led to reduced availability, pushing the Ethylene Carbonate Spot Price slightly higher.
• Increased procurement from battery manufacturers, especially for EV applications, drove up the Price Index during the month.
• The Ethylene Carbonate Production Cost Trend rose due to higher energy prices and restricted feedstock access, contributing to the upward price movement.
For the Quarter Ending June 2025
Asia-Pacific (APAC)
• The Ethylene Carbonate Price Index in China rose slightly by 0,9% quarter-on-quarter, settling at around USD 638 per tonne FOB Qingdao in June.
• Why did the price of Ethylene Carbonate change in July 2025 in China?
Prices softened in early July amid subdued restocking activity and persistent just-in-time procurement from electrolyte and battery material manufacturers.
• The Ethylene Carbonate Price Forecast for Q3 suggests a rangebound-to-soft trajectory. While EV production remains firm, cautious downstream procurement and stable feedstock pricing are likely to cap significant upside.
• The Ethylene Carbonate Production Cost Trend remained soft throughout Q2, driven by falling feedstock ethylene oxide costs. In early May, ethylene oxide prices fell 3.1%, enabling producers to cut EC offers while maintaining margins.
• The Ethylene Carbonate Demand Outlook was steady but cautious. Despite high NEV output, electrolyte and cathode manufacturers maintained lean inventories, limiting bulk EC procurement. Export volumes held firm, but spot demand from India and the U.S. remained muted due to tariff uncertainty and freight costs.
• China’s packaging and consumer electronics sectors offered minimal incremental support to EC demand, while battery-related consumption remained the primary driver.
• Automotive Sector: NEV registrations in China reached 1.31 million units in May, marking a record high for the year.
• Power battery installations surged, lifting baseline EC consumption. However, most end-users continued to source hand-to-mouth amid declining lithium salt prices.
North America
• The Ethylene Carbonate Price Index in North America likely remained stable through Q2 2025, supported by consistent demand from lithium-ion battery and specialty chemical segments.
• Why did the price of Ethylene Carbonate change in July 2025 in North America?
Prices held steady as producers balanced strong EV battery-related consumption with cautious restocking across energy storage and electronics applications.
• The Ethylene Carbonate Price Forecast for Q3 indicates modest upward potential, depending on battery-grade solvent demand and raw material volatility. Tariff shifts may also influence import dynamics from Asia.
• The Ethylene Carbonate Production Cost Trend remained manageable, aided by relatively low upstream costs and stable energy pricing.
• Domestic EC production was adequate to meet contract demand.
• The Ethylene Carbonate Demand Outlook is supported by ongoing investments in gigafactory capacity and electric mobility.
• However, conservative procurement strategies in smaller battery and chemical formulation firms kept spot activity subdued.
• The Automotive Sector continued to underpin EC demand, particularly with EV and plug-in hybrid vehicle production rising in the U.S. and Canada.
• Midstream battery manufacturers remained steady consumers of electrolyte solvents like EC.
Europe
• The Ethylene Carbonate Price Index in Europe was largely stable through Q2, with muted movements reflecting cautious buying and reliance on Asian imports.
• Why did the price of Ethylene Carbonate change in July 2025 in Europe?
Prices stayed rangebound as import flows remained uninterrupted and downstream demand showed no significant rebound.
• The Ethylene Carbonate Price Forecast for Q3 suggests steady-to-soft movement due to flat EV production, higher regulatory compliance costs, and elevated freight rates from Asia.
• The Ethylene Carbonate Production Cost Trend remained pressured by regional energy costs, but stable Asian imports helped limit volatility in landed pricing.
• The Ethylene Carbonate Demand Outlook in Europe stayed conservative.
• NEV adoption showed signs of slowing, and industrial solvent demand remained tied to battery-grade material use.
• Buyers continued to minimize inventories and deferred bulk procurement.
• The Automotive Sector faced margin pressures amid rising compliance costs and soft retail trends.
• While EV market share remained strong in Western Europe, actual vehicle output growth was muted, keeping EC demand on a tight leash.
For the Quarter Ending March 2025
North America
In the first quarter of 2025, the U.S. Ethylene Carbonate (EC) market, which depends significantly on imports from China, experienced a modest decline in pricing due to ongoing global oversupply and cautious buying behavior downstream. The price weakening observed in January and February stemmed mainly from restrained restocking by battery and electrolyte manufacturers and the broad availability of material across global supply chains. Although March brought minor stabilization, overall market sentiment remained cautious amid limited procurement and ongoing logistical concerns.
On the supply front, Chinese EC exporters maintained steady production levels. Falling upstream input costs added downward pressure on EC manufacturing expenses, influencing export values. In the U.S., import levels reflected conservative purchasing trends and varied buyer sentiment. Weather disruptions in major lithium-producing areas and delays in several international projects helped slightly ease supply pressure but did not substantially affect EC availability.
Demand-wise, the domestic battery sector gave mixed signals. Electric vehicle sales increased by 20% year-over-year in February, buoyed by federal incentives and broader model availability. Nevertheless, uncertainty surrounding policy under President Trump—particularly potential changes to EV tax incentives and emissions standards—kept sentiment restrained.
APAC
In the first quarter of 2025, the Ethylene Carbonate (EC) market in China experienced fluctuating prices driven by weak demand and cautious procurement behavior. Starting January, prices saw a slight decline due to low consumer demand and year-end inventory adjustments. This was coupled with stable upstream costs, leading to a balanced supply-demand situation. As the month progressed, demand for electrolytes from battery manufacturers remained moderate, and the overall growth rate of end-use markets slowed.
However, prices saw a slight increase in February due to external pressures, including upstream cost pressures and logistics challenges, but weak post-holiday demand from battery manufacturers kept the market subdued. The electrolyte production rate in China also declined, with a noticeable dip in manufacturing output as producers adjusted to reduced demand and inventory levels. The automotive sector showed mixed signals, with a decrease in sales during the Chinese New Year period, though there was an increase in year-over-year sales of new energy vehicles (NEVs).
Throughout the quarter, the market remained cautious, with demand from battery manufacturers continuing to remain low. However, by March, Ethylene Carbonate prices showed further declines, largely due to slower recovery in downstream markets and low demand for electrolytes. Despite this, the supply chain remained stable, with manufacturers aligning production to actual demand.
Europe
During the first quarter of 2025, the Ethylene Carbonate (EC) market in the Netherlands remained muted, impacted by fragile demand fundamentals, conservative buying patterns, and ongoing shifts in battery chemistry preferences across Europe. The start of January was marked by a largely steady domestic environment, with minimal movement in supply or raw material cost dynamics. Despite a moderately positive downstream outlook, procurement activity stayed low amid year-end stock adjustments and broader economic hesitation.
Throughout the quarter, EC imports into the Netherlands remained modest. Slower activity from major exporting countries echoed the general downturn in global demand. Pressure on battery manufacturing demand persisted, driven by an oversupplied lithium market and slower EV momentum, particularly following the Chinese New Year and amid elevated inventory levels. Additionally, a growing preference for more affordable lithium-iron-phosphate (LFP) batteries over nickel-manganese-cobalt (NMC) variants contributed to evolving procurement behavior.
On the manufacturing side, electrolyte production rates fell, mirroring decreased offtake and reserved buying strategies in downstream segments. Geopolitical tensions, shifting international trade policies, and concerns over new tariff regimes added further uncertainty. Despite some policy support and infrastructure initiatives within parts of Europe, the quarter closed on a soft note, with no significant resurgence in EC market activity.
