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.
For the Quarter Ending December 2024
North America
The North American Ethylene Carbonate market in Q4 2024 exhibited a mixed price trajectory, largely influenced by the dynamics of the global electrolyte market. Initially, the quarter witnessed relative price stability amidst an oversupplied electrolyte market and reduced consumer inquiries.
This oversupply, driven by factors such as increased production from major players, exerted significant downward pressure on Ethylene Carbonate prices. While demand from the EV sector, particularly in the US, showed promising growth, it was insufficient to offset the impact of oversupply. Towards the end of the quarter, prices began to decline further, primarily due to cautious purchasing behavior from battery manufacturers and EV makers.
This cautious approach was influenced by factors such as tightening regulations in key markets and concerns about the overall economic outlook. Despite these challenges, the North American Ethylene Carbonate market demonstrated some resilience. The growing demand for EVs in the region, albeit at a slower pace compared to other markets, continued to support the market. However, the overall market sentiment remained subdued, with concerns about oversupply and potential price volatility persisting.
APAC
The APAC Ethylene Carbonate market in Q4 2024 presented a dynamic picture, characterized by both upward and downward price movements. The quarter commenced with a bullish trend, driven by strong demand from downstream material plants for pre-holiday inventory buildup. This surge in demand, coupled with cost support from the upstream market, led to a notable increase in prices. However, this upward trajectory was gradually tempered by factors such as increased inventory levels and subdued consumer demand towards the end of the quarter. Year-end destocking activities further contributed to price declines. Despite these downward pressures, the market remained underpinned by the robust growth of the electric vehicle (EV) sector. The record-breaking EV sales in China throughout the quarter provided significant support to the Ethylene Carbonate market, as it is a crucial component in the production of lithium-ion batteries. While challenges such as fluctuations in raw material prices, particularly LiPF6, were observed, the overall market demonstrated resilience, reflecting the strong long-term growth prospects of the EV industry in the region.
Europe
The European Ethylene Carbonate market in Q4 2024 exhibited a mixed price trajectory. The quarter commenced with a bearish trend, primarily driven by a significant influx of cheaper imports from Asia. Declining freight charges and increased container availability further exacerbated the downward pressure on prices. While Chinese producers-initiated efforts to curb output, these measures were proven insufficient to stabilize the electrolyte market. A notable shift occurred mid-quarter, with prices experiencing a gradual increase. This upward trend was primarily attributed to rising production costs in major exporting nations, particularly driven by increased Ethylene Oxide prices and higher demand from the domestic market. However, European demand remained relatively subdued, with limited impact on the overall market dynamics. Towards the end of the quarter, prices experienced further appreciation due to the arrival of higher-priced imports from China. Rising demand for electrolytes from Chinese battery cell manufacturers, coupled with increased production costs, significantly impacted export prices. Despite this upward pressure, European demand remained weak, with no significant supply shortages observed in the region.
For the Quarter Ending September 2024
North America
In Q3 2024, the North American market for ethylene carbonate experienced a notable downturn, with prices seeing a sharp decline compared to the same period last year. Several factors contributed to this drop, including weak demand, high inventory levels, and sluggish procurement activity.
Additionally, increased imports and limited cost support from upstream sectors added to the downward pressure, reinforcing the overall negative market sentiment. In the U.S., which saw the most pronounced price changes, the trend followed the broader North American market, with prices starting to decline early in the quarter due to ongoing challenges. This downward momentum persisted throughout the second half of the quarter, reflecting a continuous decrease in pricing.
By the end of Q3 2024, ethylene carbonate prices had settled at lower levels, underscoring a challenging market environment defined by oversupply and weak demand. The pricing trend for ethylene carbonate across North America during this period remained consistently negative, shaped by an excess of supply, weak market demand, and difficult conditions in both upstream and downstream sectors.
APAC
In Q3 2024, the Ethylene Carbonate (EC) market in the APAC region experienced a significant upward trend in prices. This quarter has been characterized by a surge in demand from various industries, particularly the battery manufacturing sector, driving market prices higher. Factors influencing this price increase include improved consumer demand, stable support from upstream markets, and heightened procurement activities. China's electrolyte production by leading manufacturers reached 99,500 tonnes in August, a 2.05% month-on-month increase driven by higher production plans from battery cell factories. China, in particular, witnessed the most substantial price changes, with a 26% increase from the same quarter last year. The quarter-on-quarter price change in 2024 stood at 12%, indicating a continued positive trajectory. Notably, the second half of the quarter saw a 4% price increase compared to the first half. The quarter-ending price of USD 945/MT for Ethylene Carbonate Battery Grade FOB Qingdao in China reflects the overall positive pricing environment in the region. This quarter has been marked by stability, with consistent price growth and strong market confidence driving the Ethylene Carbonate market forward.
Europe
In Q3 2024, the European market for ethylene carbonate saw a continued decline in prices, reflecting a bearish sentiment driven by several critical factors. Oversupply issues, combined with weak demand from both Asian and North American markets, played a major role in pushing prices downward. The lack of substantial cost support from upstream sectors also added pressure on ethylene carbonate prices throughout the quarter. The challenging market environment, characterized by high inventory levels and sluggish demand, intensified the downward pricing trend. European producers faced further complications, such as rising production costs, weak consumer demand from downstream industries, and worsening economic conditions, all of which contributed to the difficult conditions in the ethylene carbonate market. Belgium and Germany, in particular, experienced the most pronounced price fluctuations in the region. The steep year-on-year price decline highlights the tough market environment, while the quarter-on-quarter changes and the notable differences between the first and second halves of the quarter emphasize the persistent downward trajectory in ethylene carbonate prices.
Frequently Asked Questions (FAQs):
1. What is the current price of Ethylene Carbonate in APAC?
As of June 2025, Ethylene Carbonate prices in China stood at around USD 638 per tonne FOB Qingdao.
2. What is the current price of Ethylene Carbonate in North America?
In Q2 2025, Ethylene Carbonate prices in North America remained largely stable.
3. What is the current price of Ethylene Carbonate in Europe?
As of Q2 2025, EC prices in Europe held steady, with consistent import flows from Asia and subdued consumption.
4. Why did Ethylene Carbonate prices change in July 2025?
• APAC: Prices softened due to just-in-time procurement, cautious electrolyte demand, and stable raw material costs.
• North America: Prices likely remained flat as downstream demand held steady and feedstock pricing stayed manageable.
• Europe: Prices stayed stable, with buyers maintaining low inventories and Asian import flows continuing without disruption.
