For the Quarter Ending March 2022
North America
In the first quarter of 2022, the prices of Ethylene carbonate increased in the North American region. The upstream Ethylene Oxide prices rose throughout Q1 due to high feedstock Naphtha values in the North American market. High demand for downstream EV vehicles and their consistent offtakes in the US market during the first quarter of 2022 escalated the Ethylene Carbonate prices. Also, in the lubricating industries, demand remained stable. However, inconsistency in supply, especially in the second half of Quarter 1, due to supply constraints amid the global supply chain disruption, boosted the values of Ethylene Carbonate in North America. The FOB Gulf discussions for Ethylene Carbonate settled on USD 2712 per tonne on March 2022.
Asia Pacific
The price trend of Ethylene Carbonate fluctuated in the Asian Market in the 1st quarter of 2022. The feed Ethylene oxide values increased in Asia during Q1, especially in H2 of the quarter. In the Chinese market, the prices decreased in H1 but rebounded after mid-quarter amid the global supply chain disruptions. However, in India, prices increased continuously throughout Q1. In March, increased demand in the automotive sector due to strong downstream demand from the batteries and lubricants industry rose Ethylene Carbonate values significantly. The 99% Ethylene Carbonate discussions settled on USD 2526 per tonne on FOB basis at Qingdao, China.
Europe
Ethylene Carbonate prices rose in the European market during the 1st quarter of 2022. Feedstock Ethylene Oxide values increased consistently throughout Q1, and high energy values in the region escalated the production costs of Ethylene Carbonate. Stable demand for electric vehicles in the Automotives sector rose demand for Ethylene Carbonate in the Lithium-ion battery manufacturing industries, especially in March with continuous offtakes. In March, the values rose more significantly with uncertain supplies of raw materials in the second half of the quarter amid the supply chain constraints due to the war between Ukraine and Russia in the East - European region.
For the Quarter Ending December 2021
North America
During the fourth quarter of 2021, North America’s Ethylene Carbonate market sentiments remained buoyed throughout the quarter taking cues from the adequate support from the downstream inquiries from Lithium-ion battery industries. Despite the lower cost support from the upstream Ethylene tye offers for Ethylene Carbonate in the US domestic market observed significant gains from the downstream EV industries. As an end-user application of electrolytes provided ample support to the Ethylene Carbonate in the US domestic market. In repercussion, the offers for Ethylene Carbonate in the US persistently staggered upwards in the fourth quarter of 2021.
Asia Pacific
The Ethylene Carbonate market in the Asia Pacific witnessed substantial gains during the fourth quarter of 2021, and the growth factors were driven by rising demand from the downstream industries. As being a valuable electrolyte for EV batteries, it's been observed that the prices of battery raw materials have increased by a significant percentage since the second half of the fourth quarter amidst the supply glut. Whereas, the imposition of strict environmental protection norms by the Chinese authorities added an inflationary pressure in the Asia Electrolytes market followed by a robust demand outlook. As a ripple effect, the FOB Qingdao (China) discussions for Ethylene Carbonate 99% soared to USD 3200 per tonne, during the quarter ending.
Europe
In the fourth quarter of 2021, the Ethylene Carbonate sentiments in the European domestic market remained strengthened throughout the quarter, taking cues from the supply glut against the demand outstripping the supply capabilities. The energy crisis in Europe prevailed its impact in the operational loads at the manufacturing facilities coupled with the rebound in the Crude oil offers which ultimately hiked the operational cost for Ethylene Carbonate in the European domestic market. As a ripple effect, the offers for witnessed persistent growth in Q4 2021
For the Quarter Ending September 2021
North America
In North America, Ethylene Carbonate prices witnessed an upward trend during this quarter in the USA, due to steep rise in the feedstock prices backed by the volatility in the values of upstream crude oil. The demand for Ethylene Carbonate remained firm throughout the quarter driven by its prevalent consumption in the lithium-ion battery segment. Ida hurricane made landfall in Louisiana and in the Gulf Coast of USA which impacted the production rates as well as the supply chains as several manufacturers were compelled to shut down their production facilities ahead of the hurricane as a contingency plan. The situation consequently led to the constrained availability of the raw materials and hence contributed to inflation in the prices of Ethylene Carbonate in this quarter.
Asia
Asian markets of Ethylene Carbonate emulated the price trend of other regions such as North America in Q3 of 2021. Ethylene Carbonate prices attained tremendous gains during this timeframe backed by the improvement in the offtakes from the downstream sectors. In India, an exponential rise in the prices of Ethylene Carbonate was witnessed as a spillover effect of the global surge in its prices. In addition, a giant player of Ethylene Carbonate, Huntsman Corporation announced to expand its ULTRAPURE Ethylene Carbonate capacity in India due to the prominent surge in demand from the manufacturers of lithium-ion batteries. Furthermore, skyrocketing freight charges along with the shortage of shipping containers sent ripples to the prices of Ethylene Carbonate in this quarter. Thus, Ethylene Carbonate Ex-Mumbai prices rose from USD 1367.63 per MT to USD 1518.55 per MT from July to September.
Europe
In Europe, Ethylene Carbonate market experienced an upward rally backed by the limited availability of feedstock Ethylene Oxide across the region amidst strong demand from the downstream manufacturers. In addition, constantly soaring upstream Ethylene values followed by lower imports from the USA as an impact of Ida hurricane along with the low production rates due to energy crisis in Europe contributed to the inflation in the prices of EC throughout the quarter. Moreover, spiraling freight costs and critical shortage of shipping containers further influenced the prices of Ethylene Carbonate in the region during this timeframe.
For the Quarter Ending June 2021
North America
Ethylene Carbonate price showcased strong sentiments during this quarter in USA, due to substantial demand from downstream electric batteries. Consequently, prices of feedstock Ethylene Oxide rose steeply due to shortage during the meantime, which ultimately affected the price of Ethylene Carbonate in the country. Under new administration of Joe Biden, electric vehicles segment got a boost, as the new policies regarding emission from combustion engine gave opportunities to electrical vehicle manufacturers to expand their business. Meanwhile, many battery manufacturers planned to expand their production to counter the future demand in the country. Huntsman announced the expansion of its ultrapure Ethylene Carbonate manufacturing capacity by the mid of 2023.
Asia
Prices of Ethylene Carbonate remained stable across the APAC region during Q2 2021. While the demand from downstream sectors in India narrowed as the resurgence of pandemic halted the overall consumption in the country during May and June. However, due to spill over effect of global surge in prices of Ethylene Carbonate despite of the stable demand outlook in the country, prices of Ethylene Carbonate maintained its overall firmness in India. Despite of decline in demand during the month of June, prices were counterbalanced by halted trading activities across the major ports in India. In China, demand for Ethylene Carbonate remained firm from domestic Lithium-Ion batteries segment. Therefore, prices were accessed as USD 1335/MT in India and USD 1395/MT in China in the first week of June.
Europe
Plant turnarounds in European countries like Germany, Belgium and Netherland impacted the overall availability of feedstock Ethylene Oxide across the region. The shortage led to significant rise in the price of Ethylene Carbonate during this timeframe across Europe. In addition, upstream Ethylene price in Europe also rose, as imports from USA also remained on low pace. Therefore, prices of Ethylene Carbonate remained firm throughout the quarter taking support from firm demand from batteries manufacturers and strong feedstock values.
For the Quarter Ending March 2021
North America
Despite its wide applications as an electrolyte, the demand of Ethylene Carbonate (EC) from the downstream segments remained in a narrow range during Q1 2021. However, the prices showed improvement, backed by firmer feedstocks and lower regional output due to shortage of raw materials. After the winter storm in the gulf of USA, in the second half of the quarter, more than 65% of the feedstock EO (Ethylene Oxide) production was halted in the region and translating these raw material price gains, Ethylene Carbonate prices surged by double digits during the quarter.
Asia
Prices of Ethylene Carbonate rose globally due to the shortage of feedstock materials and inflation in shipping rates during the quarter. Similarly, in the Asian market, prices of EC gained by a significant percentage. Demand for EC and EO slumped in the Chinese market during the Lunar New Year holidays, which later rebounded sharply in the last week of February. Shortage of upstream Ethylene, carrying high value in the global market also impacted the prices of downstream EC.
Europe
Winter storm and unplanned turnarounds at several plants in the US gulf coast affected the availability of raw materials in the European countries. As the exports readily reduced and demand from Asia was diverted from USA and concentrated over Europe, the regional prices of Ethylene Carbonate rose effectively during this period and remained volatile with the upstream supply. This led the prices of EC to gain by a significant per cent, although the domestic demand remained comparatively lower than the export potential.
For the Quarter Ending December 2020
Asia
The demand of Ethylene Carbonate remained low to moderate during Q4 2020 across the APAC region. Post COVID-19 recovery, industrial and domestic activities gained speed in most of the Asian countries. In China, Li-ion batteries market also started coming on track and demand for Ethylene Carbonate started rising though the prices remained stable at USD 1220/tonne during final quarter. In addition, Japan had a great boost of more than 10% in the prices of Ethylene Carbonate from November to December 2020 as an effect of planned shutdown of Eneos’ major upstream ethylene plant of capacity 540,000 tonne/year. Meanwhile, India faced slight boost of 2.7% in prices during the same period.
Europe
The second wave of COVID-19 infections in Europe disrupted the supply of several industrial as well as imported chemicals which created the shortage of feedstock chemicals, thereby raising Ethylene Carbonate prices. Exxonmobil’s Ethylene manufacturing unit in Scotland caught fire in October, that created forced shutdown for several days. This created more shortage of upstream Ethylene, required for the production of downstream Ethylene Oxide and Ethylene Carbonate. Meanwhile, European commission declared that they injected a huge investment for the production of lithium-ion batteries in Europe. This investment is aimed at placing Europe in second no. in battery manufacturing by 2024. EC is majorly used in Li-ion batteries and hence the demand is anticipated to rise.
North America
North America suffered shortage of several upstream chemicals including Ethylene. The shortage came due to disrupted operations at several plants across the gulf coast as effect of multiple hurricanes across the region. The demand for EC remained stable and hence the prices didn’t fluctuate much. The price of EC hovered around 1450 USD/tonne in USA. Meanwhile, the demand of feedstock EO was increasing, that significantly uplifted its prices.
