For the Quarter Ending March 2025
North America
In Q1 2025 Polybutylene Terephthalate (PBT) prices in North America recorded a marginal quarter-on-quarter decline compared to Q4 2025. At the start of the quarter, prices declined amid stable feedstock costs and subdued procurement, with balanced supply and a contracting manufacturing sector limiting momentum. Demand from the automotive sector was steady but insufficient to drive gains. Supply-side stability improved after the ILA and USMX resolved port strike threats through a six-year labour agreement, averting major logistical disruptions and easing concerns over domestic oversupply.
Mid-quarter, prices rebounded, driven by rising PTA costs and supply chain disruptions from adverse weather and labour shortages. While export orders softened, steady domestic demand—buoyed by proactive buying ahead of anticipated tariffs—helped sustain the market.
By quarter-end, PBT prices stabilized as supply chains normalized and raw material costs levelled off. Automotive sector consumption improved, yet weak export demand and continued economic uncertainties curtailed stronger momentum, keeping prices firm without further movement. THE U.S. witnessed the most significant change with a noticeable drop of 0.5% in Q1 2025 compared to Q4 2024, with the quarter-end price settling at USD 3250/MT FOB New York, reflecting cautious sentiment, and restrained buying interest.
APAC
In Q1 2025 Polybutylene Terephthalate (PBT) prices in APAC region recorded a quarter-on-quarter incline of 1.4% to Q4 2024. At the start of the quarter, prices declined slightly due to subdued demand and cautious inventory management by end-users. The automotive and electronics sectors showed average offtake, while export activity weakened amid global economic headwinds. With limited pre-holiday restocking ahead of the Chinese New Year and restrained industrial activity, the market lacked upward momentum. Mid-quarter, PBT prices rebounded modestly, supported by higher feedstock costs—especially PTA—and improved market activity following the Spring Festival. Manufacturers resumed operations with a focus on inventory replenishment. Demand from the automotive sector stayed moderate as automakers prioritized stock rebuilding, contributing to short-term firmness in market sentiment. By quarter-end, prices declined again due to oversupply pressures and weak downstream demand, though raw material costs softened. Despite this late-quarter dip, the earlier recovery driven by post-holiday demand and higher input costs lifted the overall quarterly average, resulting in a net Q1 price incline. Thailand saw the steepest rise, with quarter-end prices at USD 310/MT CFR Bangkok.
Europe
In Q1 2025 Polybutylene Terephthalate (PBT) prices in European region recorded a quarter-on-quarter decline of 0.7% compared to Q4 2024. At the start of the quarter, prices held steady as supply remained balanced due to stable production schedules during seasonal holidays. However, demand was weak, particularly in the automotive sector, where reduced incentives and high costs suppressed new vehicle registrations. Buyers adopted a cautious stance following year-end destocking, limiting fresh procurement, and keeping market activity subdued. Mid-quarter, prices recorded a marginal increase as rising PTA feedstock costs lifted production expenses. Manufacturing sentiment improved slightly amid easing contraction in new orders and output. Though demand remained below average, a modest uptick in inventory restocking supported temporary price recovery. By quarter-end, the market retreated again. Falling raw material costs and competitive imports from Asia weakened pricing. End-user demand in automotive and electrical sectors remained soft, with no signs of near-term revival. Germany witnessed the most significant change with a noticeable drop compared to Q4 2024, with the quarter-end price settling at USD 4490/MT FOB Hamburg, reflecting lacklustre demand and limited buying interest.
South America
In Q1 2025 Polybutylene Terephthalate (PBT) prices in the South American region recorded a quarter-on-quarter decline compared to Q4 2024. Early in the quarter, PBT prices in Brazil remained stable, supported by balanced supply-demand dynamics. Despite inflationary pressures and rising costs in the manufacturing sector, the market remained steady, with adequate inventories meeting demand. Weaker international demand did not significantly affect the local market. As the quarter progressed, PBT prices rose slightly due to tightening supply, driven by feedstock price pressures, logistical delays, and Brazil’s weak currency inflating import costs. Disruptions from labour shortages and extreme weather conditions in the U.S. exacerbated the supply situation. Despite mixed automotive sector performance, with a decline in month-over-month sales, the tight supply kept prices on an upward trajectory. By the end of the quarter, prices stabilized, driven by steady supply and balanced demand. Imports from global suppliers and declining raw material costs in Europe helped maintain stability. Brazil saw the most significant change with a noticeable 0.4% decline compared to Q4 2024, with the quarter-end price settling at USD 2645/MT CFR Santos, reflecting lacklustre demand and limited buying interest.
For the Quarter Ending December 2024
North America
In Q4 2024, the North American PBT market experienced a modest decline of 2% compared to Q3. The quarter was characterized by weak demand, coupled with year-end seasonal factors and persistent logistical challenges. Early in the quarter, prices showed stable to marginal downward fluctuations, attributed to low production costs due to stable feedstock BDO prices and falling PTA prices and weak downstream demand.
However, this stability did not persist throughout the quarter. Towards the end of the quarter, PBT prices weakened, reflecting subdued market activity amidst the year-end seasonal slowdown and persistent destocking efforts. Downstream sectors, particularly automotive, remained under pressure, with procurement focused on immediate operational needs and limited new orders. Weak export expectations due to continued lack of momentum in foreign business amplified the market downturn. Although logistical challenges persisted at West Coast ports and transpacific freight rates remained elevated, these factors primarily pointed to potential future price increases rather than contributing to the current decline.
The quarter-ending price for PBT in the US stood at USD 3245/MT, illustrating the overall downward trend throughout Q4 2024, despite potential future price increases due to lingering logistical issues.
APAC
The Polybutylene Terephthalate (PBT) market in the APAC region experienced a 5% decline in Q4 2024 compared to Q3, driven by weak demand and excess inventory. Early in the quarter, PBT prices remained stable, supported by steady feedstock costs and moderate demand from downstream industries. However, as the quarter progressed, the automotive and electrical appliance sectors showed limited demand, putting downward pressure on prices. Reduced feedstock costs, such as lower prices for Butanediol and PTA, helped maintain cost-effective PBT production, but these benefits were offset by subdued purchasing activity and a high inventory overhang. Freight rates increased slightly as the Christmas season approached, but this did not result in sustained price growth. Throughout the quarter, PBT prices exhibited minimal fluctuation, with only slight decreases as the year-end slowdown and cautious purchasing by manufacturers limited market momentum. By December 27, 2024, the price of PBT CFR Shanghai in China stood at USD 1181/MT, reflecting a stable yet weak market sentiment. As demand from key sectors remained muted, market participants continue to face challenges due to global economic pressures and overhang inventory.
Europe
In Q4 2024, the Polybutylene Terephthalate (PBT) market in Europe saw a 2% decline in prices compared to Q3, driven by weakened demand and ongoing destocking efforts. Early in the quarter, PBT prices in European market experienced marginal downward fluctuations, supported by low production costs and limited demand from the automotive and manufacturing sectors. Feedstock prices for BDO remained stable, while PTA prices softened due to an oversupply as several PTA plants resumed operations after maintenance. As the quarter progressed, the automotive sector's persistent downturn and overall market contraction further pressured PBT prices. The year-end seasonal slowdown amplified cautious purchasing behaviour, as manufacturers focused on managing existing inventories rather than placing new orders. The automotive sector continued to experience weak demand, which, coupled with limited export activity, contributed to a restrained market environment. By the quarter’s end, PBT prices in Germany stood at USD 4658/MT. Throughout Q4, the combination of sluggish downstream demand, reduced procurement activities, and the seasonal dip in market activity caused suppliers to focus on clearing stockpiled inventories.
South America
The South American Polybutylene Terephthalate (PBT) market experienced a 2% decline in Q4 2024 compared to Q3, driven by persistent weak demand across key sectors and external price pressures. Throughout the quarter, muted activity in the automotive and electrical appliance industries restrained procurement levels. The automotive sector, heavily reliant on PBT for durable component production, grappled with reduced vehicle manufacturing, while the electrical appliance industry maintained cautious inventory practices amid modest production schedules. Oversupply, compounded by the influx of lower-priced imports, added to the bearish sentiment in the domestic market. Internationally, U.S. exporters reduced PBT prices due to declining crude oil costs and subdued global demand, further pressuring Brazilian prices. Local suppliers responded by softening rates to remain competitive, which contributed to the quarter’s overall decline. By the end of Q4, seasonal year-end slowdowns and destocking further tempered market activity, preventing any meaningful recovery. The quarter-ending price for PBT CFR Santos in Brazil stood at USD 3295/MT. With automotive sector challenges and international price volatility, market participants face headwinds in managing inventory levels and planning for early 2025.
For the Quarter Ending September 2024
North America
In Q3 2024, the Polybutylene Terephthalate (PBT) market in North America experienced a notable decline in prices, influenced by several key factors. Weak support from feedstock costs, particularly for Butanediol, played a significant role in this downward trend. As feedstock prices fell, an oversupply emerged, exerting additional downward pressure on PBT prices. Furthermore, moderate demand from downstream sectors such as automotive and electrical appliances manufacturing contributed to a stable yet declining pricing environment. This quarter recorded a 3.5% decrease compared to the same period last year, reflecting a persistent downward trajectory in the market.
Despite this decline, there was a slight increase of 0.3% compared to the previous quarter in 2024, indicating a degree of pricing stability amid broader fluctuations. This consistency suggests that while market conditions are challenging, they are not in free fall, allowing for some resilience.
By the end of the quarter, the price for Polybutylene Terephthalate IM Grade FOB New York stood at USD 3320/MT, underscoring the prevailing negative sentiment within the pricing environment.
APAC
In Q3 2024, the Polybutylene Terephthalate (PBT) market in the APAC region experienced a significant downturn in prices, marked by a notable 9.5% decrease compared to the same quarter last year and a 2.5% decline from the previous quarter in 2024. Japan was particularly affected, showcasing the most pronounced price fluctuations that mirrored the broader regional trend of decreasing prices. Several factors contributed to this negative trajectory. Weak demand from key downstream industries, especially automotive and electronics, hindered market momentum. This decline in offtake resulted in excess supply, further exacerbating price pressures. Additionally, stable to low feedstock costs, particularly for Butanediol (BDO) and Purified Terephthalic Acid (PTA), failed to provide any upward support for PBT pricing. The data revealed a 1% price difference between the first and second halves of the quarter, underscoring a consistent downward trend. By the end of the quarter, the recorded price for Polybutylene Terephthalate IM Grade FOB Tokyo stood at USD 2966/MT, encapsulating the prevailing negative sentiment and the challenges faced by the market.
Europe
In Q3 2024, the Polybutylene Terephthalate (PBT) market in Europe experienced a downward trend in prices, with Germany being notably impacted by the decreasing prices. Several significant factors contributed to this decline. Firstly, subdued demand from key industries such as automotive and electrical appliances played a crucial role in driving prices lower. The weak offtake from these sectors led to a surplus in supply, putting downward pressure on PBT prices. Additionally, stable feedstock costs, particularly Butanediol and PTA, failed to provide any support for price increases, further contributing to the overall decrease in market prices. Germany, in particular, witnessed the maximum price changes during this period. This quarter, PET prices in the German market declined by 1% compared to the previous quarter. However, the quarter saw a balanced prices trend compared to the same quarter of the previous year. Ultimately, the quarter-ending price for Polybutylene Terephthalate IM Grade FOB Hamburg in Germany was recorded at USD 4728/MT, reflecting the prevailing decreasing sentiment in the market.
South America
Throughout Q3 2024, the South America Region witnessed a declining trend in Polybutylene Terephthalate (PBT) prices. This quarter proved challenging for PBT pricing due to several significant factors. One key influence was the consistent decrease in feedstock costs, which led to a downward pressure on PBT prices. Additionally, the region experienced limited demand from key sectors like automotive and electrical appliances, contributing to the overall price decrease. Seasonality also played a role, with the market showing a typical slowdown in procurement activities during this period. Notably, the correlation in price changes between the first and second half of the quarter reflected a negative trend, further emphasizing the decreasing price environment. Moving specifically to Brazil, the market saw the most substantial price changes in the region during Q3 2024. With a -3.5% decrease from the same quarter last year, and a -0.2% change from the previous quarter in 2024, Brazil experienced a notable decline in PBT prices. Ultimately, the quarter-ending price for Polybutylene Terephthalate CFR Santos in Brazil stood at USD 3370/MT, reflecting the prevailing negative sentiment in the pricing environment.
For the Quarter Ending June 2024
North America
In Q2 2024, the North American market for Polybutylene Terephthalate (PBT) demonstrated notable price stability. This equilibrium was largely attributed to balanced supply-demand dynamics, supported by consistent feedstock availability and robust production capacities. Despite global supply chain disruptions and fluctuating freight rates, PBT manufacturers successfully maintained stable output levels. Key industrial sectors, particularly automotive and electronics, exhibited steady procurement patterns, further bolstering market confidence. Additionally, stabilized upstream material prices, including butanediol and purified terephthalic acid (PTA), played a pivotal role in mitigating input cost pressures for producers, thus contributing to predictable pricing dynamics.
Focusing on the USA, which experienced overall stability, the overall trend throughout the quarter was marked by minimal volatility. Seasonality had a marginal impact, with no discernible differences between the first and second half of the quarter, maintaining a negligible change in prices. There was a slight negative shift from the same quarter last year, with a -1.2% change, and a 0% decrease compared to the previous quarter in 2024. These figures indicate a stable pricing environment, albeit with minor downward adjustments yearly.
The stable sentiment in the PBT market is further underscored by the quarter-ending price, which was assessed at USD 3353/MT FOB New York. Despite external economic conditions and logistical challenges, the PBT pricing environment in North America has remained largely stable, reflecting a balanced market outlook.
APAC
In Q2 2024, Polybutylene Terephthalate (PBT) pricing in the APAC region demonstrated a stable trend, with minimal downward changes observed in the second half of the quarter. This stability was primarily driven by reduced demand from downstream sectors such as automotive, electrical, and electronics, coupled with sufficient stock availability. Logistic disruptions and fluctuating freight rates also contributed to a decline in purchasing sentiment.
The feedstock market played a crucial role; prices for key inputs like purified terephthalic acid (PTA) and butanediol experienced minor fluctuations, which helped maintain balanced production costs and stable PBT prices. Economic uncertainties and inflationary pressures further dampened market sentiment, resulting in cautious procurement behavior among buyers.
In Japan, PBT prices displayed a stable trend throughout the quarter, reflecting steady market dynamics. The overall trend showed minor fluctuations typical of seasonal effects, with demand remaining steady during the mid-year period. This stability was aligned with broader economic conditions and consistent manufacturing activities. Compared to the same quarter last year, PBT prices in Japan fell by 7%, indicating a notable year-on-year reduction. From the previous quarter in 2024, prices remained stable, with only a 1% change, underscoring a persistent neutral sentiment.
By the end of the quarter, the price for Polybutylene Terephthalate IM Grade FOB Tokyo was USD 3033/MT, reflecting the overall balanced pricing environment. This stability, driven by various economic and market-specific factors, underscores a consistent quarter for PBT in Japan, mirroring the trends across the APAC region.
Europe
In Q2 2024, the European market for Polybutylene Terephthalate (PBT) experienced a stable period characterized by unchanged prices. Several significant factors influenced this balanced trajectory. Primarily, subdued downstream demand in key sectors such as automotive and electronics exerted downward pressure on prices. The automotive industry, in particular, faced a notable downturn, with a sharp reduction in Electric Vehicle production and overall car sales, which in turn led to lower PBT consumption. Additionally, the reduction in feedstock prices, particularly a 9% quarterly fall in BDO prices, contributed to the easing of PBT prices despite unchanged PTA prices on a month-over-month basis. The broader economic uncertainties across the Eurozone, marked by fluctuating crude oil prices and persistent inflation, further compounded the market's woes.
Focusing on Germany, the region witnessed the most balanced price changes. The overall trend during this quarter was markedly neutral, underscoring a decreasing sentiment. Seasonality did little to curb the decline as consistently low demand from downstream industries failed to uplift prices. The correlation between PBT price changes and macroeconomic challenges was evident. Compared to the same quarter last year, prices have risen by 4%, reflecting a significant year-over-year improvement. From the previous quarter in 2024, prices remained flat with a less than 1% change, highlighting a persistent stagnation in market dynamics.
Concluding the quarter, the latest price for Polybutylene Terephthalate IM Grade FOB Hamburg in Germany stood at USD 4783/MT. Overall, the pricing environment for PBT in Q2 2024 was balanced, driven by weak demand, lower feedstock costs, and broader economic challenges.
South America
In the second quarter of 2024, the Polybutylene Terephthalate (PBT) market in South America demonstrated price stability. This stability was primarily driven by balanced supply and demand dynamics, resilient manufacturing sectors, and steady feedstock costs. Despite challenges such as logistical disruptions and fluctuating raw material prices, the market-maintained equilibrium. Brazil, a key player in the region, experienced minimal fluctuations in PBT prices, staying within a narrow range. Stable demand from sectors like automotive and electronics played a crucial role in supporting this consistency.
Compared to the same quarter the previous year, the market showed a slight decrease of -1%, indicating a stable pricing environment. Quarter-on-quarter, there was no change recorded, reflecting a consistent pricing trend. Throughout the quarter, there were no significant price variations between the first and second halves, highlighting sustained price stability. The quarter concluded with Polybutylene Terephthalate CFR Santos in Brazil priced at USD 3403/MT, underscoring the prevailing stable sentiment in the market.
