For the Quarter Ending March 2023
North America
The PBT prices resulted from restricted inventory availability in the US market during the first quarter of 2023. In March 2023, the price of PBT continued to rise, owing to a progressive increase in consumer confidence in the domestic automotive and other competitive businesses in the United States. Moreover, market players opted for a reduction in the production rates in mid-March 2023 this month with an elevating feedstock BDO costs towards the end of Q1 2023. In the meantime, international PBT inquiries rose, impacting commodity price movement in the face of supply constraints. Furthermore, the significant rise in global crude oil prices at the end of March increased the input cost pressure on firms, supporting PBT prices in the US market.
APAC
Due to the slowdown in downstream automotive industry demand in the quarter ending March 2023 and limited stock availability, PBT prices showed mixed market sentiments in the first quarter of 2023. On the other hand, with a jump in crude oil prices at the end of Q1 2023 due to production cuts by OPEC along with northward feedstock BDO costs, the PBT market felt supply tightness and raised commodity prices to transmit the cost pressure to Asian consumers. To summarise, the narrowing of the demand-supply gap caused the Asian PBT price trend to remain upward overall during the quarter ending March 2023.
Europe
The European PBT price trend continued to remain on the upward side in the March 2023 quarter, with a recent price surge in March 2023. Prices surged in Germany as a result of increasing demand from the downstream sector in the region. The surge in inflation, combined with the cost-of-living crisis, put PBT consumers in financial difficulty in the mid-Q1. Meanwhile, high input cost pressure, along with a steep rise in crude oil costs across the globe, led the PBT prices to gain northward momentum this quarter. Furthermore, market participants maintained an upward price momentum in the first quarter due to muted production activity in the face of competitive market conditions and strike action by industrial workers at the termination of March 2023.
For the Quarter Ending December 2022
North America
The price of Polybutylene Terephthalate (PBT) remained steady throughout the fourth Quarter of 2022. The price of PBT was supported by the low-cost pressure from feedstock Butanediol. Due to a slowdown in the global market, there was less demand from overseas markets. The actual production of goods and services was affected by changes in the interest rate by the federal bank. Due to the market's rising interest rates, consumers stopped purchasing unnecessary goods to control their spending. The construction and automotive industries both had normal demand, and worldwide freight costs decreased. In December 2022, the price of Polybutylene Terephthalate decreased by 1%.
APAC
The price of Polybutylene Terephthalate experienced mixed price trends throughout the fourth Quarter of 2022. The electrical and electronics industries had moderate demand in the Japanese market, and domestic orders were typical. The PBT price trend in China was upward due to inquiries about the product from overseas markets, despite the low demand from domestic markets. In India, the cost of PBT decreased in December due to the traders destocking the products at lower prices. In December 2022, the FOB Tokyo price of Polybutylene Terephthalate was around USD 3076/MT.
Europe
The cost of Polybutylene Terephthalate remained stable in Q4 2022, with a negligible decline throughout the quarter. Due to high inflation and a declining buying trend in the European market, end-use industries had little demand. The production costs declined as a result of natural gas on the market decreasing because of the ample storage of gas in major EU nations. Due to low demand from the end-use industries, several businesses slowed down their production rates. At the end of the Quarter, the holidays were approaching, and producers offered to destock their products at a low price. The price of Polybutylene Terephthalate decreased by 0.7% in December 2022.
For the Quarter Ending September 2022
North America
During the third quarter of 2022, the Polybutylene Terephthalate price witnessed a decline in the North American region throughout the quarter. In the first month of Q3, the price inclined slightly due to moderate demand from the downstream automotive parts and electrical & electronics sectors. The manufacturers have quoted high prices due to the merchants' high orders. In the next two months of Q3, the price was traced southern direction, supported by feedstock Butanediol. The feedstock's sharp decrease abated the polymer industries' derivatives. The high rate of inflation has dampened demand from the PBT industries, while orders from the overseas market remained weak due to uncertainty in consumer sentiment.
APAC
The price trend of Polybutylene Terephthalate observed a downward trajectory during the third quarter of 2022. The weak demand from the downstream industries and poor buying sentiments curbed the price of PBT. The freight charges in Asia were falling with global disputes. On the supply side, the abundant product availability due to high inventory from the suppliers and weak demand from the downstream curbed the price movement in the Asian market. In Asia, the feedstock Butanediol prices decreased sharply and supported the cost of PBT's downward trend. The sluggish demand from the downstream automotive and electrical & electronics industries further declined the price in the Asian market. In Japan, the decrease in product consumption and inventories was observed to surge, and traders and suppliers stockpiled the product in the market throughout the quarter.
Europe
During the third quarter of 2022, the cost of Polybutylene Terephthalate declined in the German market due to weak cost pressure from feedstock Butanediol. The high inventories from the manufacturers and abundant availability of the product constrained the price hike in the market. The buying sentiments from the purchasers were dull and weak in demand from the other European countries. Traders stockpiled the product due to its high availability amidst low demand in the market. Due to increased natural gas prices and additional utility costs in the European region, consumers were hesitant to purchase the product, and a bearish trend occurred in Europe. Due to the product's high availability in the market, the manufacturers have quoted an offer price to sell it.
For the Quarter Ending June 2022
North America
The North American market saw a surge in the prices of Polybutylene Terephthalate during Q2, 2022, with costs ranging at USD 3325/ton Polybutylene Terephthalate FOB New York during June as per recorded by Chem Analyst pricing team data and a quarterly escalation of 2.1%. PBT is slated to take care of its high relevance and popularity across various industrial applications. The polymer is enjoying lucrative growth opportunities within the automotive industry owing to the increasing focus of automakers on lightweight, high-resistance, cost-effective and low-maintenance materials. This led to decreased inventories with the traders in the region and lower product stockpiling within the market.
Asia
Polybutylene Terephthalate (PBT) prices fell in the Asian market during the second quarter of 2022, with prices hovering around INR 2,68,367/ton. Polybutylene Terephthalate IV 1.2 IM Ex-Ahmedabad in the Indian market with a quarterly decline of 2.9% as recorded by Chem Analyst pricing team data. In recent months, buyers have been able to negotiate down some of the highest offers from suppliers due to a better supply picture. For many people, an abundance of goods persists, such as specific types and compounds, due to the extensive availability of additives, including flame retardants and optical fibers. While supply has improved from the critical shortages, the market is far from balanced. The fluctuating freight costs and disruption causing lead times reduced imports, keeping availability less than before the pandemic.
Europe
The prices of Polybutylene Terephthalate surged in the European market, with prices ranging from USD 4754/ton Polybutylene Terephthalate FOB Hamburg in Germany during May and a quarterly escalation of 7.2% as per recorded by Chem Analyst pricing team data. The surge in global freight charges due to the ongoing war between Russia and Ukraine pulled the prices upward, putting pressure on the costs of the products. The demand from the downstream automotive and electronic sectors increased substantially, and BASF announced escalating PBT prices. Escalating prices of upstream feedstock Terephthalic Acid and 1,4-Butanediol due to fluctuating prices of the petrochemicals market.
Prices of Polybutylene Terephthalate (PBT) remained in the narrow range during the first quarter in the North American region. The demand from the downstream automotive and electronics sector remained depressed throughout the quarter, due to which PBT prices dropped by 7%, especially in February. Feed Purified Terephthalic Acid (PTA) prices increased during first half and diminished in the second half of the first quarter. However, feed Butanediol prices increased continuously in the US market. Prices were accessed at USD 2340 per tonne on FOB basis at New York in North America by the end of February, witnessing a decrement of 10% in the values from the last quarter of 2021.
Prices of Polybutylene Terephthalate dropped initially during Q1 and recovered during March in China, following the price trend of feed Butanediol. PBT prices settled at USD 2405 per tonne at the end of the quarter in the Chinese market. The feed PTA values increased in the Chinese market during Q1. Prices remained firm in the Indian market during the first two months amidst the stable demand from the automotive sector. The demand dropped in March after disrupted supply chain due to the war between Ukraine and Russia. However, feed Butanediol and PTA prices steadily increased during Q1.
Prices of Polybutylene Terephthalate were stable to firm till first half of the quarter. The feed PTA prices dropped in January and rose in March. PBT prices in Europe fluctuated in the range between USD 2600-2900 per MT in Q1-2022. The demand from the downstream automotive and electronics sector remained stable throughout the period. Limited supply of feedstock impacted the production rates towards the end of Q1. Shortage of crude oil during the second half of Q1 due to war in the East European region caused limited supplies of raw material which increased the production cost of PBT in the market towards the end of the quarter.
