For the Quarter Ending June 2025
North America
• The Price Index for Polycarbonate in the U.S. experienced steady downward pressure throughout Q2 2025, with cumulative weakness observed across April, May, and June.
• Inbound shipments surged during the quarter, with a 1.8% increase in overall imports, especially from Southeast Asia, notably Vietnam, contributing to market oversupply.
• Improved throughput at key ports, with Los Angeles (+29.1%) and Long Beach (+18.8%), facilitated faster resin inflow and intensified domestic competition.
• A 2.6% drop in Drewry’s World Container Index reduced import costs, lowering the competitive pricing threshold for overseas sellers.
• Despite stable production and manageable feedstock costs like Bisphenol A, local sellers faced margin compression due to elevated inventories and aggressive offshore offers.
• The Polycarbonate Demand Outlook deteriorated in Q2, as auto sales cooled, and sectors such as furniture, electronics, and appliances showed cautious procurement behaviour.
• Buyers continued destocking amid expectations of sluggish summer demand, further softening market momentum.
Why did the price of Polycarbonate change in July 2025 in North America?
The 1% drop in the Price Index during July was driven by persistent oversupply, reduced freight rates, and muted demand from downstream sectors such as automotive and consumer goods.
Asia
• Throughout Q2 2025, the Price Index for Polycarbonate in Thailand remained relatively stable despite fluctuating freight conditions across the Asian market.
• Scheduled maintenance at Lotte Chemical’s Yeosu facility in South Korea removed over 17,500 tons/year, tightening the availability of high-grade PC in the region.
• Chinese exports remained steady, offsetting any significant shortages and maintaining Polycarbonate Spot Price stability.
• Thailand's EV sector, supported by ongoing government subsidies and foreign investment, boosted engineering plastics consumption in Q2.
• However, demand from electronics and appliances industries remained weak due to ongoing macroeconomic headwinds.
• Inventory levels remained well-managed due to contract-based procurement, which discouraged speculative or forward buying.
Why did the price change in July 2025 in Asia?
Prices stayed stable in July as healthy demand from the EV sector counterbalanced softness in electronics, while regional supply tightened due to maintenance-related outages.
Europe
• The Price Index for Polycarbonate in Germany steadily declined during Q2 2025, driven by growing oversupply and tepid summer-season demand.
• Logistics operations improved at major ports such as Hamburg and Bremerhaven, enhancing distribution efficiency without adding significant cost burdens.
• Lower energy and feedstock costs kept the Polycarbonate Production Cost Trend stable, although they failed to support pricing gains.
• Inventory levels remained high, partly due to early-quarter stockpiling and limited restocking by downstream converters.
• The Polycarbonate Demand Outlook stayed weak, with sluggish production across automotive and electronics segments and widespread adoption of just-in-time procurement strategies in anticipation of the summer slowdown.
Why did the price change in July 2025 in Europe?
The 1.3% decline in July's Price Index was due to continued inventory overhang, fragile downstream demand, and squeezed producer margins limiting their ability to maintain prices.
South America
• In Q2 2025, the Price Index for Polycarbonate in Brazil showed signs of pressure due to fragile downstream recovery and increased global trade activity.
• U.S. cargoes continued to dominate imports with over 35% market share in April, helping maintain steady resin availability despite rising freight charges globally.
• The narrowing price gap between imported and domestic PC pushed more buyers toward local sources, further stabilizing inventory levels.
• Although the Polycarbonate Production Cost Trend stayed relatively flat, logistical disruptions in the Red Sea affected shipping schedules and delivery timelines.
• On the demand side, the Polycarbonate Demand Outlook weakened as Brazilian auto production dropped 6.5% in June, stifling demand for engineering resins.
• Market participants hesitated to replenish inventories amid economic uncertainty, opting for minimal forward purchases.
Why did the price change in July 2025 in South America?
The 1% fall in the Price Index stemmed from continued softness in demand from auto and electronics sectors and sustained import competition that prevented any price rebound.
Saudi Arabia
• The Price Index for Polycarbonate Injection Grade FOB Jeddah remained largely stable throughout Q2 2025, supported by consistent production, efficient feedstock supply, and subdued but steady demand.
• Despite short-term bearish signals in May, the overall market environment was balanced, with no major supply disruptions across key industrial hubs like Yanbu and Jubail.
• Market sentiment was cautiously optimistic, underpinned by Vision 2030-driven infrastructure investments and strong private sector indicators.
• Polycarbonate Spot Price stayed flat as export demand from Egypt and UAE remained stable, while domestic end-use consumption from non-oil sectors gradually picked up.
• Feedstock availability was adequate; Bisphenol A (BPA) and phenol input prices showed little fluctuation, helping stabilize the Polycarbonate Production Cost Trend.
• Price correction was triggered by weak export demand (particularly from Asia and North Africa) and rising domestic inventory levels.
• Steady domestic output and soft overseas inquiries prompted competitive price adjustments as suppliers aimed to stimulate offtake.
• Despite steady run rates, demand from construction and electronics sectors weakened amid peak seasonal heat and global caution.
• Export offers were stable, though demand from Asia and Africa stayed subdued due to monsoons and sufficient inventories.
• Week ending June 6 summary: Prices held steady due to firm offtake from Tier-1 suppliers and competitive regional offers despite global freight volatility.
Why Did the Price Change in July 2025 in Saudi Arabia?
• In July 2025, Polycarbonate Injection Grade FOB Jeddah prices rose by 1.0%, attributed to:
• Lower stock levels after May’s inventory drawdown.
• Seasonal demand rebound from construction and automotive segments.
• Stable upstream costs enabling modest pricing confidence.
• Anticipated Q3 procurement cycles for infrastructure under Vision 2030, which lifted sentiment.
For the Quarter Ending March 2025
North America
In Q1 2025, Polycarbonate (PC) Injection Grade prices in North America exhibited a marginally decreasing trend, driven by consistent supply levels and tepid downstream demand. Prices began the quarter in January, remaining stable due to balanced market fundamentals and moderate demand from the automotive and electronics sectors. However, as the quarter progressed, demand faltered slightly particularly in the construction and export markets prompting price corrections in February and March.
By the end of March, prices had softened to approximately USD 1980/MT, reflecting an overall quarterly decline of around 1.5%. Contributing factors included cautious procurement behavior amid economic uncertainties, steady production rates, and minimal fluctuations in upstream Bisphenol A (BPA) costs. The influx of competitively priced imports from Asia and stable logistics conditions also played a role in limiting upward price movement.
Despite moments of stability in February and early March, softening export demand and swelling inventories ultimately weighed on market sentiment. Barring major feedstock disruptions, Polycarbonate prices in the U.S. are expected to remain under mild pressure in the near term.
Asia
During Q1 2025, Polycarbonate (PC) prices in the Asian market followed a downward trajectory, primarily driven by a persistent supply-demand imbalance. Prices slipped from USD 1832/MT in late January to USD 1755/MT by the end of March, reflecting a cumulative drop of over 4%. Despite steady production and plant turnarounds in March and early April, domestic operating rates averaged above 80%, resulting in elevated inventory levels and sluggish factory auctions. The cost support from feedstock Bisphenol A (BPA) remained weak, further pressuring producers to lower offers. On the demand side, procurement from key downstream sectors such as automotive and electronics remained minimal, with buyers cautious amid high inventories and slow market circulation. Stabilized prices in February gave way to successive declines in March, triggered by slow post-holiday recovery and lackluster order flows. This bearish sentiment persisted into April, reinforcing market softness. Looking ahead, any potential recovery will hinge on stronger end-use demand or substantial supply corrections, which appear limited in the near term. Overall, Q1 2025 was marked by soft fundamentals, reinforcing a bearish price trend for Polycarbonate in Asia.
Europe
Polycarbonate prices in Europe exhibited a bearish trend throughout Q1 2025. Prices remained largely stable during January and early February, supported by balanced supply-demand fundamentals, consistent procurement from downstream sectors, and minimal feedstock volatility. However, by mid-to-late February, signs of market weakness emerged as demand from the automotive and electronics sectors softened, and energy cost relief further pressured margins. In March, the downtrend accelerated with PC prices falling nearly 3.5% from early to late March, driven by tepid demand, excess inventory levels, and weakening feedstock Bisphenol A costs. Despite logistical constraints in early March providing brief support, high interest rates and cautious restocking sentiment kept buyer activity subdued. The bearish momentum persisted into early April, with prices dropping another 2.4% amid ample supply and limited export interest. Overall, the PC market in Germany faced a challenging Q1 2025, weighed down by persistent macroeconomic headwinds, high inventories, and muted downstream demand, setting the stage for continued price softness in the near term.
Middle East Asia
Polycarbonate (PC) prices in Saudi Arabia witnessed a moderate but consistent downward trend throughout Q1 2025. Prices declined from USD 1735/MT in mid-January to USD 1648/MT by the end of March, reflecting an overall quarterly drop of approximately 5%. The decline was driven primarily by weak downstream demand from the automotive and construction sectors amid ongoing global economic uncertainty. Although supply remained steady with uninterrupted domestic production and stable imports from Asia, elevated inventory levels and subdued procurement activity exerted persistent pressure on prices. Feedstock Bisphenol A costs also softened slightly, offering limited cost support. While short-term price stability was observed during February and early March due to balanced supply-demand dynamics, sluggish buying interest and competitive import offers from Asian markets ultimately led to price corrections by the end of the quarter. Despite this bearish trajectory, infrastructure projects under Vision 2030 continued to provide a cushion for baseline demand.
South America
During the first quarter of 2025, polycarbonate (PC) prices in Brazil exhibited a marginal downward trend amid mixed market fundamentals. Prices held largely stable throughout January and February, averaging around USD 1970/MT CFR Santos, supported by balanced supply-demand dynamics, stable feedstock costs, and consistent imports from Asia and North America. However, sluggish demand from the automotive and construction sectors, attributed to high interest rates and inflationary pressures capped any upward price momentum. By March, sentiment began to soften, with prices gradually edging down by the end of the quarter. Ample inventory levels, steady inflows from South Korea and the U.S., and weak procurement activity amid a cautious macroeconomic outlook collectively pressured prices. While domestic production remained steady and logistics showed improvement, subdued downstream offtake, particularly in the automotive and consumer goods segments, contributed to the bearish pricing sentiment. Overall, Q1 2025 concluded with a marginal decrease in Brazilian polycarbonate prices, reflecting cautious market behavior, sufficient supply, and restrained demand recovery in key end-use industries.
For the Quarter Ending December 2024
North America
Polycarbonate (PC) prices in North America remained stable throughout Q4 2024, supported by steady demand and balanced supply dynamics. In the USA, automotive demand, a key driver for PC consumption, showed robust growth, with vehicle sales rising 2.8% month-over-month and 9.8% year-over-year in November. This uptick bolstered demand for Polycarbonate in applications such as interior panels and bumpers.
Manufacturing costs eased during the quarter due to a decline in crude oil prices, with Brent crude falling to USD 75.29 per barrel by early November. Bisphenol A, a critical feedstock for Polycarbonate, also exhibited stable pricing, mitigating production cost pressures. However, potential logistical disruptions, including East Coast port delays and ongoing negotiations over U.S. rail labor contracts, raised concerns over supply continuity.
Despite seasonal factors such as year-end holidays and adverse weather conditions, inventory levels at U.S. ports exceeded expectations, ensuring sufficient market supply. Producers adjusted output to match slower demand during December, while stable freight rates and potential anti-dumping duties on imports from South Korea and Taiwan provided further support to the market. Looking forward, strong automotive performance and stable supply chains are expected to sustain Polycarbonate price stability into early 2025.
Asia
The Polycarbonate (PC) market in the Asia-Pacific region witnessed a marginal decline in prices during Q4 2024 due to persistent supply-demand imbalances. Despite stable production levels, oversupply remained a challenge, particularly in China, where inventory levels were high. Maintenance shutdowns at key facilities such as Cangzhou Dahua and Jiaxing Teijin marginally reduced operating rates but were insufficient to alleviate the saturated market conditions. Raw material costs, including Bisphenol A, remained stable throughout the quarter, providing cost support to producers. However, high stock levels and weak procurement activity from downstream sectors, particularly automotive and electronics, limited price recovery. Buyers adopted a cautious approach amid economic uncertainties and slow-moving orders, leading to subdued demand. Despite government subsidies boosting demand for household appliances and a modest improvement in export activities, overall consumption patterns remained sluggish. Price reductions aimed at stimulating orders proved largely ineffective. As the quarter ended, cautious buyer behavior and abundant supply continued to weigh on market sentiment. The Polycarbonate market is expected to remain under pressure into early 2025, with no significant recovery in sight.
Europe
The European Polycarbonate (PC) market experienced a declining price trend in Q4 2024, driven by subdued demand and fluctuating supply dynamics. In Germany, a key market, prices initially stabilized in November due to steady domestic production and balanced Bisphenol A feedstock costs. However, challenges in the automotive sector, a major consumer of Polycarbonate, weighed heavily on demand. Weak sales of electric vehicles and operational cutbacks at key automakers like Volkswagen and Stellantis further dampened the outlook. Supply-side pressures intensified with logistical disruptions at Hamburg’s Container Terminal Altenwerder and broader shipping delays. Despite maintenance at production facilities and reduced end-year operating rates, high inventory levels limited upward price adjustments. Additionally, rising production costs fueled by inflation in the Eurozone added to manufacturers' challenges. By December, the market remained subdued, with stable supply and cautious purchasing behavior among downstream users. Automotive recovery in late December and consistent demand from the electronics and appliance sectors provided limited support. Anti-dumping measures on South Korean and Taiwanese imports may enhance European competitiveness in 2025.
Middle East Asia
Polycarbonate prices in the Middle East Asia region exhibited a steady decline in Q4 2024, influenced by supply chain disruptions and fluctuating demand dynamics. In Saudi Arabia, prices initially stabilized in November, supported by adequate supply, stable Bisphenol A feedstock costs, and declining crude oil prices. However, geopolitical tensions in the Red Sea, including vessel attacks and port congestion, significantly impacted logistics, leading to increased shipping costs and emergency surcharges for importers. Demand for Polycarbonate remained steady in key sectors, particularly construction, bolstered by Vision 2030 projects like the Jeddah Tower. However, inflationary pressures and labor shortages affected project timelines, potentially tempering long-term demand. The automotive sector, a secondary consumer, saw balanced activity, reflecting regional economic stability. By December, improved port operations at Yanbu and Al Jubail ports eased logistical bottlenecks, stabilizing Polycarbonate prices. Declining Bisphenol A costs and reduced production rates due to seasonal slowdowns further influenced the market. Robust non-oil activities and steady export traffic underpinned regional demand, despite global trade uncertainties.
South America
Polycarbonate prices in South America, particularly in Brazil, displayed a steady decline during Q4 2024, driven by supply chain challenges, fluctuating demand, and economic pressures. Early in the quarter, prices stabilized as balanced domestic production and imports offset logistical disruptions caused by a customs strike at major ports like Santos. Although rising freight costs and oil prices added supply-side pressure, local producers managed to maintain market equilibrium. Demand dynamics were mixed throughout the quarter. The automotive sector, a key consumer of Polycarbonate, demonstrated strong performance, with domestic car sales and production reaching record highs. Electric vehicle production surged, driven by market leaders such as BYD and GWM. However, increasing reliance on imported components and subdued export performance tempered broader demand growth. Inflationary pressures and rising logistics costs further constrained purchasing power, limiting potential price rebounds. By late December, logistical challenges, including port congestion and elevated freight rates, along with rising oil prices, pushed up production costs, contributing to a modest price increase. Despite these challenges, the robust automotive sector and steady construction demand provided a strong foundation for Polycarbonate consumption, ensuring a relatively stable yet cautious market environment throughout the quarter.
For the Quarter Ending September 2024
North America
The third quarter of 2024 has been challenging for the Polycarbonate market in North America, marked by a significant decrease in prices. Several factors have influenced this downturn in the third quarter of the year. The persistent low demand from key industries such as automotive and construction has played a crucial role in driving prices down. Additionally, high freight rates and increased imports have contributed to the bearish trend.
In Mexico, where the most substantial price changes have been observed, market dynamics have been heavily impacted. The decrease this quarter reflected the ongoing challenges faced by the industry. Furthermore, the -18% change from the previous quarter in 2024 highlights the continued downward trajectory. The comparison between the first and second half of the quarter, showing a 5.5% decrease, further emphasizes the negative trend.
The latest quarter-ending price of USD 2130/MT of Polycarbonate GP Grade CFR Veracruz in Mexico signifies the prevailing decrease in prices. Overall, the pricing environment has been predominantly negative, with stability remaining elusive.
Asia
The third quarter of 2024 has seen a significant decline in Polycarbonate prices across the APAC region, influenced by various factors. Market dynamics such as decreased demand in key industries like automotive and construction, disruptions in the global supply chain due to natural disasters, and the overall deflationary trend have all contributed to the downward pressure on prices. Japan, in particular, has experienced the most notable price changes during this period. The overall trend in Japan reflects a consistent decrease in prices, with a correlation between decreased demand and lowered pricing. Compared to the previous quarter in 2024, prices have dropped by 1%, with a further 1% decrease noted in the second half of the quarter. The quarter-ending price for Polycarbonate GP Grade FOB Tokyo in Japan stands at USD 2115/MT, highlighting the persistently negative pricing environment in the region. Global ocean freight rates from Asia eased in early September as the peak shipping season came to an end. A similar trend is seen in the Mediterranean, where rates have fallen. Port congestion in East Asia remained a significant issue, although better transshipment practices helped to manage waiting times. Overall, the slight decrease in ocean freight rates suggested a potential market shift as peak season demand wanes.
Europe
In Q3 2024, the European Polycarbonate market experienced a significant decline in prices. This downward trend was further emphasized by a -15% decrease from the previous quarter in 2024. The market saw a continuous negative trend, with a -5% change between the first and second half of the quarter. Various factors contributed to the declining prices, including persistently low demand from the automotive sector, leading to oversupply and reduced production rates. The market also faced challenges such as reduced consumption, increased freight rates, and sluggish economic growth, all impacting the pricing environment negatively. Germany, as a key player in the market, experienced the most significant price changes, reflecting the overall bearish sentiment. The latest quarter-ending price for Polycarbonate GP Grade FD Hamburg in Germany stood at USD 2285/MT, indicating a challenging period for the industry characterized by decreasing prices and uncertain market conditions. This decline was further supported by the steady prices of feedstock Bisphenol A, which helped stabilize production costs during this time frame.
Middle East Asia
In the third quarter of 2024, the Polycarbonate market in the MEA region witnessed a significant downturn in prices, influenced by various factors. The Polycarbonate market experienced a challenging quarter. The decline of 1% from the previous quarter further accentuated the downward trend. Key factors impacting prices included weakened demand from the automotive sector, low-cost supplies, and reduced upstream cost pressures. Additionally, a persistent downturn in the futures market and an imbalance between supply and demand exerted pressure on prices. Saudi Arabia, in particular, saw the most significant price changes, with prices declining by 1% from the first half to the second half of the quarter. The quarter-ending price for Polycarbonate GP Grade FOB Jeddah in Saudi Arabia stood at USD 1835/MT, reflecting the prevailing negative pricing environment in the region. Despite some fluctuations, the overall trend in Q3 indicated a consistent decrease in Polycarbonate prices in the MEA region. The upstream Crude oil prices declined as the halting of production and exports was viewed by market participants as a short-term disruption rather than a prolonged interruption.
South America
Throughout Q3 2024, the South America region experienced a significant decline in Polycarbonate prices, with Brazil being the most affected. This quarter saw a negative trend in prices, influenced by various factors. The persistent oversupply of Polycarbonate in the market, coupled with weakened demand from key industries like construction and automotive, led to a downward pressure on prices. Cargoes continued to enter the Mexican market despite highway insecurities, leading to longer lead times for deliveries. Additionally, arbitrage opportunities from Asia and the Middle East kept supplies ample in the market. Bisphenol A, a key feedstock for Polycarbonate, also experienced a stable market situation, contributing to consistent production costs and further stabilizing prices. Additionally, the impact of external factors such as fluctuating global freight rates and currency depreciation contributed to the negative price trend. In Brazil specifically, the pricing environment was characterized by a consistent decrease in Polycarbonate prices. The quarter recorded a notable 19% decline from the previous quarter in 2024. The first half of the quarter saw a 5.9% price difference compared to the second half, indicating a continuous downward trajectory. The quarter-ending price for Polycarbonate GP Grade CFR Santos in Brazil stood at USD 2010/MT, reflecting the prevailing negative sentiment in the market.
FAQs
1. What is the current price trend of Polycarbonate in North America?
The Price Index for Polycarbonate in North America declined by 1% in July 2025 due to weak downstream demand and higher imports.
2. Who are the top Polycarbonate producers in Asia?
Key producers include Lotte Chemical (South Korea), Covestro (Thailand), and Teijin (Japan), with regional exports influenced by scheduled maintenance and logistics.
3. What is the Polycarbonate Demand Outlook for H2 2025?
The demand outlook remains cautious across all regions, with subdued momentum in automotive and electronics but potential resilience from EV and infrastructure sectors.
4. Why did Polycarbonate prices decrease in July 2025 across most regions?
The July 2025 price decline was attributed to a combination of oversupply, high inventory levels, weak downstream demand, and improved freight dynamics in North America, Europe, and South America.
