For the Quarter Ending June 2025
APAC
• The Price Index for Polyimide Spot Price fell sharply—down from USD 23000/MT (April) to USD 21400/MT (FOB Qingdao) by June.
• Despite strong automotive and high-tech demand, intense supply-side competition, rising inventories, and stable input costs pushed the soft pricing trend.
• The Polyimide Price Forecast suggests continued mild softness into Q3, leveling off as demand and supply rebalance.
• Why did the price change in July 2025? In July 2025, the Price Index decreased further, albeit at a reduced rate, as downstream hesitancy and elevated stock levels persisted, even as demand improved in EV and aerospace applications.
• The Polyimide Production Cost Trend remained stable. Feedstock prices and manufacturing input costs (e.g. precursor monomers, energy) did not rise significantly. Domestic producers absorbed margin pressure while clearing inventory.
• The Polyimide Demand Outlook remains cautiously optimistic. Automotive and NEV-related demand continues robust, but broader uptake in electronics and aerospace remains moderate. Demand growth may improve if inventory digestion supports restocking.
Europe
• The Price Index for Polyimide fluctuated through Q2 2025, with softening price support amid mixed demand from electronics and automotive sectors. Import competition and logistics volatility added to pricing uncertainty.
• Why did the price change in July 2025? In July 2025, the Price Index likely decreased modestly, as European tyre tiers and tyrene industrial users tread cautiously amid weak OEM orders and subdued restocking by processors.
• Production Cost Trend: The Polyimide Production Cost Trend stayed relatively flat. Rising logistics and compliance costs offset mild raw material relief, but upstream cost volatility remained contained.
• The Polyimide Demand Outlook is subdued to steady. Demand from high-performance applications such as aerospace and e-mobility are supportive, but broader chemical and compound segments await recovery in industrial and consumer electronics.
North America
• North American Price Index for Polyimide showed a modest downward trend across Q2 2025, mirroring global softness and cautious buyer sentiment in varied application markets.
• Why did the price change in July 2025? In July 2025, the Price Index likely edged lower, as downstream players delayed procurement amid inventory normalization and uncertainty in EV/semiconductor-linked demand.
• Production Cost Trend: The Polyimide Production Cost Trend remained stable, with moderate feedstock pricing and manufacturing costs. No significant disruptions occurred in precursor supply chains.
• The Polyimide Demand Outlook points to measured appreciation, dependent on recovery in high-tech manufacturing, EV-related growth, and overall industrial momentum.
For the Quarter Ending March 2025
North America
In Q1 2025, the North American polyimide market experienced fluctuating prices, influenced by sectoral demands and economic conditions. January saw a modest price increase due to steady demand from the aerospace and electronics sectors. However, February witnessed a slight dip as construction activity remained subdued, impacted by high mortgage rates and cautious investor sentiment. March brought renewed price pressures, driven by rising raw material costs and supply chain disruptions.
The automotive sector's performance notably impacted polyimide demand. While overall vehicle sales showed a modest uptick, the electric vehicle (EV) segment, which heavily relies on polyimide for battery insulation and electronic components, faced challenges due to economic uncertainties and reduced consumer confidence. This tempered the demand growth for polyimide in automotive applications.
In the construction sector, activity remained subdued, with high interest rates and material costs dampening new projects. This stagnation limited demand growth for polyimide in construction-related applications. Overall, the North American polyimide market navigated a complex interplay of sectoral performances and economic policies, leading to a dynamic pricing environment.
Asia
The APAC polyimide market in Q1 2025 is characterized by steady supply conditions and moderate demand growth, underpinned by robust manufacturing activity and expanding automotive sectors, particularly in new energy vehicles. Despite stable production and raw material availability, competitive pressures and improved efficiencies have tempered price momentum. Market sentiment remains cautiously optimistic, with inventory levels sufficient to meet demand, and a slight easing in pricing anticipated as the quarter progresses. In China, polyimide prices increased by 2.13% from Q4 2024 to an average of 24,813 USD/MT in Q1 2025, exhibiting a relatively flat intra-quarter trend. This stability reflects balanced supply and demand dynamics, supported by steady domestic production and strong automotive sector performance. Competitive pricing and efficient manufacturing have moderated price gains, resulting in a broadly stable market outlook with a near-term expectation of continued ample availability exerting downward pressure.
Europe
During Q1 2025, Europe's polyimide market experienced price fluctuations influenced by sectoral demands and economic conditions. January witnessed price increases due to tight supply and robust demand from the electronics and aerospace industries. February saw stabilization as supply chains improved, but March brought renewed price pressures from rising energy costs and feedstock availability concerns.
The construction sector showed signs of recovery, with EUROFER forecasting a 1.1% growth in 2025 after years of decline. This resurgence, supported by EU funding and infrastructure projects, bolstered demand for polyimide in construction-related applications.
Conversely, the automotive sector faced challenges. Volvo announced significant job cuts amid declining sales and revenues, citing unprecedented industry challenges. These difficulties in the automotive industry tempered demand for polyimide derivatives used in vehicle manufacturing.
Overall, Europe's polyimide market in Q1 2025 was shaped by a recovering construction sector and a struggling automotive industry, leading to a nuanced pricing landscape influenced by varying sectoral demands and economic factors.
For the Quarter Ending December 2024
North American
In the USA, Polyimide prices in Q4 2024 followed a similar pattern to Europe, showing seasonal fluctuations influenced by demand and supply dynamics. In December, prices were relatively stable, but weak demand from the automotive and electronics sectors kept any significant growth in check.
The manufacturing sector's slowdown in the U.S. led to moderate demand, especially in the construction and electronics markets. However, the stable production of Polyimide and steady feedstock costs provided some balance, mitigating larger price declines. In November, prices rose slightly by about 2%, largely due to steady demand from the high-performance manufacturing sector, particularly in NEV applications.
Despite rising competition and manufacturing cost pressures, there was moderate support from increased activity in key industrial sectors. By October, Polyimide prices had risen by 3.5% as automotive production and high-tech sectors saw continued growth, particularly driven by the expanding electric vehicle market. Seasonal trends in the U.S. suggest a stable start to 2025, with ongoing pressures from supply chain constraints and inflation, though the outlook remains cautiously optimistic for gradual price growth and demand recovery in the first half of the year.
APAC
In Q4 2024, Polyimide prices in China saw fluctuations influenced by various demand and supply dynamics. In December, prices declined by 1.4%, driven by a steady supply of material and stable domestic production. The strong performance of China’s automotive sector, particularly in New Energy Vehicles (NEVs), provided ongoing demand support, though competition and improved production efficiency led to a price reduction. Meanwhile, methanol price increases, influenced by Methanex's contract price adjustments, are expected to affect Polyimide production costs, although the overall market remains stable with moderate demand from high-tech industries. In November, Polyimide prices rose by 2% due to robust demand from high-tech industries, particularly the automotive sector, where the growing NEV market drove significant consumption. Supply faced constraints due to the limited availability of precursor materials, but strategic partnerships ensured a steady flow for critical applications in electronics and automotive sectors. In October, Polyimide prices rose by 3.5%, fueled by high demand in the automotive and electronics sectors, as well as increased investments in China's high-tech manufacturing. These market conditions point to continued growth and investment in Polyimide for the coming year, particularly in the NEV sector.
Europe
In Q4 2024, Polyimide prices in Europe saw fluctuations primarily driven by seasonal demand variations and supply chain dynamics. In December, prices experienced a decline due to reduced demand from the automotive sector and slower growth in high-tech industries. The impact of global economic uncertainties, including weak demand in Europe’s key markets and supply chain disruptions, contributed to the downward price pressure. While the automotive sector, especially in the NEV segment, supported some stability, it was not enough to offset overall market weakness. Additionally, increased competition and price pressure from domestic manufacturers, along with limited availability of precursor materials, added to the decline. During November, Polyimide prices saw a slight increase of around 2%, driven by moderate demand from key sectors like automotive and electronics. The winter slowdown, typical in European manufacturing, coupled with constrained supply, led to a tightening in the market. October saw a 3.5% price rise due to higher demand, particularly from the NEV market, as well as investments in high-tech manufacturing. However, the European market’s seasonal trends suggest that the first quarter of 2025 may see a gradual recovery, with price stability likely to depend on economic conditions and supply chain adjustments.
For the Quarter Ending September 2024
North America
During Q3 2024, Polyimide prices fluctuated slightly, reflecting the interplay of multiple market factors. The U.S. economy demonstrated both strengths and weaknesses, managing to maintain stability despite concerns about inflation and geopolitical uncertainties.
Supply dynamics were shaped by steady manufacturing activities and shifting trade environments. A marginal drop in the Producer Price Index (PPI) for manufacturing—from 249.624 in Q2 to 248.383 in Q3—highlighted minor cost reductions for producers. Restocking of depleted inventories contributed to a recovery in GDP, with Q2 growth recorded at 3.0% and projected to reach 2.7% for the year. Strong consumer spending and business investments, supported by policies such as the CHIPS Act, sustained demand as inflation fell below 3.0% in July.
However, geopolitical conflicts, including tensions in Ukraine and the Middle East, and potential trade tariffs created risks for supply chains. While the Fed’s anticipated rate cuts are expected to stimulate economic activity, shifts in labor markets and uncertainties in trade could challenge supply stability through 2025.
Asia
Throughout Q3 2024, the APAC region witnessed a notable surge in Polyimide prices, with China experiencing the most significant price fluctuations. Various factors contributed to this price increase, including supply chain disruptions caused by geopolitical tensions, strong demand from sectors like automotive and electronics, and stable raw material costs. The market also saw disruptions in production due to extreme weather conditions and plant shutdowns, further tightening supply and boosting prices. China, in particular, observed a 9% increase in Polyimide prices from the previous quarter, highlighting a bullish trend in the market. The quarter also displayed a 10% price gap between the first and second halves, indicating a steady upward trajectory. Despite global economic challenges, the demand for Polyimide remained resilient, driven by seasonal factors and increased industrial activity. The quarter concluded with Polyimide resin powder priced at USD 23278/MT FOB Qingdao in China, reflecting a positive pricing environment characterized by consistent price growth and market stability.
Europe
In Q3 2024, European Polyimide prices remained volatile within a narrow range, primarily driven by global economic uncertainties stemming from geopolitical tensions in West Asia and sluggish economic performance in both Europe and the U.S. Freight costs soared, with MSC and CMA CGM imposing FAK rates up to $6,500 per container due to limited space and added surcharges. Delays caused by Red Sea disruptions and congestion at Singapore's ports slowed shipments further. Meanwhile, air freight rates from Northeast Asia surged, with spot rates jumping 40% year-over-year due to heightened e-commerce activity and semiconductor demand. Despite increased capacity, logistical imbalances persisted. Looking ahead, the freight market is expected to remain turbulent in Q4. On the economic front, Germany’s industrial sector suffered a downturn, with weak production, high energy prices, and low export demand, adding pressure to the broader eurozone economy.
Frequently Asked Questions (FAQs)
1. What is the current price of Polyimide?
o As of June 2025, the Polyimide Spot Price in China (FOB Qingdao) was approximately 21400 USD/tonne.
2. How is the global market situation of Polyimide?
o The global Price Index shows pressure across Asia, Europe, and North America, with overall cautious sentiment due to demand-Supply imbalance and competitive pricing.
3. What is the Polyimide Production Cost Trend?
o The Polyimide Production Cost Trend remained steady with no major feedstock or energy cost spikes. Stable input costs limited manufacturer pricing flexibility.
4. What is the Polyimide Demand Outlook?
o The Polyimide Demand Outlook is cautiously positive—supported by automotive EV and high-tech applications—but overall demand remains moderate until broader industrial recovery materializes.
