For the Quarter Ending March 2025
North America
Throughout Q1 2025, the Poly Tetra Methylene Ether Glycol (PTMEG) market in North America saw consistent price declines, primarily driven by weak downstream demand and persistent oversupply. In January, prices remained mostly weak as the holiday season suppressed industrial activity, and the spandex sector struggled with excess inventory and low procurement. A cold snap along the Gulf Coast further disrupted logistics and market momentum.
February brought additional pressure as declining consumer confidence, reduced household spending, and new tariffs on Chinese raw material imports weighed heavily on the textile industry. Despite stable feedstock THF prices, elevated stock levels and minimal bulk purchases limited any chance of recovery.
In March, PTMEG prices continued to slip as export volumes of textiles and apparel fell sharply, particularly to Latin American and Asian markets. While U.S. manufacturing activity showed mild improvement, spandex demand remained subdued. Persistent trade uncertainty, cautious procurement, and global competition maintained a bearish sentiment, keeping prices under pressure across the quarter. PTMEG prices in the U.S. closed Q1 2025 at USD 2,215/MT DEL Texas.
APAC
Throughout Q1 2025, the PTMEG market in the Asia-Pacific (APAC) region witnessed a continuous decline in prices, driven by persistent oversupply and weak demand from downstream sectors, particularly spandex. In January, prices fluctuated slightly but remained under pressure due to high inventories and subdued buyer sentiment ahead of the Lunar New Year. Although some cost support emerged from feedstock THF, reduced operations at spandex factories and weak domestic offtake hindered any sustained price increase. February saw continued downward pressure as market activity remained slow after a post-holiday. Ongoing capacity expansions and minimal export momentum intensified price competition, with weak textile and apparel demand further limiting PTMEG consumption. In March, while spandex plant utilization rose moderately, excessive PTMEG supply and weak export growth curbed recovery hopes. Maintenance shutdowns at major PTMEG plants attempted to balance the oversupplied market, but high inventories and cautious downstream procurement kept sentiment soft. Demand fundamentals remained bearish throughout Q1. PTMEG prices in China closed the quarter at USD 1,750/MT FOB Shanghai.
Europe
Throughout Q1 2025, the PTMEG market in Europe saw consistent price declines, primarily driven by weak downstream demand and persistent oversupply. In January 2025, prices remained weak amid the holiday slowdown, with low operating rates across the spandex and textile sectors. The market faced subdued activity due to cautious procurement and limited cost support from feedstock THF. February brought further declines as high inventories and a slow textile sector recovery added to downward pressure. Ongoing economic challenges, including weak consumer spending, high energy costs, and earnings shortfalls from major petrochemical firms—deepened caution in the market. Manufacturing activity across Germany slowed, and producers continued to adjust output to manage stock levels. By March, demand remained muted despite stable THF prices, with intensified competitive pressures and tariff concerns further reducing market confidence. Producers responded by lowering utilization rates, yet high inventories and limited end-use sector recovery prevented price stabilization. PTMEG prices in Germany ended the quarter at USD 2,291/MT FD Hamburg.
For the Quarter Ending December 2024
North America
In Q4 2024, the North American PTMEG market showed a mixed performance. Prices declined in October, driven by weak demand from the spandex and polyurethane sectors, combined with high inventories and persistent oversupply. Spandex producers operated at reduced rates due to mounting inventory burdens and sluggish downstream activity, while cautious procurement further weighed on the market.
However, prices began to recover in November and December, supported by rising production costs from elevated energy prices and increased seasonal demand for winter apparel. Colder weather drove moderate improvements in the spandex industry, with a gradual rise in demand for cold-resistant fabrics used in seasonal clothing. Despite this seasonal boost, the market remained constrained by oversupply, restrained purchasing activity, and cautious economic sentiment, limiting the extent of recovery.
Producers managed output carefully to balance inventory concerns, while moderate increases in US retail sales provided additional support for downstream consumption. Ending the quarter, the price for PTMEG in the USA was recorded at USD 2,350/MT Del Texas, reflecting seasonal and cost-driven improvements.
APAC
In Q4 2024, the APAC PTMEG market experienced a mixed trend. October saw continued price declines due to weak spandex demand, oversupply, and falling raw material costs. Sluggish domestic trade and exports, coupled with a weaker-than-expected recovery in downstream demand despite increased textile export volumes, contributed to the downward pressure. By late October, prices declined further due to these persistent market conditions. In November, PTMEG prices continued their decline, marking six consecutive months of reductions, driven by weak demand from polyurethane and spandex industries and bearish market sentiment. Although feedstock prices saw a slight uptick, overall production costs remained subdued, and oversupply and high inventories exacerbated market challenges. In December, PTMEG prices saw a slight increase due to steady demand from spandex industries driven by the seasonal rise in winter apparel production. However, downstream procurement remained cautious, and oversupply continued to weigh on the market despite the seasonal demand uptick. Ending the quarter, the price for PTMEG in China was recorded at USD 1,880/MT FOB Shanghai.
Europe
In Q4 2024, the European PTMEG market showed mixed trends. Prices in October and November continued to decline due to weak demand from the spandex and polyurethane sectors, coupled with persistent oversupply and intense price competition. High inventory levels and subdued activity in downstream industries further pressured the market, with limited purchasing activity from cautious buyers. Spandex producers, burdened by low profitability and oversupply, reduced operating rates, exacerbating the weak sentiment. However, December brought a slight increase in PTMEG prices as colder weather spurred a seasonal rise in winter apparel production, driving moderate demand improvement in the spandex industry. Manufacturers adjusted inventories carefully, balancing production against restrained purchasing behaviors. While the seasonal uptick provided temporary relief, the market remained constrained by excess supply and cautious procurement, limiting broader recovery. By the end of the quarter, the price for PTMEG in Germany was recorded at USD 2,434/MT FD Hamburg, reflecting the seasonal demand improvement and ongoing efforts to stabilize amidst oversupply challenges.
For the Quarter Ending September 2024
North America
In Q3 2024, the Polytetramethylene Ether Glycol (PTMEG) market in North America faced a challenging environment characterized by declining prices. The significant factors contributing to this downtrend were multifaceted. Weak demand from downstream industries, particularly the spandex and textile sectors, played a pivotal role in exerting downward pressure on PTMEG prices. Oversupply issues further exacerbated the situation, with excess inventory levels hindering any potential price recovery. Additionally, subdued global economic conditions and heightened competition among industry players added to the negative sentiment in the market.
Focusing on the USA, the region experienced the most significant price changes during the quarter. PTMEG prices witnessed a substantial percentage change from the same quarter last year, registering a notable decline of 28%. Moreover, compared to the previous quarter in 2024, prices dropped by 11.3%, reflecting the continued downward trend. The price variation between the first and second half of the quarter further highlighted the challenging market conditions.
In conclusion, the latest quarter-ending price for PTMEG in the USA stood at USD 2364/MT, signaling a persistently decreasing pricing environment. The overall trends underscored a negative trajectory, influenced by a combination of factors that weighed heavily on market dynamics.
APAC
In Q3 2024, Polytetramethylene Ether Glycol (PTMEG) market faced significant challenges in APAC, marked by falling prices due to weak demand and oversupply. China, the largest market, saw a continued decline in PTMEG prices, driven by sluggish demand from the spandex and textile sectors. Despite the traditional peak season, the spandex market did not recover, leading to high inventories and limited procurement. Export volumes for clothing and textiles increased, but low prices curbed any substantial rebound in PTMEG demand. Supply remained high, with PTMEG plants in China reducing production rates due to financial losses and excess inventories. Fierce price competition further pushed prices toward historic lows. Meanwhile, demand stayed weak, especially in the spandex sector, which struggled with oversupply and declining prices. Domestically, retail sales of clothing and textiles fell by 1.6% year-on-year in August, reflecting low consumer confidence. PTMEG prices witnessed a substantial percentage change from the same quarter last year, registering a notable decline of 36.5%. Moreover, compared to the previous quarter in 2024, prices dropped by 11%, reflecting the continued downward trend.
Europe
In Q3 2024, PTMEG prices in Europe continued their downward trajectory, driven by weak demand and oversupply. The market witnessed a substantial percentage change from the same quarter last year, registering a notable decline of 14%. Moreover, compared to the previous quarter in 2024, prices dropped by 5.8%, reflecting the continued downward trend. In Germany, PTMEG prices remained under pressure due to global weakness in textile demand, impacting downstream sectors like textiles and spandex. Bearish sentiment, low trading volumes, and weak cost support from feedstock tetrahydrofuran exacerbated the market's challenges. Procurement was cautious as buyers limited purchases amid fears of losses. Despite efforts to stabilize prices, weak foreign trade orders and overcapacity kept pressure on the market. Demand for PTMEG remained sluggish, particularly in the spandex sector, with limited recovery prospects. In conclusion, the latest quarter-ending price for PTMEG in the Germany stood at USD 2604/MT, 1000 FD Hamburg, signaling a persistently decreasing pricing environment. The overall trends underscored a negative trajectory, influenced by a combination of factors that weighed heavily on market dynamics.
For the Quarter Ending June 2024
North America
In Q2 2024, the pricing environment for Polytetramethylene Ether Glycol (PTMEG) in North America has been overwhelmingly negative, marked by a consistent decline in prices. Several significant factors have driven this downturn. Predominantly, an oversupply situation has plagued the market, with inventories surpassing demand levels across the region. The downstream textile and spandex industries, major consumers of PTMEG, have exhibited subdued demand due to economic uncertainties and reduced consumer spending. Additionally, geopolitical tensions and high inflation rates have further constrained the purchasing power of downstream industries, exacerbating the bearish sentiment.
In the USA, where the most pronounced price changes were observed. From the previous quarter in 2024, prices degraded by -6%, reflecting persistent market challenges and indicative of dwindling demand as summer procurement activities failed to materialize as strongly as anticipated.
The latest quarter-ending price for PTMEG 1000 Del Texas in the USA stands at USD 2582/MT, underscoring the negative pricing trajectory. Overall, the PTMEG market in North America, and especially in the USA, has faced a notably negative pricing environment in Q2 2024, driven by persistent oversupply, waning downstream demand, and broader economic headwinds.
APAC
In Q2 2024, the pricing landscape for Polytetramethylene Ether Glycol (PTMEG) in the APAC region has been predominantly characterized by a negative sentiment, driven by several critical factors. A primary influence has been the persistent oversupply in the market, coupled with subdued demand from the downstream textile and spandex industries. The seasonal downturn in textile consumption further exacerbated the situation, leading to decreased production enthusiasm among manufacturers. Additionally, logistical challenges, including high freight rates and port congestion, disrupted supply chains, particularly affecting imports from key suppliers like China. These factors collectively exerted significant downward pressure on PTMEG prices, resulting in a notable decline.
Focusing on South Korea, the market experienced the most pronounced price changes within the APAC region. The overall trend in Q2 2024 for South Korea exhibited a marked downturn, reflective of broader regional influences. Seasonality played a role, with typical off-season effects further dampening demand. The correlation between increased upstream crude oil prices and the declining PTMEG prices highlighted the complex interplay of factors at work. From the previous quarter in 2024, prices fell by 6%, indicating a continued downward trajectory. The quarter concluded with PTMEG prices at USD 2238/MT FOB Busan.
Overall, the pricing environment for PTMEG in Q2 2024 has been decidedly negative, driven by oversupply, weak demand, and logistical disruptions, with South Korea experiencing substantial declines reflective of broader regional trends.
Europe
In Q2 2024, the Polytetramethylene Ether Glycol (PTMEG) market in Europe faced a pronounced downward trend, influenced by several critical factors. The decline was primarily driven by subdued demand across downstream sectors, such as spandex, coatings, and textiles, exacerbated by low procurement activity and the ongoing economic uncertainties stemming from heightened inflation and geopolitical tensions. Additionally, inventory surpluses and a lack of robust cost support from feedstock tetrahydrofuran further pressed down prices. The sluggish global textile industry, marked by weak garment demand, created a bearish market sentiment, with manufacturers showing limited production enthusiasm.
In Germany, the impact was notably severe, with PTMEG prices exhibiting significant volatility. Seasonal factors such as the textile industry's low consumption period and adverse weather conditions further hampered market dynamics. The overall trend was characterized by a substantial 10% year-on-year decrease, reflecting persistent market challenges. Compared to the previous quarter of 2024, prices showed a marginal 3% uptick, indicative of transient supply chain adjustments rather than robust market recovery. A closer look within the quarter revealed a 1% price dip between the first and second halves, underscoring the continuous downward trajectory.
The pricing environment remained decidedly negative, with the latest quarter-ending price at USD 2801/MT for PTMEG 1000 FD Hamburg in Germany, epitomizing the ongoing pressures and the absence of significant demand revival.
