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[Unit = USD/Tonnes]
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[Unit = USD/Tonnes]
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[Unit = USD/Tonnes]
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For the Quarter Ending September 2023
North America
During the Q3 ending on September 2023, the prices of Superabsorbent polymer declined and reached USD 1670/MT (CFR-USGC) due to the sufficient stocks in the storage units and declined demand from the downstream market, resulting in a reduced production rate, which led to decreased trading activities. Due to the decreased prices of the commodity, the suppliers were forced to provide discounts on bulk purchases to clear out the inventories for the fresh stocks. However, in August 2023, the price trend elevated which was attributed to an increase in demand from downstream sectors, particularly Agriculture and adult incontinence-producing industries. Consequently, traders have shown a keen interest in procuring large inventories at lower prices to maximize their profit margins in the seasonal market. This heightened demand and strategic purchasing have kept market sentiments positive and led to an increase in the market value of the product over the month. The Superabsorbent Polymer market in the region has been impacted by insufficient supply, as firms are experiencing lower stocks.
APAC
In the Chinese market, the price trend of Superabsorbent polymer declined in the Q3 ending on September 2023 at USD 1550/MT (FOB-Qingdao). The prices of the commodity followed a declining trend except in August 2023, where the prices of the commodity were monitored to be increasing. The combination of insufficient inventories and increased consumption from the downstream industries like disposable diapers and adult incontinence pad-producing industries contributed to this upward trend. The market dynamics shifted as supply constraints led to heightened demand, pushing prices higher. Furthermore, the rise in energy prices and feedstock acrylic acid also played a crucial role in raising the overall production cost. Other than August 2023, the declining trend was followed due to the high inventory levels in the storage units and lower demand from the downstream ventures, which led to a decline in the production cost, decreasing the price trend of the commodity. The suppliers declined the offers and bids to enhance their profit margins; instead, they provided discounts on the bulk purchases by the buyers.
Europe
The market prices of Superabsorbent Polymer declined in the 3rd quarter, ending on September 2023. Due to the weak market situation, the consumption of the existing inventories in the storage units decreased. Due to the adequate stocks in the storage units, the production rate of the commodity decreased, which made the suppliers decline their offers and bids to enhance their profit margins and to provide discounts on bulk purchases to the buyers. The demand for the product from the downstream agrochemical enterprise was low, which was compensated by the existing inventories in the storage units with no need to restock the commodity. Furthermore, the drop in the inflation rate in Europe has also contributed to the decreased prices of the product. In terms of the upstream market, the prices of Acrylic Acid were recorded to be at the lower end, providing cost support to the Superabsorbent polymer. Since the demand for the commodity was low, the trading rates declined as well due to the sufficient stocks in the storage units.
For the Quarter Ending June 2023
North America
According to new findings released by ChemAnalyst's market team, the price of superabsorbent polymer or 'SAP' in the U.S. market during Q2 2023 decreased compared to earlier projections. Specifically, our records show that in June, the standard price stood between USD1850-USD1950 CFR USGC; however, the actual number may vary considering different pricing platforms among diverse traders active within international boundaries. Our investigative analyses reveal that construction firms in the U.S. faced major losses in their operational income. They suffered severe revenue drops, which resulted in lower total sales. Ultimately, their net profit margin shrank considerably, reflecting market conditions adversely affecting their shareholders. Moreover, due to the turbulence caused by economic uncertainty in various countries across Europe, several key end applications in the U.S. market, mainly paint and coating applications, reported falling prices over recent weeks. The Purchasing Managers Index (PMI), an important indicator of market health, recorded a 48.4% contraction. Despite facing stiff competition in terms of higher product prices from rival sellers in neighboring parts of Asia-Pacific and Middle East Gulf Cooperation Council (GCC), the U.S. segment has shown signs of recovery, thanks in part to rising crude oil values and the appreciation of the U.S. dollar since mid-Q2 against main global currencies. Overall, our examinations point toward a somewhat volatile environment going forward as far as the demand picture is concerned globally.
Asia
Following research conducted by ChemAnalyst Team, we can confirm that the prices of SAP during the second quarter of 2023 dropped significantly in the Asian market, with prices currently standing at USD 1540/ton FOB Busan. We found evidence suggesting that the situation surrounding the China-South Korea tech trade market took a downturn last month, leading to a steep decline in shipment volumes from South Korea to China. Contrary to expectation, demand levels did not rise as anticipated following previous forecasts indicating increasing demand potential. As a result of this shift, demand fell sharply by approximately 35.7% year on year due to the waning interest among Chinese consumers resulting from moderate economic growth. Nevertheless, although freight expenses related to the Southeast Asian – Northeast Asian – North America lanes were subject to mild declines of roughly 1%, other regions like the transpacific lane witnessed a moderate decline of around 2%. These alterations have had little effect on the aggregate worthiness of products connected with the semiconductor sector. By contrast, in Southern Korea, production costs rose unexpectedly, creating added risk to clients who purchase the commodity in bulk.
Europe
During Q2 of 2023, SAP experienced significant price drops within Europe. Despite this reduction in value, there was still a decline in overall demand, which led to less-than-average inventory turnover. Additionally, purchasing power remains relatively stagnant without any notable increase. Manufacturers have attempted to offset these issues through the expanded use of factory gates (i.e., greater access to supplier goods), but these attempts appear ineffective based on recent order rates analysis. Sales figures remain largely flat as buyers continue to hold out hope that business performance might improve in their favor by next year despite overall market negativity towards such expectations. Lastly, manufacturer optimism has decreased significantly recently, which could indicate some level of concern for future profits given continued investments into expanding market reach. The inventory was elevating in the European market due to lower utilization of SAP from the downstream sanitary industries marketplace, as per reported by traders in the region, and the stock of feed Sodium Polyacrylate also increased amongst the merchants, as reported.
For the Quarter Ending March 2023
North America
The market value of Superabsorbent Polymer de-escalated in the North American market with costs at USD 2682/ton CFR USGC. The demand for downstream procurement was largely poor, inquiries were generally weak, and the performance was bad, with market conditions being stagnant and unhealthy. Recently, the market price of the raw material Propylene fell narrowly, and the cost support weakened. Operating rates declined with a pullback from the downstream drug delivery and personal care products in the region. Compared with the previous period, the demand side improved, but the recovery was slow. Acrylic acid market discussions focused primarily on stability, and they were moderate.
Asia
The market value of Superabsorbent Polymer depleted in the Asian market with costs at USD 1826/ton FOB Busan. The procurement of 2-Ethytlhexyl Acrylate from the downstream paints and coatings market declined, relieving pressure from the prices of the product. The inventories were observed to be rising due to lower consumption. The supply chain by the producer's side was moderate enough, resulting in elevating of the inventories of Super Absorbent Polymer in the South Korean market. Investors are pessimistic about the South Korean market seeing fewer sales by the distributors in the region as loss seemed to de-escalate, indicating that their anticipated earnings are slowing down historically.
Europe
The prices of Superabsorbent Polymer plummeted in the European market with a fall in marginal demand from downstream sanitary products in the region, as quoted by the traders in the regional market. The decreased demand from the personal hygiene segment globally is the main factor depleting the market expansion. The fall in demand from economies such as China and India is expected to weaken the Superabsorbent Polymer market. In comparison to the prior period, the feedstock Acrylic Acid's operating rate has fallen, and the market support has been modest in the region. The supply chain situation in China is moderate, with SF Holding up by 3.4% and freight charges plummeting in the region. The inventory level of SAP was rising as the supply was not getting consumed in the regional market.
For the Quarter Ending December 2022
North America
During Q4 of 2022, the market value of Superabsorbent Polymer plunged in the North American market with a fall in feedstock costs (Acrylic Acid) and a drop in consumption levels. The demand for downstream procurement was largely poor, inquiries were generally weak, the demand side's performance was sluggish, and the market mood was stagnant and weak. The downstream procurers were cautious and mostly accepted low-priced procurement, the market attitude was insufficient, and the feedstock Acrylic acid market was under pressure and declining, which impacted the cost pressure negatively. Higher inventory levels and decreasing consumption levels were observed in the regional market.
Asia
The prices of Superabsorbent Polymer plummeted in the Asian market during the fourth quarter of 2022, with the supply of SAP in the polymer market observed to be increasing due to acceptable product supply, although the downstream market was sluggish. The demand from the downstream fertilizers and herbicides industry weakened, affecting SAP prices in the Chinese market. In comparison to the prior period, Acrylic Acid's operating rate has fallen, but market support has been modest. The demand for downstream procurement was largely weak, inquiries were generally plunging, the demand side's performance was weak, and the market mood was stagnant to weak.
Europe
In the last quarter of 2022, the prices of Superabsorbent Polymer fluctuated with the limited cost support and favorable supply side. The market transaction has been limited as procurements took place on a needed basis, and the cautious wait-and-see attitude remained profound during the last quarter of 2022. The feedstock Acrylic Acid market has been sluggish due to limited demand from downstream industries, as witnessed in Q4. The demand from the downstream fertilizers and herbicides industry maintained stagnancy, further affecting SAP prices. The supply chains improved towards H2 of Q4 and were good enough, resulting in an abundance of Super Absorbent Polymers in the European market.
For the Quarter Ending September 2022
North America
In Q3, the prices of Superabsorbent Polymer fell in the US market during August, with prices ranging at USD 2660/ton CFR USGC. The cost and supply side had weak support, the market transaction was needed, and the cautious wait-and-see attitude was vital. The demand from the downstream fertilizers and herbicides industry weakened, affecting SAP prices. Prices fell as feedstocks decreased (Acrylic Acid), and consumption levels remained down. Higher inventory levels and decreasing consumption levels were observed in the regional market. The supply of shipments was abundant, which brought much traffic from and to the port.
Asia
The price of SAP fell in the Chinese market during Q3 2022 was witnessed ranging from USD 2290-2310/ton FOB Qingdao in August. Furthermore, demand for the product decreased from the downstream personal care segment, while import demand from the international market remained troubled due to domestic trade disturbances. In comparison to the prior period, feedstock Acrylic Acid's operating rate has fallen, but market support was modest. The downstream procurement was cautious and mostly low-cost procurement, the market attitude was insufficient, and the acrylic acid market was under pressure and declining, which were the primary factors.
Europe
During the third quarter of 2022, the prices of Superabsorbent Polymer decreased in the European market. The slowing demand in the international market perfectly captures the weak performance of the global automotive sector. As a result, POE imports have surged over the past several months, which has improved the dynamics of supply on the local market. Despite global inflation, Europe's automotive industry has thrived due to strong domestic demand for end products. Although demand fundamentals remain optimistic, supply dynamics have continued to cater to domestic consumption. The inventories were rising and were observed to be stockpiled by the traders and the suppliers.
For the Quarter Ending June 2022
North America
Superabsorbent Polymer market witnessed mixed fundamentals in the North American market. The material prices continued to rise gradually for most of the second quarter across the region. While the demand and supply fundamentals were stable, rising inflationary pressure had led the price of the SAP to follow an upward trajectory. Furthermore, the US market witnessed the circumstances of stagflation since the beginning of the first week of June, consequently compelling producers to raise the price of their materials. In addition, the rising energy cost has affected producers' input costs. Therefore, SAP prices in the US region continued to rise gradually during the second quarter of 2022.
Asia
In the Asian market, Superabsorbent Polymers witnessed close stability in the second quarter of 2022. Demand fundamentals of SAP in Asia were strong throughout the quarter, while supply dynamics suffered mixed sentiments in some countries. China was one of the Asian economies still reviving from rising cases of COVID that had affected the domestic supply of the material. However, most of the SAP production was to be stable in Q2 2022 other than China being the exception as its major provinces were under lockdown, hampered the domestic production of the product. Moreover, the declining costs of raw material Acrylic Acid in the region further stabilized the product's prices. Nevertheless, rising inflationary pressure did not let the circumstances favor the material producers.
Europe
Stable market fundamentals were observed across Europe for Superabsorbent Polymer. The demand-supply gap continued to be narrowed. In other words, the healthy demand for the material in the European market did not hover over the consistent supply of the SAP. However, the rising cost of energy in the region and the high feedstock prices coupled with global inflationary pressure compelled European producers to raise the Superabsorbent price of their materials. Hence, the domestic price trend of SAP was observed to be moving upwards. Moreover, Europe produces a major part of its domestic consumption; therefore, the rising freight cost did not affect as much as was anticipated. Nevertheless, the price of SAP witnessed a slight decline in the last month of Q2 after the cost of raw materials started moving downwards.
For the Quarter Ending March 2022
North America
High Raw material costs amid stable offtakes from the domestic market remained a concern for regional players during Q1 2022. Demand fundamentals for the product remained stable from the downstream consumer sector, while manufacturers heard battling with high raw material costs. It was observed that acrylic acid and Acrylates prices showcased a significant hike during this quarter, owing to soaring raw material costs under the influence of Russia Ukraine conflict. However, Super Absorbent polymer prices remained range-bound throughout the quarter, assessed at around USD 2710/MT during February in the USA.
Asia Pacific
Global market sentiments have been hurt due to the steep rise in prices of upstream crude, while manufacturers' margins squeezed consistently throughout the quarter. In China, a sudden surge in pandemic cases made a substantial negative impact on the domestic market, while demand fundamentals remained stable in the meantime. Despite the fact that, upstream acrylic acid prices declined by the end of the quarter under the influence of diminishing offtakes from the domestic market, Super Absorbent polymer prices remained buoyant due to trade disturbance. On the other hand, in India, SAP prices kept on rising throughout the quarter, owing to stable offtakes amidst rising raw material cost due to disturbance in China market. Meanwhile, BPCL announced start-up of SAP demonstration plant at its Kochi refinery. SAP prices assessed around USD 2310/MT and USD 2560/MT during February in China and India, respectively.
Europe
Russia Ukraine conflict remained a major concern for the European market throughout this quarter, as it has been injecting uncertainties all across the region. Major key players heard revising their offers in order to sustain their profitability, as the consumer inflation rate risen multiyear high in the region. Trade disturbance in Baltic Sea and Black Sea led to a steep rise in inflationary pressure on consumers, where diaper and tissue manufacturers heard revising their offers to protect profitability. Under the influence of cost inflation SAP price showcased increment of around 2%-3%, consequently, Essity AB which is one of the largest suppliers of tissue and diaper increased their prices during January 2022.
For the Quarter Ending December 2021
North America
Firm offtakes from the domestic market have led to a steep price escalation in price of several commodities including SAP in USA during this quarter. Several traders heard revising their offers to sustain their profitability, as they were receiving cargoes on a higher note from domestic manufacturers, meanwhile raw material Acrylic Acid has risen by 4% within the quarter. However, cheaper imports from Korea remained a major concern for key domestic players. Thus, an antidumping duty petition was filed by domestic manufacturers against imports from South Korea. As per domestic Key SAP producer, due to consistently rising raw material they were compelled to raise their offer, while these cheap imports are threat to their survival.
Asia
Under stable demand from the regional market, while witnessing issues during procurements has led to a steep rise in price of SAP across APAC region. Prolonged shortage of shipping containers has increased the prices of several commodities in APAC countries like India and China. Meanwhile, the demand for SAP from downstream personal hygiene segment remained stable across domestic market for both countries. Furthermore, due to hike in raw material cost, most of the acrylates have been increased with a significant margin across regional market. Meanwhile, global inflationary pressure induced due to high freight and crude oil cost has marked its effect on several commodities including SAP. Thus, SAP prices heard hovering around USD 2077/MT during November in India.
Europe
European market has witnessed stable to firm demand for Superabsorbent Polymer during this period. Traders marked ample queries for SAP from regional niche buyers, while unforeseen hike in energy cost dented the overall margin of key manufacturers. However, producer implemented temporary surcharge to protect themselves from diminishing profit margin. Meanwhile, high energy cost not only affected the prices of production cost, but also increased the price of raw materials including Acrylic Acid in the regional market. Conclusively, European market witnessed consistent hike in price of several acrylates during Q4 2021, which also includes Superabsorbent polymers.
For the Quarter Ending September 2021
North America
The overall pricing outlook of Superabsorbent Polymer (SAP) showcased an upward trend in Q3 across the North American region. Strong demand was observed for SAP for diapers, feminine and hygiene products, industrial wipes, and other nonwoven materials. In the US, the supply of Acrylic Acid and Acrylate Esters has been limited for domestic buyers due to the shutdown of several plants in the aftermath of Hurricane Ida. Raw material shortages caused the prices to follow an upward trajectory and the demand from downstream sectors remained sufficient to support this hike.
Asia
The prices of Superabsorbent Polymer (SAP) observed a marginal increment during the 3rd quarter in the Asia Pacific region. In India, SAP prices witnessed a gradual surge in the past few months and reached USD 1697 per MT CFR JNPT in September. However, traders remained under stress during the quarter as demand for the product in the domestic market did not witness considerable improvement. As per market player, tumbling values of Acrylic Acid coupled with slow recovery in its demand fundamentals could narrow the spread between the Superabsorbent Polymer and its feedstock prices in the next quarter.
Europe
Superabsorbent Polymer prices rose significantly in Q3 2021 on the back of the high acrylic acid pricing and surging energy cost in the European region. Considerable improvement in the consumption of SAP from the downstream diapers and other FMCG goods was observed by the players as the quarter headed towards its closure. Disrupted supply chains, limited feedstock availability, and soaring freight charges further exacerbated the fluctuations in the SAP pricing trend across the region. The market turned optimistic after Evonik Industries AG carved out its former Baby Care Business Line as an independent company. The new entity would be having its production sites in Krefeld, Rheinfelden and Marl in Germany; and Greensboro and Garyville in the USA and would be taken over by Evonik Superabsorber GmbH in Germany, and Evonik Superabsorber LLC in the USA.
For the Quarter Ending June 2021
North America
Supply shortage of upstream Propylene and Acrylic Acid increased the prices of downstream commodities in USA during Q2 2021. Despite of improvement in production activities across Gulf of USA, low inventory level of upstream chemicals led to a further rise in prices of downstream chemicals including Superabsorbent Polymers in USA. It was observed that the prices of end use products like sanitary pads and diapers kept on rising in USA, and prime reason behind this rise was Texas freeze of February. Meanwhile, the demand from end use segments remained sufficient to further support this price hike in USA.
Asia
Asia witnessed stable demand for SAP during this quarter, under ample stock availability. In Indian market, prices of SAP fluctuated marginally, while the demand remained stable to firm throughout the quarter. However, despite of high prices in other countries like USA, prices in India remained in a narrow range due to dull market sentiments. Traders had to sell their cargoes on a cheaper rate to regulate their inventories. Meanwhile, BPCL announced a 50 KTPA SAP plant in India, under the vision to reduce India’s import dependency for SAP. In addition, South Korean giant LG Chem revealed that they have got ISCC-Plus certification to produce 9 sustainable chemicals including SAP at its Yosu and Iksan facility.
Europe
SAP demand in Europe remained firm during this quarter, as being an essential commodity the demand for Super Absorbent Polymers from consumer usually remain stable in Europe. While prices also showcased buoyancy throughout the quarter, backed by several factors like transportation difficulties, lower feedstock availability and expensive imports of raw materials from other countries like USA. Meanwhile global inflation also played an important role in providing buoyancy to the prices across the region for SAP.
For the Quarter Ending March 2021
North America
Disruption across the US gulf region due to the freezing temperatures created a global shortage of feedstock chemicals, during this quarter. Several feedstock chemicals plants like Polyacrylamide remained idled due to unfavourable operating conditions. Besides, several upstream Acrylonitrile plants like INEOS and Celanese were compelled to declare a force majeure under this rare climate calamity. Due to the rise in prices of feedstock chemicals amidst firm demand from downstream diaper manufacturers, prices of SAP rose effectively and reached historic highs during the quarter.
Asia
The Asian market faced shortage of Superabsorbent Polymer (SAP) across the region due to lower domestic output and reduced imports frequencies. Due to the shortage of containers and record high freight cost prices of SAP observed consistent increments throughout the quarter. Since SAP is a majorly imported commodity in the Indian market, the high transportation cost directly affected the price of SAP in the country, which rose from CFR USD 1547.6 per MT (January 2021) to USD 1654.8 per MT (March 2021). In addition, Formosa plastics announced investment of more than USD 7.17 million on its Taiwan based plant to boost the production by 20 KTPA SAP.
Europe
Europe showcased firm demand from domestic diaper manufacturing sector, during Q1 2021. However, the supply remained insufficient to satisfy the overall demand, as traders were also looking forward to satisfying export demand to improve their margin. Meanwhile, BASF announced permanent closure of its Mannheim SAP plant in Germany due to unfavourable market conditions. In addition, they also announced to invest USD 30.2 million in Antwerp Belgium, to produce SAP.
For the Quarter Ending December 2020
North America
USA dominates the North American super absorbent polymers market in terms of demand. During the final quarter of 2020, the demand of upstream Acrylic Acid increased, which led to increase in Sodium Polyacrylate prices. In addition, the price of upstream Propylene witnessed sharp increase during this period, due to acute shortage of supply across the region. This shortage was led by the reduced functioning of refineries at several locations due to seasonal hurricanes hitting the gulf region. The demand from consumer durables segment was on rise along with recovery of domestic activities from the pandemic-induced slowdown.
Asia
The Asian SAP market outlook for Q4 2020 was shrouded with acute volatility due to upstream supply crunch. A leading SAP manufacturer in South Korea reported double digit decrease in its SAP sales during the fourth quarter owing to acute shortage of upstream materials. Scheduled turnaround at LG Chem’s Yeosu NCC plant significantly affected the feedstock availability in the region. Since SAP is majorly imported in India, the shortage of containers and soaring ocean freight directly affected the prices of SAP in the Indian markets. Due to increase in the shipping charges and upstream price pressure, the CFR JNPT price of SAP increased from USD 1603.2/tonne in October 2020 to USD 1680.2/tonne in December 2020.
Europe
The European SAP market seemed grappling with tight supply of raw materials during the 4th quarter including upstream Acrylic Acid. The overall demand for Acrylic Acid was strong during Q4 2020 but the supply was pressured due to shortage of upstream Propylene which seemed not to ease at least in the first half of 2021. A series of plant turnarounds exacerbated the product tightness. Pushed by a number of factors, price of SAP witnessed sharp increases between Nov. and Dec.
