For the Quarter Ending September 2025
North America
• In USA, the VAE Redispersible Powder Price Index fell by almost 5% quarter-over-quarter, reflecting softer demand and cooling downstream markets.
• VAE Redispersible Powder Spot Price trended lower amid eased feedstock costs and softer manufacturing activity in regional markets.
• VAE Redispersible Powder Price Forecast remains cautious with limited upside given persistent supply availability and seasonal demand patterns.
• VAE Redispersible Powder Production Cost Trend shows marginal relief from input costs, supporting tighter margins but not price spikes.
• VAE Redispersible Powder Demand Outlook remains tepid with downstream users exercising cautious restocking and project delays across North America.
• VAE Redispersible Powder Price Index remains below mid-year peaks, pressuring producers to optimize operations and output levels.
• VAE Redispersible Powder Spot Price volatility persists due to trade flows, logistics constraints, and inventory adjustments in North America.
Why did the price of VAE Redispersible Powder change in September 2025 in North America?
• Supply/demand balance tightened as regional consumption stagnated and export flows remained constrained, elevating inventories in North America.
• Cost pressures from feedstocks softened somewhat but petrochemical margins remained under pressure amid volatility and policy uncertainty.
• Logistics constraints and mild seasonality influenced delivery timelines, dampening prompt buying and price stabilization significantly.
APAC
• In India, the VAE Redispersible Powder Price Index fell by almost 3% quarter-over-quarter in Q3 2025, reflecting softer demand and steady feedstock costs.
• VAE Redispersible Powder Spot Price softened alongside regional demand signals, contributing to the overall Price Index decline.
• VAE Redispersible Powder Price Forecast remains cautious as inventories build and producers adjust margins amid competitive supply.
• VAE Redispersible Powder Production Cost Trend softened slightly due to lower feedstock costs, supporting price stability in APAC markets.
• VAE Redispersible Powder Demand Outlook remains moderate as construction and coatings sectors navigate seasonality and supplier activity.
• Inventory levels across APAC producers influenced pricing, with modest ex-works shipments affecting near-term Spot Price.
• Major producers continued limited maintenance outages, supporting price resilience despite softer demand in regional markets.
• Price Index remains sensitive to feedstock cost volatility and currency fluctuations across India during the current quarter.
Why did the price of VAE Redispersible Powder change in September 2025 in APAC?
• In September 2025, supply tightness in APAC contributed to price movement amid seasonal maintenance and production shifts.
• Cost pressures from feedstock revisions and logistics costs weighed on the VAE Redispersible Powder Spot Price in September 2025.
• Strengthening regional demand signals and currency movements partially offset supply constraints, creating mixed impacts on Price Index.
Europe
• In Germany, the VAE Redispersible Powder Price Index fell by almost 5% quarter-over-quarter, in Q3 2025, due to softer regional demand.
• VAE Redispersible Powder Spot Price remained under pressure as European demand softened and inventories rose modestly through Q3 2025, complicating supply planning.
• VAE Redispersible Powder Price Forecast remains cautious with potential price stabilization as ethylene-based feedstock costs ease, supporting Price Index in the region.
• VAE Redispersible Powder Production Cost Trend is tied to energy and feedstock dynamics, potentially offsetting demand improvements and margin pressure currently.
• VAE Redispersible Powder Demand Outlook remains modest with building construction and renovation cycles supporting volume recovery in late 2025 while regional competition persists.
• VAE Redispersible Powder Price Index reflects softening prices alongside competitive imports and regional manufacturing constraints in Europe, dampening margins for producers.
• Supply and logistics constraints in key Germany plants influence VAE Redispersible Powder Spot Price volatility through Q3 2025 transit routes.
Why did the price of VAE Redispersible Powder change in September 2025 in Europe?
• Supply tightness from regional producers and maintenance shutdowns limited spot supply in September 2025 significantly.
• Rising energy and feedstock costs squeezed margins, contributing to price index softness despite steady demand.
• Logistics disruptions and tariff considerations affected imports, curbing arbitrage and supporting cautious price index trajectory.
For the Quarter Ending March 2025
North America
In Q1 2025, VAE Redispersible Powder prices in the North American region recorded a quarter-on-quarter decline of 5.74% compared to Q4 2024. At the start of the quarter, prices decreased due to competitive pressure from lower-cost German imports and moderate construction sector demand. While federal infrastructure projects provided some support, regional disparities and economic uncertainties kept overall consumption subdued. Stable domestic production and reduced freight costs further exacerbated market oversupply.
By mid-quarter, prices continued declining as elevated import volumes and inventory build-up saturated the market. Despite steady construction activity and job growth in the sector, high interest rates and project delays tempered demand enthusiasm. Feedstock costs showed mixed trends, with stable vinyl acetate prices offsetting a slight ethylene increase, but production efficiencies maintained ample supply.
Towards the end of the quarter, prices fell sharply as weak downstream demand persisted. The US saw the most significant change with a noticeable decline compared to Q4 2024 with prices settling at USD 1840/MT DEL Texas. The QoQ decrease was driven by persistent oversupply, competitive imports, and restrained demand despite stable production conditions.
APAC
In Q1 2025, VAE Redispersible Powder prices in the APAC region recorded a quarter-on-quarter decline of 1.39% compared to Q4 2024. At the start of the quarter, prices decreased due to ample supply from steady domestic production and cost-effective imports, coupled with muted construction sector demand. Despite strong manufacturing growth, seasonal slowdowns and economic uncertainties kept downstream consumption subdued, particularly in paints and coatings applications. Midway through the quarter, prices rebounded as demand improved across construction and industrial applications, supported by infrastructure investments and policy incentives in key APAC economies. The construction sector’s consistent uptake of dry-mix products and adhesives, combined with steady manufacturing activity, drove consumption higher. Stable supply conditions, supported by declining ethylene costs and efficient logistics, were offset by higher feedstock vinyl acetate prices, creating cost pressures. Towards the end of the quarter, prices declined again as construction demand became uneven across regions and adhesive manufacturers reduced procurement. India saw the most significant change with a noticeable decline compared to Q4 2024, with the quarter-end price settling at INR 130500/MT Ex Mumbai. The QoQ decrease was ultimately driven by subdued end-use demand outweighing mid-quarter recovery efforts.
Europe
In Q1 2025, VAE Redispersible Powder prices in Europe recorded a quarter-on-quarter decline of 6.5% compared to Q4 2024. At the start of the quarter, prices edged upward as refinery outages and port delays due to winter weather disrupted supply chains. However, broader demand remained subdued, hindered by inflation and high production costs, resulting in weak offtake for VAE Redispersible Powder-based adhesives and coatings. By mid-quarter, Vinyl acetate monomer cost held steady, easing feedstock costs, but weak downstream consumption persisted. Trade tensions escalated as U.S. threats of levies on German chemical exports pressured manufacturers to pivot toward regional markets, exacerbating oversupply. By quarter-end, prices continued to drop as oversupply and lacklustre demand persisted. Falling ethylene and natural gas prices provided cost relief to producers, yet industrial sentiment remained weak. Germany saw the most significant change with a noticeable decline compared to Q4 2024, with the quarter-end price settling at USD 1732/MT FD Hamburg, reflecting the sustained downward pressure throughout the quarter.
For the Quarter Ending December 2024
North America
In Q4 2024, the U.S. VAE RD Powder market experienced stable pricing trends, driven by a balanced supply-demand environment. October saw steady prices, despite the impact of a tight lending environment and restrained economic activity. The construction sector showed mixed signals, with residential construction seeing some optimism, but overall demand remained moderate. The manufacturing sector continued to contract, although at a slower pace, leading to stable price levels for the product.
In November, prices remained consistent, supported by favorable import conditions and steady demand in the construction and coatings sectors. Optimism in the residential construction market, bolstered by a rise in homebuilder sentiment, was tempered by persistent challenges such as labor shortages and high material costs. The ongoing geopolitical and economic uncertainties, including the effects of the Presidential Election, kept demand for VAE RD Powder relatively stable, with no major price fluctuations.
In December, prices saw a modest increase, primarily due to higher import costs and rising freight rates, influenced by concerns over potential port strikes and escalating shipping expenses. Although demand from the construction and coatings sectors remained stable, broader economic factors, such as elevated mortgage rates and slower residential construction, restricted significant growth. By the end of December 2024, prices had risen to USD 2080/MT, reflecting a balance between market challenges and underlying resilience.
APAC
In Q4 2024, VAE RD Powder prices in India showed resilience, maintaining stability amid a balanced supply-demand environment despite construction sector challenges. October's stability was bolstered by steady Chinese pricing and proactive restocking for the festival season. However, India's construction sector's conservative growth and China's subdued demand put downward pressure on prices. Despite inflationary influences, prices in November remained stable due to balanced supply and moderate demand from construction, paints, and coatings sectors, with export resilience from Europe and North America. In December, the Indian manufacturing sector saw growth, with competitive pressures well-managed, and the construction sector experienced mixed trends. High-end residential sales grew by 7% YoY, offsetting weaker affordable housing demand. By the quarter's end, VAE Powder Tg Harder General Grade Ex-Mumbai (India) decreased by 5% from the previous quarter and was quoted as USD 1544/MT, highlighting the persistent downward trend. Despite broader Asian market sentiments being affected by weakened construction activity in China, India's stable domestic trends and high-end residential segment growth helped keep VAE RD Powder demand and prices steady.
Europe
Throughout Q4 2024, the German VAE RD Powder market exhibited price stability, supported by a balanced alignment between supply and demand. Despite reduced activity in the construction sector and the challenging economic conditions across the Eurozone, prices remained stable due to moderate restocking by distributors and traders. Lower freight rates from Asia to Europe contributed to competitive import pricing, which helped stabilize the market. The market demonstrated resilience amid geopolitical instability and rising inflation, which bolstered consumer sentiment. In November, Euro area annual inflation increased to 2.3% from 2.0% in October, supporting demand stability. While the construction, paints, and coatings industries scaled back production due to rising energy costs and reduced export orders, efficient logistics and improved import conditions helped maintain stable supply levels. The market faced key challenges, including rising costs, geopolitical uncertainties, and tightened financial conditions, which constrained investment activity and slowed project execution. By the end of December 2024, the price of VAE Powder Tg Harder (General Grade) FD-Hamburg was quoted at USD 1950/MT. Overall, the quarter reflected a cautious but stable pricing landscape for VAE RD Powder in Germany, with market stability maintained amidst broader economic pressures and weak domestic demand.
For the Quarter Ending September 2024
North America
In Q3 2024, the North American market for VAE Redispersible Powder (VAE RD Powder) experienced an increasing to pricing trend, driven by a balanced supply-demand environment. Several key factors shaped the market during this period, including steady demand from the construction sector, sufficient product availability, and consistent pricing for imported materials.
Despite global challenges such as supply chain disruptions, labor disputes, and weather-related obstacles, the market remained resilient, allowing prices to hold firm. In the USA, the VAE RD Powder market showed notable price fluctuations, with a 2% increase compared to the previous quarter. This upward movement was largely driven by sustained construction activities and stable market sentiment.
Notably, the price of VAE RD Powder DEL Texas surged by 10.8% in July, supported by strong regional demand, before stabilizing for the remainder of the quarter. Compared to the same quarter in 2023, prices remained stable, reflecting positive market conditions and optimism. Overall, the North American VAE RD Powder market showcased a steady performance in Q3 2024, supported by solid demand and a favorable supply environment amidst broader global disruptions.
APAC
In Q3 2024, the VAE Redispersible Powder market in the APAC region experienced a notable decline in prices, driven by multiple factors contributing to a negative pricing environment. Seasonal impacts, particularly heavy rainfall, disrupted construction activities, reducing the demand for VAE Powder. Additionally, logistical issues and supply chain disruptions further strained the market, resulting in an oversupply situation that intensified the downward pressure on prices. India, a key market in the region, saw significant fluctuations, with a 3% price drop from the previous quarter as demand waned. Although certain periods exhibited stability, the overall trend for VAE Powder in the region remained bearish. By the end of the quarter, the price of VAE Powder Tg Harder General Grade Ex-Mumbai decreased by 5.7%, highlighting the persistent downward trajectory. Despite the challenges faced, no plant shutdowns were reported, which helped maintain product availability and contributed to market stability amidst declining prices. The quarter overall was marked by a difficult pricing environment, underscored by weakened demand and supply chain inefficiencies across the region.
Europe
Throughout Q3 2024, the European market for VAE Redispersible Powder exhibited a trend of stable to increasing prices, despite a mix of challenges influencing market dynamics. Demand across the region was moderate to low, largely due to difficult economic conditions both locally and internationally. The construction industry, a major consumer of VAE Powder, encountered significant obstacles, resulting in subdued consumption levels. On the supply side, the market maintained moderate inventory levels, with no shortages reported; however, cautious trading practices emerged due to rising global freight rates and port congestion disruptions. The market initially experienced a bearish trend, leading to a price decrease driven by low demand and economic uncertainties. Germany, in particular, faced notable price fluctuations influenced by weak domestic demand and global shipping challenges. Despite these fluctuations, prices in July witnessed an increase of 8.3% for VAE Powder Tg Harder (General Grade) FD-Hamburg, stabilizing for the remainder of the quarter. This stability was further supported by the absence of reported plant shutdowns during this period, contributing to a resilient market environment amid the prevailing uncertainties. Overall, the quarter reflected a cautious but stable pricing landscape for VAE Redispersible Powder in Europe.
