Polyolefin Plastomer (POP) Prices: Trend, Pricing, News, Market Analysis | ChemAnalyst


For the Quarter Ending September 2023

North America:

Polyolefin Plastomer (POP) prices in the North American market for the third quarter of 2023 followed a mixed trajectory. A notable increase was observed in July, driven by heightened demand stemming from a substantial surge in vehicle sales in the US and Western Europe, with more than a 20% increase in June. The robust demand led to a surge in POP procurement in the US. The Manufacturing Purchasing Manager’s Index (PMI) for June in the United States dropped to 46.3 from 48.4 in May, primarily due to reduced manufacturing activity, decreased new orders, lower input costs, and increased destocking, signaling a reduction in POP supply and supporting the price surge in July. However, for the remainder of the quarter, POP prices experienced a noticeable decline. This decrease was linked to the continuous fall in raw material prices, particularly Ethylene, impacting the overall production costs of POP. Despite strong market sentiments in the global automotive and tire sectors, oversupply dynamics led to a significant decrease in pricing trends.

APAC:

In contrast to North America, the Asia-Pacific region witnessed a consistent decline in Polyolefin Elastomer (POP) prices during the third quarter of 2023. The Asian new vehicle market experienced substantial growth in this quarter, attributed to the ongoing recovery from COVID-19 lockdowns and improved semiconductor supply, allowing automotive manufacturers to ramp up production. Despite strong demand in the automotive industry, POP prices in the Asian market consistently decreased. This decline was influenced by factors such as a simultaneous drop in the prices of the key raw material, Ethylene, and increased market competition. These elements collectively reshaped the pricing dynamics in the POP sector significantly. The reduced cost of Ethylene directly impacted manufacturing expenses, necessitating a downward adjustment in the prices of the final products. Additionally, heightened competition prompted manufacturers to strategically lower their prices to maintain competitiveness in the industry.

Get Real Time Prices of Polyolefin Plastomer (POP): https://www.chemanalyst.com/Pricing-data/polyolefin-plastomer-1514

Europe:

In the European market, the Polyolefin Plastomer (POP) sector experienced a consistent and noteworthy increase in prices during the first month of the third quarter. This surge was primarily driven by substantial demand from the automotive industry, coupled with escalating costs of crude oil and Ethylene. However, an intriguing development unfolded in the subsequent two months, revealing a gradual and sustained decline in POP prices. This downward trend was mainly attributed to a significant reduction in production expenses, fueled by an extended period of decreasing raw material costs, particularly Ethylene. The decline in raw material costs had a direct and pronounced impact on the final pricing of POP, leading to a continuous and discernible decline in market prices. This ongoing price descent occurred despite positive advancements in the automotive sector, which continued to demonstrate growth.

 

 

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