Polyols Price In South Korea
- South Korea: 2336 USD/MT
In South Korea, the price of polyols observed a bearish trend and reached 2336 USD/MT during the fourth quarter of 2023.
The latest report by IMARC Group, titled “Polyols Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” provides a thorough examination of Polyols Prices. This report delves into the price of polyols globally, presenting a detailed analysis, along with informative price chart. Through comprehensive polyols price analysis, the report sheds light on the key factors influencing these trend. Additionally, it includes historical data to offer context and depth to the current pricing landscape. The report also explores the demand, analyzing how it impacts market dynamics. To aid in strategic planning, the price forecast section provides insights into price forecast, making this report an invaluable resource for industry stakeholders.
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The study delves into the factors affecting polyols price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.
The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.
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Polyols Price Trend- Last Quarter
The polyol market is influenced by several key factors that drive its growth and development. Primarily, the expanding applications of polyols in the production of polyurethane foams, which are extensively used in industries such as automotive, construction, and furniture, significantly contribute to the demand for polyols. The construction sector, in particular, utilizes these foams for insulation purposes, buoyed by global urbanization trends and increasing investments in infrastructural projects.
Additionally, the automotive industry utilizes polyurethane foams for cushioning and insulation, with rising vehicle production worldwide bolstering the demand for polyols. Another pivotal factor is the ongoing innovation in bio-based polyols, driven by environmental concerns and the shift toward sustainable manufacturing practices. These eco-friendly alternatives are gaining traction due to stringent regulatory policies aimed at reducing carbon footprints and VOC emissions, further supported by consumer preferences for sustainable products.
Polyols Industry Analysis
During the fourth quarter of 2023, polyol prices in the North American region demonstrated a downward trend, influenced by diminished demand and reduced manufacturing activities within the polyurethane sector.
This decline in prices was linked to lower consumption levels among end-user industries. Initially, this weak demand was particularly evident in the polyurethane materials required by automotive manufacturers, which witnessed a drop in production activities due to the United Auto Workers (UAW) strike.
Whereas, in the Asia-Pacific region, the polyol market exhibited a bearish trend during the last quarter of 2023, characterized by low to moderate demand from downstream industries and a slowdown in the manufacturing sector, leading to a consistent decrease in polyol prices. The price of propylene oxide, a key feedstock for polyol production, fell across the region due to an accumulation of inventories triggered by reduced off-takes from the glycol industries.
This stock buildup contributed to lower production costs, yet polyol production rates in the Asian region remained stable. Mid-quarter, procurement activities by regional buyers decreased with the onset of winter, and the consumption of polyurethane components and materials continued to be sluggish, particularly in the automotive and broader manufacturing sectors.
Similar to North America, the European polyol market also experienced a bearish trend in the fourth quarter of 2023, marked by declining prices throughout the period. This downturn was largely driven by weak demand within the polyurethane segment and reduced manufacturing activities during the peak winter months, alongside decreased purchases by domestic buyers.
Initially, the ample supply of polyols and the growing preference of downstream buyers for bio-based polyurethane materials adversely affected demand. Mid-quarter, despite the subdued market conditions, polyol supply rates remained steady in the region, supported by consistent shipping rates from European distribution hubs.
Regional Price Analysis:
- Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand
- Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
- North America: United States and Canada
- Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
- Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco
Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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