Asia
In Asia, Dimethyl Carbonate prices showed mixed trends during Q4’24. While the market witnessed significant capacity addition with Sailboat Petrochemical's new plant in China starting commercial production, the increased supply put downward pressure on prices.
The facility's substantial capacity of 70,000 tons per year of DMC influenced market dynamics. However, strong domestic demand from China's booming EV sector provided some price support. The battery manufacturing segment remained robust, with electric vehicle sales continuing to grow and surpassing 50% of total vehicle sales in the region.
Europe
The European market faced considerable headwinds during Q4’24. Prices declined steadily throughout the quarter due to weak demand and high inventory levels. The reduction in EV subsidies in Germany, a key market, led to decreased electric vehicle sales, which directly impacted DMC consumption in battery manufacturing. The construction and industrial sectors, particularly paints and coatings, showed minimal activity, further weakening demand. European producers struggled with inventory overhang from earlier overproduction, leading to increased competition and price pressures in the domestic market.
North America
North American DMC prices followed a downward trajectory in Q4 2024. The market sentiment remained bearish due to uncertainty surrounding electric vehicle policies and consumer adoption rates. The changing political landscape and discussions around EV incentives created additional market anxiety. Infrastructure challenges, including concerns about charging stations and range anxiety, continued to impact EV sales growth, consequently affecting DMC demand in the battery sector.