Polyolefin Elastomers Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Polyolefin Elastomers in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Polyolefin Elastomer Price Trend for the First Half of 2023

Asia

In the first quarter of 2023, the price trend of polyolefin elastomer faced southwards as it was adversely affected by the downfall of the automotive industry and the availability of imports from South Korea and Singapore that, caused the problem of overstocking in the region. However, the second quarter proved to be favourable for the polyolefin elastomer market.

A remarkable incline was observed in the prices as the demand from the automobile industry and related downstream sectors increased. The market was also favoured by the rising domestic and overseas orders and the strong performance of the Asian auto sector. The positive consumption rates further supported the polyolefin elastomer market and ultimately led to the surge in the prices of polyolefin elastomer.

Europe

The polyolefin elastomer prices declined in the first quarter of 2023 and struggled throughout the second quarter. In the first quarter, the prices were affected by the stumbling market and falling freight charges. The European region also suffered from soaring inflation rates and hikes in interest rates that caused a decline in consumer confidence in the polyolefin elastomer sector.

However, the trend inclined slightly in the first few months of the second quarter due to the increased number of offtakes and ample supply of the product in the region. The strong demand caused the production rates to shoot up, especially in the Spanish market. But towards the end of the second quarter, the prices of raw materials in the European region significantly declined, which adversely affected the polyolefin elastomer prices.

North America

The first quarter recorded a declining trajectory in the price trend of polyolefin elastomer. The major employer of polyolefin elastomer, i.e., the automotive sector struggled to maintain its demand throughout the quarter and with excess availability of the product, the prices of polyolefin elastomer dipped.

In the initial months of the second quarter, the market dynamics improved as it gained support from the improving automotive sector in domestic and overseas regions. In addition to this, limited stocks of the product due to labour shortages and feeble supply also supported the rising prices. However, the trend declined again in the last months with the revival of operational rates and an increased influx of products on the market.

Analyst Insight

According to Procurement Resource, the price of polyolefin elastomer is estimated to oscillate in the upcoming quarter. The automotive sector is struggling to maintain its market dynamics, and the excess number of inventories is estimated to affect polyolefin elastomer prices negatively.

Procurement Resource provides latest prices of Polyolefin Elastomers. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.