Polyethylene Furanoate Price in USA
- United States: 7,463 USD/MT
The price of polyethylene furanoate in the USA for Q4 of 2023 reached 7,463 USD/MT in December.
The latest report by IMARC Group, titled "Polyethylene Furanoate Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data," provides a thorough examination of polyethylene furanoate prices. This report delves into globally, presenting a detailed analysis, along with informative price chart. Through comprehensive price analysis, the report sheds light on the key factors influencing these trends. 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.
Polyethylene Furanoate Prices December 2023:
- United States: 7,463 USD/MT
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The study delves into the factors affecting polyethylene furanoate 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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Polyethylene Furanoate Price Trend- Q4 2023
Individuals and companies are seeking alternatives to conventional petroleum-based plastics, which is driving the demand for polyethylene furanoate (PEF). PEF, derived from renewable plant materials, offers a promising solution with its superior barrier properties, which make it ideal for packaging beverages, food, and other products. Its high recyclability and biodegradability further enhance its appeal in a market increasingly focused on reducing environmental impact.
Additionally, government regulations and policies aimed at reducing plastic waste and encouraging the use of sustainable materials are leading to the adoption of PEF. Besides this, the potential of PEF to be produced using non-food crops, such as agricultural residues and other biomass, adds to its appeal by mitigating competition with food resources and supporting agricultural sustainability. Investment in research and development (R&D) is also advancing PEF technologies, leading to improved production efficiency and lower costs, which are vital for scaling up its use. Collaborations between manufacturers, researchers, and policymakers are fostering innovation and accelerating the transition to PEF-based products.
Polyethylene Furanoate Industry Analysis
In the last two quarters of 2023, the Asian Pacific PEF market struggled due to fluctuating agricultural markets, impacting the price of this biopolymer. Quarter three started with steady prices due to balanced supply and demand but saw a sharp decline in the following quarter. This drop was triggered by international shipping issues in the Red Sea, disrupting the supply chain and causing prices to fall in major markets like India and China. As a result, the market experienced mixed sentiments, with the stability of prices proving to be short-lived amidst these challenges.
The European PEF market faced challenges in maintaining prices during the second half of 2023. In the third quarter, economic conditions improved slightly as inflationary pressures eased, leading to reduced upstream costs. This decrease contributed to a downward trend in PEF prices. The decline continued into the subsequent quarter, driven by low industrial activity and a decrease in global trade, which further influenced market behavior. Overall, the market experienced a consistent drop in prices due to these combined factors.
The price trend of PEF in North America showed fluctuations at lower levels due to supply and demand imbalances during the second half of 2023. Excessive pressure on inventories led suppliers to lower prices to stimulate product movement. This oversupply, combined with weak demand, resulted in a downward price trajectory in the second half of 2023. The persistent gap between supply and demand contributed to the lackluster performance, with suppliers struggling to balance inventory levels and maintain market stability.
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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