In the first half of 2024, the price of Ethylene Vinyl Alcohol (EVOH) copolymer declined significantly, driven by increasing geopolitical tensions and supply disruptions. Major exporting countries, including the USA and China, faced challenges that impacted production and distribution. Additionally, significant players such as Belgium, India, and Taiwan experienced reduced demand amid rising market uncertainty. This combination of factors led to a notable decrease in EVOH prices, reflecting the industry’s vulnerability to external influences and shifting market dynamics.
In Q1 2024, the price of Ethylene Vinyl Alcohol (EVOH) copolymer experienced a decline due to supply constraints and disruptions in trade routes amid rising tensions in the Middle East. In the Asian market, prices fell by 1.5%, while European prices dropped by 3%. In contrast, North American prices remained stable, supported by a balanced supply-demand equilibrium. This divergence highlights the varying impacts of geopolitical factors on different regional markets.
In Q2 2024, the Asian market experienced a modest price decrease of 0.3% for Ethylene Vinyl Alcohol (EVOH), while prices in North America and Europe declined by 1.4%. Rising acceptance of sustainable alternatives to EVOH has negatively affected market sentiment, further contributing to the downturn. Additionally, low demand from the construction sector has also played a significant role in impacting prices, indicating a challenging environment for EVOH amid shifting industry preferences.
In Q3 2024, prices for Ethylene Vinyl Alcohol (EVOH) declined by 0.6% across Asia, Europe, and North America, primarily driven by a slight decrease in demand. This trend reflects ongoing market challenges and shifting consumer preferences toward alternative materials.
EVOH prices are expected to stabilize or fluctuate slightly in Q4 2024, driven by a recovery in demand from packaging and automotive sectors. Seasonal consumer demand may support prices, while ongoing shifts toward sustainable materials could limit growth. Supply chain disruptions and feedstock price fluctuations will also play crucial roles in shaping the pricing landscape.