In Q1 2024, the global Polycarbonate (PC) market showed a mixed trend, particularly in South Korea, where prices were reported at $1870/MT, reflecting a decrease of 2.3% from the previous quarter. This dip was primarily due to abundant supply and a slowdown in demand from the electronics and automotive sectors in the region. However, despite the decline, demand from other key sectors like construction and packaging remained stable, helping to avoid further price drops. Globally, rising raw material costs, coupled with increasing freight rates, added upward pressure to Polycarbonate prices.
In Q2 2024, the Polycarbonate market in South Korea showed a rebound, with prices reported at $2087/MT, marking an 11.6% increase from Q1. This positive trend was largely influenced by strong demand from the automotive and electrical components industries, which saw a rise in Polycarbonate use due to its lightweight and durable properties. Additionally, technological advancements in Polycarbonate production processes further supported this growth, helping manufacturers meet the higher demand efficiently. Other factors, such as supply chain optimization and increased consumer electronics production, also contributed to the upward price trend.
By early Q3 2024, Polycarbonate prices in South Korea rose slightly to $2151/MT, a +3% increase from Q2. This moderate increase was a result of balanced global supply and demand conditions. Despite an abundant supply in several regions, the steady demand from key sectors, including automotive and consumer electronics, helped stabilize prices. Freight disruptions and port congestion in Asia also played a role, preventing a sharper price drop. However, the overall market sentiment leaned towards a balanced state, as producers adjusted to fluctuating demand patterns.
Looking ahead to Q4 2024, the Polycarbonate market is expected to face continued price pressure due to increased demand from the packaging and electronics sectors as the festive season approaches. Additionally, rising automotive production and the global push for sustainability, which favours lightweight and durable materials like Polycarbonate, could further boost demand. However, any potential supply chain disruptions or increases in raw material costs could lead to price fluctuations.