As of August 2024, Polyol prices are around $ 1,433, per metric ton, reflecting a 2.73% decrease from July’s average of $ 1,474. This fluctuation highlights the volatility in the market, influenced by various regional factors, particularly in Singapore.
In Q1 2024, the global average price for Polyol was approximately $1,247 per metric ton, rising to $1,389 in Q2. This increase was driven by geopolitical tensions in the Middle East, which disrupted supplies of key feedstocks such as propylene oxide and other precursors necessary for Polyol production.
As we entered Q3 2024, prices continued to face upward pressure due to strong demand, particularly from the automotive and furniture sectors. While the automotive industry remains robust, the construction sector has experienced decline due to economic uncertainties, impacting overall consumption patterns.
Looking forward to Q4 2024 and beyond, an anticipated increase in Polyol production capacity in the U.S. Gulf Coast could help stabilize prices. Nevertheless, the market is likely to remain volatile through 2030, influenced by geopolitical developments, supply chain adjustments, and evolving demand trends across various industries.