Ethylene Acrylic Acid Copolymer Prices, Pricing, Demand & Supply
North America
In the North American region, Ethylene Acrylic Acid Copolymer (EAA) experienced a fluctuating trend in the fourth quarter, characterized by an initial decline followed by a subsequent rise in the last two months.
The downturn in October was primarily driven by the alleviation in feedstock costs of Ethylene and Acrylic Acid. Concurrently, subdued demand from the downstream packaging sector contributed to a decrease in EAA prices. However, a notable recovery occurred as procurement activities strengthened in anticipation of the holiday season. Both domestic and international markets witnessed an upturn in demand from the downstream sector, prompting sellers to increase EAA prices.
The escalation in Ethylene prices further intensified cost pressures on the product. Complicating the market dynamics, disruptions in the supply chain within the Panama Canal, attributed to drought conditions, exerted additional influence on product pricing. Despite the challenges earlier in the quarter, the resilience of EAA became evident as market conditions improved, reflecting the intricate interplay of factors such as feedstock costs, demand fluctuations, and supply chain disruptions in shaping the trajectory of the market.
APAC
The fourth quarter of 2023 was characterized by a mixed market for Ethylene Acrylic Acid Copolymer Prices in the APAC region as the prices followed an upward trend, nevertheless depreciated by the end. The supply of EAA remained stable, but moderate, as Chinese manufacturers implemented production cuts to stabilize their margins. Further, the demand for EAA was low, both domestically and internationally, with only niche buyers showing firm interest. The prices of EAA experienced fluctuations due to the availability and international demand for the product. In terms of China, which saw the most significant changes in pricing, the market was influenced by factors such as low domestic demand and limited supplies from Chinese manufacturers while India and Indonesia also followed a similar trend. Traders practiced destocking practices, leading to a decline in prices as the quarter concluded. However, procurement activities and an expected improvement in economic activities were anticipated to support prices in the coming months. There were no reported plant shutdowns for Ethylene Acrylic Acid Copolymer during this quarter. The price of Ethylene Acrylic Acid Copolymer CFR Tangjunk Prior in Indonesia for the fourth quarter of 2023 is USD 4027/MT.
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Europe
During the fourth quarter, the European market for Ethylene Acrylic Acid Copolymer (EAA) faced challenging demand dynamics, characterized by a brief uptick in October followed by a subsequent downturn for the rest of the quarter. The October increase in the European EAA market was linked to a marginal rise in the costs of feedstock Ethylene and Acrylic Acid. Market sources indicate that European EAA producers have been grappling with significant cost pressures over an extended period, compounded by weak demand fundamentals that have adversely affected their profitability. As November and December unfolded, the European market experienced a decline in EAA prices, primarily attributed to subdued demand in the downstream packaging sector. November witnessed diminishing new orders due to weak demand conditions, leading to job cuts and a pessimistic outlook for future output. Additionally, by mid-December, supply disruptions in the Red Sea further impacted the supply situation in the European region, adding another layer of complexity to the challenges faced by the EAA market during this quarter.
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