Propylene Carbonate Prices

Propylene Carbonate Prices December 2023

The propylene carbonate prices in China for Q4 2023 reached 907 USD/MT in December. The market remained steady, supported by moderate to high demand from industries such as textile dyeing and battery manufacturing. Moreover, the market's stability was further reinforced by consistent supply levels and efficient supply chain management, avoiding major disruptions like plant shutdowns.

Propylene Carbonate Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Propylene Carbonate Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of propylene carbonate pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of propylene carbonate at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of propylene carbonate price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing propylene carbonate price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Propylene Carbonate Market Analysis

The global propylene carbonate market size reached US$ 422.6 Million in 2023. By 2032, IMARC Group expects the market to reach US$ 710.9 Million, at a projected CAGR of 6% during 2023-2032.

• The increasing demand for propylene carbonate in the automotive industry is influencing the market growth. Propylene carbonate is widely used as a solvent for lithium-ion batteries in the automotive sector. Hence, the expanding market for lithium-ion batteries which is expected to reach US$ 139.6 Billion by 2032, exhibiting a growth rate (CAGR) of 11.5% during 2024-2032 as stated by the IMARC Group’s report, is escalating the demand for propylene carbonate. Besides, there is an increasing demand for passenger vehicles due to rapid industrialization and urbanization in countries such as China, India, and Southeast Asian nations.
• The growing emphasis on research and development (R&D) to investigate novel uses and enhance product efficacy, which is fostering the expansion of the market. It is anticipated that this emphasis on innovation will result in the creation of sophisticated formulas and increased market potential. For example, a major international producer of petrochemicals, Indorama Ventures Public Company Limited (IVL), signed a trade in June 2021 to open a new research and development (R&D) center with offices in Mumbai, India. It focuses on product development to service numerous markets, including home, personal, and industrial energy, lubricants, care products, cleaning solutions, agrochemicals, mining, and coatings, this purpose-built facility will function as IVL's principal research hub for Asia Pacific area.
• Propylene carbonate is used as a solvent and additive in personal care products, cosmetics and skincare, and pharmaceutical formulations. Due to its low volatility and strong solvency power, it is also used as a solvent in paints and coatings which helps to drive market growth in the automotive and construction industries by being suited for high-quality paints and coatings.
• Stricter environmental restrictions are being implemented by regulatory organizations in several countries, encouraging the usage of environmentally friendly and biodegradable products such as propylene carbonate that is promoted by this regulatory support, due to more hazardous solvents available in the market.
• Regulatory bodies in several countries are implementing stricter environmental regulations that favor the use of eco-friendly and biodegradable materials. This regulatory support encourages the adoption of propylene carbonate over more harmful solvents. It is also registered under the registration, evaluation, authorization, and restriction of chemicals (REACH) regulation and is produced in and imported to the European economic area with ≥ 10,000 to < 100,000 tons per annum across the region.

Propylene Carbonate News

The report covers the latest developments, updates, and trends impacting the global propylene carbonate market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in propylene carbonate production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the propylene carbonate price trend.

Latest developments in the Propylene Carbonate industry:

• In November 2022, LyondellBasell declared that it was continuing to evaluate the possibility of increasing the propylene production capacity at its Channelview Complex, which is located close to Houston, Texas. This would lead to the construction of a new propylene facility that would make use of LyondellBasell's current technology. The intention is to change ethylene into propylene, which will be used in the production of propylene oxide and polypropylene.
• In March 2023, BASF announced plans to expand its capacity for producing polymer dispersions by adding a second production line to its plant at the Daya Bay Petrochemical Industrial Park in Guangdong, China which is scheduled to be installed in the first few months of 2024.

Product Description

Propylene carbonate is a clear, organic compound characterized by its polar, solvent properties. It is an ester derived from propylene glycol and carbonic acid, symbolized by the formula C4H6O3. It is a colorless and odorless liquid known for its high boiling point and excellent solvency capabilities, making it a versatile solvent in various industrial applications.

Propylene carbonate is widely used in the production of lithium batteries, where it serves as an electrolyte due to its exceptional ability to dissolve electrolytes while being stable and non-corrosive. Additionally, it finds application in the cosmetics industry, particularly in personal care products, due to its efficacy as a solvent and carrier of fragrances. Furthermore, it is widely employed due to its low toxicity and environmental impact further enhancing its suitability for use in paints, coatings, and as a cleaning agent in electronics and metal industries.

Regional Coverage

The report provides a detailed analysis of the propylene carbonate market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the propylene

Global Propylene Carbonate Price

The report offers a holistic view of the global propylene carbonate pricing trends in the form of propylene carbonate price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights the current price but also provides insights into propylene carbonate historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into propylene carbonate price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed propylene carbonate demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Propylene Carbonate Price

The propylene carbonate prices in Europe experienced a downward trend in the final quarter of 2023, impacted by weak demand from major end-use sectors like electrolyte solvent synthesis. October saw a decline in rates due to reduced demand, even as the manufacturing purchasing managers index (PMI) showed little improvement. Throughout the quarter, the market faced challenges from relaxed supply chain activity and excess product availability. November continued this trend, with reduced demand from consumer and ample inventories leading to a decrease in manufacturing activity. By December, sustained low demand and high inventory levels prompted negative market sentiments, as end use industries saw reduced inquiries from their customers. Additionally, lower raw material prices and end-of-year destocking activities led to diminished industrial output, with many producers slowing down or pausing operations temporarily.

This analysis can be extended to include detailed propylene carbonate price information for a comprehensive list of countries.

North America Propylene Carbonate Price

During Q4 2023, the prices for propylene carbonate in North American showed mixed trends. The demand was moderate throughout Q4 as buyers were hesitant to make new purchases, focusing instead on fulfilling long-term contracts. In the early part of the quarter, demand was unpredictable owing to the ample supply of materials within the local market. November saw an increase in consumer expenditure and market activity, improving the economic outlook despite moderate demand from downstream sectors. Moreover, concerns over inflation, geopolitical crisis, and recession did not deter US consumer confidence, which grew towards the end of the quarter, reflecting optimism about future economic conditions.

Specific propylene carbonate historical data within the United States and Canada can also be provided.

Middle East and Africa Propylene Carbonate Price

The report explores the propylene carbonate pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on propylene carbonate prices for countries can also be provided.

Asia Pacific Propylene Carbonate Price

In Q4 2023, the Asia Pacific propylene carbonate prices maintained stability, driven primarily by moderate to high demand from end-use industries. The region saw steady supply levels, supported by the availability of ample inventory in the local market. Market sentiments remained positive, buoyed by heightened production rates along with favorable conditions. Key factors that were responsible for the price rates included the increased product demand in sectors like textile dyeing and battery manufacturing, continuous supply, and effective operations in the supply chain. There were no significant disruptions such as plant shutdowns, which contributed to the market's stability.

This propylene carbonate price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Propylene Carbonate Price

The analysis of propylene carbonate prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of propylene carbonate pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting propylene carbonate price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The propylene carbonate price charts ensure our clients remain at the forefront of the industry.