North America
In the fourth quarter of 2023, the North American Dimethyl Carbonate market demonstrated a mixed trend and the prices fluctuated throughout the quarter. Over three months, the demand outlook remained moderate amid consumers’ reluctance for new purchases and were mainly focusing on long-term orders. In the first month, the demand remained unstable as sufficient material availability was observed in the domestic market.
In November, increased consumer spending and enhanced market activities positively influenced the overall economic landscape. However, downstream industries encountered only modest demand. Despite concerns surrounding a potential recession, inflation, and geopolitical uncertainties, consumer confidence in the US saw growth in both November and December, signaling a positive outlook for future business conditions.
However, the procurement from the battery manufacturing firms was underwhelming due to lackluster demand whereas, the electric vehicle market showcased steady sales throughout Q4 as major players noted increased sales growth month-on-month. Furthermore, the electric vehicle battery market across the globe remained suppressed in Q4 amid tepid demand.
APAC
Dimethyl Carbonate prices in the APAC region remained volatile throughout Q4 2023, primarily due to weak demand from the downstream industries and regular supply. The overall supply remained regular with sufficient material availability in the region. However, the market support from the demand side was inadequate, leading to a bearish market sentiment. The demand from polycarbonate manufacturers was low to moderate, causing a decline in prices by 1.5% in December. In China, the prices of Dimethyl Carbonate declined slightly in the domestic market, continuing the bearish trend week-on-week. However, towards the end of Q4, the market sentiments for Dimethyl Carbonate stabilizer in the domestic market of China, and the prices were assessed at USD 615/MT (FOB Shenzhen). The percentage change in the last year's same quarter price was -34%, while the percentage change from the current to the previous quarter was -5%. The price percentage comparison of the first and second half of the quarter in China was 0%, indicating no significant price fluctuations. The latest price of Dimethyl Carbonate FOB Shenzhen in China in Q4 2023 was USD 615/MT. The primary reasons for the price decline were weak demand from downstream industries and regular supply, resulting in a bearish market sentiment.
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Europe
In the fourth quarter of 2023, the European dimethyl carbonate market exhibited a bearish pricing trend influenced by several factors. In October, prices declined due to subdued demand from downstream sectors like electrolyte solvent manufacturing and other end-use industries. Manufacturing production in the Eurozone contracted with a notable drop in new orders, despite a marginal improvement in the manufacturing PMI, indicating a prolonged downturn. The sluggish consumer demand led to eased supply chain operations. Moving to November, prices continued to decline, driven by persistent low demand from downstream industries. The consumer market witnessed ample material availability in the region. Despite a slight improvement in the PMI, manufacturing activities remained on a downward trajectory. Supply chain easing and improved vendor performance were noted amidst subdued consumer demand and limited market transactions.December saw a further decrease in prices due to sustained subdued demand. Downstream industries maintained weak consumer inquiries, resulting in negative market sentiments. High product inventories and destocking activities were evident among consumers. Prices of upstream raw materials dropped, and factory gate deflation persisted. Year-end holidays and destocking efforts contributed to reduced industrial activity, leading manufacturing companies to slow down or temporarily suspend operations.
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