Diethylene Glycol Prices, Trend, Supply and Demand & Forecast | ChemAnalyst
Diethylene Glycol (DEG) Prices: During the Quarter Ending December 2023
North America
The Diethylene Glycol (DEG) market in North America grappled with a blend of challenges and opportunities in the final quarter of 2023.
The market was notably impacted by disruptions in both supply and demand, resulting in price fluctuations. Supply remained constrained, with concerns over sluggish production growth due to reduced new orders and subdued export markets. On the demand front, various industries displayed moderate to high demand, notably the antifreeze sector, which showed signs of recovery. However, downstream sectors like polyester resin and plastics witnessed sluggish demand. Fluctuations in feedstock prices further compounded DEG price variability.
In the USA, the region’s largest market, DEG prices exhibited a slight increase in October and November, followed by a dip in December. Prices rose by +2.0% in October and +2.3% in November, but experienced a -1.8% decrease in December. Overall, the North American DEG market navigated a dynamic quarter marked by diverse factors influencing prices. The current price of DEG CFR Texas in the USA stands at USD 765/MT.
Get Real Time Prices of Diethylene Glycol (DEG): https://www.chemanalyst.com/Pricing-data/diethylene-glycol-66
APAC
The Diethylene Glycol (DEG) market in the APAC region witnessed a mixed trend in the fourth quarter of 2023, driven by firm domestic demand, particularly in South Korea, where the FOB Busan price reached USD 656/MT.
Supply remained limited due to reduced global availability, heightened feedstock prices, and surplus material, narrowing the gap between demand and supply. Industries such as polyurethanes and antifreeze sectors sustained high demand, while decreased demand from the antifreeze sector led to a drop in DEG prices. Market balance was maintained through consistent feedstock supply and uninterrupted production, with no reported plant shutdowns during the quarter. Although DEG prices remained stable compared to the same quarter last year, South Korea saw a 10% increase in prices compared to the previous quarter. However, a 2% decline was observed in price comparison between the first and second half of the quarter. Overall, the bullish trend in the APAC DEG market during Q4 2023 stemmed from firm demand, reduced supply, and consistent production.
Europe
The Diethylene Glycol (DEG) market in Europe faced a challenging period in the fourth quarter of 2023, with several factors influencing prices and market dynamics.
Demand declined from downstream sectors such as polyester resin and plastics, exerting downward pressure on DEG prices. This drop was attributed to weakening fundamentals and customer uncertainty. Although the antifreeze industries showed signs of recovery, oversupply conditions prevailed as European producers curbed supply to match subdued demand, resulting in a competitive market with discounted inventory prices. Germany, in particular, witnessed decreased demand due to inflationary pressures and weak microeconomic activities, leading to a -10% decrease in DEG prices compared to the previous quarter and a -30% decrease compared to the same quarter last year, with a price of USD 875/MT of Diethylene Glycol CFR Hamburg in Germany at quarter-end.
MEA
The Diethylene Glycol (DEG) market in the Middle East and Africa faced significant challenges in the fourth quarter of 2023.
Prices experienced a notable decline of -4% compared to the previous quarter, attributed to weak demand from downstream industries like polyester resin and plasticizers, compounded by regional economic conditions. Additionally, reduced demand from the antifreeze sector further pressured prices. In Saudi Arabia, the largest producer in the region, prices declined by -6% compared to the same quarter last year due to sluggish demand from the polyester resin industry and cautious outlook of the antifreeze sector. Excess inventory and rising production costs from higher raw material prices exacerbated the price decline. No plant shutdowns were reported during the quarter. The latest price of Diethylene Glycol FOB Jeddah in Saudi Arabia for the current quarter is USD 615/MT.
Get Real Time Prices of Diethylene Glycol (DEG): https://www.chemanalyst.com/Pricing-data/diethylene-glycol-66
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